EMCOR Group, Inc. reported a significant increase in financial performance for the first quarter of 2026, with revenues reaching $4.63 billion, a 19.7% increase from $3.87 billion in the same period last year. The company achieved a gross profit of $864 million, maintaining a gross profit margin of 18.7%. Operating income also saw a notable rise to $403.8 million, or 8.7% of revenues, compared to $318.8 million, or 8.2% of revenues, in the prior year. Net income for the quarter was $305.5 million, translating to $6.84 per diluted share, up from $240.7 million, or $5.26 per diluted share, in the previous year.
The increase in revenue was attributed to broad-based demand across various market sectors, with all reportable segments contributing to growth. The United States electrical construction and facilities services segment generated $1.45 billion, a $359.6 million increase, while the mechanical construction and facilities services segment reported $2.03 billion, up $453.7 million. The building services segment also grew to $772.6 million, and the industrial services segment increased to $381.8 million. The results included an incremental contribution from acquisitions totaling $234.1 million.
Strategically, EMCOR has continued to expand its operations through acquisitions, including a recent immaterial acquisition in the first quarter of 2026 and the acquisition of Miller Electric Company in February 2025 for $876.8 million. The company has also divested its United Kingdom building services segment, EMCOR UK, which was sold on December 1, 2025. The impact of these acquisitions and divestitures is reflected in the company's financial results, with incremental contributions from acquired companies enhancing revenue and operating income.
Operationally, EMCOR's total assets increased to $9.51 billion as of March 31, 2026, compared to $9.29 billion at the end of 2025. The company reported a total of $15.62 billion in remaining performance obligations, a record high, indicating a strong pipeline of future work. The company’s cash and cash equivalents stood at $916.4 million, down from $1.11 billion at the end of 2025, primarily due to increased accounts receivable linked to strong revenue growth.
Looking ahead, EMCOR anticipates continued growth driven by strong demand across its service sectors, although it acknowledges potential risks related to economic conditions, labor shortages, and material costs. The company remains focused on leveraging its operational efficiencies and maintaining a strong balance sheet to support its growth strategies.
About EMCOR Group, Inc.
EMCOR Group, Inc. is a leading U.S. specialty contractor providing electrical, mechanical, building, and industrial services. Its core operations include construction, facilities management, and industrial maintenance across diverse markets such as commercial, healthcare, manufacturing, and government. The company emphasizes safety, technical expertise, and sustainable energy solutions, serving a broad customer base with long-standing relationships and a focus on project execution and industry innovation.
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