EMCOR Group (EME) 10-K Summary — Year Ended Dec 31, 2024
EMCOR Group provides electrical, mechanical, and building services for commercial, industrial, and institutional clients. The company reported higher revenue and operating income for the year, with operating cash flow supporting its capital allocation priorities.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
EMCOR Group provides electrical, mechanical, and building services for commercial, industrial, and institutional clients. The company reported higher revenue and operating income for the year, with operating cash flow supporting its capital allocation priorities.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$14.6B
Revenue reported for the fiscal year.
Operating income
$1.3B
Income from operations reported for the year.
Net income
$1B
Net income reported for the year.
Operating cash flow
$1.4B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $9.9B | n/a |
| Dec 31, 2022 | $11.1B | +11.8% |
| Dec 31, 2023 | $12.6B | +13.6% |
| Dec 31, 2024 | $14.6B | +15.8% |
Business overview
EMCOR Group operates through segments that deliver electrical and mechanical construction, building services, and industrial services. The company serves a diverse customer base across the United States, competing on project execution, safety, and technical expertise.
Financial performance
Revenue increased compared to the prior year, and operating income also rose. Net income and operating cash flow were both positive, reflecting the company's financial direction for the period.
Material risks
Material risks include potential delays in customer payments, increased credit losses, and higher costs for commodities and materials. Economic downturns could reduce private-sector discretionary projects and intensify competition for public-sector contracts.
Liquidity and capital
The company focuses on converting operating income into cash to fund working capital, acquisitions, capital expenditures, debt payments, dividends, and share repurchases. Management monitors financial markets and adjusts capital allocation as conditions change.
What to watch
Readers should monitor changes in the company's backlog and the pace of new project awards in the next filing.