EMCOR Group reported third‑quarter 2025 results for the period ending September 30, 2025, with revenue of $4.30 billion, up 16.4 % year‑over‑year, and net income of $295.4 million. Diluted earnings per share were $6.57, and operating income reached $405.7 million, giving an operating margin of 9.4 %. Remaining performance obligations climbed to $12.61 billion, a 29 % increase from the same period last year.
The quarter’s growth was driven by strong performance in data‑center, healthcare, and industrial segments. Electrical and Mechanical Construction contributed significantly, with year‑to‑date revenue growth of 23.3 % and an operating margin of 12.4 %. The acquisition of Miller Electric, closed in Q1 2025, added $794.4 million in revenue and $21.2 million in operating income to the quarter’s results.
EMCOR updated its full‑year outlook, raising revenue guidance to $16.7 billion–$16.8 billion and non‑GAAP diluted EPS to $25.00–$25.75. The company reiterated its 2025 operating‑margin target of 8.5 %–9.2 %. Management cited strong execution, a robust pipeline, and the impact of the Miller Electric acquisition as reasons for the upward revision.
The company also highlighted shareholder returns, having repurchased $432.2 million of common stock year‑to‑date and paid dividends. EMCOR plans to divest its U.K. Building Services segment, focusing on its core U.S. operations while continuing to invest in virtual design and construction technologies to enhance productivity and maintain competitive advantage.
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