EMCOR Group, Inc. raised its 2026 revenue and non-GAAP diluted earnings forecasts after reporting $5.54 billion in third-quarter revenue, a 28.8% annual increase and a company record, according to its Oct. 29 release.
The company reported net income of $399.9 million, or $9.04 per diluted share, compared with $295.4 million, or $6.57 per share, a year earlier. The latest quarter included a $34 million noncash impairment charge on identifiable intangible assets. After excluding that charge, EMCOR reported non-GAAP net income of $424.7 million, or $9.60 per diluted share.
EMCOR now expects 2026 revenue of $20.6 billion to $21.0 billion, up from its previous range of $20.0 billion to $20.5 billion. Its non-GAAP diluted EPS outlook is $34.50 to $35.50, compared with the prior range of $32.00 to $33.25. The company also put its expected non-GAAP operating margin at about 10%, above its former range of 9.5% to 9.8%. EMCOR said year-to-date momentum and near-term visibility informed the revised targets.
Remaining performance obligations totaled $18.57 billion as of Sept. 30, 47.2% above the year-earlier level. EMCOR said the strongest RPO growth came in Network and Communications, citing demand for complex electrical and cooling work at large facilities.
The board also authorized an additional $500 million for share repurchases, funded from company operations. EMCOR said the program is intended to support long-term value creation.
The Securities and Exchange Commission index lists the Oct. 29 filing under Item 2.02 for results and Item 9.01 for financial statements and exhibits. The submission contains 13 documents, including the earnings release and XBRL data files.
