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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.77B | +9.6% | $6.32 | +41.4% | 20.1% | 10.3% | 7.7% | $452M |
| FY2025 Q1 | $3.87B | +12.7% | $5.26 | +26.1% | 18.7% | 8.2% | 6.2% | $82M |
| FY2025 Q2 | $4.30B | +17.4% | $6.72 | +28.0% | 19.4% | 9.6% | 7.0% | $166M |
| FY2025 Q3 | $4.30B | +16.4% | $6.57 | +13.3% | 19.4% | 9.4% | 6.9% | $449M |
| FY2025 Q4 | $4.52B | +19.8% | $9.64 | +52.5% | 20.7% | 11.8% | 9.6% | $492M |
| FY2026 Q1 | $4.63B | +19.7% | $6.84 | +30.0% | 18.7% | 8.7% | 6.6% | $-28M |
| FY2026 Q2 | $5.15B | +19.8% | $9.06 | +34.8% | 19.8% | 10.6% | 7.8% | $258M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Brent Thielman | Oppenheimer | 16 (0%) |
| Adam Thalhimer | Thompson Davis | 15 (0%) |
| Brian Brophy | Stifel | 15 (0%) |
| Adam Bubes | Goldman Sachs | 14 (0%) |
| Avi Jaroslawicz | UBS | 11 (0%) |
| Justin Hauke | Robert W. Baird | 8 (13%) |
| Manish Somaiya | Cantor Fitzgerald | 6 (0%) |
| Sangita Jain | KeyBanc Capital Markets | 4 (0%) |
| Tim Mulrooney | William Blair | 4 (0%) |
| Alex Dwyer | KeyBanc Capital Markets | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Oppenheimer | 1 | 16 (0%) |
| Stifel | 1 | 15 (0%) |
| Thompson Davis | 1 | 15 (0%) |
| Goldman Sachs | 1 |
| 14 (0%) |
| UBS | 1 | 11 (0%) |
| KeyBanc Capital Markets | 2 | 8 (0%) |
| Robert W. Baird | 1 | 8 (13%) |
| William Blair | 2 | 6 (17%) |
EMCOR delivered Q1 2026 revenues of $4.63B, up 19.7% (16.8% organic), with diluted EPS of $6.84 growing 30%. RPOs surged to a record $15.62B from $11.75B a year ago, driven by data center and AI infrastructure demand acceleration. Management raised FY2026 guidance to $18.5-$19.25B in revenue and $28.25-$29.75 in EPS, reflecting broad-based strength across construction segments.
Margin | Demand | Revenue Growth | Cloud & AI | Competitive Dynamics | M&A | Geographic Expansion | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 5 | 2 | 2 | 4 | 2 | 3 | 1 |
| 2025Q1 | 3 | 4 | 2 | 4 | 1 | 2 | 2 | 1 |
| 2025Q2 | 5 | 7 | 5 | 2 | 3 | 1 | 1 | |
| 2025Q3 | 6 | 5 | 3 | 4 | 3 | 3 | 2 | |
| 2025Q4 | 5 | 1 | 2 | 5 | 3 | 4 | 3 | 2 |
| 2026Q1 | 5 | 2 | 4 | 1 | 6 | 1 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Margin | 3 | 3 | 5 | 6 | 5 | 5 |
| Demand | 5 | 4 | 7 | 5 | 1 | 2 |
| Revenue Growth | 2 | 2 | 5 | 3 | 2 | 4 |
| Cloud & AI | 2 | 4 | 2 | 4 | 5 | 1 |
| Competitive Dynamics | 4 | 1 | 3 | 3 | 6 | |
| M&A | 2 | 2 | 1 | 3 | 4 | 1 |
| Geographic Expansion | 3 | 2 | 3 | 3 | 1 | |
| Capital Allocation | 1 | 1 | 1 | 2 | 2 | 1 |
What EME and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“but we're not looking to become [ Quanta ] in the T&D business. We're going to continue to”
EMCOR positions itself as a low-to-mid-voltage electrical player and explicitly does not intend to compete with Quanta Services in the high-voltage transmission and distribution (T&D) market.
“take a larger platform like Batchelor & Kimball, and grow organically”
EMCOR cites acquired mechanical platform Batchelor & Kimball as a model for buying a scaled contractor and growing it organically via prefabrication capability.
“that's one of the appeals of Miller. They are excellent at this. They have a pro trade program that allows a quick training program of 2 to 4 weeks”
EMCOR's Miller acquisition brings a well-regarded craft-labor training (pro trade) program that EMCOR is expanding across other subsidiaries to grow its workforce.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
EME EMCOR Group, Inc. | 10 | +19.7% | |
| FIX Comfort Systems USA, Inc. | 10 | +56.5% | |
| J Jacobs Solutions | 8 | +26.9% | |
| PWR Quanta Services | 10 | +26.3% |