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Emcor Group misses 4Q profit forecasts

NORWALK, Conn. (AP) _ Emcor Group Inc. (EME) on Thursday reported fourth-quarter profit of $40.7 million.

The Norwalk, Connecticut-based company said it had profit of 66 cents per share. Earnings, adjusted to account for discontinued operations and asset impairment costs, were 72 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The construction and maintenance company posted revenue of $1.95 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $1.92 billion.

For the year, the company reported profit of $181.9 million, or $2.97 per share. Revenue was reported as $7.55 billion.

Emcor Group expects full-year earnings in the range of $3.10 to $3.50 per share, with revenue in the range of $7.5 billion to $7.6 billion.

Emcor Group shares have declined 3 percent since the beginning of the year. The stock has risen 48 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EME at https://www.zacks.com/ap/EME


Keywords: Emcor Group, Earnings Report