Emcor Group (EME) FY2012 results: revenue $6.2 billion, up 10.4% on the year
Emcor Group, Inc. (EME) reported revenue of $6.2 billion for fiscal 2012, the year ended 31 December 2012, up 10.4% on the year before. Net income was $147 million, up 12.0%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$6.2 billion
+10.4% on the year
FY2008FY2012
Operating margin
4.2%
3.8% a year earlier
FY2008FY2012
Net income
$147 million
+12.0% on the year
FY2008FY2012
Diluted EPS
$2.16
+13.1% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
6,195
5,613
4,852
+10.4%
Cost of revenue
5,392
4,880
4,158
+10.5%
Gross profit
804
734
694
+9.5%
Gross margin
13.0%
13.1%
14.3%
Selling, general and administrative
544
518
472
+4.9%
Operating income
260
211
-26.5
+23.5%
Operating margin
4.2%
3.8%
-0.5%
Interest expense
7.3
11.3
12.2
-35.4%
Pre-tax income
255
201
-28.1
+26.4%
Income tax
97.9
76.8
52.4
+27.5%
Effective tax rate
38.5%
38.1%
n/a
Net income
147
131
-86.7
+12.0%
Net margin
2.4%
2.3%
-1.8%
Diluted EPS
$2.16
$1.91
-$1.31
+13.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
184
149
69.5
+23.4%
Capital expenditure
37.9
29.6
19.4
+28.0%
Free cash flow
147
120
50.2
+22.3%
Free cash flow margin
2.4%
2.1%
1.0%
Cash from investing
-42.5
-321
-32.7
Cash from financing
-50.6
-29.3
-48.0
Depreciation and amortisation
31.2
27.4
25.5
+13.9%
Share-based compensation
n/a
0.2
2.1
Buybacks
23.9
27.5
0.0
-13.1%
Dividends paid
34.1
3.3
0.0
+921.4%
Dividend per share
$0.51
$0.05
$0.00
+920.0%
Diluted shares, weighted
68m
68m
66m
-0.9%
Shares outstanding at period end
67m
66m
67m
+0.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,346
1,235
1,153
+9.0%
Non-controlling interest
11.1
10.4
9.9
+6.8%
Debt
156
155
151
+0.7%
Other liabilities
1,594
1,614
1,442
-1.2%
Total liabilities and equity
3,107
3,014
2,756
+3.1%
Fixed assets
117
102
88.6
+14.7%
Goodwill
567
567
407
-0.0%
Intangible assets
344
370
245
-7.2%
Cash and equivalents
605
511
711
+18.4%
Receivables
1,222
1,188
1,091
+2.9%
Other assets
253
276
213
-8.4%
Total assets
3,107
3,014
2,756
+3.1%
10-K for the year ended 31 December 2012, filed 25 February 2014: the filing.