Emcor Group (EME) FY2013 results: revenue $6.3 billion, up 2.2% on the year
Emcor Group, Inc. (EME) reported revenue of $6.3 billion for fiscal 2013, the year ended 31 December 2013, up 2.2% on the year before. Net income was $124 million, down 15.5%, and diluted earnings per share $1.82. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$6.3 billion
+2.2% on the year
FY2008FY2013
Operating margin
3.8%
4.2% a year earlier
FY2008FY2013
Net income
$124 million
-15.5% on the year
FY2008FY2013
Diluted EPS
$1.82
-15.7% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
6,334
6,195
5,613
+2.2%
Cost of revenue
5,512
5,392
4,880
+2.2%
Gross profit
822
804
734
+2.2%
Gross margin
13.0%
13.0%
13.1%
Selling, general and administrative
581
544
518
+6.8%
Operating income
240
260
211
-7.7%
Operating margin
3.8%
4.2%
3.8%
Interest expense
8.8
7.3
11.3
+20.5%
Pre-tax income
233
255
201
-8.6%
Income tax
82.3
97.9
76.8
-15.9%
Effective tax rate
35.4%
38.5%
38.1%
Net income
124
147
131
-15.5%
Net margin
2.0%
2.4%
2.3%
Diluted EPS
$1.82
$2.16
$1.91
-15.7%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
150
184
149
-18.6%
Capital expenditure
35.5
37.9
29.6
-6.3%
Free cash flow
115
147
120
-21.8%
Free cash flow margin
1.8%
2.4%
2.1%
Cash from investing
-483
-42.5
-321
Cash from financing
167
-50.6
-29.3
Depreciation and amortisation
36.3
31.2
27.4
+16.4%
Share-based compensation
n/a
n/a
0.2
Buybacks
26.1
23.9
27.5
+9.0%
Dividends paid
12.1
34.1
3.3
-64.5%
Dividend per share
$0.18
$0.51
$0.05
-64.7%
Diluted shares, weighted
68m
68m
68m
+0.5%
Shares outstanding at period end
67m
67m
66m
-0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,466
1,346
1,235
+8.9%
Non-controlling interest
13.4
11.1
10.4
+20.4%
Debt
355
156
155
+127.5%
Other liabilities
1,632
1,594
1,614
+2.4%
Total liabilities and equity
3,466
3,107
3,014
+11.5%
Fixed assets
123
117
102
+5.8%
Goodwill
835
567
567
+47.3%
Intangible assets
541
344
370
+57.5%
Cash and equivalents
440
605
511
-27.3%
Receivables
1,268
1,222
1,188
+3.8%
Other assets
258
253
276
+2.1%
Total assets
3,466
3,107
3,014
+11.5%
10-K for the year ended 31 December 2013, filed 25 February 2014: the filing.