Emcor Group (EME) FY2014 results: revenue $6.4 billion, up 1.4% on the year
Emcor Group, Inc. (EME) reported revenue of $6.4 billion for fiscal 2014, the year ended 31 December 2014, up 1.4% on the year before. Net income was $169 million, up 36.2%, and diluted earnings per share $2.52. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$6.4 billion
+1.4% on the year
FY2008FY2014
Operating margin
4.5%
3.8% a year earlier
FY2008FY2014
Net income
$169 million
+36.2% on the year
FY2008FY2014
Diluted EPS
$2.52
+38.5% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
6,425
6,334
6,195
+1.4%
Cost of revenue
5,518
5,512
5,392
+0.1%
Gross profit
907
822
804
+10.4%
Gross margin
14.1%
13.0%
13.0%
Selling, general and administrative
626
581
544
+7.9%
Operating income
290
240
260
+20.6%
Operating margin
4.5%
3.8%
4.2%
Interest expense
9.1
8.8
7.3
+3.5%
Pre-tax income
282
233
255
+21.0%
Income tax
104
82.3
97.9
+25.8%
Effective tax rate
36.8%
35.4%
38.5%
Net income
169
124
147
+36.2%
Net margin
2.6%
2.0%
2.4%
Diluted EPS
$2.52
$1.82
$2.16
+38.5%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
247
150
184
+64.4%
Capital expenditure
38.0
35.5
37.9
+7.1%
Free cash flow
209
115
147
+82.1%
Free cash flow margin
3.2%
1.8%
2.4%
Cash from investing
-21.7
-483
-42.5
Cash from financing
-230
167
-50.6
Depreciation and amortisation
36.5
36.3
31.2
+0.6%
Buybacks
202
26.1
23.9
+674.8%
Dividends paid
21.3
12.1
34.1
+76.3%
Dividend per share
$0.32
$0.18
$0.51
+77.8%
Diluted shares, weighted
67m
68m
68m
-1.5%
Shares outstanding at period end
63m
67m
67m
-5.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,416
1,466
1,346
-3.4%
Non-controlling interest
13.4
13.4
11.1
+0.1%
Debt
335
355
156
-5.4%
Other liabilities
1,624
1,632
1,594
-0.5%
Total liabilities and equity
3,389
3,466
3,107
-2.2%
Fixed assets
122
123
117
-1.0%
Goodwill
834
835
567
-0.1%
Intangible assets
502
541
344
-7.3%
Cash and equivalents
432
440
605
-1.8%
Receivables
1,234
1,268
1,222
-2.7%
Other assets
264
258
253
+2.4%
Total assets
3,389
3,466
3,107
-2.2%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.