Emcor Group (EME) FY2017 results: revenue $7.7 billion, up 1.8% on the year
Emcor Group, Inc. (EME) reported revenue of $7.7 billion for fiscal 2017, the year ended 31 December 2017, up 1.8% on the year before. Net income was $227 million, up 24.9%, and diluted earnings per share $3.82. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$7.7 billion
+1.8% on the year
FY2010FY2017
Operating margin
4.3%
4.1% a year earlier
FY2010FY2017
Net income
$227 million
+24.9% on the year
FY2010FY2017
Diluted EPS
$3.82
+28.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
7,687
7,552
6,719
+1.8%
Cost of revenue
6,540
6,514
5,774
+0.4%
Gross profit
1,147
1,038
944
+10.5%
Gross margin
14.9%
13.7%
14.1%
Selling, general and administrative
759
727
657
+4.4%
Operating income
329
307
287
+7.2%
Operating margin
4.3%
4.1%
4.3%
Interest expense
12.8
12.6
8.9
+1.1%
Pre-tax income
319
296
279
+7.5%
Income tax
90.7
111
106
-18.4%
Effective tax rate
28.5%
37.5%
38.1%
Net income
227
182
172
+24.9%
Net margin
3.0%
2.4%
2.6%
Diluted EPS
$3.82
$2.97
$2.72
+28.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
366
262
267
+39.5%
Capital expenditure
34.7
39.6
35.5
-12.5%
Free cash flow
331
223
231
+48.8%
Free cash flow margin
4.3%
2.9%
3.4%
Cash from investing
-138
-271
-59.8
Cash from financing
-228
-9.4
-149
Depreciation and amortisation
39.9
38.9
36.3
+2.7%
Buybacks
93.2
94.2
104
-1.1%
Dividends paid
19.0
19.5
20.1
-2.5%
Dividend per share
$0.32
$0.32
$0.32
0.0%
Diluted shares, weighted
60m
61m
63m
-2.6%
Shares outstanding at period end
59m
60m
61m
-1.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,673
1,537
1,477
+8.9%
Non-controlling interest
0.8
0.9
3.3
-0.4%
Debt
310
423
315
-26.7%
Other liabilities
1,982
1,891
1,712
+4.8%
Total liabilities and equity
3,966
3,852
3,507
+2.9%
Fixed assets
127
128
122
-0.6%
Goodwill
965
980
843
-1.5%
Intangible assets
495
487
473
+1.6%
Cash and equivalents
467
465
487
+0.6%
Receivables
1,608
1,495
1,360
+7.5%
Other assets
303
297
222
+2.0%
Total assets
3,966
3,852
3,507
+2.9%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.