Emcor Group (EME) FY2018 results: revenue $8.1 billion, up 5.8% on the year
Emcor Group, Inc. (EME) reported revenue of $8.1 billion for fiscal 2018, the year ended 31 December 2018, up 5.8% on the year before. Net income was $284 million, up 24.8%, and diluted earnings per share $4.85. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$8.1 billion
+5.8% on the year
FY2011FY2018
Operating margin
5.0%
4.3% a year earlier
FY2011FY2018
Net income
$284 million
+24.8% on the year
FY2011FY2018
Diluted EPS
$4.85
+27.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
8,131
7,687
7,552
+5.8%
Cost of revenue
6,925
6,540
6,514
+5.9%
Gross profit
1,205
1,147
1,038
+5.1%
Gross margin
14.8%
14.9%
13.7%
Selling, general and administrative
799
759
727
+5.3%
Operating income
403
329
307
+22.6%
Operating margin
5.0%
4.3%
4.1%
Interest expense
13.5
12.8
12.6
+6.1%
Pre-tax income
395
319
296
+23.9%
Income tax
109
90.7
111
+20.3%
Effective tax rate
27.6%
28.5%
37.5%
Net income
284
227
182
+24.8%
Net margin
3.5%
3.0%
2.4%
Diluted EPS
$4.85
$3.82
$2.97
+27.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
271
366
262
-26.0%
Capital expenditure
43.5
34.7
39.6
+25.4%
Free cash flow
228
331
223
-31.4%
Free cash flow margin
2.8%
4.3%
2.9%
Cash from investing
-118
-138
-271
Cash from financing
-253
-228
-9.4
Depreciation and amortisation
38.5
39.9
38.9
-3.6%
Buybacks
216
93.2
94.2
+132.1%
Dividends paid
18.6
19.0
19.5
-1.7%
Dividend per share
$0.32
$0.32
$0.32
0.0%
Diluted shares, weighted
58m
60m
61m
-2.0%
Shares outstanding at period end
56m
59m
60m
-4.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,741
1,673
1,537
+4.0%
Non-controlling interest
0.9
0.8
0.9
+5.4%
Debt
296
310
423
-4.6%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
2,052
1,982
1,891
+3.5%
Total liabilities and equity
4,089
3,966
3,852
+3.1%
Fixed assets
134
127
128
+5.7%
Goodwill
991
965
980
+2.7%
Intangible assets
488
495
487
-1.4%
Cash and equivalents
364
467
465
-22.1%
Receivables
1,774
1,608
1,495
+10.3%
Other assets
338
303
297
+11.3%
Total assets
4,089
3,966
3,852
+3.1%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.