Emcor Group (EME) FY2020 results: revenue $8.8 billion, down 4.1% on the year
Emcor Group, Inc. (EME) reported revenue of $8.8 billion for fiscal 2020, the year ended 31 December 2020, down 4.1% on the year before. Net income was $133 million, down 59.1%, and diluted earnings per share $2.40. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$8.8 billion
-4.1% on the year
FY2013FY2020
Operating margin
2.9%
5.0% a year earlier
FY2013FY2020
Net income
$133 million
-59.1% on the year
FY2013FY2020
Diluted EPS
$2.40
-58.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
8,797
9,175
8,131
-4.1%
Cost of revenue
7,402
7,819
6,925
-5.3%
Gross profit
1,395
1,356
1,205
+2.9%
Gross margin
15.9%
14.8%
14.8%
Selling, general and administrative
904
893
799
+1.1%
Operating income
257
461
403
-44.3%
Operating margin
2.9%
5.0%
5.0%
Interest expense
9.0
13.8
13.5
-34.8%
Pre-tax income
252
451
395
-44.0%
Income tax
119
126
109
-5.1%
Effective tax rate
47.3%
27.9%
27.6%
Net income
133
325
284
-59.1%
Net margin
1.5%
3.5%
3.5%
Diluted EPS
$2.40
$5.75
$4.85
-58.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
806
356
271
+126.7%
Capital expenditure
48.0
48.4
43.5
-1.0%
Free cash flow
758
307
228
+146.8%
Free cash flow margin
8.6%
3.3%
2.8%
Cash from investing
-94.9
-345
-118
Cash from financing
-172
-19.2
-253
Depreciation and amortisation
46.7
43.9
38.5
+6.3%
Buybacks
113
0.0
216
Dividends paid
17.7
17.9
18.6
-1.5%
Dividend per share
$0.32
$0.32
$0.32
0.0%
Diluted shares, weighted
55m
57m
58m
-1.9%
Shares outstanding at period end
55m
56m
56m
-2.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,053
2,057
1,741
-0.2%
Non-controlling interest
0.6
0.6
0.9
-10.8%
Debt
277
312
296
-11.4%
Operating lease liabilities
205
205
0.0
+0.2%
Finance lease liabilities
6.0
5.6
n/a
+6.8%
Other liabilities
2,523
2,250
2,052
+12.1%
Total liabilities and equity
5,064
4,830
4,089
+4.8%
Fixed assets
158
156
134
+1.4%
Goodwill
852
1,064
991
-19.9%
Intangible assets
583
611
488
-4.7%
Cash and equivalents
903
359
364
+151.6%
Receivables
1,922
2,031
1,774
-5.4%
Other assets
646
609
338
+6.0%
Total assets
5,064
4,830
4,089
+4.8%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.