Emcor Group (EME) FY2023 results: revenue $12.6 billion, up 13.6% on the year
Emcor Group, Inc. (EME) reported revenue of $12.6 billion for fiscal 2023, the year ended 31 December 2023, up 13.6% on the year before. Net income was $633 million, up 55.9%, and diluted earnings per share $13.31. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$12.6 billion
+13.6% on the year
FY2016FY2023
Operating margin
7.0%
5.1% a year earlier
FY2016FY2023
Net income
$633 million
+55.9% on the year
FY2016FY2023
Diluted EPS
$13.31
+64.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
900
498
319
+80.7%
Capital expenditure
78.4
49.3
36.2
+59.1%
Free cash flow
821
449
283
+83.1%
Free cash flow margin
6.5%
4.1%
2.9%
Cash from investing
-161
-141
-153
Cash from financing
-412
-710
-245
Depreciation and amortisation
51.8
47.3
48.3
+9.6%
Buybacks
128
661
196
-80.7%
Dividends paid
32.7
27.2
28.2
+20.2%
Dividend per share
$0.69
$0.54
$0.52
+27.8%
Diluted shares, weighted
48m
50m
54m
-5.1%
Shares outstanding at period end
47m
48m
53m
-1.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,470
1,974
2,252
+25.1%
Non-controlling interest
1.0
0.7
0.7
+47.7%
Debt
2.8
247
262
-98.9%
Operating lease liabilities
259
221
221
+17.5%
Finance lease liabilities
2.8
3.8
4.7
-25.5%
Other liabilities
3,874
3,079
2,701
+25.8%
Total liabilities and equity
6,610
5,525
5,441
+19.6%
Fixed assets
179
158
152
+13.7%
Goodwill
957
919
890
+4.1%
Intangible assets
586
594
589
-1.3%
Cash and equivalents
790
456
821
+73.0%
Receivables
3,203
2,567
2,205
+24.8%
Other assets
895
830
784
+7.8%
Total assets
6,610
5,525
5,441
+19.6%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.