Key Takeaways EMCOR profits directly from the AI hyperscale data center spending boom.The electrical construction and energy infrastructure company earns a Zacks Rank #1 (Strong Buy). EME soared 820% in the past five years, yet its valuation is solid and it's ready to breakout.Artificial intelligence is fueling the Wall Street bull market, as AI hyperscalers spend hundreds of billions of dollars building large data centers. But it’s difficult to pick winners in an AI future that remains uncertain from a lon ...

Key Takeaways EMCOR agreed to sell EMCOR UK to OCS Group UK for $255 million.The sale supports EMCOR's focus on U.S. high-growth sectors and its national reach strategy.Divestment aims to fund core services, acquisitions and enhance EMCOR's margin profile.EMCOR Group, Inc. (EME) has entered into a definitive agreement to sell EMCOR Group (UK) plc to OCS Group UK Limited. EMCOR UK is the company’s United Kingdom building services segment.The transaction values EMCOR UK at approximately £190 million, equivale ...

BREAKING: Futures Fall As Many Hot Stocks Continue Slide Artificial intelligence giants like Microsoft (MSFT), Meta Platforms (META), and Google parent Alphabet (GOOGL) continue to invest heavily in artificial intelligence and the data centers that make it possible. That has proved a boon for Emcor (EME), which helps provide the infrastructure to hyperscale AI data centers. And Wall Street has taken notice. In each of the last four months,… Related news Google Shakes Up Cryptocurrency, Digital Payments With ...

We recently published Trending Analyst Calls: Top 10 Stocks. EMCOR Group, Inc. (NYSE:EME) is one of the stocks analysts were recently talking about. Kevin Mahn, president & CIO of Hennion & Walsh Asset Management, said in a recent program on CNBC that he thinks Emcor is an attractive stock. Here’s why: “So that seems pretty attractive to me, right? If you look at the S&P 500 right now, it’s trading at a current PE of around 24 and a half. That’s above its five and 10 year averages. So, if you can invest ...

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Emcor Group (EME) closed the most recent trading day at $644.70, moving -1.7% from the previous trading session. This move lagged the S&P 500's daily loss of 0.55%. Meanwhile, the Dow experienced a drop of 0.19%, and the technology-dominated Nasdaq saw a decrease of 0.95%. Prior to today's trading, shares of the construction and maintenance company had gained 7.66% outpaced the Construction sector's loss of 1.4% and the S&P 500's gain of 3.64%.Analysts and investors alike will be keeping a close eye on the ...

Key Takeaways EMCOR added $581.2M in revenues from acquisitions in the first half of 2025.Miller Electric was the largest contributor among EMCOR's recent acquisitions.RPO rose 32.4% year over year, including acquisitions, reaching $11.91B.EMCOR Group, Inc. (EME) continues to expand its presence across construction and services through targeted acquisitions. The company has positioned itself to capture demand in diverse end-markets, from data centers and healthcare facilities to institutional projects. By b ...

Question-and-Answer SessionThanks, Tony. Well, with that, I'll maybe turn it to you, just give a brief state of the union. I got some more direct questions for you, Tony, but thoughts on the first half and where you see things going here.Anthony GuzziChairman, President & CEO I mean, look, things are happening over the last couple of years, mostly like we expected. I think we've been pretty thoughtful about how we've allocated capital to position ourselves where we are today. the things we've done to build ...

公司概况 * 公司为EMCOR (NYSE:EME) 一家专注于机电、消防与生命安全系统建设的承包商 [1] * 公司拥有基于价值观的企业文化和非常具体的运营模式 并非常重视劳动力管理和监督能力的建设 [1] * 公司拥有约46,500名员工 其中约80%（约35,000名）为一线技术工人 [11][13] 核心业务与市场表现 * 公司在数据中心市场建立了非常强大的市场地位 业务涵盖消防与生命安全系统、电气和机械交付 [1] * 数据中心业务目前占公司总收入的20%至25% [6] * 公司服务于传统制造业和高科技制造业市场 在关键半导体基地、制药、生物生命科学和电动汽车(EV)链上拥有良好地位 [1] * 在电池工厂领域 尤其是消防与生命安全系统方面 持续看到强劲需求 [2] * 能源与可持续发展、能效业务（体现在建筑服务业务中）表现良好 该业务约70%为机械服务 息税折旧摊销前利润(EBITDA)利润率达高个位数至低双位数 [2] * 建筑服务业务（主要为机械服务）在商业市场基本持平至下滑的背景下 仍实现了中个位数至高个位数的增长 [2] * 医疗保健是公司的一个重要市场 在数据中心之外 2025年该领域实现了最显著的增长 收入占比近40% 且新建与改造项目较为平衡 [50][51] * 在机械和电气建设领域 公司持续显著超越非住宅建筑市场的增长 长期来看超出幅度达400或500个基点 [2] * 公司整体增长率长期超出市场200个基点 是一家增长型公司 并且实现了利润率扩张和强大的现金流转化 [3] 运营策略与效率 * 公司专注于在本地市场实现利润最大化 同时维护与长期核心客户的关系 而非过度集中于单一市场（如数据中心）[6] * 公司的激励体系基于净资产回报率(Return on Net Assets) 这促使管理层关注现金流和资产负债表效率 而非单纯追求收入增长 [65][66] * 项目规模显著增大 目前公司建设业务收入的50%至55%来自价值超过1000万美元的项目 而五年前这一比例仅为30%至35% [70] * 整体而言 公司约三分之一收入来自超过1000万美元的项目 三分之一来自100万至1000万美元的项目 另三分之一来自低于100万美元的项目 [70] * 通过应用建筑信息模型(BIM)和预制化等技术 劳动生产率大幅提升 在过去五到十年间 收入增长速度是劳动力增长速度的三倍 [13] * 公司对剩余履约义务(RPO)的确认非常严格 只计入已签订合同并获得资金支持的金额 这使得其RPO比大多数承包商报告的 backlog 更为坚实 [32][33][35][36] 劳动力与联盟策略 * 拥有工会化的劳动力在当前市场被视为一个真正的竞争优势 尤其是在增长中的州 工会是公司的合作伙伴 [8] * 工会伙伴关系有助于公司培养劳动力、进行标准化培训 并能够在不同地区灵活调动人员以满足项目需求 [8][9] * 公司的主要制约因素并非一线技术工人 而是项目监管人才(supervision) [17] * 公司通过在有经验的项目中搭配新人的方式（例如一个项目配置五名经验丰富的工头和三名首次担任此职的人）来培养监管人才 [15] * 一些更有远见的业主会通过提供GMP合同来帮助公司在新市场培养劳动力 这在五六年前是很少见的情况 [16] 数据中心机遇与展望 * 数据中心项目对公司的价值乘数可能高于之前认为的1.3至1.5 尤其是在机械方面 [18][19] * 驱动数据中心增长的因素包括：云计算应用（预计未来5-7年将翻倍 年增长率约9%至12%）、人工智能(AI)和分析应用对算力的需求 [21][22] * 对电力的追求是数据中心扩张的关键驱动力 公司服务的数据中心站点已从2个增加到14个 [23] * 预计2028、2029、2030、2031年需要有新的发电产能上线 并在2031至2035年进行大规模建设以支持持续增长 [24] * 目前数据中心业务中80%至85%是新建项目 其余为“第二天”维护工作（通常不计入RPO）[29][30] * 公司尚未大规模参与数据中心的翻新改造(retrofit)机会 也未涉足设施服务运营 主要因合同风险（如连带损失）与回报（10%或12%的利润率）不匹配 [27][28][31] 其他市场动态 * 在高科技制造领域 收入构成大致为：半导体占40%-45% 生物技术/制药/生命科学占20%-25% 电动汽车价值链占约三分之一 [44] * 在电动汽车价值链中 出现从传统电动汽车制造向电池技术转移的趋势 并且假设未来混合动力技术可能更受青睐 [2][45] * 工业市场（尤其是油气中游领域）出现活动增加迹象 因企业希望在未来三年内尽可能多地建设管道和压缩机站 [61][62] * 商业市场的仓库分销领域 对消防与生命安全系统（尤其是冷库）的需求开始回升 [54] 并购策略与文化 * 公司认为市场上仍有充足的并购机会 [77] * 公司的并购策略侧重于与文化、价值观一致 并拥有深度管理团队的高质量公司 而非参与私募股权竞拍 [78][79] * 成功的整合关键在于透明文化、风险意识、对人员与客户的关怀 以及让被收购公司的领导者成为合作伙伴而非下属 [80][81][85] * 公司坚持运营自主性与指导原则相结合的模式 这需要强大的指标驱动文化和透明度 [86]

Key Takeaways Healthcare projects lifted EMCOR's electrical construction revenues 110% to $241.4M in H1 2025.Healthcare RPOs reached $1.4B by June 30, boosted by demand and the Miller Electric acquisition.EME earnings estimates rose to $25.11 for 2025 and $27.00 for 2026, signaling strong growth.Besides data center construction projects, EMCOR Group, Inc. (EME) is witnessing growing demand in the healthcare and pharma-related projects. These trends are substantiated by the company’s performance in the first ...