EMCOR Q3 FY2026: revenue up 28.8% to $5.54 billion, EPS beats at $9.60
EMCOR beat on the lines that matter: revenue of $5.54 billion rose 28.8%, non-GAAP EPS of $9.60 cleared the $8.44 consensus, and management raised full-year revenue and EPS guidance again. This is a contractor running at record backlog, so read the quarter through order growth and SG&A leverage rather than the headline EPS alone.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $9.04 rose 37.6% from $6.57, and non-GAAP of $9.60 rose 46.1%. The $0.56 gap is a $34.0 million non-cash impairment on intangible assets, or $24.7 million after tax. Non-GAAP EPS beat the $8.44 consensus by $1.16, a 13.7% margin that came mostly from SG&A falling to 9.5% of revenue from 10.0%.
Revenue of $5.54 billion was a quarterly record and a 28.8% jump from $4.30 billion a year ago. Strip out $313.3 million of acquisition revenue and add back $136.2 million lost with the UK sale, and organic growth was still 25.5%. Against the $5.55 billion consensus for next-quarter revenue, the print was effectively in line — the surprise was in profit, not sales.
Full-year revenue guidance moved to $20.6–$21.0 billion from $20.0–$20.5 billion, and non-GAAP EPS to $34.50–$35.50 from $32.00–$33.25. Non-GAAP operating margin is now guided to roughly 10%, a step up from the prior 9.5%–9.8% range. The board also added $500 million to the buyback authorization, which management framed as confidence rather than a lack of better uses for cash.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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