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Quarter Three 2012 October 25, 2012. EMCOR Participants. Tony Guzzi President & Chief Executive Officer Mark Pompa EVP & Chief Financial Officer Mava Heffler VP, Marketing & Communications Sheldon Cammaker EVP & General Counsel Kevin Matz EVP, Shared Services. 2.
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Quarter Three 2012 October 25, 2012
EMCOR Participants • Tony Guzzi President & Chief Executive Officer • Mark Pompa EVP & Chief Financial Officer • Mava Heffler VP, Marketing & Communications • Sheldon Cammaker EVP & General Counsel • Kevin Matz EVP, Shared Services 2
2012 Qtr. 3 Executive Summary • Operating environment remains challenging • Revenues increased 8.4% / Organic revenue growth 6.5% • Seeing SG&A leverage with SG&A% of revenue of 8.4% • All segments profitable with quarter operating margins 4.3% • EFS operating margins higher at 5.3% • Refinery shop and field work strong • Mechanical services strong / Government services performing well • Site-based contract start-ups costs decreasing • USM much improved • Diverse backlog of $3.38 billion, reflects continued trend to more private sector work • Balance sheet remains strong and liquid, including $474.4 million cash 3
2012 – Qtr. 3 Financial Results Highlights • Revenues increased 8.4% year-over-year to $1.61 billion • Organic growth 6.5% • Revenue growth in all business segments, except U.K. construction and facilities services: • U.S. electrical construction & facilities services 9.9% • U.S. mechanical construction & facilities services 8.2% • U.S. facilities services 12.7% • UK construction & facilities services -11.0% • SG&A increased $2.7 million to $134.5 million or 8.4% of revenues vs. $131.8 million or 8.9% in Qtr. 3 2011 4
2012 – Qtr. 3 Financial Results Highlights • Operating income $68.6 million or 4.3% of revenues vs. $56.5 million or 3.8% of revenues in Qtr. 3 2011 • Qtr. 3 income tax rate – 40.5% • Qtr. 3 cash provided by operations $53.6 million, YTD $42.0 million • Balance sheet cash $474.4 million 5
Key Financial Data – Income Statement ($ Thousands, except per share information) (Unaudited) 6
Key Financial Data – Income Statement ($ Thousands, except per share information) (Unaudited) • Amount is net of tax effect of $1.2 million 7
Key Financial Data – Balance Sheet ($ Thousands) 8
Backlog ($ Millions) $4,240 $3,742 $3,382 $3,341 $3,328 $2,974 $3,106 $2,692 Commercial Hospitality Industrial Healthcare Institutional Transportation Water & Wastewater 9
Outlook • Private non-residential market has measured improvement, but still not broad-based • Expect continued excellence in large project execution • Small project demand and resulting performance improving • Industrial markets solid • Cost control yielding leverage as growth returns • Strong and liquid balance sheet 10