Emcor Group, Inc.

Strong Q2 2026 results (broad-based growth) - Revenue $5.15B, up 19.8% YoY (19.6% organic). - Operating income $547M with record 10.6% operating margin (operating income up ~32% YoY; margin +100 bps). - Diluted EPS $9.06, up ~35% YoY. - Segment highlights: Electrical Construction +24% revenue with 13.9% margin; Mechanical Construction +31% with 12.5% margin; Building Services +5.6% revenue with +26.6% operating income; Industrial Services +26% revenue.

Record backlog/RPO drives visibility (and momentum into 2H) - Total RPOs: $17.14B, up 44% YoY and +29% vs. Dec. - 95% of the sequential growth was organic; sequential growth noted as ~10% from March. - Management attributed strength mainly to network & communications / data centers (also expanding with AI infrastructure and digital transformation) plus broad-based strength in water & wastewater, healthcare, and institutional.

Full-year 2026 guidance raised (revenue and EPS up; still tempered by acquisitions’ accounting effects) - New outlook: Revenue $20.0B–$20.5B and Diluted EPS $32.00–$33.25. - Tone: higher guidance backed by first-half performance + RPO visibility; management emphasized near-term EPS can be “moderated” due to acquisition-related backlog amortization and intangible amortization / interest impacts. - Key drivers expected to persist: continued demand, disciplined execution, pricing discipline, and overhead/SGL&A leverage from revenue acceleration.