Analyst Consensus ?
ConsensusBuy11 ratings
Bullish872.7%
Neutral327.3%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
EMCOR Group, Inc. · EME · FY2026 Q1 · Calendar Q2 2026
EMCOR Q1 2026: Record Revenue and Raised Guidance as Data-Center Demand Accelerates
EMCOR delivered a record Q1 2026, with revenue of $4.63 billion (up 19.7% YoY) and EPS of $6.84 (up 30%), beating consensus on both lines. Data-center construction remained the primary growth engine, with remaining performance obligations rising to $15.62 billion, up 32.9% YoY. Management raised full-year guidance, citing continued demand visibility and disciplined execution. Despite the beat, shares declined 3.5% on the report against a flat SPY, likely reflecting margin-mix concerns as GMP and pass-through contracts take a larger share of new awards.
Reported Before market openNYSEIndustrials
$29.95B market cap
100quality score
Company context
Snapshot as of publicationEMCOR Group, Inc. specializes in delivering comprehensive electrical and mechanical construction services, alongside integrated facilities management solutions, primarily serving clients across the United States and the United Kingdom. The company's construction expertise spans the entire project lifecycle, encompassing initial design and integration through installation, commissioning, operation, and ongoing maintenance. This includes vital electrical infrastructure such as power transmission, distribution, and generation systems, advanced energy efficiency solutions, and premise-specific electrical and lighting systems. They also implement sophisticated process instrumentation for critical industries like refining, chemical processing, and food production, in addition to low-voltage networks covering fire alarms, security, process controls, and voice/data communications. Furthermore, EMCOR handles public infrastructure projects involving roadway and transit lighting, signaling, and fiber optic lines.…
Earnings scorecard
Reported versus consensus
Reported EPS
$6.84
Consensus $6
EPS surprise
+15.9%
Reported versus consensus
Reported revenue
$4.63B
Consensus $4.20B
Revenue surprise
+10.2%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$672.48Previous close
$713Low
$881.67Average
$1,100High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Jul 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Jun 16, 2026 |
| UBS | Buy | Buy | Maintain | Mar 6, 2026 |
| Stifel | Buy | Buy | Maintain | Mar 3, 2026 |
| DA Davidson | Buy | Buy | Maintain | Feb 27, 2026 |
| Baird | Outperform | Outperform | Maintain | Feb 27, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Oct 8, 2025 |
| Keybanc | Overweight | Downgrade | Jan 17, 2023 | |
| Sidoti & Co. | Buy | Neutral | Upgrade | May 16, 2022 |
| Stifel Nicolaus | Buy | Buy | Maintain | Aug 1, 2019 |
| Imperial Capital | In Line | In Line | Maintain | Feb 27, 2013 |
| Gilford Securities | Buy | Buy | Maintain | Jan 10, 2013 |
| FBR Capital | Market Perform | Outperform | Downgrade | Jul 27, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $672.48. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Oppenheimer | Brent Thielman | $1,100 | $855.26 | +63.6% | May 28, 2026 |
| Stifel Nicolaus | Analyst unavailable | $918 | $876.17 | +36.5% | Apr 30, 2026 |
| Stifel Nicolaus | Analyst unavailable | $901 | $793.35 | +34.0% | Apr 16, 2026 |
| UBS | Avinatan Jaroslawicz | $945 | $708.49 | +40.5% | Mar 6, 2026 |
| Stifel Nicolaus | Brian Brophy | $814 | $744.86 | +21.0% | Mar 2, 2026 |
| Stifel Nicolaus | Brian Brophy | $754 | $694.21 | +12.1% | Jan 26, 2026 |
| D.A. Davidson | Analyst unavailable | $800 | $648 | +19.0% | Oct 31, 2025 |
| Robert W. Baird | Analyst unavailable | $713 | $648 | +6.0% | Oct 31, 2025 |
| UBS | Avinatan Jaroslawicz | $750 | $625 | +11.5% | Aug 5, 2025 |
Track every rating change on EME the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-3.5%
Event window
SPY move
-0.0%
Same window
Abnormal move
-3.5%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
+1.8%
Up to 20 sessions
EMESPY benchmark
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What changed
Q1 2026 set new records with revenue of $4.63 billion and EPS of $6.84, beating consensus estimates of $5.90 EPS and $4.20 billion revenue by 15.9% and 10.2% respectively. Management raised full-year revenue guidance from $17.75-$18.5 billion to $18.5-$19.25 billion, and EPS guidance from $27.25-$29.25 to $28.25-$29.75. RPOs grew to $15.62 billion from $13.25 billion in the prior quarter. Capex outlook shifted from stable to increasing, with 2026 spending projected at $115-$125 million for prefabrication facility expansion. The stock fell 3.5% on the report, against a flat SPY, but subsequently drifted +1.8%.
Guidance delta
Full-year 2026 revenue guidance was raised from $17.75-$18.5 billion to $18.5-$19.25 billion, and EPS guidance was raised from $27.25-$29.25 to $28.25-$29.75. Guidance sentiment shifted from maintained (Q4 2025) to raised (Q1 2026).
Key takeaways
- Q1 2026 revenue of $4.63 billion and EPS of $6.84 both set records, beating consensus by 10.2% and 15.9% respectively.
- RPOs grew to $15.62 billion, up 32.9% YoY, providing high revenue visibility for future quarters.
- Full-year guidance was raised on both revenue and EPS, reflecting management confidence in the pipeline.
- Data-center construction remains the dominant growth driver, supplemented by water-wastewater and institutional projects.
- Capex is increasing to $115-$125 million, primarily for prefabrication facility expansion to boost productivity.
- Despite the beat, shares fell 3.5%, likely on margin-mix concerns as GMP and pass-through contracts increase.
Management priorities
- Expand prefabrication capacity and upgrade fabrication facilities with 2026 capex.
- Pursue low-to-mid voltage electrical and selective construction acquisitions.
- Grow geographic footprint in Mountain West, Arizona, Southeast, and Midwest.
- Continue training, virtual design, and productivity initiatives across all segments.
- Move more GMP contracts toward fixed-price where possible to protect margins.
Related earnings events
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-30T09:20:56.046907+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T09:20:56.044172+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.