EMCOR Group Beats Q2 Estimates

EMCOR Group shares gained 8% in morning trade Thursday after beating Q2 estimates and raising its full year guidance. The company reported Q2 adjusted earnings of $0.95 per share, versus $0.92 last year. This beat the $0.84 analyst consensus. Revenue for the quarter was $1.90 billion, down from $1.93 billion last year and ahead of the $1.87 billion Street view.

EMCOR now expects full year 2017 revenues to be approximately $7.6 billion, the high end of the previous guidance range of $7.5 billion to $7.6 billion. The Street is at $7.64 billion. Also, the company now expects FY diluted EPS from continuing operations to be in the range of $3.40 to $3.60, up from the previous range of $3.20 to $3.50. The Street is at $3.45.

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