EMCOR Raises 2017 EPS Guidance; Board Authorizes Additional Share Repurchase

(RTTNews) - EMCOR Group, Inc. (EME) maintained its 2017 revenue guidance of approximately $7.6 billion. The company now expects 2017 earnings per share from continuing operations to be in the range of $3.70 to $3.80, up from the previous range of $3.40 to $3.60.

For the third quarter of 2017, net income from continuing operations attributable to EMCOR was $64.8 million, or $1.09 per share, compared to $51.9 million, or $0.85 per share, for the third quarter of 2016. Revenues were $1.89 billion compared to $1.92 billion, a year ago.

The company also announced that its Board has authorized a new share repurchase program for the company to repurchase up to an additional $100 million of its outstanding common stock.