Here are 1-3 brief analogies for EMCOR (EME):

• The Quanta Services for the internal infrastructure of commercial buildings and industrial plants.
• The large-scale building systems contractor version of Johnson Controls, handling everything from HVAC to electrical and plumbing for major facilities.

• Electrical Construction Services: Design, installation, and maintenance of complex electrical systems for commercial, industrial, and institutional facilities.
• Mechanical Construction Services: Design, installation, and maintenance of HVAC, plumbing, piping, and fire protection systems.
• Facilities Services: Integrated facility management, operations, maintenance, and energy efficiency solutions for clients across various sectors.
• Industrial Services: Specialized mechanical and electrical maintenance, fabrication, and turnaround services for industrial and manufacturing plants.

EMCOR (Symbol: EME)

EMCOR Group Inc. primarily sells its services to other companies, organizations, and governmental entities, making it a business-to-business (B2B) operation. Due to client confidentiality and the nature of their contract-based work, EMCOR does not publicly disclose the names of its individual major customer companies. Therefore, specific customer company names and symbols cannot be provided.

Instead, EMCOR broadly categorizes its customers into the following segments:

• Commercial and Industrial Businesses: This includes a wide range of private sector companies across various industries (e.g., manufacturing, technology, retail) that require electrical, mechanical, construction, and facilities maintenance services for their buildings and infrastructure.
• Institutional Entities: This segment comprises organizations such as hospitals, universities, K-12 schools, data centers, airports, and other large-scale public and private facilities.
• Governmental Entities: EMCOR serves federal, state, and local government agencies, as well as foreign governmental entities, providing services for public infrastructure, military bases, and government facilities.
• Power and Utility Sector: This specific sector includes companies involved in power generation, transmission, and distribution, for which EMCOR provides specialized infrastructure services.

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Anthony J. Guzzi, Chairman, President and Chief Executive Officer

Anthony J. Guzzi has been the President of EMCOR Group Inc. since October 2004, Chief Executive Officer since January 3, 2011, and Chairman of the Board since June 1, 2018. Before joining EMCOR, Mr. Guzzi served as President of the North American Distribution and Aftermarket Division of Carrier Corporation from August 2001, a company involved in manufacturing and distributing commercial and residential HVAC and refrigeration systems. He previously worked as an engagement manager with McKinsey & Company from 1993 to 1996. Mr. Guzzi also served as a Light Infantry Captain in the U.S. Army from 1986 to 1991 and is Ranger qualified. He holds a Bachelor of Science from The United States Military Academy at West Point and an MBA from Harvard Business School. He co-founded the Johnny Mac Soldiers Fund, which provides educational support to children and spouses of fallen soldiers.

Jason R. Nalbandian, Senior Vice President, Chief Financial Officer, and Chief Accounting Officer

Jason R. Nalbandian was appointed Senior Vice President, Chief Financial Officer, and Chief Accounting Officer of EMCOR Group, Inc., effective April 1, 2024. He joined EMCOR in May 2014 as Director of Accounting and Analysis and has since held various positions of increasing responsibility, including Assistant Controller, Controller, and Vice President. Mr. Nalbandian served as Chief Accounting Officer since January 2022 and Senior Vice President since December 2022. Before EMCOR, he worked in the audit practice at Ernst & Young LLP. He is a Certified Public Accountant and earned both a bachelor's and a master's degree in accounting from Fairfield University.

Maxine Lum Mauricio, Chief Administrative Officer, Executive Vice President, General Counsel and Corporate Secretary

Maxine Lum Mauricio serves as Chief Administrative Officer, Executive Vice President, General Counsel and Corporate Secretary of EMCOR Group. She has held the role of General Counsel and Corporate Secretary since January 4, 2016.

Michael P. Bordes, President and CEO, EMCOR Building Services

Michael P. Bordes serves as the President and Chief Executive Officer of EMCOR Building Services.

Daniel Fitzgibbons, President and CEO, EMCOR Electrical Construction Services

Daniel Fitzgibbons is the President and Chief Executive Officer of EMCOR Electrical Construction Services.

1. The cyclicality of the non-residential construction market and general economic conditions, which could lead to a sharp downturn in spending, slower project awards, and declining revenue and adjusted EBITDA.
2. The scarcity of skilled labor and associated wage pressures, which could constrain the company's ability to execute on its project backlog and impact profit margins.
3. Supply chain disruptions and inflationary trends, affecting the availability and pricing of materials and energy costs.

EMCOR Group, Inc. (symbol: EME) operates primarily within three main divisions: Construction Services (electrical and mechanical construction), Building Services (facilities management), and Industrial Services. The addressable markets for these services are primarily in the United States.

Electrical Construction

The U.S. electrical services market was valued at approximately USD 163.9 billion in 2024 and is projected to reach USD 294.6 billion by 2034. Within this, the electrical construction market alone was valued at over USD 115 billion in 2024. Another estimate for the U.S. electrical contractors market indicates a size of USD 225.0 billion in 2022, with a projected growth to USD 283.74 billion by 2028. The Electricians industry in the United States is expected to reach an estimated total revenue of USD 312.2 billion in 2025.

Mechanical Construction

The U.S. mechanical construction services market is projected to grow by USD 70.44 billion over the next three years. More broadly, the United States mechanical, electrical, and plumbing (MEP) services market, which includes mechanical services, was valued at USD 45.32 billion in 2024 and is expected to reach USD 102.25 billion by 2032. Another report indicates the U.S. MEP services market size at USD 32.55 billion in 2025, forecasted to reach USD 45.16 billion by 2030, with mechanical services accounting for 41.5% of this market in 2024.

Facilities Management Services

The addressable market for facilities management services in the United States is substantial. In 2024, the U.S. facility management market size was valued at approximately USD 315.78 billion and is expected to grow to USD 442.89 billion by 2030. Other estimates place the U.S. facility management market size at USD 365.93 billion in 2025, projected to reach USD 422.8 billion by 2030, or around USD 373.35 billion in 2024, with a projection to reach USD 668.61 billion by 2034. Furthermore, the United States Facility Management Market is estimated to reach USD 484.71 billion by 2033.

Industrial Services

For industrial services in the U.S., the market size was valued at USD 10.32 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 5.37% from 2025 to 2034. Another source estimated the U.S. industrial services market at USD 8.77 billion in 2024, expecting it to reach approximately USD 16.86 billion by 2034.

EMCOR (EME) is expected to drive future revenue growth over the next two to three years through several key strategies and market dynamics:

1. Robust Demand in Key End-Markets: EMCOR anticipates continued strong demand across several high-growth sectors, including data centers, traditional and high-tech manufacturing, network and communications, healthcare, water and wastewater, HVAC services, and building controls and retrofit projects. This robust project pipeline is a significant driver for future revenue.
2. Strategic Acquisitions: The company utilizes strategic acquisitions to expand its capabilities and enhance its market presence in key sectors and geographies. Notable acquisitions like Miller Electric and John W. Danforth Company have contributed significantly to revenue and backlog, expanding EMCOR's service offerings.
3. Growth in Remaining Performance Obligations (RPOs): EMCOR has consistently reported record levels of RPOs, which represent a strong backlog of signed projects. This substantial and growing backlog, particularly in network and communications, provides clear visibility into future revenue generation.
4. Expansion of Service Offerings: EMCOR aims to expand its portfolio of service offerings to enhance its presence in existing and new core markets. This includes growing its Mechanical Services business through maintenance agreements, repair services, HVAC retrofits, and building controls upgrades.
5. Sharpened Focus on U.S. Core Markets: Following the strategic divestiture of its U.K. business, EMCOR is sharpening its focus on its core U.S. markets. This move is expected to enhance operational efficiency, improve operating margins, and concentrate resources on high-growth opportunities within the United States.