Emcor Group, Inc. (EME) recently received a contract for its subsidiary Dynalectric Company for the installation of electrical systems at the Georgia Gwinnett College. Financial details for this contract have not been disclosed yet.
Headquartered in Norwalk, CT, Emcor is one of the largest electrical,and mechanical construction and facilities services firms in the U.S. and the U.K., specializing in the design, integration, installation, start-up, testing, operation and maintenance of complex mechanical and electrical systems.
Since its inception in 1966, Emcor provides services to a broad range of commercial, industrial, utility and institutional customers through its operating subsidiaries and joint venture companies.
Dynalectric will be responsible for installing various electrical systems in the new Allied Health and Science Building spanning 90,000 square feet space of the LEED (Leadership in Energy and Environmental Design) silver certified campus. Located in Lawrenceville, GA, this three-story building has three physics laboratories, six biology laboratories, seven chemistry laboratories, and one lab each for psychology, exercise science, IT systems and digital media.
Apart from installation services, Dynalectric will also be responsible for managing the lighting controls, fire alarm systems, and the telecommunications systems for audio/visual and security systems.
In Dec 2012, Dynalectric received another similar contract for the installation of electrical systems at the new Resiliency Campus at Fort Benning, GA. With this steady inflow of new orders Emcor reported solid results in first quarter 2013.
The company reported 1.9% year-over-year increase in revenues to $1.57 billion with earnings of 45 cents per share, beating the Zacks Consensus Estimate by 2.27%. The average earnings surprise for trailing four quarters for Emcor is 10.16%. Sequential backlog improvements, organic revenue growth and strong profitability amid challenging market conditions are the growth drivers for this stock. The company also has a high earnings growth expectation of 14.05%.
With all these positives, Emcor looks promising in the long run. Emcor currently has Zacks Rank #3 (Hold). Other sector participants worth considering at the moment include Primoris Services Corp (PRIM) with Zacks Rank #1 (Strong Buy) and Orion Marine Group (ORN) and Quanta Services, Inc. (PWR), each carrying Zacks Rank #2 (Buy).
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