FOURTH QUARTER AND FULL YEAR 2024 PRESS RELEASE Document EXHIBIT 99.1 FOR: EMCOR GROUP, INC. News Release CONTACT: Andrew G. Backman Vice President, Investor Relations (203) 849-7938 FTI Consulting, Inc. Investors: Blake Mueller (718) 578-3706 EMCOR GROUP, INC. REPORTS FOURTH QUARTER AND FULL-YEAR 2024 RESULTS Record Quarterly and Full-Year Revenues of $3.77 billion and $14.57 billion, respectively Record Quarterly and Full-Year Diluted EPS of $6.32 and $21.52, respectively Record Remaining Performance Obligations of $10.10 billion, 14.2% Increase Year-over-Year 2025 Revenues and Diluted EPS Guidance of $16.1 billion - $16.9 billion and $22.25 - $24.00 Increases Share Repurchase Program $500 Million NORWALK, CONNECTICUT, February 26, 2025 - EMCOR Group, Inc. (NYSE: EME) today reported results for the fourth quarter and year ended December 31, 2024. Fourth Quarter 2024 Results of Operations For the fourth quarter of 2024, revenues totaled $3.77 billion, an increase of 9.6%, compared to $3.44 billion for the fourth quarter of 2023. Net income for the fourth quarter of 2024 was $292.2 million, or $6.32 per diluted share, compared to net income of $211.5 million, or $4.47 per diluted share, for the fourth quarter of 2023. Operating income for the fourth quarter of 2024 was $388.6 million, or 10.3% of revenues, compared to operating income of $289.2 million, or 8.4% of revenues, for the fourth quarter of 2023. Operating income included depreciation and amortization expense (inclusive of amortization of identifiable intangible assets) of $35.3 million and $31.2 million for the fourth quarter of 2024 and 2023, respectively. Selling, general and administrative expenses (“SG&A”) for the fourth quarter of 2024 totaled $368.5 million, or 9.8% of revenues, compared to $328.5 million, or 9.6% of revenues, for the fourth quarter of 2023. The Company's income tax rate for the fourth quarter of 2024 was 26.7%, compared to 27.5% for the fourth quarter of 2023. Remaining performance obligations as of December 31, 2024 were a record $10.10 billion compared to $8.85 billion as of December 31, 2023, an increase of $1.25 billion year-over-year. – MORE – EMCOR Reports Fourth Quarter and Fiscal Year Results Page 2 Full-Year 2024 Results of Operations Revenues for the 2024 full-year period totaled $14.57 billion, an increase of 15.8%, compared to $12.58 billion for the 2023 full-year period. Net income for the 2024 full-year period was $1.0 billion, or $21.52 per diluted share, compared to $633.0 million, or $13.31 per diluted share, for the 2023 full-year period. Net income for the 2023 full-year period included a long-lived asset impairment charge of $2.4 million, or $1.7 million after taxes. Excluding this impairment charge, non-GAAP net income for the 2023 full-year period was $634.7 million, or $13.34 per diluted share. Operating income for the 2024 full-year period was $1.34 billion, or 9.2% of revenues, compared to $875.8 million, or 7.0% of revenues, for the 2023 full-year period. Excluding the previously referenced impairment charge, non-GAAP operating income for the 2023 full-year period was $878.1 million, or 7.0% of revenues. Operating income included depreciation and amortization expense (inclusive of amortization of identifiable intangible assets) of $133.7 million and $119.0 million for the 2024 and 2023 full-year periods, respectively. Refer to the attached tables for a reconciliation of non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, and non-GAAP diluted earnings per share to the comparable GAAP measures. SG&A totaled $1.42 billion, or 9.7% of revenues, for the 2024 full-year period, compared to $1.21 billion, or 9.6% of revenues, for the 2023 full-year period. The Company's income tax rate for the 2024 full-year period was 26.9%, compared to 27.5% for the 2023 full-year period. Tony Guzzi, Chairman, President, and Chief Executive Officer of EMCOR, commented, “The Company reported outstanding results for the fourth quarter and full year of 2024. We achieved record revenues, operating income, operating margin, and diluted earnings per share for both the quarter and annual periods, reflecting strong demand for our services and exceptional execution by our team. Looking ahead, we anticipate continued momentum in demand, as evidenced by the 14.2% year-over-year increase in our remaining performance obligations." Mr. Guzzi added, “Our U.S. Construction segments posted another quarter of exceptional results, concluding an outstanding year. On a combined basis, these segments achieved record revenues and operating income for both the fourth quarter and full year. We remain confident in the future of these businesses given several tailwinds, including a strong project pipeline with a solid margin profile. Our U.S. Mechanical Construction segment had a particularly exceptional year with 26.2% annual revenue growth, most of which was organic, driven by strong performance across virtually every end market in which we operate. We believe that our investments in building information modeling, prefabrication, and digital tools have increased our productivity and led to operational efficiencies across this segment, as evidenced in part by an operating margin of 12.5% for the full year. Our U.S. Electrical Construction segment continued to perform very well as we benefited from consistent strong demand, particularly in the data center market. This segment also benefited from growth within the high-tech – MORE – EMCOR Reports Fourth Quarter and Fiscal Year Results Page 3 manufacturing market sector, as demand for our electrical construction services strengthened throughout the year, and the manufacturing and industrial market sector as we performed various projects for our energy sector customers. This performance is reflected in the segment’s revenue growth of 20.1% and operating margin of 13.4% for the full year. Despite facing several headwinds within our site-based services businesses, our U.S. Building Services segment had a solid year, with full-year 2024 revenues remaining essentially in line with those of 2023, as demand for mechanical services remained resilient, driven by energy efficiency retrofits and building automation and controls projects. Our U.S. Industrial Services segment continued to improve at a measured pace, delivering revenue growth of 9.4% and operating income growth of 25.0%, year-over-year. Our U.K. Building Services segment performed as we anticipated, reporting an operating margin of 5.0% for the full year, despite operating in a challenging macroeconomic environment.” Full-Year 2025 Guidance Based on anticipated project mix and current visibility into the coming year, EMCOR expects the following for the 2025 full year period: • Revenues to be between $16.1 billion and $16.9 billion • Operating Margins to be between 8.5% and 9.2% • Diluted Earnings Per Share to be in the range of $22.25 to $24.00 Mr. Guzzi continued, "2024 was a remarkable year for EMCOR, marked by outstanding execution for our customers and record-breaking achievements across nearly every metric for the Company. Our total and organic revenue growth of 15.8% and 13.8%, respectively, and operating income growth of 53.6%, were fueled by our execution in key market sectors such as network and communications, high-tech manufacturing, institutional, healthcare, and manufacturing and industrial. The demand for our services in these areas remained strong as these projects require excellence in specialty trade contracting and a track record of delivering quality results. Despite challenges in certain parts of the business, our team consistently demonstrated resilience and adaptability, showcasing the strength of EMCOR. We continued to realize the benefits of our organic growth initiatives as our investments in virtual design and construction and prefabrication created efficiencies that helped differentiate us from our competitors, especially when combined with the project-level expertise of our teams and the strength and flexibility of our balance sheet.” Mr. Guzzi concluded, "Looking ahead to 2025, we are confident in our ability to win and execute complex projects in key sectors and geographies. Our record remaining performance obligations of $10.10 billion provide solid visibility into 2025. Recent acquisitions, including Miller Electric Company, which closed on February 3, 2025, reflect our focus on expanding and complementing our existing capabilities to better serve our customers. We will maintain our disciplined approach to capital allocation, focusing on organic growth, strategic acquisitions, and returning capital to shareholders.” – MORE – EMCOR Reports Fourth Quarter and Fiscal Year Results Page 4 Increases Share Repurchase Program The Company also announced that its Board of Directors has authorized an additional $500 million for the purchase of shares of its outstanding common stock under its existing share repurchase program. Tony Guzzi, Chairman, President, and Chief Executive Officer of EMCOR, remarked, "Our continued outstanding performance in 2024, combined with our long-term confidence in our business, strong free cash flow and financial position, and commitment to returning cash to our shareholders as part of a balanced capital allocation strategy, are all reflected in another increase of our share repurchase program.” Repurchases under the authorization will be funded by the Company's operations. Shares will be repurchased from time to time on the open market or through privately negotiated transactions at the Company's discretion, subject to market conditions, and in accordance with applicable regulatory requirements. The share repurchase program has no expiration date and does not obligate the Company to acquire any particular amount of common stock and may be suspended, recommenced, or discontinued at any time or from time to time without prior notice. Fourth Quarter and Full-Year 2024 Earnings Conference Call Information EMCOR Group's fourth quarter conference call will be broadcast live via the internet today, Wednesday, February 26, at 10:30 AM Eastern Standard Time and can be accessed through the Company's website at www.emcorgroup.com . About EMCOR EMCOR Group, Inc. is a Fortune 500 leader in mechanical and electrical construction services, industrial and energy infrastructure and building services. This press release and other press releases may be viewed at the Company’s website at www.emcorgroup.com . EMCOR routinely posts information that may be important to investors in the “Investor Relations” section of our website at www.emcorgroup.com . Investors and potential investors are encouraged to consult the EMCOR website regularly for important information about EMCOR. EMCOR Reports Fourth Quarter and Fiscal Year Results Page 5 Forward Looking Statements: This release and related presentation contain forward-looking statements. Such statements speak only as of February 26, 2025, and EMCOR assumes no obligation to update any such forward-looking statements, unless required by law. These forward-looking statements include statements regarding anticipated future operating and financial performance; the anticipated benefits and financial impact of the acquisition of Miller Electric Company; financial guidance and projections underlying that guidance; the nature and impact of our remaining performance obligations and timing of future projects; our ability to support organic growth and balanced capital allocation; market opportunities and growth prospects; customer trends; and project mix. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated (whether expressly or implied) by the forward-looking statements. Accordingly, these statements do not guarantee future performance or events. Applicable risks and uncertainties include, but are not limited to, adverse effects of general economic conditions; domestic and international political developments and/or conflicts; changes in the specific markets for EMCOR’s services; the continued strength or weakness of the sectors from which we generate revenues; adverse business conditions; scarcity of skilled labor; productivity challenges; the nature and extent of supply chain disruptions impacting availability and pricing of materials; inflationary trends, including fluctuations in energy costs; the impact of legislation and/or government regulations; changes in interest rates; changes in foreign trade policy including the effect of tariffs; the availability of adequate levels of surety bonding; increased competition; the impact of legal proceedings, claims, lawsuits, or governmental investigations; and unfavorable developments in the mix of our business. Certain of the risk factors associated with EMCOR’s business are also discussed in Part I, Item 1A “Risk Factors,” of the Company’s 2024 Form 10-K, and in other reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov and www.emcorgroup.com . Such risk factors should be taken into account in evaluating our business, including any forward-looking statements. Non-GAAP Measures: This release and related presentation also include certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles (GAAP). Reconciliations of those non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this release. The Company uses these non-GAAP measures as key performance indicators for the purpose of evaluating performance internally. We also believe that these non-GAAP measures provide investors with useful information with respect to our ongoing operations. Any non-GAAP financial measures presented are not, and should not be viewed as, substitutes for financial measures required by GAAP, have no standardized meaning prescribed by GAAP, and may not be comparable to the calculation of similar measures of other companies. EMCOR GROUP, INC. FINANCIAL HIGHLIGHTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share information) (Unaudited) For the quarters ended December 31, For the years ended December 31, 2024 2023 2024 2023 Revenues $ 3,770,019 $ 3,439,221 $ 14,566,116 $ 12,582,873 Cost of sales 3,013,004 2,821,476 11,801,065 10,493,534 Gross profit 757,015 617,745 2,765,051 2,089,339 Selling, general and administrative expenses 368,451 328,549 1,420,188 1,211,233 Impairment loss on long-lived assets — — — 2,350 Operating income 388,564 289,196 1,344,863 875,756 Net periodic pension income (cost) 224 (279) 894 (1,119) Interest income (expense), net 9,666 2,830 31,625 (1,784) Income before income taxes 398,454 291,747 1,377,382 872,853 Income tax provision 106,293 80,232 370,237 239,524 Net income including noncontrolling interests 292,161 211,515 1,007,145 633,329 Net (loss) income attributable to noncontrolling interests — (2) — 335 Net income attributable to EMCOR Group, Inc. $ 292,161 $ 211,517 $ 1,007,145 $ 632,994 Basic earnings per common share: $ 6.35 $ 4.49 $ 21.61 $ 13.37 Diluted earnings per common share: $ 6.32 $ 4.47 $ 21.52 $ 13.31 Weighted average shares of common stock outstanding: Basic 45,989,277 47,097,762 46,616,079 47,358,467 Diluted 46,198,291 47,331,532 46,808,293 47,564,258 Dividends declared per common share $ 0.25 $ 0.18 $ 0.93 $ 0.69 EMCOR GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) December 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,339,550 $ 789,750 Accounts receivable, net 3,577,537 3,203,490 Contract assets 284,791 269,885 Inventories 95,667 110,774 Prepaid expenses and other 91,644 73,072 Total current assets 5,389,189 4,446,971 Property, plant, and equipment, net 207,489 179,378 Operating lease right-of-use assets 316,128 310,498 Goodwill 1,018,415 956,549 Identifiable intangible assets, net 648,180 586,032 Other assets 137,072 130,293 Total assets $ 7,716,473 $ 6,609,721 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 937,087 $ 935,967 Contract liabilities 2,047,540 1,595,109 Accrued payroll and benefits 751,434 596,936 Other accrued expenses and liabilities 336,555 315,107 Operating lease liabilities, current 81,247 75,236 Total current liabilities 4,153,863 3,518,355 Operating lease liabilities, long-term 261,575 259,430 Other long-term obligations 362,341 361,121 Total liabilities 4,777,779 4,138,906 Equity: Total EMCOR Group, Inc. stockholders’ equity 2,937,657 2,469,778 Noncontrolling interests 1,037 1,037 Total equity 2,938,694 2,470,815 Total liabilities and equity $ 7,716,473 $ 6,609,721 EMCOR GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2024 and 2023 (In thousands) 2024 2023 Cash flows - operating activities: Net income including noncontrolling interests $ 1,007,145 $ 633,329 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 56,678 51,822 Amortization of identifiable intangible assets 77,002 67,143 Provision for credit losses 17,303 7,859 Deferred income taxes (29,115) (16,651) Gain on sale or disposal of property, plant, and equipment (1,012) (2,057) Non-cash expense from contingent consideration arrangements 8,892 2,287 Non-cash expense for impairment of long-lived assets — 2,350 Non-cash share-based compensation expense 19,978 13,739 Other reconciling items (1,700) (2,019) Changes in operating assets and liabilities, excluding the effect of businesses acquired 252,723 141,853 Net cash provided by operating activities 1,407,894 899,655 Cash flows - investing activities: Payments for acquisitions of businesses, net of cash acquired (228,173) (96,491) Proceeds from sale or disposal of property, plant, and equipment 3,839 13,604 Purchases of property, plant, and equipment (74,950) (78,404) Net cash used in investing activities (299,284) (161,291) Cash flows - financing activities: Proceeds from revolving credit facility — 200,000 Repayments of revolving credit facility — (200,000) Repayments of long-term debt and debt issuance costs — (246,171) Repayments of finance lease liabilities (2,855) (2,776) Dividends paid to stockholders (43,384) (32,684) Repurchases of common stock (489,820) (127,713) Taxes paid related to net share settlements of equity awards (15,397) (6,060) Issuances of common stock under employee stock purchase plan 943 9,189 Payments for contingent consideration arrangements (4,852) (5,839) Net cash used in financing activities (555,365) (412,054) Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,600) 6,372 Increase in cash, cash equivalents, and restricted cash 550,645 332,682 Cash, cash equivalents, and restricted cash at beginning of year (1) 789,750 457,068 Cash, cash equivalents, and restricted cash at end of period (2) $ 1,340,395 $ 789,750 (1) Includes $0.6 million of restricted cash classified as “Prepaid expenses and other” in the Condensed Consolidated Balance Sheets as of December 31, 2022. (2) Includes $0.8 million of restricted cash classified as “Prepaid expenses and other” in the Condensed Consolidated Balance Sheets as of December 31, 2024. EMCOR GROUP, INC. SEGMENT INFORMATION (In thousands, except for percentages) (Unaudited) For the quarters ended December 31, 2024 % of Total 2023 % of Total Revenues from unrelated entities: United States electrical construction and facilities services $ 933,192 25 % $ 763,404 22 % United States mechanical construction and facilities services 1,660,600 44 % 1,472,532 43 % United States building services 755,626 20 % 802,029 23 % United States industrial services 312,680 8 % 292,476 9 % Total United States operations 3,662,098 97 % 3,330,441 97 % United Kingdom building services 107,921 3 % 108,780 3 % Consolidated revenues $ 3,770,019 100 % $ 3,439,221 100 % For the years ended December 31, 2024 % of Total 2023 % of Total Revenues from unrelated entities: United States electrical construction and facilities services $ 3,342,927 23 % $ 2,783,723 22 % United States mechanical construction and facilities services 6,405,657 44 % 5,074,803 41 % United States building services 3,114,817 21 % 3,120,134 25 % United States industrial services 1,277,190 9 % 1,167,790 9 % Total United States operations 14,140,591 97 % 12,146,450 97 % United Kingdom building services 425,525 3 % 436,423 3 % Consolidated revenues $ 14,566,116 100 % $ 12,582,873 100 % EMCOR GROUP, INC. SEGMENT INFORMATION (In thousands, except for percentages) (Unaudited) For the quarters ended December 31, 2024 % of Segment Revenues 2023 % of Segment Revenues Operating income (loss): United States electrical construction and facilities services $ 147,902 15.8 % $ 76,275 10.0 % United States mechanical construction and facilities services 220,622 13.3 % 186,094 12.6 % United States building services 40,860 5.4 % 42,052 5.2 % United States industrial services 10,209 3.3 % 12,642 4.3 % Total United States operations 419,593 11.5 % 317,063 9.5 % United Kingdom building services 4,834 4.5 % 5,461 5.0 % Corporate administration (35,863) (33,328) Consolidated operating income 388,564 10.3 % 289,196 8.4 % Other items: Net periodic pension income (cost) 224 (279) Interest income, net 9,666 2,830 Income before income taxes $ 398,454 $ 291,747 For the years ended December 31, 2024 % of Segment Revenues 2023 % of Segment Revenues Operating income (loss): United States electrical construction and facilities services $ 447,186 13.4 % $ 230,640 8.3 % United States mechanical construction and facilities services 799,613 12.5 % 530,644 10.5 % United States building services 176,720 5.7 % 182,995 5.9 % United States industrial services 44,213 3.5 % 35,375 3.0 % Total United States operations 1,467,732 10.4 % 979,654 8.1 % United Kingdom building services 21,485 5.0 % 25,681 5.9 % Corporate administration (144,354) (127,229) Impairment loss on long-lived assets — (2,350) Consolidated operating income 1,344,863 9.2 % 875,756 7.0 % Other items: Net periodic pension income (cost) 894 (1,119) Interest income (expense), net 31,625 (1,784) Income before income taxes $ 1,377,382 $ 872,853 EMCOR GROUP, INC. RECONCILIATION OF ORGANIC REVENUE GROWTH (In thousands, except for percentages) (Unaudited) The following table provides a reconciliation between organic revenue growth, a non-GAAP measure, and total revenue growth for the quarter and year ended December 31, 2024. For the quarter ended December 31, 2024 For the year ended December 31, 2024 $ % $ % GAAP revenue growth $ 330,798 9.6 % $ 1,983,243 15.8 % Incremental revenues from acquisitions (77,802) (2.2) % (251,540) (2.0) % Organic revenue growth, a non-GAAP measure $ 252,996 7.4 % $ 1,731,703 13.8 % EMCOR GROUP, INC. RECONCILIATION OF OTHER NON-GAAP MEASURES (In thousands, except for percentages and per share data) (Unaudited) In our press release, we provide non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, and non-GAAP diluted earnings per common share for the year ended December 31, 2023. The following tables provide a reconciliation between these amounts determined on a non-GAAP basis and the most directly comparable GAAP measures. For the years ended December 31, 2024 2023 GAAP operating income $ 1,344,863 $ 875,756 Impairment loss on long-lived assets — 2,350 Non-GAAP operating income $ 1,344,863 $ 878,106 For the years ended December 31, 2024 2023 GAAP operating margin 9.2 % 7.0 % Impairment loss on long-lived assets — % 0.0 % Non-GAAP operating margin 9.2 % 7.0 % For the years ended December 31, 2024 2023 GAAP net income $ 1,007,145 $ 632,994 Impairment loss on long-lived assets — 2,350 Tax effect of impairment loss on long-lived assets — (651) Non-GAAP net income $ 1,007,145 $ 634,693 For the years ended December 31, 2024 2023 GAAP diluted earnings per common share $ 21.52 $ 13.31 Impairment loss on long-lived assets — 0.05 Tax effect of impairment loss on long-lived assets — (0.01) Non-GAAP diluted earnings per common share $ 21.52 $ 13.34 _________ Amounts presented in this table may not foot due to rounding. # # #

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other guidance in this release

Text is the filed exhibit, verbatim.