The nation's largest electrical contractor enjoyed a good first quarter and is expecting its job backlog and sales to hold up for the remainder of the year. EMCOR, Norwalk, Conn., said its total revenues increased 14.5 percent in the first quarter of 2007 to $1.3 billion, compared to $1.2 billion in the first quarter of 2006. In 2006, EMCOR reported approximately $1.3 billion sales from its electrical construction and facilities services business unit, which accounts for 25 percent of its total sales.
“As we anticipated, the first quarter of 2007 saw the continued strong growth trends we experienced at the end of 2006,” said Frank MacInnis, the company's chairman and CEO. “Driven by a robust, balanced backlog, strong demand for our services across our markets and our continued focus on excellent operational execution and cost control, we reported a very good start to the year.
“The quarter saw outstanding performance in most of our operating segments, with our U.S. Electrical and U.S. Mechanical operations both generating higher revenues and substantial increases in profitability. Having positioned ourselves to take advantage of an improvement in the private sector, we began to see demand from this sector increase in 2006, and the private-sector markets have improved further as we've moved into 2007.”
As of March 31, the company's contract backlog was $3.8 billion, versus $3.5 billion at Dec. 31, 2006. Private-sector commercial and hospitality contracts represented 53 percent of total backlog at the end of the 2007 first quarter.