EMCOR : Quarter 2 Earnings Call

Quarter Two 2021 Financial Results

July 29, 2021

Second Quarter 2021 Financial Results

Forward-Looking Statements and Non-GAAP Financial Disclosures

Forward Looking Statements:

This material and related presentation contain certain forward-looking statements. Any such comments speak only as of the date on the cover of this slide deck and EMCOR assumes no obligation to update any such forward-looking statements, unless required by law. These forward-looking statements may include statements regarding anticipated future operating and financial performance, the nature and impact of our remaining performance obligations, our ability to pursue acquisitions, our ability to return capital to shareholders, market opportunities, market growth, and customer trends. 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 are no guarantee of future performance or events. Such risks and uncertainties include, but are not limited to, adverse effects of general economic conditions, changes in the political environment, changes in the specific markets for EMCOR's services, adverse business conditions, availability of adequate levels of surety bonding, increased competition, unfavorable labor productivity, mix of business, and the impact of the COVID-19 pandemic on our revenue and operations. Certain of the risk factors associated with EMCOR's business are also discussed in Part I, Item 1A. "Risk Factors," of the Company's 2020 Form 10-K, and in other reports filed from time to time with the Securities and Exchange Commission and available at www.sec.govand www.emcorgroup.com. Such risk factors should be taken into account in evaluating any forward-looking statements.

Non-GAAP Measures:

This material and related presentation also include certain financial measures, including non-GAAP operating income, non-GAAP diluted EPS and non-GAAP operating margin, 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 the press release that accompanies this presentation. 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.

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Second Quarter 2021 Financial Results

EMCOR Participants

	Tony Guzzi	Chairman, President & Chief Executive Officer
	Mark Pompa	EVP & Chief Financial Officer
	Maxine Mauricio	EVP & General Counsel
	Kevin Matz	EVP, Shared Services

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Second Quarter 2021 Financial Results

2021 Qtr. 2 Executive Summary

• Strong Qtr. 2 performance
• • Record Qtr. 2 for revenues, gross profit, operating income, net income, and diluted earnings per share
  • Total revenues of $2.44 billion

‒	Operating Income (Loss)	2021	OI %	2020	OI %
	GAAP	$133.4M	5.5%	$(122.6)M	(6.1)%
	Non-GAAP	$133.4M	5.5%	$110.1M	5.5%
‒	Diluted EPS	2021	2020	$
	GAAP	$1.78	$(1.52)
	Non-GAAP	$1.78	$1.44	$0.34

• Total Remaining Performance Obligations (RPOs) increased by $516 million or 11.2% from 6/30/20

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Second Quarter 2021 Financial Results

2021 Qtr. 2 Executive Summary

• U.S. Electrical Construction and Facilities Services segment revenues increased by $79.1 million vs. Qtr. 2 2020 with an operating margin of 8.7%
• U.S. Mechanical Construction and Facilities Services segment revenues increased by $168.2 million vs. Qtr. 2 2020 with an operating margin of 8.3%
• U.S. Building Services segment revenues increased by $145.5 million vs. Qtr. 2 2020 with an operating margin of 4.9%
• U.S. Industrial Services segment revenues decreased by $5.9 million vs. Qtr. 2 2020 with an operating margin of -0.1%
• U.K. Building Services segment revenues increased by $36.7 million vs. Qtr. 2 2020 with an operating margin of 5.4%

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