Emcor Group misses 4Q profit forecasts

NORWALK, Conn. (AP) _ Emcor Group Inc. (EME) on Thursday reported fourth-quarter net income of $42.5 million.

The Norwalk, Connecticut-based company said it had profit of 65 cents per share. Earnings, adjusted for amortization costs and to account for discontinued operations, came to 68 cents per share.

The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The construction and maintenance company posted revenue of $1.71 billion in the period, which beat Street forecasts. Analysts expected $1.67 billion, according to Zacks.

For the year, the company reported profit of $168.7 million, or $2.52 per share. Revenue was nearly unchanged at $6.42 billion.

Emcor Group expects full-year earnings to be $2.65 to $2.95 per share, with revenue expected to be $6.6 billion.

Emcor Group shares have fallen slightly more than 2 percent since the beginning of the year. The stock has fallen slightly in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EME at http://www.zacks.com/ap/EME

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Keywords: Emcor Group, Earnings Report

Source Article from http://finance.yahoo.com/news/emcor-group-misses-4q-profit-155450302.html

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