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EMCOR Group: AI Data Center Construction Is Exploding—Can EMCOR Capture The Opportunity?

EMCOR Group reported robust results in the fourth quarter and full year of 2025, demonstrating both strong revenue growth and operational performance. The company achieved record revenues of nearly $17 billion for the full year, marking a notable 19.7% growth for the fourth quarter alone. The adjusted earnings per share (EPS) increased by 13.8% year-over-year to $7.19 in Q4, and the full year adjusted EPS reached $25.87, reflecting a 20% year-over-year rise. Operating cash flow was strong at $1.3 billion, highlighting EMCOR Group’s effective cash management and conversion. Key drivers of this growth included strong performance in EMCOR Group’s Mechanical and Electrical Construction segments. Revenue in the U.S. Electrical Construction segment rose by 45.8%, greatly influenced by demand for data center projects particularly in the network and communications sector. This demand was less the result of the semiconductor industry, which saw some decline due to the completion of major projects.