EMCOR Group reported a revenue increase of 16 percent for the second quarter of 2003; $1.1 billion compared to 2002’s second-quarter figures of $986.4 million. However, earnings fell to $8.3 million from $14.8 million a year earlier. The company said the earnings decreases resulted from a decline in its mechanical business because of tough economic conditions and a slow start to summer in the Midwest, as well as operating losses from its United Kingdom operations.
Projected profit for 2003 was reduced from $4.25-$4.60 per share to $2.90-$3.10 per share.
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For plumbers in Flint, Mich., “it’s been a heck of a year,” said Harold T. Harrington, a master plumber and pipefitter working as the business manager for Flint’s United Association of Plumbers and Pipefitters, Local 370. Read more stories in 2017 March Issue.