Plumbing and Mechanical

EMCOR Reports Second Quarter Increase

September 3, 2002
EMCOR Group announced a 27.6 percent increase in net income for the second quarter of 2002. Revenues totaled $986.4 million compared to $869.5 million in the second quarter of 2001. The second quarter of 2002 represents the first full quarter of revenue and earnings contribution from the 19 companies EMCOR acquired from Comfort Systems USA.

In other news, the company has entered into a three-year agreement with Bank One to provide facilities and maintenance services for all of Bank One’s locations nationwide, about 2,220 facilities. The agreement, expected to generate nearly $100 million in base revenues, includes electrical, plumbing and HVAC systems.

EMCOR hired approximately 430 employees who had previously provided these services to Bank One; the EMCOR Facilities Services group will supplement them.