EMCOR Expands Southeast Footprint With $865 Million Miller Electric Deal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 14 2025
0mins
Should l Buy EME?
Source: Benzinga
EMCOR Group Acquisition: EMCOR Group, Inc. announced the acquisition of Miller Electric Company for $865 million in cash, expected to close in the first half of 2025, which will enhance EMCOR's electrical capabilities and presence in high-growth sectors like data centers and healthcare.
Financial Expectations: Miller Electric is projected to generate approximately $805 million in revenue and $80 million in Adjusted EBITDA in 2024, with the deal anticipated to be modestly accretive to EMCOR's earnings per share starting in 2025.
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Analyst Views on EME
Wall Street analysts forecast EME stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 738.310
Low
754.00
Averages
754.00
High
754.00
Current: 738.310
Low
754.00
Averages
754.00
High
754.00
About EME
EMCOR Group, Inc. is a specialty contractor in the United States and a provider of electrical and mechanical construction and facilities services, building services, and industrial services. The Company’s services are provided to a range of commercial, technology, manufacturing, industrial, healthcare, utility, and institutional customers through approximately 100 operating subsidiaries. Such operating subsidiaries are organized into the various reportable segments, including the United States electrical construction and facilities services, United States mechanical construction and facilities services, United States building services, and United States industrial services. Its electrical and mechanical construction services primarily involve the design, integration, installation, start-up, operation and maintenance, and provision of services relating to roadway and transit lighting and signaling and fiber optic lines, and fire protection and suppression systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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