Record-Breaking Earnings and Cash Flow
The company reported record earnings with an EPS of $4.09, up 40% from last year, and extraordinary cash flow. Operating income increased by 50% compared to the previous year's third quarter.
Significant Revenue Growth
Third quarter revenue was $1.8 billion, a 32% increase from last year, with the Mechanical segment increasing by 39% and the Electrical segment by 8%.
Strong Backlog and Pipeline
Backlog at the end of the third quarter was $5.7 billion, a 32% year-over-year increase, with a 21% increase in same-store backlog entering the fourth quarter.
Increased Shareholder Returns
The company increased its quarterly dividend by $0.05 to $0.35 per share and returned $42 million to shareholders through share repurchases.
Remarkable EBITDA Growth
The company achieved $238 million in quarterly EBITDA, a 53% increase over the same quarter last year.