EMCOR Group Inc. (NYSE:EME) Q4 2014 Earnings Conference Call - Final Transcript

Feb 26, 2015 • 11:00 am ET


EMCOR Group Inc. (NYSE:EME) Q4 2014 Earnings Conference Call - Final Transcript


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Good morning. My name is Genisha and I'll be your conference operator today. At this time, I would like to welcome everyone to the EMCOR Group First Quarter 2015 Earnings Call.

[Operator Instructions] Mr. Nathan Elwell, with FTI Consulting, you may begin.

Nathan Elwell

Thank you, Genisha and good morning, everyone. Welcome to the EMCOR group conference call. We are here today to discuss the company's 2015 first quarter results, which were reported earlier this morning. I would like to turn the call over to Mr. Kevin Matz, Executive Vice President of Shared Services. Who will introduce the rest of the team? Kevin, please go ahead.

Kevin Matz

Thank you, Nathan and good morning everyone. Welcome to EMCOR group's earning conference call for the first quarter of 2015. Can't believe, it is already here. For those of you, who are accessing the call via the internet and our website welcome and we hope you have arrived at the beginning of our slide presentation that will accompany our remarks today.

Slide two depicts the executives who are with me to discuss the quarter's results. They are Tony Guzzi, our President and Chief Executive Officer; Mark Pompa, Executive Vice President and Chief Financial Officer; Mava Heffler, Vice President of Marketing and Communications; and our Executive Vice President and General Counsel, Sheldon Cammaker.

For call participants not accessing the conference call via the internet. This presentation including the slides will be archived in the Investor Relations section of our website under presentations. You can find this at emcorgroup.com. Before we begin, I want to remind you that this discussion may contain certain forward-looking statements.

Such statements are based upon information available to EMCOR management's as of this date, and EMCOR assumes no obligation to update, any such forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.

Accordingly, these statements are no guarantee of future performance. Such risks and uncertainties include, but are not limited to, adverse effects of general economic conditions, changes in the political environment, changes in the specific markets for EMCOR's services, adverse business conditions, increased competition, mix of business, and risks associated with foreign operations. Certain of the risks and factors associated with EMCOR's business, are also discussed in the company's 2014 Form 10-K and other reports filed from time-to-time with the Securities and Exchange Commission.

With that said, please let me turn the call over to Tony. Tony?

Tony Guzzi

Thanks, Kevin and I am going to talking to Pages three through four. First good morning and thank you for your interest in EMCOR. The first quarter proved to be more challenging than we originally anticipated. We had two external factors beyond our control. Refinery turnaround approvals and our industrial services segment as a result of the Refinery Operator Strike and the extreme cold weather that affected our project execution and our billing services and construction segments.

Weather, was a net negative for us in Q1 2015 versus Q1 2014, whether was a net