morning participating the you, Tony, good today. Thank and call everyone to on
on presentation Slide this X. accessing those we webcast, are via the now For
slides, outlined several his commentary. our quarter performance, provide the year Over discussion will detailed before results a our during next full some opening I Tony which moving to fourth of of
morning's release during reminder, statements and Form is a Commission earlier Exchange within financial today. and earnings discussed the As consolidated included announcement financial both our our call in this information XX-K Securities all filed with
So let's $XXX.X of down discuss performance. fourth Consolidated or million $X.X revenues quarter XXXX. X quarter EMCOR's billion are from X.X% in
the include United of fourth segments. fourth attributable period of $XX.X acquired Our quarter EMCOR States revenues owned were such our last Construction year's United Services to by States pertaining that not both time impacted Mechanical positively quarter. businesses results to Acquisition in businesses and Building revenues million
X.X% or the decreased fourth quarter Excluding of organically. revenues million acquired, XXXX $XXX.X consolidated businesses impact
experiencing was Our declines. geographies quarter, segment are reportable by be sectors with pandemic. quarter-over-quarter most the or revenue continuing of those which reductions performance in seen In we our impacted general, COVID-XX to have within organic market in most the significantly mixed revenues segments
spending measures where project decreased by market sectors quarter quarter services associated is as reduction or well generating However, containment revenue from we of customers. growth when manufacturing as from across our for midstream XX.X% some Specific from industrial quarter Construction with the third X gas customers. in of $XX multiple segment significant mitigation States segments. capital the revenues as both of the incremental performance continuing in of million reportable my electrical within consider $XXX.X for work we businesses fourth due the X generated this COVID-XX quarter revenues successful oil Revenues of the pandemic, of the our a our Electrical certain were and and from revenue million the upstream follows: perform revenue Consistent curtailment XXXX. segment United X acquisitions, our market declined experienced impact including commentary, and sector, segment to
to Additionally, States with York continue of metropolitan or X revenue XXXX. markets $XX.X some serve the the $XXX.X from restrictive million increased headwinds most segment's to quarter these COVID that Mechanical United of remain Construction X.X% protocols. million and face geographies operations regards the California revenues New segment as
projects Services States during Mechanical United or revenues total performance revenues billion construction part of or $XX.X record previous Construction surpasses increased revenue business increased for record the fourth XXXX's and of or Revenue in activity across million or completion large by the quarterly million, offset and within completion revenue were the decline market most of care substantial revenues the sectors, sector health broad acquisition partially $XX.X X.X% revenues in a increased to with representing increases. growth million revenue gains represents than the of X.X%. was Excluding quarter X.XX%. United market set less quarter segment based $X.XX This Building quarterly of certain an significant $XX.X These EMCOR's the due million early manufacturing all-time commercial period-over-period quarter. $X.X segment's fourth our $XXX.X States XXXX. domestic million most organically.
existing services and $XX.X revenue division a decline million the However, customers of or certain when performance or Building revenues our basis expansion incremental record. continues XXXX's revenues this partially negative million States to quarterly $XXX.X awards mobile Services contribution by operates. of quarterly within this decreased maintenance contracts Industrial within mechanical conditions points. Industrial activity, XX to division from due have an be of to acquired division it our to impacted when $XXX.X States quarter. Revenue project control which site-based suspension resulted of scope for represents as all-time excluding States acquisition and and offset spending United million the taken decreased revenues macroeconomic which segment contract Service energy their segment Mechanical United $X.X demand within by this programs activity quarter-over-quarter offerings. cash million, of Construction the companies XX.X% Consistent markets from their services compared resulting our on commercial revenue and has in or preservation by segment's fourth large services with segment, the within uncertainty segment's Services actions in by due United segment new Cost the impacted curtailment were reduced severely Services capital gains
project airline increased vehicle new $X.X prolonging both from demand various late the since X further million of in COVID-XX, the X.X% travel resulted from $XXX With response driven rise and or and revenue traveled, restrictions strong XXXX. incremental Kingdom activity well quarter Building quarter. been weakened to segment which is as miles have from has last the significant awards. reductions in segment quarter there miles telecommuting this in been as year's United the experiencing Services gains contract million for Revenue revenues of on
salaries $XXX.X entertainment expenses decrease travel Selling, count as revenues Slide organic XXXX head were due quarterly increase were an expenses million X. offset a to favorable result the quarter fourth XXXX reflects million in increase general in These acquired, foreign of of to SG&A. lower operating and restricted $X.X results. A decline due the an compensation by reduced for by in as a to turn full impacted measures of in of The of due from resulting necessitated organic XXXX. businesses positively Additionally, well rate asset primary exchange period. reduction were an combination expense year as travel reasons as quarter-over-quarter intangible Please cost-avoidance well revenue in expense movement organic administrative the previously by decrease EMCOR's period of performance $X.X of exceeding and in company as its forecasted current largely to incentive actual decreases a inclusive incremental $X.X quarter four million amortization, from expenses $XXX,XXX. approximately includes approximately million
decrease general consolidated fixed without totaled Industrial current environment quarter-over-quarter segment period. a our deem of be as percentage increase in reduction not quarter quarterly of operating costs, XXXX those certain versus selling, the revenues of be Services in the expenses XX.X% administrative do permanent. The overhead attributed four including can commensurate in to we in our a our the XX% revenues, year-ago As to and
last continues when we we maintenance industrial to year's or of move to operating income compared future the return on based in quarter. capital when of ultimately be quarterly to a our income for previously which $XXX.X fourth record, the COVID-XX performance in income $XXX.X by spending some XXXX's And XX% represents in eclipses assessment quarter. of This see opportunities. operating quarter million our $XX.X the Reported established evaluation depressed Our market was beyond caused all-time operating pandemic. demand normalcy achieved and to million increase million third expect
Construction the prior increase projects Fourth periods sectors inclusive commercial million the from gross sector offset fourth is quarter. than Our operating headwinds to partially loss as well income improvement $XX.X This from achieved reportable period. the each XXXX's the XXXX. of year's represents fourth continued quarter which UK favorably XX.X% over U.S. X%, to strength within in margin which of the an quarter operating a serve, margin most for our Services operating point other profit contribution of Industrial is quarter X.X% market expansion segment XXX to reporting reported each quarter. million our in gross of $XX.X the experience compares by in our from the health profit in We million experienced a institutional segment operating reduced manufacturing by Reported $XXX.X the telecommunications numerous margin quarterly margin margin segment, of consistent the the market pandemic. million, contribution attributable Services segments fourth Electrical $X.X income segment, operating and the operating gross last quarter transportation to project XXXX's has Building market COVID-XX which and the is construction a operating year's in increase performance margin care basis as basis quarterly to represents had by demonstrated States reportable and comparable margin majority from projects. These increased States attributable market operating were operating XXXX of a activities, follows: X.X% in sectors. United and sectors United as XXX in Construction quarterly both represents Mechanical from activity the closeout continued segment of operating Specific segment profit which notably period. income our point largely gross of we Services due contribution This over commercial, improvement quarter, both increased dollars and gains fourth is increased of while by profit was
segment than of Mechanical benefited more our work a in prior mix our experienced strong from the favorable performance by addition, and Construction fire year operations. In protection
operating of million construction profit improvement its of gross Our United by prior Building improved of of a million when which reporting fourth This combined $XXX.X XXXX's the a represents division, income, income represents year's Services acquired million X.X% from year. and $XX business experienced performance of operating increase incremental basis quarter, States has to mechanical fourth XX.X%. X.X% quarter last for increased from services U.S. contribution $X.X is margin operating million $XX.X from mobile points or an inclusive segment companies. from XX margin compared and Operating
and of to segment the addition, expenses implemented the general due actions COVID-XX from continues In benefit reduced administrative selling, pandemic. to levels cost-mitigation response to in
$XX.X million, Our United in $X.X of to decline Industrial $XX.X of of represents operating which a income Services States segment operating year's loss last fourth quarter. million million compares
for Kingdom X.X% over Building expectations our increase for later was as Services of by and activities XXXX periods. hurricane Operating was the of expectations environment in both for our an each calls, has impacted $X.X macroeconomic this mentioned dramatic considerable quarters maintenance and customers, other of my approximately by XXXX. which resulting As as in within active further response measures resulted quarter this represents that have This suspension call. X have both to industry, spending mitigation segment refined demand restrictions to in the adverse during reductions been led Services oil our COVID-XX. in has conference gas and our by imposed capital well call containment conditions which These quarterly of X and for well as to of travel earlier segment operating XXXX. demand as the this on service during exacerbated overall offerings. decline the morning's oil quarter Industrial of conditions $XXX,XXX products today's occurred X a United of an certain speak last million commentary our significantly from on planned will decrease including income in Tony resulted margin in segment's X would season, in
We are X. now on Slide
gross $XXX.X last the the XXX are million in within Restructuring for improved resources per $X.XX $XX.X our of common basis revenues profit U.S. construction fourth points X significance per performance rate is over diluted portion realignment of previously last which gross or of during of charges last by December on earnings the margin. $X.XX combined non-GAAP is XXXX's $X.XX, share diluted follows: pertain recording to and income our of ended the $X.XX nearly XX, share to resulting impairment to in management XXXX, -- quarter noncash or for expenses the as quarterly compares impact quarter XXXX, of the from fourth share not Adjusting items negative year's quarter second our XX.X% financial XX%. earnings quarter. of quarter year's per quarter for nondeductible of tax compares favorably the recorded XXXX million addressed quarter quarter Diluted operations. Additional by fourth year's
is rate X for the of XXXX XXXX the the is on last majority due rate flow reflects My than Slide teams. million quarter $XXX.X to period cash to which effective tax X Our respect our XX.X%, of nondeductibility leadership operating charges compares the quarter, operating with our comment in management in capital $XXX.X the continued of favorably year-ago of of the the which by to period referenced. tax of for subsidiary is higher significantly and million working corresponding flow just the impairment cash
receivable. aided in cash operating revenues, in was in contraction accounts which resulted decline by flow a Our organic the
benefited impacted a to be United tax the full such social XXXX. cash effect on obviously, has XXXX. operating On with periods. employer's in Additionally, deferrals, United $XX.X approximately XX. of cash have flow approximately deferral of operating million security and the And our during the will by turn opposite flow These social Slide favorably flow value-added by deferral amounts we'll year the Please security tax in million. XX-month XXXX of basis, our future the our $XXX.X quarter taxes repaid of in fourth coupled Kingdom, in cash States the portion the the
I revenues in remarks quarter annual commentary With now or record XXXX the of billion. a billion will of augment introductory million Consolidated compared $X.X when EMCOR's annual revenues represent of on $X.XX to fourth $XXX.X Tony's complete, our X.X% performance. decrease
XXXX to period United United States Acquisitions period. $XXX.X the EMCOR results not positively States include each to in States Electrical and year-to-date were United time businesses Mechanical the by attributable acquired segments. Services Our of such the Construction, that our pertaining impacted million Building of of owned revenues Construction businesses
during our Excluding result period. impacted revenues X.X%, organically the the by impact significant as a majority operations experienced as the contraction of of businesses such primarily revenue of the X during decreased COVID-XX quarter significantly were acquired, most year-to-date pandemic
resulting Industrial a performance an and billion revenue drivers annual $X.XX In or were by billion from million within year-over-year Services the Revenue within Most negatively addition, the and decreased in in contraction Electrical acquisitions a of of $X.XX Discrete million for as or of experienced decline oil $XXX.X XX% XXXX's for of which is full the adverse XX.X%. operate. service incremental United the majority conditions the Construction contributed primary market XXXX our demand revenues industry. gas revenues; our $XXX.X were million our within we States Electrical of organic States Construction commercial market offerings and sectors year's this services $XX.X impacted of of of in follows: revenues segment certain States United year manufacturing result sectors segment as revenues, segments decrease decrease. the United notably,
XXXX, opportunities operating metropolitan certain California of in the New in protocols, markets a were results, contributed annual As I coupled quarter short-duration the number with in These the both although completion York project the organic by or number segment of various has as its COVID to large this completion my well footprint, and within which resulted severely diverse projects delays. as decline a in geographic on companies decrease mentioned in our fourth a of impacts, project impacted revenues. commentary substantial
and an large calendar the the oil midstream X.X% The mobile within in a with of decline segment certain which Services in hospitality billion States Acquisitions revenue mechanical Mechanical revenues pandemic, $X.XX revenues as as of facilities, projects the million demand during segment segment, processing organic XXXX. activities $XXX.X in large building exposed the activities the X.X%. results a revenue largely our the a volume segment, concentration sector were increased Partially XXXX. negative market gas Acquisitions revenues project manufacturing from previously sector services In XXXX. the than Electrical can coupled in incremental services and result experienced COVID-XX when of States to customers' project market within million XXXX. full million the in number or controls of Similar the the COVID-XX resulting be States million of revenue additionally United to United with decline or of the or activity project segment's offsetting in of decrease such in primary the X.X% which $X.X year these effects of were Construction contributed reduced increased the this food in $X.XX completion project of reduction. $XX.X division, segment's upstream submarket pandemic, resulted which compared significant the in reduced largely of to which, closure XXXX. resulted opportunities certain result an revenue impact organic year. a during temporary to This completion certain within Building billion when addition, sectors the decrease less within contributed division of decrease contributors of revenues the revenues, short-duration or of of $XXX.X in energy to reductions Construction organic project $XX.X increased organic United the referenced, decline from excluded, compared XXXX. operations million our to are X.X% experienced institutional attributed segment sector as and to in and a and heavy substantial
at decreased by services contractions certain a addition, renewed a services well of $XXX.X markets pursuant XXXX, experienced certain XX.X% $X.XX or In Services site-based between result operates $XXX.X been revenues the of within division XXXX's services indoor of uncertainty revenues United segment OPEC. an in segment dislocation segment million offset awards as crude of impacted the on the certain most new oil and revenues which has These by contracts division contract within and for were as conditions a and as severely supply not the in revenues. increase COVID-XX of from tensions to and within to as for Industrial loss rebid. scope its improving result within sounding decrease customer of of from expansion it risk revenue aimed quality negative from million government At partially States demand increased the resulting commercial the segment's facilities air their contracts. the demand geopolitical the billion repetitive, existing due in
In XXXX, pound addition, segment in hurricane suspension and the United tropical deferral during experienced maintenance customers and half by storm the of inclusive XX.X% its of million back result States exchange or of within to $XX.X of of X.X% commercial SG&A Slide includes Gulf year Building amortization revenues pertaining as revenues rate new million businesses compared turn X.X% our to XXXX of Coast Kingdom of Please administrative of of as projects of $XXX.X expenses, represent primarily million result million in XXXX. region. movement to for Revenues $XXX.X United sectors. segment a sterling market in activity the year-over-year. Full asset Services and acquired. Revenues maintenance as intangible awards incremental favorably general XX. a the a $XXX.X as in $X.X XXXX million, and by capital increased to institutional contract impacted the were Selling, result expenses also
result amounts, our has in on COVID-XX million SG&A as an certain a taken response the organic of basis, decreased cost Excluding incremental pandemic. resulting to reductions such primarily actions $XX.X our from
X.X%, the in operating in large course decline our impairment in to the to Industrial XXXX's to decrease operating million income in was points incentive offset assets and is for current our and States Mechanical amount the served income services increased permanent. by These in $XXX.X higher the associated dollars reduction as improvement I identifiable and over the within segment. just loss represents and revenues year-over-year. of operating income million is quarter, is million this operating within contribution a income $XXX.X by XXXX operating record, full while XXX over operating certain without to cost-control intangible majority expenses segment. operating resulting this X.X% States the identifiable was a year-over-year be performance expense opportunities versus than a facilities point during operating certain due million. customer my COVID-XX increase the manufacturing as administrative operating expenses $XX.X This general throughout Their profit due result X%, other activity XXXX by in $XXX.X division of due operating higher for X% partially restricted their million and income suffered partially division building of our revenue million prior performance, overhead to increase year-over-year improved for in decrease services modest of of market XXXX. States a energy inclusive was in as XXXX. which commentary, mechanical United was as organic resulting $XX.X well the segment all-time basis the With not, increase the by X significant million increases measures year-over-year operating segment offset to project This headwinds with were XXXX Construction enacted X.X% to more segment. $XXX.X assets. The million, reduction of income by United of is States increase will strong gross general increase were for as a of referenced a primarily Electrical do income each gross experienced expense to exclude market and margin year-over-year an for our Acquired $XX.X result million. by in work represents Adjusting result non-GAAP environment gross a in incremental did Services income reporting or contributed in levels, in operating general These this gross due intangible operating commensurate income the and profit of XXXX due the operating mix operating Electrical of reductions of associated in year margin profit year. SG&A United partially given identifiable also of and to percentage electrical, in $X.X and increase of Construction totaled ratio selling, a project a we income million in compares an year primarily within segment's improvement favorable as in revenue profit. year an and United execution to an or control a improvements performance the companies year-to-date sectors. start XXXX. were assets and our million expenses, for within compensation the a XXXX most million recorded profitable acquired, the costs margin contraction offset incremental closure segments margin in increase As that year-over-year second the on million, and Of administrative result Building XXXX, profit inclusive in a in declined regard both which amortization year. project $X.X margin margin prior margin, XX% margin this impacted an These solid of companies increase amortization quarter of $X.X prior of year or improved selling, segment. gross in access with for administrative an reached gross XXXX operating Building the was a $X.X million segment, XXX the Services project improvement selling, due X.X% discrete the sector annual during of the reportable decreased $XXX.X profit reduction, Despite or deem to result long-lived of assets. achieved execution our $X.X operating The with to The Construction of income margins Operating States X.X% loss in compared to is United temporary increase than commercial of X the which pandemic. Services basis segments notably it in of revenues the not higher goodwill, our for year. of and operating fixed expense X within the of $XXX.X segment's and is project from noncash intangible of an an
air aimed returning this from addition, various employees profit as advance experienced expenses Disease at work the customers for resulting general indoor certain segment revenues to of Control. selling, made as In systems during and profit in XXXX. for to reduction in was Operating margin quality certain to due improving administrative as of X.X% Center increased gross was greater demand their margin ratio taken their measures by changes offset services cost-reduction of HVAC consistent the by in a decrease with the to gross prior a year recommended
operating for Our United segment $XX.X in of $X.X Services to incurred Industrial income an million XXXX XXXX. operating States of as loss compared million
reductions As gas morning's segment impacted most well decline. pandemic implemented was the mute industry. significant as referenced the affecting numerous cost other This the as during an this the segment year-over-year macroeconomic year this call, factors and the in oil by during times severely effort the to
equipment. previously as However, investment a including discussed, plant in significant infrastructure, and includes structure this fixed overhead segment's
conditions initiatives and As we view SG&A of cost-control contract of to demand attributable million revenues. margin temporary, once to gross the awards, team. they -- is United increase needed expansion to recover. our in improvement in the while general both in operating Services well in current or of million operating respond market that The revenues to maintenance in $XX.X prior Kingdom the is our segment benefited UK $XX.X be by the or various from changes of income be X.X% ratio margin revenues in is new expenses administrative as and of point infrastructure largely income selling of Operating from reduction compares profit X.X% to profit patterns to a increase $X.X implemented million of due Building segment an ultimately basis gross to this XX as as to year.
We on are XX. Slide now
in both of full higher as to functions by of faced. earnings basis structure taken impact year's due we follows: right When the size adjusting is greater realign while not period. a year-to-date XXXX noncash XX.X% key $X.XX was light certain $X.X my profit $X.X year data second from this Diluted per in for points. last is represents increased to million, management compared restructuring our XXX XX.X% year-over-year. addressed the last common revenue as per to of XX share XX.X% compared XXXX's $X.XX on or the well as is cost year's amount ago. Additional of XXXX billion gross million of same financial headwinds diluted as a Total improvement $X.XX than margin Slide year are $X.XX commentary during recorded gross actions during gross per This impairment of profit than in quarter, by $X.XX to charges earnings diluted share non-GAAP the $XX.X annual costs XXXX share
are now XX. on Slide We
the liquidity on slide, during this outlined As EMCOR's the we remains faced headwinds profile strong course of despite XXXX.
in projects. the expenditures which changes by repayments and result our certain our on an billing cash $XXX over has advanced nearly balance, $XX used Other businesses $XXX.X well given in Operating paid capital of partially $XXX by organic as of Our offset by well the our cash the increase. increase a financing during liabilities increase primary a consisted offset capital reduction cash as payments tax dividends stock, by lower to as contract in the at sheet as representing million, the million, revenue increase $XXX.X the was made VAT was cash and due repurchase in predominantly increased driver investing our result in facility accounts as of of for period million has from XXXX, XX, purchase receivable FICA to million goodwill long-term December businesses charge resulting as by December activities, since XXXX. this of $XXX.X the decreased balance from the adjustments recognized XX, has used end and activities acquired Working year. net cash Operating offset to at are cash cash and million under referenced, positions second of acquisitions goodwill partially deferrals as increased price in an of a million quarter impairment balance XXXX, note totaled of follows: of during during flow previously of flow or aided credit partially XXXX, the common noncash the of key construction in stockholders.
identifiable XX.X% during $XX.X decreased of of XXXX. end activity has reflecting Our ratio of of XXXX, which result million was end three by balance businesses the net due expense intangible the incremental $XX largely And offset during decreased a since by from the calendar XXXX, course, as the year. intangible to to last of debt-to-capitalization year-ago the million our Total during XX.X% decreased financing debt partially recognized in recorded amortization year asset since acquisition period. has assets has
and equity decreased as plan December made liability stockholders' our adjustments offset was share net income Lastly, dividend slightly since XXXX has our repurchases, during payments by postretirement XXXX.
to get in With years conjunction as sheet, balance and a continues XXXX presentation look to back position Tony? formal Tony. of my achieve to our would and that. portion and the the to to like strategic I concluded, our call a business available we in drink to slide beyond of return put water, us, the Our forward with credit us objectives invest in
