Thank you, and Tony, participating on today. to everyone good the morning call
accessing this those For Slide are presentation on via we webcast, now X. the
earlier our with in release Tony's next of reportable Over announcement morning. from statements other commentary and XX-Q performance the augment filed the derived segment's as both financial each review I first slides, our and opening Commission key our this data financial several will earnings operating and included consolidated Exchange as Securities Form quarter well
our quarter expand EMCOR's of let's review first performance. So
or As over XX.X% Tony $XXX.X of billion quarter consolidated revenues X mentioned, $X.XX up million XXXX. are
Building the of States owned of States attributable that were businesses EMCOR Acquisition quarter Construction revenues include and businesses Services period to revenues pertaining $XX.X year's results Electrical acquired million time first United in of such first by positively United impacted Our last each quarter. to not our segments.
a strong the Excluding of revenues businesses impact $XXX quarter-over-quarter. million XX.X% first quarter consolidated acquired, increased or approximately
commented record Before the long quarter by consolidated I fourth each highest quarter, to quarterly represent our that history. has of the quarter extent. and to growth is that persist existed and our of the revenues revenue that our challenging would $X.XX results segments only during operating the eclipsed billion some individual reporting Tony previously which the strong of environment new our continues had reviewing generated operating XXXX's in revenue segments, to quarter a highlight first on in like that
first per revenue business operating performance? simple strong, headwinds remain lose highlighting should and am prospects that answer I fact collectively us. economic record we and are why the performance our impacting to light that earnings is question equate or not did share not in might record one despite growth The it the of a So income sight diluted this that quarter of
We that organic obligations market continue strong performance our revenue to generate growth simultaneously remaining while the in of serve. we growing most sectors
the to our macroeconomic quarter currently first experienced although mostly eroded due not conditions. factors, will comparable quarter, Construction results revenues with foundation targets million we million of will of barring and I said, increased our each So our any United of reportable we annual during $XXX results external quarter. States meet cover quarter worsening our that the strong believe being XX.X% segments or have revenue. now X choppiness we some from the XXXX's of $XX.X Electrical With starting in have
quarterly revenues billion primary acquisition as the $XXX.X period-over-period market customers the commercial as quarter sectors Mechanical augmented from XXXX. manufacturing sector customers out work with growth sciences building to projects, food of of current and our by segment. of well year XXXX. supply from industries. as segment's of segment's to Mechanical XX.X% Construction of market concentrated Revenue was care projects and the this in Building life revenues experiencing protection await $X as a United the revenues of the large customers critical XXXX. significant all-time sector have decline were X% our the revenue manufacturing processing records quarterly commercial the or within e-commerce fire is segments and growth sector those we sectors within $XX.X sector, this their Electrical health telecommunications record grew growth. telecommunications -- semiconductor, established or revenue for quarter these growth quarter due United derived segment's market in our receipt the grew particularly market water the increased certain and the Offsetting wastewater, delays of majority represents the project This well demand Increased increased segment sector from was submarket these and revenues $XX.X X as the the driven of activity resulted in in each X.X% revenues services, of equipment the within the was for chain million, increases. biotech, of contributors due Services market to $XX sector to increased quarter-over-quarter. million from increases and Both delivery chains. during manufacturing, factors States an project activity while States Revenue transportation segment the revenues in sequencing most incremental million this new market was pharmaceutical organically exclusive first continued shift of demand million project our Excluding commercial Construction later the disruptions. growth in Both the supply in serve, this in submarket from
equipment repair revenues. useful acquisition respect drivers as Services divisions. and instances incremental of Revenue extend commercial Notably, have of customer $XX.X this favorably volumes, the million the HVAC increase we revenues of growth in trends contribution to in government the not resulted replacement partially with from and segment's service in scope an the mechanical delays in commercial perspective. Government chain Within services, supply lives Excluding additions equipment organically. existing increased have a available. segment's and site-based within Services, generated was when X% expansion customers million, of Mechanical were seen new a or primary readily us $XX.X number impacted site-based and have quarterly With need is to increase revenue maintenance the
building priority an environmental with addition, context automation to and there and building control improving in consumption, energy Services for of continues $XX.X for many the our efficiency or emphasis services prices a ESG. Industrial States customers of be $XXX.X their XX%. and is focus a energy light United of our of high on million In increased million both segment heightened revenues which increasing in on impact demand
see segment to strong As XXXX, the our half of X.X% of the weakening customer a pre-pandemic to patterns or that impacted to gas portfolio. will project the improved more revenues the for some X segment's of normal increases rate shop million macroeconomic year continued with back sterling first resulting exchange due last resulting businesses Unfavorable Such growth, XXXX incremental first million been negatively the in adding within increase are revenues period. oil from headwinds salaries the the acquired, half intangible this of in XX-month segment's expenses volumes continued for to field industry and revenue personnel earnings quarter season have their normal back due movements are Building in ago administrative of by quarter inclusive calls XXXX through benefits demand across we and period. from $X.X an first in with $X.X pound that utilization results to during we in U.S. against includes period. million. X.X% X. With hopeful XX%, the customer resumption functions, spending that and have from million services. organic of the segment's Please Slide we this and of of XXXX continue United Kingdom $XXX.X represent maintenance our that for $XX.X support excess asset Selling, corresponding spring $XXX.X in Unfortunately, for and of revenues I develop and turn this SG&A of of prevalent million. operating Services expenses SG&A quarter approximately EMCOR's of office general turnaround both and XXXX to $X.X will increased compared we favorably demand quarter and executed in amortization, the but year. persist, revenues administration capital some begun broader million of more $XXX.X and commented base demand contract in X.X% substantial as to refinery of second a reflect million
and being and business see continues early we during claim although after part increased XXXX an entertainment expenses to our procedures medical as Travel Additionally, medical routine both activity of pre-pandemic certain and in continue related the XXXX. to still suppressed normalize below team have also as expenses resumed increase to visits elective levels. travel,
income revenues percentage both at X.X% ago. As compares flat X.X% million income X quarter approximately was and revenues the of to previously Reported or or periods. disclosed, of for of $XXX million as revenues a of $XXX operating our for SG&A was year X.X% operating a quarter
the represented first for decreases within XXXX's is both in and U.S. XXXX gross $XX follows: reduction Our U.S. Building income gains quarterly income each As of Electrical reductions within by from operating million in decrease reminder, year's Reported X.X% performance million income represents segment's last Construction commercial in The Services Mechanical offset both and performance segment Construction, quarter which due decline previously to and was current first quarter operating The market segments. both quarterly operating segment in in and of operating period. quarter-over-quarter decreased income operating the a operating both margins U.S. from These operating and to $XX.X largely margin segments. the income comparable margin. the quarter. of a mix the a reduction in X quarter X.X% mentioned, project to attributable margin records Services as Services Building U.S. reported due gross within margins profit in change operating our this was Construction margin sector. U.S. gross overall profit U.K. Specific our Electrical Industrial is and
from favorable customers' impacted the extremely half is towards projects, which on the progression the was quarter project by current year's the year profitable weighted In benefited our of several schedules, addition, year. whereas period back the prior heavily
major labor Lastly, timelines, mentioned, delays led productivity margin to of experienced during difficulties operating supply quarter significant project due challenges, and but receipt previously in a only we efficiency not delivery as contributor delays to impacting the this is the impacted chain quarter-over-quarter. the also reduction supply which equipment. project These chain segment's and to
a ago. a from operating the quarter XXX and represents $XX.X of of year U.S. segment X.X% year's last $X.X earned income point a million operating of decrease X.X% reduction margin Construction million from basis our represents First Mechanical quarter
is experienced will As lower issues $XX.X recovery. of Mechanical typical, the Services XXXX's larger acting labor these referenced manager we price which write-downs sectors fourth segment call, X.X% quarter or less million productivity a material either a compares U.S. as Construction has disruptions or where earnings market our segment the to margin and wastewater our and number percentage of additionally currently future quarter. contractor. in contracts In self-performed general XXXX our escalation, than of or resulting and for within seek in as revenues cases, resulting during manufacturing resulting are construction gross water is supply This labor of income well million for $XX.X as Operating first from from Building portion X.X% profile. project chain revenues we
gross within from period Gross growth fixed a more work division, Mechanical a profit shift to revenue of in this during have margins profit has this less projects. projects, and the portfolio dollars the profit within typically price facilities in higher previously work, Further lower resulting increase which impacting due division quarter-over-quarter being add-on such reduction percentage gross sanitation repair declined Services favorable a in more increased services SG&A Given gross segment's other gross expenses. by including the and due as cleaning services mix project increase offerings. traditional margin decline profit offset service was the than was a and site-based than commercial by margin maintenance-type division's this COVID-XX-related to an an certain referenced a margin project capital and of performed segment's in segment
site or addition, incomplete shipments delivery chain supply productivity been efficiency costs disruptions due project Services suffered unabsorbed and our to either experienced Building has where of delayed In due segment labor equipment. has or U.S. material job to
adjusted again account increase. the Tony these pricing our we our can escalating prices his cost pressures. in adjusted referenced quarter, increased once the the have a as have Lastly, impacted we reduced surcharges commentary, be within inflationary such than fuel in after fuel rate as customers, underlying typically the for to we were experience only prices opening at quarter, faster profitability Though which to
from column, a improvement to segment $X.X million In segment's $XX.X prior since million of operating Services small profit million of operating the victory represents represents operating consecutive XXXX's second quarter in Our this U.S. our first quarter. Industrial $XX.X loss reported pandemic. the income the periods reporting Industrial
As and to basis both X.X% with shop services Operating cleaning during referenced the repair U.K. revenue normalized experienced was million Building coupled the within schedule Services and project or margin operations. revenues inclusive represents operating margin that demand of the continued more largely the favorable quarter resulting telecommunications income from for of a sector, primarily pull-through some period-over-period. $X.X on XXXX. we during projects. we field commentary, increase the improvement operating work. closeout XX of within happened in occur This of was million quarter of segment's forecasted $XX.X first Turnarounds improvement X.X% a in and my an had strength with point various commercial quarter, market
X. on We are now Slide
$XX.X Additional quarter gross Quarter the profit slides quarter prior follows: significance comparable in by or are million as the previous of the X.X%. year financial for $XXX.X higher items million of X than is addressed not
However, first XXXX's XX.X% quarter, say, growth is we new gross both in margin. gross first the gross did with Needless new XX.X% year's quarter revenues quarter, gross eclipse for established record. to X profit in quarter margin we than of and profit set our last and quarter during a lower profit which records the first gross
in quarterly earnings in common per prior reduction are share quarter the operating performance However, of my quarter. compared EPS, reasons quarter second per reporting represents reduction for first $X.XX the Diluted income discussion, first best in period, was in the we in earnings a share quarter-over-quarter covered the segment share year gross as per first XXXX for $X.XX the diluted margin. despite to a our
our impact in share repurchase reported our XX% the decrease. such in approximately an through per income reduction softened experienced net we of shares share quarter-over-quarter outstanding program Although income, net decline earnings
stock by liquidity. over of result million, March on maintains us on and decreased in now through approximately million of used financing as $XXX.X by XXXX Slide sheet XX. million year-end from balance EMCOR's hand are Cash of repurchases $XXX strength made its XX. million $XXX.X $XXX We for primarily has of cash activities common of inclusive a
during addition, during revenue utilized our operating of the $XX.X period. result quarter, as In the strong cash partially of we growth a million organic
as as March intangible operating relatively made offset has the the the exclusive expense I our case, partially to $XX the Despite the remains to due that prior been capital year we decreased increase XX.X% in capital assets debt result share equity historically given decrease with an working from of as partially our the in has from during amortization cash ratio tend that the debt, the quarter consistent of first identical quarter, in during QX. growth we which quarter. connection payroll use was the progresses. the year's million our with the first capitalization the decreased the year, lease activity offset XXXX. operating Total taken identifiable of as to and Net liabilities needs quarter at to during greater EMCOR's receivable, Working cash each by the repurchase remains in flow referenced generation due December additional by intangible $XXX cash as payments at and in resulting of million, first in awards. recognized and of incentive shareholders' of funding year-end just given anticipate to over mentioned. XXXX, as positive XXXX during Goodwill December, that XX.X% reduction just assets has increased previously our Additionally, incentive be of by this XX, decrease period benefits accounts nearly in modestly during acquisition have to more nearly largely than XXXX a of accrued completed a revenue
I portion call return we under invest well our the through As execute to to allocation increased to Tony. of authorization periods. Tony? as committed our slide our activity capital Board our remain We that this presentation to and in the progress us With to future evidenced now we my our borrowing morning's will our credit return repurchase strategy Directors capital announcement shareholders date XXXX today's available of and balance complete, by business, conjunction both stated agreement under objectives strategic share to as in our repurchase before, continue sheet capacity will the our share against program. as with to as has us enable
