EMCOR Group, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
EME$645.39-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 15. Exhibits and Financial Statement Schedules
| (a)(1) | The following consolidated financial statements of EMCOR Group, Inc. and Subsidiaries are filed as part of this report under Part II, Item 8. Financial Statements and Supplementary Data: |
|---|---|
| Financial Statements: | |
| Consolidated Balance Sheets - December 31, 2025 and 2024 | |
| Consolidated Statements of Operations - Years Ended December 31, 2025, 2024, and 2023 | |
| Consolidated Statements of Comprehensive Income - Years Ended December 31, 2025, 2024, and 2023 | |
| Consolidated Statements of Cash Flows - Years Ended December 31, 2025, 2024, and 2023 | |
| Consolidated Statements of Equity - Years Ended December 31, 2025, 2024, and 2023 | |
| Notes to Consolidated Financial Statements |
Reports of Independent Registered Public Accounting Firm (PCAOB ID:42)
| (a)(2) | The following financial statement schedule is included in this Form 10-K: Schedule II - Valuation and Qualifying Accounts |
|---|---|
| All other schedules are omitted because they are not required, are inapplicable, or the information is otherwise shown in the consolidated financial statements or notes thereto. | |
| (a)(3) | The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index. |
| (b) | Exhibit Index |
| ExhibitNo. | Description | Incorporated By Reference to orFiled Herewith, as Indicated Below |
| 3(a-1) | Restated Certificate of Incorporation of EMCOR filed December 15, 1994 | Exhibit 3(a-5) to EMCOR’s Registration Statement on Form 10 as originally filed March 17, 1995 (“Form 10”) |
| 3(a-2) | Amendment dated November 28, 1995 to the Restated Certificate of Incorporation of EMCOR | Exhibit 3(a-2) to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 1995 (“1995 Form 10-K”) |
| 3(a-3) | Amendment dated February 12, 1998 to the Restated Certificate of Incorporation of EMCOR | Exhibit 3(a-3) to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 1997 (“1997 Form 10-K”) |
| 3(a-4) | Amendment dated January 27, 2006 to the Restated Certificate of Incorporation of EMCOR | Exhibit 3(a-4) to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 2005 (“2005 Form 10-K”) |
| 3(a-5) | Amendment dated September 18, 2007 to the Restated Certificate of Incorporation of EMCOR | Exhibit A to EMCOR’s Proxy Statement dated August 17, 2007 for Special Meeting of Stockholders held September 18, 2007 |
| 3(a-6) | Certificate of Amendment of Restated Certificate of Incorporation of EMCOR | Exhibit 3.1 to EMCOR’s Report on Form 8-K (Date of Report June 8, 2023) |
| 3(b) | Second Amended and Restated By-Laws of EMCOR | Exhibit 3.1 to EMCOR’s Report on Form 8-K (Date of Report October 25, 2022) |
| 4(a) | Seventh Amended and Restated Credit Agreement dated as of December 20, 2023 by and among EMCOR and certain subsidiaries and Bank of Montreal, as Agent and the lenders listed on the signature pages thereof | Exhibit 4(a) to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Form 10-K”) |
| 4(b) | Description of Registrant’s Securities | Exhibit 4(e) to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 2020 (“2020 Form 10-K”) |
| 10(a) | Form of Severance Agreement (“Severance Agreement”) between EMCOR and each of R. Kevin Matz and Mark A. Pompa | Exhibit 10.1 to EMCOR's Report on Form 8-K (Date of Report April 25, 2005) |
| 10(b) | Form of Amendment to Severance Agreement between EMCOR and each of R. Kevin Matz and Mark A. Pompa | Exhibit 10(c) to EMCOR’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2007 (“March 2007 Form 10-Q”) |
| 10(c) | Letter Agreement dated October 12, 2004 between Anthony Guzzi and EMCOR (the “Guzzi Letter Agreement”) | Exhibit 10.1 to EMCOR’s Report on Form 8-K (Date of Report October 12, 2004) |
| 10(d) | Form of Confidentiality Agreement between Anthony Guzzi and EMCOR | Exhibit C to the Guzzi Letter Agreement |
| 10(e) | Form of Indemnification Agreement between EMCOR and each of its officers and directors | Exhibit 10.1 to EMCOR’s Report on Form 8-K (Date of Report October 27, 2025) |
| 10(f-1) | Severance Agreement (“Guzzi Severance Agreement”) dated October 25, 2004 between Anthony Guzzi and EMCOR | Exhibit D to the Guzzi Letter Agreement |
| 10(f-2) | Amendment to Guzzi Severance Agreement | Exhibit 10(g-2) to the March 2007 Form 10-Q |
| 10(g-1) | Change of Control Agreement dated as of October 25, 2004 between Anthony Guzzi (“Guzzi”) and EMCOR (“Guzzi Continuity Agreement”) | Exhibit E to the Guzzi Letter Agreement |
| 10(g-2) | Amendment dated as of March 1, 2007 to Guzzi Continuity Agreement | Exhibit 10(p-2) to the March 2007 Form 10-Q |
| 10(g-3) | Amendment to Continuity Agreements and Severance Agreements with Anthony J. Guzzi, R. Kevin Matz and Mark A. Pompa | Exhibit 10(Q) to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 2008 (“2008 Form 10-K”) |
| ExhibitNo. | Description | Incorporated By Reference to orFiled Herewith, as Indicated Below |
| 10(h) | Amendment dated as of March 29, 2010 to Severance Agreement with Anthony J. Guzzi, R. Kevin Matz and Mark A. Pompa | Exhibit 10.1 to EMCOR’s Report on Form 8-K (Date of Report March 29, 2010) (“March 2010 Form 8-K”) |
| 10(i-1) | Severance Agreement dated as of October 26, 2016 between EMCOR and Maxine L. Mauricio | Exhibit 10(l-1) to EMCOR's Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 ("September 2016 Form 10-Q") |
| 10(i-2) | Continuity Agreement dated as of October 26, 2016 between EMCOR and Maxine L. Mauricio (“Mauricio Continuity Agreement”) | Exhibit 10(l-2) to the September 2016 Form 10-Q |
| 10(i-3) | Amendment dated April 10, 2017 to Mauricio Continuity Agreement | Exhibit 10(l-3) to EMCOR’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 |
| 10(j-1) | Severance Agreement dated as of May 8, 2024 between EMCOR and Jason R. Nalbandian | Exhibit 10(a-1) to EMCOR’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 (“June 2024 Form 10-Q”) |
| 10(j-2) | Continuity Agreement dated as of May 8, 2024 between EMCOR and Jason R. Nalbandian | Exhibit 10(a-2) to the June 2024 Form 10-Q |
| 10(k-1) | EMCOR Group, Inc. Long-Term Incentive Plan (“LTIP”) | Exhibit 10 to EMCOR’s Report on Form 8-K (Date of Report December 15, 2005) |
| 10(k-3) | Second Amendment to LTIP | Exhibit 10.2 to March 2010 Form 8-K |
| 10(k-4) | Third Amendment to LTIP | Exhibit 10(q-4) to EMCOR’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012 (“March 2012 Form 10-Q”) |
| 10(k-5) | Fourth Amendment to LTIP | Exhibit 10(l-5) to EMCOR’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013 |
| 10(k-6) | Form of Certificate Representing Stock Units issued under LTIP | Exhibit 10(T-2) to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 2007 (“2007 Form 10-K”) |
| 10(k-7) | Fifth Amendment to LTIP | Exhibit 10(l-7) to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 2015 (“2015 Form 10-K”) |
| 10(k-9) | Seventh Amendment to LTIP | Exhibit 10(l-9) to EMCOR's Annual Report on Form 10-K for the year ended December 31, 2021 |
| 10(l) | Key Executive Incentive Bonus Plan, as amended and restated | Exhibit B to EMCOR’s Proxy Statement for its Annual Meeting held June 13, 2013 |
| 10(m-1) | Amended and Restated 2010 Incentive Plan | Exhibit 10.1 to EMCOR’s Report on Form 8-K (Date of Report June 11, 2020) |
| 10(m-2) | First Amendment to the Amended and Restated 2010 Incentive Plan | Exhibit 10.1 to EMCOR’s Report on Form 8-K (Date of Report June 5, 2025) |
| 10(n) | Form of Non-LTIP Stock Unit Certificate | Exhibit 10(p)(p) to the March 2012 Form 10-Q |
| 10(o) | Form of Director Restricted Stock Unit Agreement | Exhibit 10(k)(k) to EMCOR’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 (“June 2012 Form 10-Q”) |
| 10(p) | Director Award Program, as Amended and Restated December 16, 2014 | Exhibit 10(z) to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 2014 |
| ExhibitNo. | Description | Incorporated By Reference to orFiled Herewith, as Indicated Below |
| 10(q-1) | EMCOR Group, Inc. Voluntary Deferral Plan | Exhibit 10(E)(E) to EMCOR's Annual Report on Form 10-K for the year ended December 31, 2012 (“2012 Form 10-K”) |
| 10(q-2) | First Amendment to EMCOR Group, Inc. Voluntary Deferral Plan | Exhibit 10(e)(e) to EMCOR's Annual Report on Form 10-K for the year ended December 31, 2013 |
| 14 | Code of Ethics of EMCOR for Chief Executive Officer and Senior Financial Officers | Exhibit 14 to EMCOR's Annual Report on Form 10-K for the year ended December 31, 2003 |
| 19 | Insider Trading Policies and Procedures | Exhibit 19 to EMCOR’s Annual Report on Form 10-K for the year ended December 31, 2024 |
| 21 | List of Significant Subsidiaries | Filed herewith |
| 23.1 | Consent of Ernst & Young LLP | Filed herewith |
| 31.1 | Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 by Anthony J. Guzzi, the Chairman, President, and Chief Executive Officer | Filed herewith |
| 31.2 | Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 by Jason R. Nalbandian, the Senior Vice President, Chief Financial Officer and Chief Accounting Officer | Filed herewith |
| 32.1 | Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 by the Chairman, President, and Chief Executive Officer | Furnished |
| 32.2 | Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 by the Senior Vice President, Chief Financial Officer and Chief Accounting Officer | Furnished |
| 95.1 | Information concerning mine safety violations or other regulatory matters | Filed herewith |
| 101 | The following materials from EMCOR Group, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2025, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Comprehensive Income, (iv) the Consolidated Statements of Cash Flows, (v) the Consolidated Statements of Equity and (vi) the Notes to Consolidated Financial Statements. | Filed |
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) | Filed |
Pursuant to Item 601(b)(4)(iii) of Regulation S-K, upon request of the Securities and Exchange Commission, the Registrant hereby undertakes to furnish a copy of any unfiled instrument which defines the rights of holders of long-term debt of the Registrant’s subsidiaries.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.