Norwalk construction and engineering giant Emcor Group Inc. posted a quarterly profit that missed analysts’ expectations, hurt by operating loss at its Canadian construction unit and interest expenses, Reuters reports.
Emcor said it expects 2011 earnings of $1.45-$1.85 per share on revenue of $5.3-$5.5 billion.
Analysts, on average, were expecting $2.10 per share, on revenue of $5.26 billion, according to Thomson Reuters I/B/E/S.
For the fourth quarter, net income was $40 million, or 59 cents a share, compared with $39.2 million, or 58 cents a share, a year ago. Revenue was flat at $1.36 billion.
Analysts expected earnings of 61 cents a share, before special items, on revenue of $1.27 billion.
Emcor said its Canadian construction unit recorded an operating loss of $2 million from a significant write-down on a construction project.