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EMCOR Group, Inc. Reports Fourth Quarter and Full-Year 2021 Results

- Record Quarterly and Full-Year Revenues of $2.64 billion and $9.90 billion, respectively -

- Record Quarterly and Full-Year Diluted EPS of $1.89 and $7.06, respectively -

- Record Remaining Performance Obligations of $5.60 billion, 21.9% Increase Year-over-Year -

- Announces 2022 Revenues and Diluted EPS Guidance -

EMCOR Group, Inc. (NYSE: EME) today reported results for the fourth quarter and year ended December 31, 2021.

For the fourth quarter of 2021, net income was $101.7 million, or $1.89 per diluted share, compared to $79.8 million, or $1.45 per diluted share, for the fourth quarter of 2020. Net income for the fourth quarter of 2020 was negatively impacted by the tax effect of the goodwill, identifiable intangible asset, and other long-lived asset impairment charges recorded in the second quarter of 2020. Excluding this tax effect, non-GAAP net income for the fourth quarter of 2020 was $102.8 million, or $1.86 per diluted share. Revenues for the fourth quarter of 2021 totaled $2.64 billion, an increase of 15.7%, compared to $2.28 billion for the fourth quarter of 2020.

Operating income for the fourth quarter of 2021 was $143.0 million, or 5.4% of revenues. This compared to $137.6 million, or 6.0% of revenues, for the fourth quarter of 2020.

Selling, general and administrative expenses for the fourth quarter of 2021 totaled $260.0 million, or 9.8% of revenues, compared to $244.6 million, or 10.7% of revenues, for the fourth quarter of 2020.

The Company's income tax rate for the fourth quarter of 2021 was 28.8%, compared to an income tax rate of 41.8% for the fourth quarter of 2020. The Company’s tax rate for the fourth quarter of 2020 was impacted by the previously referenced impairment charges recorded in the second quarter of 2020.

Remaining performance obligations as of December 31, 2021 were $5.60 billion compared to $4.59 billion as of December 31, 2020. Total remaining performance obligations grew approximately $1.0 billion year-over-year.

Tony Guzzi, Chairman, President and Chief Executive Officer of EMCOR, commented, “The Company delivered exceptional results in 2021 with record full year revenues, operating income, and diluted earnings per share, demonstrating our resilience in an uncertain and challenging environment. Importantly, while we continued to achieve impressive revenue growth, demand for our services remained strong with remaining performance obligations increasing 21.9% year-over-year to a record $5.60 billion, underscoring the strength of our project pipeline.”

Mr. Guzzi added, “Our U.S. Construction segments posted another quarter of strong results and an outstanding year overall, achieving record revenues in the fourth quarter. Our U.S. Mechanical and Electrical Construction segments delivered quarterly revenues, which were up 9.4% and 17.3% year-over-year, respectively, driven by key market sectors including manufacturing, healthcare, commercial, and water/wastewater. Despite continued supply chain constraints and COVID-related headwinds, our U.S. Construction segments remained resilient, leveraging our long-term supplier relationships and focusing on safety to maintain solid operating margins. Our U.S. Building Services segment also delivered robust revenue growth in the fourth quarter, up 10.4% year-over-year, driven by increased demand for projects, retrofits, and building automation and controls, including those aimed at increasing energy efficiency. Our U.S. Industrial Services segment performed as we expected as we saw strengthening demand through the year, with the segment delivering revenue and operating income growth of 72.6% and 146.3%, respectively, in the fourth quarter. We continue to deliver for our refining and petrochemical customers and are positioned for the opportunities ahead in the growing renewable energy and renewable fuels markets. Our U.K. Building Services segment continues to perform exceptionally with excellent contract and specialized project execution, resulting in fourth quarter revenue and operating income growth of 7.7% and 17.5%, respectively.”

Revenues for the 2021 full-year period totaled $9.90 billion, an increase of 12.6%, compared to $8.80 billion for the 2020 full-year period. Net income for the 2021 full-year period was $383.5 million, or $7.06 per diluted share, compared to $132.9 million, or $2.40 per diluted share, for the 2020 full-year period. Excluding the previously referenced impairment charges recorded in the second quarter of 2020, non-GAAP net income for the 2020 full-year period was $354.6 million, or $6.40 per diluted share.

Operating income for the 2021 full-year period was $530.8 million, or 5.4% of revenues, compared to $256.8 million, or 2.9% of revenues, for the 2020 full-year period. Excluding the $232.8 million of non-cash impairment charges recorded in the second quarter of 2020, non-GAAP operating income for the 2020 full-year period was $489.6 million, or 5.6% of revenues.

SG&A totaled $970.9 million, or 9.8% of revenues, for the 2021 full-year period, compared to $903.6 million, or 10.3% of revenues, for the 2020 full-year period.

Please see the attached tables for a reconciliation of non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, and non-GAAP diluted earnings per share to the comparable GAAP measures for the three and twelve months ended December 31, 2020.

Based on expected project mix and our current visibility into the coming year, and assuming the impact of the COVID-19 pandemic and supply chain disruptions do not worsen, EMCOR expects full-year 2022 revenues to be between $10.4 billion and $10.7 billion and full-year 2022 diluted earnings per share in the range of $7.15 to $7.85.

Mr. Guzzi concluded, “Our operating performance in 2021 is a clear reflection of our team’s ability to deliver in a volatile environment. Over the course of the year, we completed a number of acquisitions, continued to win new business, delivered outstanding customer service, and drove record results. Notably, our focus at every level of the organization on employee safety and well-being, operational excellence, and rigorous contingency planning not only delivered impressive financial results, but also led to our best safety year ever in 2021, an exceptional achievement given the challenges we faced. Looking forward, we remain confident in our ability to successfully execute in the current dynamic environment and are better positioned than ever given our healthy balance sheet, the momentum we are seeing in the non-residential market, and our robust remaining performance obligations. As we move into 2022, we will maintain our disciplined capital allocation strategy, focusing on organic growth investments, strategic acquisition opportunities, and returning cash to shareholders through share repurchases and dividends.”

EMCOR Group, Inc. is a Fortune 500 leader in mechanical and electrical construction services, industrial and energy infrastructure and building services. This press release and other press releases may be viewed at the Company’s website at www.emcorgroup.com. EMCOR routinely posts information that may be important to investors in the “Investor Relations” section of our website at www.emcorgroup.com. Investors and potential investors are encouraged to consult the EMCOR website regularly for important information about EMCOR.

EMCOR Group's fourth quarter conference call will be available live via internet broadcast today, Thursday, February 24, at 10:30 AM Eastern Standard Time. The live call may be accessed through the Company's website at www.emcorgroup.com.

Forward Looking Statements:

This release contains certain forward-looking statements. Any such comments speak only as of February 24, 2022 and EMCOR assumes no obligation to update any such forward-looking statements, unless required by law. These forward-looking statements may include statements regarding anticipated future operating and financial performance, the nature and impact of our remaining performance obligations, our ability to pursue acquisitions, our ability to return capital to shareholders, market opportunities, market growth, and customer trends. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated (whether expressly or implied) by the forward-looking statements. Accordingly, these statements are no guarantee of future performance or events. 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, the availability and pricing of supplies and other materials, the availability of adequate levels of surety bonding, increased competition, unfavorable labor productivity, mix of business, and the impact of the COVID-19 pandemic and related government orders and mandates on our revenue and operations. Certain of the risk factors associated with EMCOR’s business are also discussed in Part I, Item 1A “Risk Factors,” of the Company’s 2021 Form 10-K, and in other reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov and www.emcorgroup.com. Such risk factors should be taken into account in evaluating any forward-looking statements.

Non-GAAP Measures:

This release also includes certain financial measures, including non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, and non-GAAP diluted earnings per share, that were not prepared in accordance with U.S. generally accepted accounting principles (GAAP). Reconciliations of those non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this release. The Company uses these non-GAAP measures as key performance indicators for the purpose of evaluating performance internally. We also believe that these non-GAAP measures provide investors with useful information with respect to our ongoing operations. Any non-GAAP financial measures presented are not, and should not be viewed as, substitutes for financial measures required by GAAP, have no standardized meaning prescribed by GAAP, and may not be comparable to the calculation of similar measures of other companies.

EMCOR GROUP, INC.

FINANCIAL HIGHLIGHTS



CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share information)

 

 

 

(Unaudited)

 

 

 

 

 

 

For the three months ended

December 31,

 

For the twelve months ended

December 31,

 

 

 

2021

 

 

 

2020

 

 

 

2021

 

 

 

2020

 

Revenues

 

$

2,640,193

 

 

$

2,281,494

 

 

$

9,903,580

 

 

$

8,797,061

 

Cost of sales

 

 

2,237,151

 

 

 

1,897,643

 

 

 

8,401,843

 

 

 

7,401,679

 

Gross profit

 

 

403,042

 

 

 

383,851

 

 

 

1,501,737

 

 

 

1,395,382

 

Selling, general and administrative expenses

 

 

260,025

 

 

 

244,620

 

 

 

970,937

 

 

 

903,584

 

Restructuring expenses

 

 

 

 

 

1,609

 

 

 

 

 

 

2,214

 

Impairment loss on goodwill, identifiable intangible assets, and other long-lived assets

 

 

 

 

 

 

 

 

 

 

 

232,750

 

Operating income

 

 

143,017

 

 

 

137,622

 

 

 

530,800

 

 

 

256,834

 

Net periodic pension (cost) income

 

 

887

 

 

 

769

 

 

 

3,625

 

 

 

2,980

 

Interest expense, net

 

 

(1,157

)

 

 

(1,406

)

 

 

(5,122

)

 

 

(7,488

)

Income before income taxes

 

 

142,747

 

 

 

136,985

 

 

 

529,303

 

 

 

252,326

 

Income tax provision

 

 

41,079

 

 

 

57,204

 

 

 

145,602

 

 

 

119,383

 

Net income including noncontrolling interests

 

 

101,668

 

 

 

79,781

 

 

 

383,701

 

 

 

132,943

 

Net income attributable to noncontrolling interests

 

 

 

 

 

 

 

 

169

 

 

 

 

Net income attributable to EMCOR Group, Inc.

 

$

101,668

 

 

$

79,781

 

 

$

383,532

 

 

$

132,943

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share:

 

$

1.90

 

 

$

1.45

 

 

$

7.09

 

 

$

2.41

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

$

1.89

 

 

$

1.45

 

 

$

7.06

 

 

$

2.40

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding:

 

 

 

 

 

 

 

 

Basic

 

 

53,419,752

 

 

 

54,882,514

 

 

 

54,068,982

 

 

 

55,196,173

 

Diluted

 

 

53,724,800

 

 

 

55,160,893

 

 

 

54,347,534

 

 

 

55,421,271

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

 

$

0.13

 

 

$

0.08

 

 

$

0.52

 

 

$

0.32

 

EMCOR GROUP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

     

 

 

December 31,

2021

 

December 31,

2020

ASSETS

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

821,345

 

 

$

902,867

 

Accounts receivable, net

 

 

2,204,519

 

 

 

1,922,096

 

Contract assets

 

 

230,143

 

 

 

171,956

 

Inventories

 

 

54,098

 

 

 

53,338

 

Prepaid expenses and other

 

 

80,889

 

 

 

70,679

 

Total current assets

 

 

3,390,994

 

 

 

3,120,936

 

Property, plant & equipment, net

 

 

152,066

 

 

 

158,427

 

Operating lease right-of-use assets

 

 

260,778

 

 

 

242,155

 

Goodwill

 

 

890,268

 

 

 

851,783

 

Identifiable intangible assets, net

 

 

589,365

 

 

 

582,893

 

Other assets

 

 

157,975

 

 

 

107,646

 

Total assets

 

$

5,441,446

 

 

$

5,063,840

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Current maturities of long-term debt and finance lease liabilities

 

$

16,235

 

 

$

16,910

 

Accounts payable

 

 

734,275

 

 

 

671,886

 

Contract liabilities

 

 

788,134

 

 

 

722,252

 

Accrued payroll and benefits

 

 

490,867

 

 

 

450,955

 

Other accrued expenses and liabilities

 

 

274,406

 

 

 

247,597

 

Operating lease liabilities, current

 

 

57,814

 

 

 

53,632

 

Total current liabilities

 

 

2,361,731

 

 

 

2,163,232

 

Long-term debt and finance lease liabilities

 

 

245,450

 

 

 

259,619

 

Operating lease liabilities, long-term

 

 

220,836

 

 

 

205,362

 

Other long-term obligations

 

 

360,340

 

 

 

382,383

 

Total liabilities

 

 

3,188,357

 

 

 

3,010,596

 

Equity:

 

 

 

 

 

 

Total EMCOR Group, Inc. stockholders’ equity

 

 

2,252,387

 

 

 

2,052,668

 

Noncontrolling interests

 

 

702

 

 

 

576

 

Total equity

 

 

2,253,089

 

 

 

2,053,244

 

Total liabilities and equity

 

$

5,441,446

 

 

$

5,063,840

 

EMCOR GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Twelve Months Ended December 31, 2021 and 2020

(In thousands)

 

 

 

 

2021

 

 

 

2020

 

Cash flows - operating activities:

 

 

 

 

Net income including noncontrolling interests

 

$

383,701

 

 

$

132,943

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

Depreciation and amortization

 

 

48,347

 

 

 

46,721

 

Amortization of identifiable intangible assets

 

 

64,089

 

 

 

59,950

 

Provision for credit losses

 

 

8,041

 

 

 

3,269

 

Deferred income taxes

 

 

9,517

 

 

 

(36,354

)

Non-cash expense for impairment of goodwill, identifiable intangible assets,

and other long-lived assets

 

 

 

 

 

232,750

 

Non-cash share-based compensation expense

 

 

11,107

 

 

 

11,151

 

Other reconciling items

 

 

2,374

 

 

 

1,320

 

Changes in operating assets and liabilities, excluding the effect of businesses acquired

 

 

(208,359

)

 

 

354,616

 

Net cash provided by operating activities

 

 

318,817

 

 

 

806,366

 

Cash flows - investing activities:

 

 

 

 

Payments for acquisitions of businesses, net of cash acquired

 

 

(118,239

)

 

 

(50,357

)

Proceeds from sale or disposal of property, plant and equipment

 

 

2,754

 

 

 

3,463

 

Purchases of property, plant and equipment

 

 

(36,192

)

 

 

(47,969

)

Investments in and advances to unconsolidated entities

 

 

(1,595

)

 

 

 

Distributions from unconsolidated entities

 

 

196

 

 

 

 

Net cash used in investing activities

 

 

(153,076

)

 

 

(94,863

)

Cash flows - financing activities:

 

 

 

 

Proceeds from revolving credit facility

 

 

 

 

 

200,000

 

Repayments of revolving credit facility

 

 

 

 

 

(250,000

)

Proceeds from long-term debt

 

 

 

 

 

300,000

 

Repayments of long-term debt and debt issuance costs

 

 

(13,875

)

 

 

(286,987

)

Repayments of finance lease liabilities

 

 

(4,189

)

 

 

(4,470

)

Dividends paid to stockholders

 

 

(28,163

)

 

 

(17,674

)

Repurchases of common stock

 

 

(195,546

)

 

 

(112,553

)

Taxes paid related to net share settlements of equity awards

 

 

(4,210

)

 

 

(2,640

)

Issuances of common stock under employee stock purchase plan

 

 

7,328

 

 

 

6,557

 

Payments for contingent consideration arrangements

 

 

(6,758

)

 

 

(4,070

)

Distributions to noncontrolling interests

 

 

(43

)

 

 

(70

)

Net cash used in financing activities

 

 

(245,456

)

 

 

(171,907

)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

 

 

(1,279

)

 

 

4,046

 

(Decrease) increase in cash, cash equivalents, and restricted cash

 

 

(80,994

)

 

 

543,642

 

Cash, cash equivalents, and restricted cash at beginning of year (1)

 

 

903,562

 

 

 

359,920

 

Cash, cash equivalents, and restricted cash at end of period (1)

 

$

822,568

 

 

$

903,562

 

(1)

  Includes $1.2 million, $0.7 million, and $1.1 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of December 31, 2021, 2020 and 2019, respectively.

EMCOR GROUP, INC.

SEGMENT INFORMATION

(In thousands)

   

 

 

(Unaudited)

 

 

For the three months ended

December 31,

 

 

2021

 

2020

Revenues from unrelated entities:

 

 

 

 

 

 

United States electrical construction and facilities services

 

$

541,876

 

 

$

461,817

 

United States mechanical construction and facilities services

 

 

1,060,669

 

 

 

969,433

 

United States building services

 

 

630,142

 

 

 

570,909

 

United States industrial services

 

 

283,644

 

 

 

164,341

 

Total United States operations

 

 

2,516,331

 

 

 

2,166,500

 

United Kingdom building services

 

 

123,862

 

 

 

114,994

 

Total operations

 

$

2,640,193

 

 

$

2,281,494

 

 

 

 

 

 

 

 

 

 

For the twelve months ended

December 31,

 

 

2021

 

2020

Revenues from unrelated entities:

 

 

 

 

 

 

United States electrical construction and facilities services

 

$

2,015,466

 

 

$

1,806,092

 

United States mechanical construction and facilities services

 

 

3,922,864

 

 

 

3,485,495

 

United States building services

 

 

2,468,892

 

 

 

2,134,016

 

United States industrial services

 

 

986,407

 

 

 

940,895

 

Total United States operations

 

 

9,393,629

 

 

 

8,366,498

 

United Kingdom building services

 

 

509,951

 

 

 

430,563

 

Total operations

 

$

9,903,580

 

 

$

8,797,061

 

EMCOR GROUP, INC.

SEGMENT INFORMATION

(In thousands)

 

 

 

(Unaudited)

 

 

For the three months ended

December 31,

 

 

 

2021

 

 

 

2020

 

Operating income (loss):

 

 

 

 

United States electrical construction and facilities services

 

$

41,339

 

 

$

43,944

 

United States mechanical construction and facilities services

 

 

92,601

 

 

 

100,380

 

United States building services

 

 

27,791

 

 

 

27,834

 

United States industrial services

 

 

3,997

 

 

 

(8,625

)

Total United States operations

 

 

165,728

 

 

 

163,533

 

United Kingdom building services

 

 

4,958

 

 

 

4,218

 

Corporate administration

 

 

(27,669

)

 

 

(28,520

)

Restructuring expenses

 

 

 

 

 

(1,609

)

Total operations

 

 

143,017

 

 

 

137,622

 

Other items:

 

 

 

 

Net periodic pension (cost) income

 

 

887

 

 

 

769

 

Interest expense, net

 

 

(1,157

)

 

 

(1,406

)

Income before income taxes

 

$

142,747

 

 

$

136,985

 

 

 

 

 

 

 

 

For the twelve months ended

December 31,

 

 

 

2021

 

 

 

2020

 

Operating income (loss):

 

 

 

 

United States electrical construction and facilities services

 

$

168,363

 

 

$

161,810

 

United States mechanical construction and facilities services

 

 

319,112

 

 

 

292,536

 

United States building services

 

 

119,024

 

 

 

114,159

 

United States industrial services

 

 

(1,666

)

 

 

1,175

 

Total United States operations

 

 

604,833

 

 

 

569,680

 

United Kingdom building services

 

 

27,998

 

 

 

20,660

 

Corporate administration

 

 

(102,031

)

 

 

(98,542

)

Restructuring expenses

 

 

 

 

 

(2,214

)

Impairment loss on goodwill, identifiable intangible assets, and other long-lived assets

 

 

 

 

 

(232,750

)

Total operations

 

 

530,800

 

 

 

256,834

 

Other items:

 

 

 

 

Net periodic pension (cost) income

 

 

3,625

 

 

 

2,980

 

Interest expense, net

 

 

(5,122

)

 

 

(7,488

)

Income before income taxes

 

$

529,303

 

 

$

252,326

 

EMCOR GROUP, INC.

RECONCILIATION OF 2021 AND 2020 NON-GAAP OPERATING INCOME AND

NON-GAAP OPERATING MARGIN

(In thousands, except for percentages) (Unaudited)

In our press release, we provide non-GAAP operating income and non-GAAP operating margin for the three and twelve months ended December 31, 2020. The following tables provide a reconciliation between operating income and operating margin determined on a non-GAAP basis to the most directly comparable GAAP measures for such periods.

 

 

For the three months ended

December 31,

 

For the twelve months ended

December 31,

 

 

2021

 

2020

 

2021

 

2020

GAAP operating income

 

$

143,017

 

 

$

137,622

 

 

$

530,800

 

 

$

256,834

 

Impairment loss on goodwill, identifiable intangible assets, and other long-lived assets

 

 

 

 

 

 

 

 

 

 

 

232,750

 

Non-GAAP operating income

 

$

143,017

 

 

$

137,622

 

 

$

530,800

 

 

$

489,584

 

 

 

For the three months ended

December 31,

 

For the twelve months ended

December 31,

 

 

2021

 

2020

 

2021

 

2020

GAAP operating margin

 

 

5.4

%

 

 

6.0

%

 

 

5.4

%

 

 

2.9

%

Impairment loss on goodwill, identifiable intangible assets, and other long-lived assets

 

 

%

 

 

%

 

 

%

 

 

2.6

%

Non-GAAP operating margin

 

 

5.4

%

 

 

6.0

%

 

 

5.4

%

 

 

5.6

%

EMCOR GROUP, INC.

RECONCILIATION OF 2021 AND 2020 NON-GAAP NET INCOME

(In thousands) (Unaudited)

In our press release, we provide non-GAAP net income for the three and twelve months ended December 31, 2020. The following table provides a reconciliation between net income determined on a non-GAAP basis to the most directly comparable GAAP measure for such periods.

 

 

For the three months ended

December 31,

 

For the twelve months ended

December 31,

 

 

2021

 

2020

 

2021

 

2020

GAAP net income

 

$

101,668

 

 

$

79,781

 

 

$

383,532

 

 

$

132,943

 

Impairment loss on goodwill, identifiable intangible assets, and other long-lived assets

 

 

 

 

 

 

 

 

 

 

 

232,750

 

Tax effect of impairment loss on goodwill, identifiable intangible assets, and other long-lived assets

 

 

 

 

 

22,984

 

 

 

 

 

 

(11,105

)

Non-GAAP net income

 

$

101,668

 

 

$

102,765

 

 

$

383,532

 

 

$

354,588

 

EMCOR GROUP, INC.

RECONCILIATION OF 2021 AND 2020 NON-GAAP DILUTED EARNINGS PER SHARE

(Unaudited)

In our press release, we provide non-GAAP diluted earnings per common share for the three and twelve months ended December 31, 2020. The following table provides a reconciliation between diluted earnings per common share determined on a non-GAAP basis to the most directly comparable GAAP measure for such periods.

 

 

For the three months ended

December 31,

 

For the twelve months ended

December 31,

 

 

2021

 

2020

 

2021

 

2020

GAAP diluted earnings per common share

 

$

1.89

 

 

$

1.45

 

 

$

7.06

 

 

$

2.40

 

Impairment loss on goodwill, identifiable intangible assets, and other long-lived assets

 

 

 

 

 

 

 

 

 

 

 

4.20

 

Tax effect of impairment loss on goodwill, identifiable intangible assets, and other long-lived assets

 

 

 

 

 

0.42

 

 

 

 

 

 

(0.20

)

Non-GAAP diluted earnings per common share

 

$

1.89

 

 

$

1.86

 

 

$

7.06

 

 

$

6.40

 

 

Contacts

R. Kevin Matz

Executive Vice President

Shared Services

(203) 849-7938



FTI Consulting, Inc.

Investors: Brad Newman

(212) 850-5646

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