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Comfort Systems USA reports developments for a nationwide mechanical and electrical contracting business serving commercial, industrial and institutional facilities. Company news centers on HVAC, plumbing, piping, controls and electrical services, with operating updates tied to installation and maintenance work across newly built and existing buildings.
Recurring announcements include quarterly and annual results, backlog, operating cash flow, conference calls, dividend declarations on common stock, and management appointments. Updates also describe the company’s Mechanical services and Electrical services activities, with most revenue historically associated with Mechanical services.
Comfort Systems USA (NYSE: FIX) reported exceptional financial results for Q4 and full-year 2024. Fourth quarter net income reached $145.9 million ($4.09 per diluted share), up from $91.6 million in Q4 2023. Q4 revenue increased to $1.87 billion from $1.36 billion year-over-year.
For the full year 2024, the company achieved record earnings with net income of $522.4 million ($14.60 per diluted share), compared to $323.4 million in 2023. Annual revenue grew to $7.03 billion from $5.21 billion. Operating cash flow strengthened to $849.1 million from $639.6 million in 2023.
The company's backlog reached $5.99 billion as of December 31, 2024, showing strong growth from both September 2024 ($5.68 billion) and December 2023 ($5.16 billion). Management expects continued strong performance in 2025, citing robust demand for construction services in advanced technology sectors.
Comfort Systems USA (NYSE: FIX), a leading mechanical and electrical contracting services provider, has scheduled its fourth quarter and full year 2024 financial results conference call and webcast for February 21, 2025, at 10:00 a.m. Central Time. The company will release its results after market close on February 20, 2025.
The conference call will be available in listen-only mode on the company's investor website. Participants wishing to ask questions during the call can register to receive dial-in information and a unique PIN. A replay of the call will be accessible on the company's website the following business day.
Comfort Systems USA operates 178 locations across 136 cities, providing services including heating, ventilation, air conditioning, plumbing, electrical, piping and controls solutions.
Comfort Systems USA (NYSE: FIX) reported strong Q3 2024 results with net income of $146.2 million ($4.09 per share), up from $105.1 million ($2.93 per share) in Q3 2023. Revenue increased to $1.81 billion from $1.38 billion year-over-year. Operating cash flow reached $302.2 million, compared to $214.2 million in 2023. Backlog stood at $5.68 billion as of September 30, 2024, with same-store backlog up 21% year-over-year. Same-store revenue grew 18% quarterly and 23% year-to-date. For the first nine months of 2024, the company reported net income of $376.6 million ($10.52 per share) and revenue of $5.16 billion.
Comfort Systems USA (NYSE: FIX), a leading provider of commercial HVAC and electrical contracting services, has announced a dividend increase of $0.05, bringing the quarterly dividend to $0.35 per share. The dividend will be paid on November 25, 2024, to stockholders of record as of November 14, 2024. The company operates across 178 locations in 137 cities nationwide, providing workplace comfort solutions.
Comfort Systems USA (NYSE: FIX), a leading provider of mechanical and electrical contracting services, has scheduled its third quarter 2024 financial results conference call and webcast for Friday, October 25, 2024, at 10:00 a.m. Central Time. The results will be released after market close on Thursday, October 24, 2024. The conference call will be broadcast live in listen-only mode on the company's website, with a slide presentation available under the 'Investors' tab. Participants can register to join the call and ask questions, or access the listen-only webcast link. A replay will be available on the company's website the following business day.
Comfort Systems USA operates in 178 locations across 137 cities nationwide, providing workplace comfort solutions.
The National Association of Corporate Directors (NACD) has announced the honorees of the 2024 NACD Directorship 100™, recognizing leading corporate directors and governance experts. The awards include the B. Kenneth West Lifetime Achievement Award, given to Michael Daniels and Maggie Wilderotter for their notable achievements in board careers.
The Director of the Year recipients are:
- Public Company: Herman Bulls (Fluence Energy, USAA, JLL, and others)
- Private Company: Greg Cessna (Maclean Fogg, Hillandale, Henderson Brothers)
- Nonprofit: Hon. Robert A. McDonald (Elizabeth Dole Foundation, West Point Association of Graduates)
The honorees will be recognized at the 2024 NACD Directorship 100 Awards Gala on December 16 in New York City and featured in NACD Directorship® magazine.
Comfort Systems USA (NYSE: FIX), a leading provider of HVAC and electrical contracting services, has announced an expansion of its stock repurchase program. The company's Board of Directors has approved an amendment to increase the authorized share repurchase by 411,426 shares, bringing the total available for repurchase up to 1,000,000 shares of outstanding common stock.
Previously, the company had repurchased 10,355,551 shares at an aggregate price of $299,559,997 through August 7, 2024. This extension will 'top off' the plan, allowing Comfort Systems USA to repurchase additional shares beyond what has already been purchased. The repurchases will be made at the company's discretion in open market or privately negotiated transactions, subject to market conditions and other factors.
Comfort Systems USA (NYSE: FIX) reported strong Q2 2024 results, with net income of $134.0 million ($3.74 per diluted share), up from $69.5 million in Q2 2023. Revenue increased to $1.81 billion, compared to $1.30 billion in the same quarter last year. The company's operating cash flow rose to $189.9 million, up from $125.4 million in 2023.
Backlog remained high at $5.77 billion as of June 30, 2024, with same-store backlog increasing 25% year-over-year. For the first half of 2024, Comfort Systems USA reported net income of $230.3 million ($6.43 per diluted share) and revenue of $3.35 billion. The company's strong performance is attributed to excellent execution and high demand across its operations.
Comfort Systems USA (NYSE: FIX), a leading provider of commercial, industrial, and institutional HVAC and electrical contracting services, has announced a quarterly dividend of $0.30 per share on its common stock. The dividend will be payable on August 23, 2024, to stockholders of record at the close of business on August 12, 2024. This declaration demonstrates the company's commitment to returning value to shareholders.
Comfort Systems USA operates in 177 locations across 136 cities nationwide, positioning itself as a premier provider of workplace comfort solutions. The company's extensive network underscores its significant market presence and potential for continued growth in the HVAC and electrical contracting sectors.
Comfort Systems USA, Inc. (NYSE:FIX), a leading provider of commercial, industrial, and institutional HVAC and electrical contracting services, has appointed Gaurav Kapoor to its Board of Directors. Kapoor, 46, is the Chief Financial & Operations Officer at AECOM (NYSE:ACM), bringing extensive public company finance, accounting, and executive management experience to FIX's board.
Kapoor oversees AECOM's global operations and finance, including regional operations, financial planning and analysis, reporting, shared services, internal audit, tax, treasury, and global real estate. His appointment is expected to bring fresh perspectives and best practices to Comfort Systems' board, enhancing financial oversight and strategic performance.