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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, Inc. (NYSE: FIX) has announced its quarterly conference call scheduled for February 24, 2022 at 11:00 a.m. Central Time. This call will discuss the fourth quarter 2021 financial results, which will be released after the market closes on February 23, 2022. Investors can access the live call on the Company’s website. A replay will be available the following day.
Comfort Systems USA, Inc. (NYSE: FIX) has acquired MEP Holding Co., Inc. and its subsidiaries, including Edwards Electrical & Mechanical, Inc., located in Indianapolis, Indiana. Edwards is projected to generate annual revenues of $85 to $95 million, with EBITDA between $6 to $8 million. Additionally, Comfort Systems USA acquired Thermal Service, LLC and Kodiak Labor Solutions, LLC. Thermal is expected to add $20 million in annual revenues, while Kodiak will bolster staffing resources. The overall impact of these acquisitions is expected to be neutral to slightly accretive to earnings per share in the next two years.
Comfort Systems USA, Inc. (NYSE: FIX) has announced a definitive agreement to acquire Ivey Mechanical Company, LLC, based in Kosciusko, Mississippi. Founded in 1947, Ivey provides mechanical contracting services across the Southeastern U.S. The acquisition is expected to contribute $150 million to $160 million in annual revenues and $7 million to $9 million in EBITDA. The deal is anticipated to be neutral to slightly accretive to earnings per share in 2022 and 2023. Comfort Systems aims to leverage Ivey's workforce and services, enhancing operational capacity and market presence.
Comfort Systems USA reported solid growth for Q3 2021, with net income of $46.3 million or $1.27 per diluted share, down from $50.1 million or $1.36 per share in Q3 2020. Revenue rose to $833.9 million, a 16.7% increase from $714.1 million in 2020. Operating cash flow was $42.6 million, down from $52.6 million last year. The backlog surged to $1.94 billion, up from $1.84 billion in Q2 2021 and $1.43 billion a year ago. For the nine months ending September 30, 2021, net income was $105.8 million, and revenue reached $2.22 billion.
Comfort Systems USA (NYSE: FIX) has declared a quarterly dividend of $0.13 per share, marking a $0.01 increase from the previous dividend. This dividend is scheduled for payment on November 23, 2021, to stockholders of record by November 12, 2021. The company operates 152 locations across 120 cities, providing essential HVAC and electrical contracting services.
Comfort Systems USA, Inc. (NYSE: FIX) is set to hold its quarterly conference call on October 28, 2021, at 10:30 a.m. Central Time to discuss its third quarter financial results, which will be released after market close on October 27, 2021. The call will be available for live listening on the Company’s website, and a replay will follow the next business day. Comfort Systems operates 152 locations across 120 cities, providing mechanical and electrical contracting services.
Soil Connect has raised additional funding led by Heartland Ventures, with participation from existing investors including CEMEX Ventures and TIA Ventures, as well as new investors like Romulus Capital and ARKA Ventures. The funds will support technology development and team expansion. Mark Accomando joins the board, along with four construction industry experts. Soil Connect's innovative solutions, such as the eRegulatory module and eTickets, are designed to streamline operations in the construction sector, indicating strong market potential and investor confidence.
Comfort Systems USA, Inc. (NYSE: FIX) has completed the acquisition of the Amteck family of companies, enhancing its electrical contracting capabilities in the Southeastern U.S.
Founded in 1977, Amteck provides a range of electrical solutions, expected to contribute annual revenues of $175 million to $200 million and EBITDA of $14 million to $17 million. Initially, the acquisition will have a neutral to slightly accretive effect on earnings per share.
Comfort Systems USA reported Q2 2021 results with net income of $33.0 million ($0.90 per diluted share), down from $39.5 million ($1.08) in Q2 2020. Revenue fell to $713.9 million from $743.5 million. Operating cash flow decreased to $25.4 million from $141.9 million. However, backlog increased to $1.84 billion, up from $1.66 billion in Q1 2021 and $1.53 billion in Q2 2020. For the first half of 2021, net income was $59.5 million on revenue of $1.38 billion, compared to $57.2 million on $1.44 billion in 2020.
Comfort Systems USA, Inc. (NYSE: FIX) has declared a quarterly dividend of $0.12 per share, reflecting a $0.005 increase from the previous dividend. This dividend is set to be paid on August 24, 2021, to stockholders who are on record as of the close of business on August 13, 2021. As a leading provider of HVAC and electrical contracting services, Comfort Systems operates 139 locations across 113 cities nationwide, indicating a robust presence in the market.