Comfort Systems USA ( (FIX) ) has released its Q4 earnings. Here is a breakdown of the information Comfort Systems USA presented to its investors.
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Comfort Systems USA, Inc. is a leading provider of commercial, industrial, and institutional heating, ventilation, air conditioning, and electrical contracting services with a wide presence across 136 cities in the United States.
The company recently announced record earnings for both the fourth quarter and the full year of 2024. Comfort Systems reported significant growth in net income and revenue, highlighting the success of their strategic initiatives and the performance of their nationwide teams.
For the fourth quarter of 2024, Comfort Systems registered a net income of $145.9 million, translating to $4.09 per diluted share, an impressive jump from $91.6 million or $2.55 per diluted share a year earlier. Quarterly revenue soared to $1.87 billion from $1.36 billion in the prior year. The backlog saw a notable increase to $5.99 billion as of the end of December 2024. Annually, net income rose to $522.4 million, with revenue hitting $7.03 billion, marking a significant rise from the previous year.
The company’s President and CEO, Brian Lane, attributed these unprecedented results to outstanding team performance and successful acquisitions, including the recent addition of Century Contractors, Inc. in Charlotte, NC. The company’s robust cash flow allowed for organic investment in new companies and share repurchases, suggesting confidence in continued strong performance in 2025.
Looking ahead, Comfort Systems USA expects continued growth fueled by a healthy project pipeline, strong demand for construction services, and an exceptional team. The company remains optimistic about maintaining its trajectory of strong results into the next year.
