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Jun 30, 2023
Comfort Systems USA Q2 2023 Earnings Report
Comfort Systems USA reported strong Q2 2023 results driven by robust demand and effective execution.
Key Takeaways
Comfort Systems USA reported a strong second quarter in 2023, with revenue reaching $1,296.4 million and net income at $69.5 million, or $1.93 per diluted share. The company's operating cash flow was $125.4 million. Backlog as of June 30, 2023, was $4.19 billion.
Revenue for the second quarter of 2023 was $1,296.4 million, an increase from $1,017.9 million in 2022.
Net income for the quarter ended June 30, 2023, was $69.5 million, or $1.93 per diluted share, compared to $42.2 million, or $1.17 per diluted share, in 2022.
Operating cash flow for the current quarter was $125.4 million, compared to $44.6 million in 2022.
Backlog as of June 30, 2023, reached $4.19 billion, compared to $2.81 billion as of June 30, 2022.
Comfort Systems USA
Comfort Systems USA
Forward Guidance
The Company continues to expect strong results for the remainder of this year and well into 2024.
Positive Outlook
- Strong ongoing demand
- Remarkable execution by workforce
- High performance in mechanical operations
- Significant increase in electrical segment margins
- Continued growth and solid performance in modular business