Comfort Systems USA Q2 2024 Earnings Report
Key Takeaways
Comfort Systems USA reported a strong second quarter in 2024, with revenue increasing to $1.81 billion and net income reaching $134.0 million, or $3.74 per diluted share. The company's backlog remains high, and operating cash flow saw a substantial increase compared to the previous year.
Revenue for Q2 2024 increased to $1.81 billion, up from $1.30 billion in Q2 2023.
Net income for Q2 2024 was $134.0 million, or $3.74 per diluted share, compared to $69.5 million, or $1.93 per diluted share, in Q2 2023.
Operating cash flow for Q2 2024 was $189.9 million, compared to $125.4 million in Q2 2023.
Backlog as of June 30, 2024, was $5.77 billion, with same-store backlog increasing to $5.22 billion.
Comfort Systems USA
Comfort Systems USA
Forward Guidance
Company anticipates strong results will continue in the second half of 2024 and into 2025 due to high backlog levels, a surge in same-store revenue, robust job pipelines, and unprecedented demand.