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Dec 31, 2019
Comfort Systems USA Q4 2019 Earnings Report
Reports fourth quarter and full year 2019 results, with earnings per share significantly exceeding the fourth quarter of 2018.
Key Takeaways
Comfort Systems USA reported a strong finish to 2019, with net income for the quarter ended December 31, 2019, reaching $34.1 million, or $0.92 per diluted share, compared to $25.2 million, or $0.67 per diluted share, for the same quarter in 2018. Revenue for the quarter increased to $719.6 million from $588.4 million in the previous year. The company's backlog showed substantial increases, and the Walker Engineering acquisition contributed an impressive fourth-quarter performance.
Net income for Q4 2019 was $34.1 million, or $0.92 per diluted share, compared to $25.2 million, or $0.67 per diluted share, for Q4 2018.
Q4 2019 earnings included an approximate $0.08 per diluted share benefit from insurance proceeds related to a ransomware incident.
Revenue for Q4 2019 was $719.6 million, up from $588.4 million in 2018.
Backlog as of December 31, 2019, was $1.60 billion, with same-store backlog increasing to $1.36 billion.
Forward Guidance
The company anticipates continued strength and strong profitability in 2020, driven by high levels of industry trends.
Positive Outlook
- The outlook for the industry continues to trend at high levels.
- Continued strength is expected in 2020.
- Strong profitability is expected in 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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