Comfort Systems USA (FIX) Misses Q4 EPS by 13c, Revenues Beat

Comfort Systems USA (NYSE: FIX) reported Q4 EPS of $0.67, $0.13 worse than the analyst estimate of $0.80. Revenue for the quarter came in at $588.4 million versus the consensus estimate of $562.83 million.

Brian Lane, Comfort Systems USA’s President and Chief Executive Officer, said, “We are happy to report record annual and fourth quarter free cash flow, revenue and earnings per share. Revenue increased by 28% since the fourth quarter of 2017, and quarterly earnings per share increased sharply over the same period. During the fourth quarter we had positive free cash flow of approximately $74.6 million, a result that reflects fantastic focus and execution by our field teams in each of the markets we serve.”

Mr. Lane concluded, “Our operations achieved unprecedented success in 2018, with annual earnings per share growing by more than 60% from 2017 to 2018. In 2018, we benefited from favorable tax rate changes; however, our pre-tax income was also up markedly, increasing by 47.3% as a result of improving execution and strong same store growth. In light of our substantial increase in backlog compared to the end of 2017, and given our perception that industry conditions continue to be strong, we believe that we are well positioned for continued success in 2019.”

For earnings history and earnings-related data on Comfort Systems USA (FIX) click here.

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