Comfort Systems USA (FIX) Tops Q1 EPS by 13c

Comfort Systems USA (NYSE: FIX) reported Q1 EPS of $0.73, $0.13 better than the analyst estimate of $0.60. Revenue for the quarter came in at $669.8 million versus the consensus estimate of $691.52 million.

Brian Lane, Comfort Systems USA’s President and Chief Executive Officer, said, “We are happy to report a strong start to 2021 with increases in earnings, cash flow, and sequential backlog. Our earnings significantly exceed the first quarter of 2020, which was the quarter last year that was most negatively impacted by the global pandemic. Our essential workforce continues to perform beyond all expectations, and we are grateful for their courage and perseverance.”

Mr. Lane continued, “Our backlog strengthened this quarter as compared to year end. Although we are still experiencing some delays in bookings and starts, we see good signs that first half headwinds are subsiding. Our pipeline and bidding activity remain strong. Cash flow was unprecedented for a first quarter as a result of strong execution as well as the receipt of large advance payments for certain orders and projects.”

Mr. Lane concluded, “The sporadic air pockets that were caused by the pandemic seem to be abating, and we look forward to continued strong results for the balance of 2021. We perceive good trends in underlying activity levels, especially in our industrial, technology and modular markets, and we are optimistic about our prospects for the next several quarters.”

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

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