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Comfort Systems USA, Inc. (symbol: FIX) is a leading national corporation specializing in heating, ventilation, and air conditioning (HVAC) services. Our vast portfolio spans various types of buildings, including commercial, industrial, and institutional structures. With nearly thirty years of experience per acquired company, we offer a complete range of HVAC services, ensuring optimal indoor climate control anywhere, anytime.
At Comfort Systems USA, we pride ourselves on our extensive range of services, which include HVAC design, installation, maintenance, and fine-tuning. Our technical experts are adept at handling projects for downtown high-rises, hospitals, universities, and national hotels. We also provide HVAC solutions for factories and industrial plants that produce everything from food products to high-tech components.
Our operations are divided into two primary segments: Mechanical Services and Electrical Services, with the majority of revenue generated from the Mechanical Services segment. This includes HVAC, plumbing, piping, controls, and other mechanical contracting work. We offer installation services for newly constructed facilities as well as maintenance services for existing buildings, ensuring our clients receive comprehensive support throughout the lifecycle of their systems.
Comfort Systems USA has grown significantly by merging the talents of top HVAC-related firms across the country, enabling us to offer unparalleled technical expertise and service range. Our national presence allows us to provide consistent, high-quality services that exceed industry standards.
Recent achievements highlight our commitment to excellence. From completing major projects in high-profile buildings to forming strategic partnerships that enhance our service offerings, we are dedicated to advancing the HVAC industry and improving the environments in which people live and work.
Stay updated with the latest news and developments about Comfort Systems USA, Inc., to understand how we continue to lead and innovate in the HVAC sector.
Comfort Systems USA, Inc. (NYSE: FIX) has announced an extension to its stock repurchase program, now allowing the purchase of up to 1,000,000 additional shares. This follows the repurchase of 9,944,125 shares at an aggregate cost of $233,061,710 as of May 17, 2022. The repurchases will be executed at the Company's discretion, using available cash. The Board of Directors retains the right to modify or terminate the program. This move aims to enhance shareholder value amidst ongoing market conditions.
Comfort Systems USA, Inc. (NYSE: FIX) reported strong first-quarter 2022 results with net income of $86.8 million, or $2.40 per diluted share, a significant increase from $26.5 million in Q1 2021. Revenue grew to $885.2 million from $669.8 million, and backlog rose to $2.73 billion. The earnings included a one-time benefit of $1.49 per share related to tax refunds. Operating cash flow was $63.7 million, down from $84.6 million in the prior year. The company remains optimistic about future growth.
Comfort Systems USA, Inc. (NYSE: FIX) has announced a quarterly dividend of $0.14 per share, reflecting a $0.01 increase from its previous dividend. This dividend will be payable on May 27, 2022, to stockholders of record by the close of business on May 16, 2022. The company operates 173 locations across 128 cities, providing commercial and industrial HVAC and electrical contracting services.
Comfort Systems USA, Inc. (NYSE: FIX) has announced its quarterly conference call scheduled for
With 173 locations in 128 cities, Comfort Systems USA provides mechanical and electrical contracting services focused on workplace comfort.
Comfort Systems USA, Inc. (NYSE: FIX) has acquired Atlantic Electric, LLC, based in Charleston, South Carolina. This acquisition is expected to generate annual revenues of approximately $50 million and an EBITDA of around $5 million. Atlantic, established in 1969, specializes in electrical contracting and runway lighting installation in the Southeast. The deal is anticipated to be neutral to slightly accretive to earnings per share in 2022 and 2023, enhancing Comfort Systems' capabilities in key markets.
Comfort Systems USA (NYSE: FIX) reported its 2021 financial results, showing a fourth-quarter net income of $37.6 million ($1.04 per diluted share) compared to $42.8 million ($1.17) in 2020. Revenue increased to $856.1 million from $699 million. The annual net income was $143.3 million ($3.93 per diluted share), down from $150.1 million ($4.09). Operating cash flow for 2021 was $180.2 million, down from $286.5 million in 2020. The company expects an additional $30 million in after-tax income due to tax refund settlements, enhancing its outlook for 2022.
Comfort Systems USA, Inc. (NYSE: FIX) has declared a quarterly dividend of
Comfort Systems USA, Inc. (NYSE: FIX) has announced its quarterly conference call scheduled for
Comfort Systems USA, Inc. (NYSE: FIX) has acquired MEP Holding Co., Inc. and its subsidiaries, including Edwards Electrical & Mechanical, Inc., located in Indianapolis, Indiana. Edwards is projected to generate annual revenues of $85 to $95 million, with EBITDA between $6 to $8 million. Additionally, Comfort Systems USA acquired Thermal Service, LLC and Kodiak Labor Solutions, LLC. Thermal is expected to add $20 million in annual revenues, while Kodiak will bolster staffing resources. The overall impact of these acquisitions is expected to be neutral to slightly accretive to earnings per share in the next two years.
Comfort Systems USA, Inc. (NYSE: FIX) has announced a definitive agreement to acquire Ivey Mechanical Company, LLC, based in Kosciusko, Mississippi. Founded in 1947, Ivey provides mechanical contracting services across the Southeastern U.S. The acquisition is expected to contribute $150 million to $160 million in annual revenues and $7 million to $9 million in EBITDA. The deal is anticipated to be neutral to slightly accretive to earnings per share in 2022 and 2023. Comfort Systems aims to leverage Ivey's workforce and services, enhancing operational capacity and market presence.
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