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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 (NYSE: FIX) has declared a quarterly dividend of $0.115 per share, payable on May 25, 2021, to stockholders of record by the close of business on May 14, 2021. As a leading provider in the heating, ventilation, air conditioning, and electrical contracting sectors, Comfort Systems operates 139 locations across 113 cities nationwide, showcasing its strong market presence.
Comfort Systems USA (NYSE: FIX) has announced a quarterly conference call scheduled for April 29, 2021, at 10:30 a.m. CT to discuss its first quarter 2021 financial results. The results will be released after the market closes on April 28, 2021. Investors can listen to the call live via the company's website. A replay will be available the following business day. Comfort Systems USA operates 139 locations across 113 U.S. cities, providing mechanical and electrical contracting services.
Comfort Systems USA reported a strong performance for Q4 and the full year 2020. Net income for Q4 was $42.8 million, or $1.17 per diluted share, up from $34.1 million in Q4 2019. Annual net income reached $150.1 million, or $4.09 per diluted share, compared to $114.3 million in 2019. Revenue for 2020 was $2.86 billion, a rise from $2.62 billion in 2019. Operating cash flow also saw significant growth, totaling $286.5 million. Despite slight decreases in backlog, the company anticipates solid profitability and cash flow in 2021, particularly in industrial and technology sectors.
Comfort Systems USA, Inc. (NYSE: FIX) has declared a quarterly dividend of $0.115 per share, an increase of $0.005 compared to the previous dividend. This dividend is payable on March 23, 2021, to stockholders on record as of the close of business on March 12, 2021. As a leading provider in HVAC and electrical contracting services, Comfort Systems USA operates 139 locations across 114 cities in the United States, emphasizing their commitment to delivering workplace comfort solutions.
Comfort Systems USA (NYSE: FIX) has scheduled its quarterly conference call for February 26, 2021, at 10:00 a.m. Central Time. The call will discuss the company's fourth quarter 2020 financial results, which will be released after market close on February 25, 2021. Interested participants can join by dialing 1-888-713-4218 and using the passcode 47939960. A replay will be available on the company's website following the call. Comfort Systems USA operates 139 locations across 114 cities, providing mechanical and electrical contracting services.
Comfort Systems USA, Inc. (NYSE: FIX) has announced its definitive agreement to acquire Tennessee Electric Company, Inc. (T E C), based in Kingsport, Tennessee. Founded in 1947, T E C specializes in multidisciplined construction and industrial services. The acquisition is projected to contribute annual revenues between $90 million and $100 million, with EBITDA estimated at $8 million to $9 million. Earnings per share impact is anticipated to be neutral to slightly accretive for 2021 and 2022. Both companies emphasize core values and potential synergies from the partnership.
Comfort Systems USA, Inc. (NYSE:FIX) announced the appointment of Trent T. McKenna as Chief Operating Officer, effective January 1, 2021. Previously a Senior Vice President, McKenna has been with the company for 16 years, contributing to its growth from 59 locations and $820 million in revenue to over 112 locations and more than $2.6 billion in revenue as of 2019. CEO Brian Lane expressed confidence in McKenna's leadership skills, emphasizing his experience in strategic planning and operations.
Comfort Systems USA, Inc. (NYSE: FIX) has approved an amendment to its stock repurchase program, allowing up to 1,000,000 additional shares to be bought back, raising the total authorized repurchase to 9,548,169 shares. As of December 8, 2020, the company had repurchased 9,293,751 shares for approximately $181.87 million. This extension will allow the company to utilize available cash for the purchases, which may occur in the open market or through private transactions, subject to market conditions.
Comfort Systems USA (NYSE: FIX) reported a net income of $50.1 million for Q3 2020, compared to $36.2 million in Q3 2019, reflecting a rise in earnings per diluted share from $0.98 to $1.36. Revenue increased slightly to $714.1 million from $706.9 million. However, operating cash flow fell to $52.6 million from $73.1 million year-over-year. The company's backlog decreased to $1.43 billion, down from $1.53 billion in Q2 2020. For the nine months ended September 30, 2020, net income was $107.3 million on revenue of $2.16 billion.
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