other material
confidence high
sentiment positive
materiality 0.65
Comfort Systems reports record $5.77B backlog; Q2 2024 revenue up 40% YoY to $1.81B
COMFORT SYSTEMS USA INC
- YTD 2024 revenue $3.35B (+35% YoY); net income $230.3M (+82% YoY); diluted EPS $6.43.
- Record construction backlog of $5.77B as of Q2 2024, up from $5.16B at FY 2023 end.
- Adjusted EBITDA YTD $392.5M (11.7% margin); operating cash flow $336.4M, far exceeding net income.
- Strong balance sheet: net debt/EBITDA 0.13x; $199.4M cash; $850M undrawn credit facility.
- Technology (31%) and manufacturing (30%) are largest market sectors for 2024 revenue.