Comfort Systems Earnings: Here’s Why Shares are Down Now
Comfort Systems USA Inc. (NYSE:FIX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.13%.
Comfort Systems USA Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 75% to $0.21 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Decreased 1.03% to $351.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Comfort Systems USA Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.13. It missed the average revenue estimate of $353.23 million.
Quoting Management: Brian Lane, Comfort Systems USA’s Chief Executive Officer, said, “We experienced improved profitability during the quarter. Service continued to provide solid returns, and many of our construction projects benefitted from terrific execution despite tough markets. Our people have performed and improved through adversity, and as activity recovers we feel confident in our world-class team of building professionals. Although backlog declined somewhat this quarter in the midst of our busy project performance season, we feel that compared to the past few years our pipeline of work is consistent and that our operations are favorably positioned with available work.”
Key Stats (on next page)…