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HOUSTON - Comfort Systems USA, Inc. (NYSE:FIX) reported fourth quarter earnings that significantly exceeded analyst expectations, sending its stock soaring over 7% in after-hours trading.
The heating, ventilation and air conditioning services provider posted adjusted earnings per share of $4.09, handily beating the consensus estimate of $3.66. Revenue jumped 37.6% YoY to $1.87 billion, also topping analyst projections of $1.77 billion.
"We are reporting record annual and fourth quarter earnings as our amazing teams across the United States continue their excellent performance," said Brian Lane, Comfort Systems USA’s President and CEO.
The company’s backlog grew to $5.99 billion as of December 31, 2024, up from $5.16 billion a year earlier, indicating strong future demand.
Comfort Systems generated robust free cash flow of $171.7 million in Q4, up from $148.6 million in the prior-year period. For the full year 2024, free cash flow reached $743.5 million.
Looking ahead, Lane expressed optimism about 2025, citing "an unprecedented and broadly based backlog, healthy project pipelines, persistent demand for construction services relating to advanced technology, and an unmatched workforce."
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