Comfort Systems USA, Inc.

Thank you for standing by and welcome to the Q2 2023 Conference Systems USA Earnings Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentations, there will be a question and answer session. To ask a question at that time, please press star 11 on your telephone. Please be advised that today's call is being recorded. I would like to turn the call over to Julie Shape, Chief Accounting Officer. Please go ahead. Thanks, Valerie.

Good morning. Welcome to Comfort Systems USA's second quarter 2023 earnings call. Our comments today, as well as our press releases, contain forward-looking statements within the meaning of the applicable security laws and regulations. What we will say today is based upon the current plans and expectations of Comfort Systems USA. Those plans and expectations include risks and uncertainties that might cause actual future activities and results of our operations to be materially different from those set forth in our comments. You can read a detailed listing and commentary concerning our specific risk factors in our most recent Form 10-K and Form 10-Q, as well as in our press release covering these earnings. A slide presentation has been provided as a companion to our remarks. The presentation is posted on the investor relations section of the company's website found at comfortsystemsusa.com. Joining me on the call today are Brian Lane, President and Chief Executive Officer, Trent McKenna, Chief Operating Officer, and Bill George, Chief Financial Officer. Brian will open our remarks.

All right. Thank you, Julie. Good morning, everyone, and thank you for joining us on the call today. We had another great quarter. Our teams delivered remarkable execution, and we are grateful for their dedication, especially in this very hot weather. We have never had a stronger demand environment, and we are carefully selecting work that has good margins and good working conditions for our valuable people. We earned $1.93 per share this quarter compared to $1.17 a year ago. Current quarter revenue was $1.3 billion, with same-store growth of 24 percent, reflecting strong ongoing demand in our markets. Our mechanical operations continued to perform at high levels, and electrical segment margins increased significantly. This quarter includes continued growth and solid performance in our modular business, and service has maintained its upward trajectory. Additionally, our backlog continues to track at unprecedented levels despite a strong revenue for the quarter. Backlog is $4.2 billion, which is $1.4 billion higher than it was at the same time last year. A strong execution and favorable payment terms on new work helped us achieve $100 million of cash flow in the second quarter. Today, we also increased our quarterly dividend by 2.5 cents to 22.5 cents per share. which reflects our continuing strong cash flow and our commitment to reward our shareholders. I will discuss our business and outlook in a few minutes, but first I will turn this call over to Bill to review our financial performance.