Comfort Systems USA, Inc.

Good day, and thank you for standing by. And welcome to the Q1 2024 Comfort System USA earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. Would now like to hand the conference over to your speaker today, Julie Safe, Chief Accounting Officer. Please go ahead.

Thanks, Justin. Good morning. Welcome to Comfort Systems USA's first quarter 2024 earnings call. Our comments today as well as our press releases contain forward-looking statements within the meaning of the applicable securities laws and regulations. What we will say today is based on 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. This 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. Thanks, Julie.

Good morning, everyone, and thank you for joining us on the call today. 2024 is off to an outstanding start. with strong revenue, fantastic margins, and continuing strong cash flow. Our dedicated teams across the country achieved superb execution, and I am deeply grateful for their hard work and commitment. We earned $2.69 per share this quarter compared to $1.59 a year ago. Our revenue was $1.5 billion, with same-store growth of 23%. Our mechanical business exceeded last year, while our electrical segment achieved unprecedented margins. Backlog is $5.9 billion, up both year-over-year and sequentially on a same-store basis. Construction continues to thrive amid strong ongoing demand, and service is performing at high levels. In February, we closed two substantial acquisitions, Summit Industrial and J&S Mechanical, and they too are off to a great start. Both of these companies are included in our mechanical segments. We also increased our dividend by 20%, adding $0.05 to reach $0.30 per share. This increase 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.