7/26/2024

speaker
Operator
Conference Call Operator

Good day, and thank you for standing by. Welcome to the Q2 2024 Comfort Systems 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 will 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. I would now like to hand the conference over to your speaker today, Julie Schaaf, Chief Accounting Officer. Please go ahead.

speaker
Julie Schaaf
Chief Accounting Officer

Thanks, Daniel. Good morning. Welcome to Comfort Systems USA's second 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 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 is provided as a companion to our remarks and 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.

speaker
Brian Lane
President and Chief Executive Officer

Okay. Thanks, Julie. Good morning, everyone, and thank you for joining us for the call today. We had a fantastic quarter as our teams achieved superb execution for our customers. We earned $3.74 per share this quarter, which is an increase of over 90% compared to a year ago. Our mechanical business exceeded last year, and our electrical segment achieved unprecedented margins. Both operating income and EBITDA dollars increased by 100% this quarter compared to 2023. Demand remains strong, especially in the industrial sector, including technology and other manufacturing customers. Our backlog continues to track at high levels despite our strong revenue for the quarter. Backlog is $5.8 billion. far higher on both an absolute and a same-store basis than this time last year. And we continue to select work that has good margins and good working conditions for our valuable people. 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. Bill?

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

-

-

Investor presentation