Comfort Systems USA, Inc.

Good day and thank you for standing by. Welcome to the third quarter 2024 Conference 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 this session you will need to press star 1 1 on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw your question please press star 1 1 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 Shafe, Chief Accounting Officer. Please go ahead.

Thanks, Michelle. Good morning. Welcome to Comfort Systems USA's third 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 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.

Okay. Thanks, Julie. Good morning, everyone, and thank you for joining our call. Today we are reporting record earnings and extraordinary cash flow, as our teams continue great execution for our customers. We earned $4.09 per share this quarter, up 40% from last year. Our electrical segment achieved unprecedented margins, and mechanical margins continue to be strong. Operating income is 50% higher than even our strong third quarter last year. Backlog continues far above last year as bookings were strong, even though we burned through work at a record pace. Same store quarterly revenue was higher by 18% and revenue was up 23% year to date. Entering the fourth quarter, same store backlog is 21% higher than it was at this time last year. and we are experiencing exceptional strength in our pipelines. We are in the fortunate position of being able to choose the work we take. Given these strong conditions and the confidence we have in our unmatched workforce, we expect continued strong results in the fourth quarter and in 2025. Cash flow surpassed any previous quarter. and that extraordinary cash flow is both a great base for continued investment and a clear indicator of strong underlying trends in our execution, customer relationships, and prospects. We also increased our quarterly dividend by $0.05 to $0.35 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. Bill?