Comfort Systems Usa, Inc. · NYSE:FIX
Comfort Systems Usa — Q2 2017 Earnings Presentation
12 slides from Comfort Systems Usa's earnings presentation, Jul 28, 2017
Slide 1: Q2 2017 Earnings Call
Q2 2017 Earnings Call (NYSE: FIX) July 28, 2017 Comfort Systems USA Quality People. Building Solutions. 1
Slide 2: Q2 2017 Financial Results Highlights
Q2 2017 Financial Results Highlights Q2 Revenue increased $37.9 million to $465.4 million Gross Profit was 20.6% vs. 20.9% in Q2 2016 SG&A increased $5.6 million to $66.6 million or 14.3% of revenue vs. $61.0 million or 14.3% of revenue in Q2 2016 EPS of $0.48 per diluted share Q2 2017 Cash Flow fro
Slide 3: Key Financial Data – Income Statement
Key Financial Data – Income Statement ($ Thousands, Except Per Share Data) (Unaudited) For the Three Months Ended June 30, Variance 2017 2016 $ % Revenue $ 465,411 100.0% $ 427,538 100.0% $ 37,873 8.9% Cost of Services 369,673 79.4% 338,112 79.1% 31,561 9.3% Gross Profit 95,738 20.6% 89,426 20.9% 6,
Slide 4: 2017 YTD Financial Results Highlights
2017 YTD Financial Results Highlights 2017 YTD Revenue increased $32.5 million to $846.0 million Gross Profit was 20.3% vs. 20.0% for the same period in 2016 SG&A increased $10.6 million to $129.8 million or 15.3% of revenue vs. $119.2 million or 14.7% of revenue for the same period in 2016 EPS of $
Slide 5: Key Financial Data – Income Statement
Key Financial Data – Income Statement ($ Thousands, Except Per Share Data) (Unaudited) For the Six Months Ended June 30, Variance 2017 2016 $ % Revenue $ 845,999 100.0% $ 813,480 100.0% $ 32,519 4.0% Cost of Services 674,307 79.7% 650,552 80.0% 23,755 3.7% Gross Profit 171,692 20.3% 162,928 20.0% 8,
Slide 6: Key Financial Data – Balance Sheet
Key Financial Data – Balance Sheet ($ Millions) 6/30/2017 12/31/2016 (Unaudited) Cash $ 34.5 $ 32.1 Working Capital $ 121.8 $ 98.3 Goodwill $ 203.2 $ 149.2 Intangible Assets, Net $ 83.3 $ 42.4 Total Debt $ 104.7 $ 2.8 Equity $ 396.9 $ 376.6 6
Slide 7: Backlog
Backlog ($ Millions) (Unaudited) $1,000 $938 $800 $785 $758 $763 $707 $712 $600 $652 $630 $618 $598 $604 $508 $400 $200 ` $0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q2 2017 7
Slide 8: Revenue by Sector
Revenue by Sector (Unaudited) 5% 7% 18% Education Healthcare 12% Government Industrial/ Distribution 13% Office Buildings Retail / Restaurants / Entertainment 15% 8% Multi-Family / Residential Other 22% 8
Slide 9: Revenue by Activity
Revenue by Activity (Unaudited) YTD June 2017 2016 11% 11% 31% 31% 19% 18% 39% 40% New Construction Existing Building Construction Service Projects Service & Maintenance 9
Slide 10: Appendix
APPENDIX COMFORT LIGAN
Slide 11: Appendix I – GAAP Reconciliation to Adjusted EBITDA
Appendix I – GAAP Reconciliation to Adjusted EBITDA ($ Thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Net Income $ 17,972 $ 17,717 $ 25,449 $ 27,558 Income Tax Expense 9,711 9,847 13,603 15,249 Other Expense (Income), net (29) 111 (47) (375) Changes
Slide 12: Appendix II – GAAP Reconciliation to Free Cash Flow
Appendix II – GAAP Reconciliation to Free Cash Flow ($ Thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Cash from Operating Activities $ 11,127 $ 23,304 $ 21,180 $ 36,421 Purchases of Property and Equipment (6,569) (7,139) (11,646) (10,904) Proceeds fr