Comfort Systems Usa, Inc. · NYSE:FIX
Comfort Systems Usa — Q3 2017 Earnings Presentation
12 slides from Comfort Systems Usa's earnings presentation, Oct 27, 2017
Slide 1: Q3 2017 Earnings Call
Q3 2017 Earnings Call (NYSE: FIX) October 27, 2017 Comfort Systems USA Quality People. Building Solutions. 1
Slide 2: Q3 2017 Financial Results Highlights
Q3 2017 Financial Results Highlights Q3 Revenue increased $52.1 million to $480.9 million Gross Profit was 21.0% vs. 21.6% in Q3 2016 SG&A increased $5.7 million to $66.7 million or 13.9% of revenue vs. $61.0 million or 14.2% of revenue in Q3 2016 EPS of $0.59 per diluted share Q3 2017 Cash Flow fro
Slide 3: Key Financial Data – Income Statement
Key Financial Data – Income Statement ($ Thousands, Except Per Share Data) (Unaudited) For the Three Months Ended September 30, Variance 2017 2016 $ % Revenue $ 480,851 100.0% $ 428,760 100.0% $ 52,091 12.1% Cost of Services 379,993 79.0% 335,944 78.4% 44,049 13.1% Gross Profit 100,858 21.0% 92,816
Slide 4: 2017 YTD Financial Results Highlights
2017 YTD Financial Results Highlights 2017 YTD Revenue increased $84.6 million to $1,326.9 million Gross Profit was 20.5% vs. 20.6% for the same period in 2016 SG&A increased $16.3 million to $196.6 million or 14.8% of revenue vs. $180.2 million or 14.5% of revenue for the same period in 2016 EPS of
Slide 5: Key Financial Data – Income Statement
Key Financial Data – Income Statement ($ Thousands, Except Per Share Data) (Unaudited) For the Nine Months Ended September 30, Variance 2017 2016 $ % Revenue $ 1,326,850 100.0% $ 1,242,240 100.0% $ 84,610 6.8% Cost of Services 1,054,300 79.5% 986,496 79.4% 67,804 6.9% Gross Profit 272,550 20.5% 255,
Slide 6: Key Financial Data – Balance Sheet
Key Financial Data – Balance Sheet ($ Millions) 9/30/2017 12/31/2016 (Unaudited) Cash $ 29.5 $ 32.1 Working Capital $ 121.6 $ 98.3 Goodwill $ 203.8 $ 149.2 Intangible Assets, Net $ 78.5 $ 42.4 Total Debt $ 81.7 $ 2.8 Equity $ 411.9 $ 376.6 6
Slide 7: Backlog
Backlog ($ Millions) (Unaudited) $1,000 $800 $901 $785 $758 $763 $707 $712 $600 $652 $630 $618 $598 $604 $508 $400 $200 ` $0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q3 2017 7
Slide 8: Revenue by Sector
Revenue by Sector (Unaudited) 5% 7% 19% Education Healthcare 13% Government Industrial/ Distribution 13% Office Buildings Retail / Restaurants / Entertainment 13% Multi-Family / Residential 8% Other 22% 8
Slide 9: Revenue by Activity
Revenue by Activity (Unaudited) YTD September 2017 2016 11% 11% 32% 31% 20% 18% 37% 40% New Construction Existing Building Construction Service Projects Service & Maintenance 9
Slide 10: Appendix
APPENDIX COMFORT LIGAN
Slide 11: Appendix I – GAAP Reconciliation to Adjusted EBITDA
Appendix I – GAAP Reconciliation to Adjusted EBITDA ($ Thousands) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Net Income $ 22,284 $ 20,471 47,733 $ 48,029 Income Tax Expense 13,585 11,803 27,188 27,052 Other Expense (Income), net (10) (80) (57) (4
Slide 12: Appendix II – GAAP Reconciliation to Free Cash Flow
Appendix II – GAAP Reconciliation to Free Cash Flow ($ Thousands) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Cash from Operating Activities $ 44,512 $ 13,333 $ 65,692 $ 49,754 Purchases of Property and Equipment (5,184) (6,353) (16,830) (17,257)