Comfort Systems Usa, Inc. · NYSE:FIX
Comfort Systems Usa — Q1 2017 Earnings Presentation
10 slides from Comfort Systems Usa's earnings presentation, Apr 27, 2017
Slide 1: Q1 2017 Earnings Call
Q1 2017 Earnings Call (NYSE: FIX) April 27, 2017 Comfort Systems USA Quality People. Building Solutions. 1
Slide 2: Q1 2017 Financial Results Highlights
Q1 2017 Financial Results Highlights Q1 Revenue of $380.6 million vs. $385.9 million in Q1 2016 Gross Profit was 20.0% vs. 19.0% in Q1 2016 SG&A increased $5.1 million to $63.2 million or 16.6% of revenue vs. $58.2 million or 15.1% of revenue in Q1 2016 EPS of $0.20 per diluted share Q1 2017 Cash Fl
Slide 3: Key Financial Data – Income Statement
Key Financial Data – Income Statement ($ Thousands, Except Per Share Data) (Unaudited) For the Three Months Ended March 31, Variance 2017 2016 $ % Revenue $ 380,588 100.0% $ 385,942 100.0% $ (5,354) -1.4% Cost of Services 304,634 80.0% 312,440 81.0% (7,806) -2.5% Gross Profit 75,954 20.0% 73,502 19.
Slide 4: Key Financial Data – Balance Sheet
Key Financial Data – Balance Sheet ($ Millions) 3/31/2017 12/31/2016 Cash $ 31.4 $ 32.1 Working Capital $ 103.4 $ 98.3 Goodwill $ 148.1 $ 149.2 Intangible Assets, Net $ 40.9 $ 42.4 Total Debt $ 2.0 $ 2.8 Equity $ 382.0 $ 376.6 4
Slide 5: Backlog
Backlog ($ Millions) (Unaudited) $1,000 $800 $863 $785 $758 $763 $707 $712 $600 $652 $630 $618 $598 $604 $508 $400 $200 ` $0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q1 2017 5
Slide 6: Revenue by Sector
Revenue by Sector 4% 7% 16% Education Healthcare 12% Government 14% Industrial/ Distribution Office Buildings 14% Retail / Restaurants / Entertainment 10% Multi-Family / Residential Other 23% 6
Slide 7: Revenue by Activity
Revenue by Activity YTD March 2017 2016 11% 11% 31% 31% 19% 18% 39% 40% New Construction Existing Building Construction Service Projects Service & Maintenance 7
Slide 8: Appendix
APPENDIX COMFORT LIGAN
Slide 9: Appendix I – GAAP Reconciliation to Adjusted EBITDA
Appendix I – GAAP Reconciliation to Adjusted EBITDA (Unaudited) ($ Thousands) Three Months Ended March 31, 2017 2016 Net Income Including Noncontrolling Interests $ 7,477 $ 9,841 Income Tax Expense 3,892 5,402 Other Expense (Income), net (18) (486) Changes in the Fair Value of Contingent Earn-out Ob
Slide 10: Appendix II – GAAP Reconciliation to Free Cash Flow
Appendix II – GAAP Reconciliation to Free Cash Flow ($ Thousands) Three Months Ended March 31, 2017 2016 Cash from Operating Activities $ 10,053 $ 13,117 Purchases of Property and Equipment (5,077) (3,765) Proceeds from Sales of Property and Equipment 292 220 Free Cash Flow $ 5,268 $ 9,572 Note: Fre