Comfort Systems Usa, Inc. · NYSE:FIX
Comfort Systems Usa — Investor Presentation (March 2015)
22 slides from Comfort Systems Usa's investor presentation, Mar 17, 2015
Slide 1: Comfort Systems USA: Quality People. Building Solutions.
Comfort Systems USA Quality People. Building Solutions. March 16, 2015
Slide 2: Safe Harbor
Safe Harbor Certain statements and information in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” or other sim
Slide 3: Leading mid-market HVAC and mechanical systems provider
Comfort Systems USA 2 Leading mid-market HVAC and mechanical systems installation and service provider $1.4B Yearly revenues 7,000+ Employees 37 Operating companies Balanced construction & service portfolio
Slide 4: Broad Nationwide Footprint
Broad Nationwide Footprint 3 37 companies | 92 locations in 83 cities | 7,000+ employees
Slide 5: Revenue/Stock Price History
Revenue/Stock Price History 4 Revenue ($ in millions) Acquisition Phase and Industry Growth Sale of Assets New Acquisitions Stock Price at 12/31
Slide 6: Lifecycle Product Portfolio
Lifecycle Product Portfolio 5 5+ million nonresidential buildings Building solutions a necessity Diverse revenue streams throughout lifecycle 10 - 20 year replacement cycle Recurring service Increasing technical content Essential to energy efficiency
Slide 7: Targeted Portfolio Strategy
Targeted Portfolio Strategy 6 Light commercial to heavy commercial Continue to grow construction Leverage existing construction capabilities into retrofit market Access to new customers through service Data and manufacturing Revenue by Activity
Slide 8: Market Sectors
Market Sectors 7 December 2014 YTD Revenue Commercial Institutional Industrial
Slide 9: Book of Business
Book of Business 8 ($ in millions)
Slide 10: Diverse Project Mix
Diverse Project Mix 9 Average Project Size: $0.5M | Average Project Length: 6–9 months (Information as of December 31, 2014) Aggregate Contract Value Jobs <$1M (Value: $381M) Jobs $1M–$5M (Value: $683M) Jobs >$5M (Value: $924M)
Slide 11: Historical Financial Summary
Historical Financial Summary ($ in millions, except per share information) 10 (1) Adjusted EPS is a non-GAAP financial measure. Adjusted EPS excludes goodwill impairments, changes in the fair value of contingent earn-out obligations and tax valuation allowances. See Appendix IV for a GAAP reconcilia
Slide 12: Historical Financial Summary
Historical Financial Summary 11 (1) Operating income for 2011 excludes goodwill impairment of $57.4M. (2) Adjusted EBITDA is a non-GAAP financial measure. See Appendix III for a GAAP reconciliation to Adjusted EBITDA.
Slide 13: Balance Sheet Strength
Balance Sheet Strength $32.1M cash at December 31, 2014 Positive free cash flow for 16 consecutive years Debt capacity $40M debt at 12/31/2014 $250M revolving credit facility 2019 maturity 12
Slide 14: Profile for Growth
Profile for Growth 13 Time Earnings Grow Service Innovate Acquire Service Commercial HVAC Grow Construction
Slide 15: Our Strengths
Our Strengths 14 Long-term local relationships Collaboration Safety excellence Purchasing economics National service capability Bonding and insurance Balance sheet strength
Slide 16: Thank You
Thank You 15 $1.4 Billion $1.4 billion in yearly revenues 92 Locations Operating 37 companies across America at 92 locations in 83 cities Over 7,000 of the most qualified HVAC and Mechanical systems personnel in the USA 7,000+ Employees
Slide 17: Appendix
Appendix SoMa USA.
Slide 18: Appendix I – QTD & YTD Financial Performance
Appendix I – QTD & YTD Financial Performance 17 Three Months Ended ($ in millions, except per share information) 12/31/14 12/31/13 Revenue $356.5 $330.3 Net Income from Continuing Operations Attributable to Comfort Systems USA, Inc. $10.7 $5.6 Diluted EPS from Continuing Operations Attributable to C
Slide 19: Appendix II – GAAP Reconciliation to Adjusted EBITDA
Appendix II – GAAP Reconciliation to Adjusted EBITDA 18 Note: The Company defines adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) as net income (loss) including non-controlling interests, excluding discontinued operations, income taxes, other (income) expe
Slide 20: Appendix III – GAAP Reconciliation to Adjusted EBITDA (Historical)
Appendix III – GAAP Reconciliation to Adjusted EBITDA (Historical) 19 Note: The Company defines adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) as net income (loss) including non-controlling interests, excluding discontinued operations, income taxes, other
Slide 21: Appendix IV – Supplemental Non-GAAP Information (Historical)
Appendix IV – Supplemental Non-GAAP Information (Historical) 20 Note 1: Operating results from continuing operations attributable to Comfort Systems USA, Inc., excluding goodwill impairment, changes in the fair value of contingent earn-out obligations, tax valuation allowances and out of period adju
Slide 22: Contact
Contact Bill George Executive Vice President and CFO 1-800-723-8431 bill.george@comfortsystemsusa.com www.comfortsystemsusa.com 21
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