Slide 1: Q2 2019 Earnings Call
Quality People. Building Solutions. Q2 2019 Earnings Call July 26, 2019 NYSE: FIX
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, as amended. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,”
Slide 3: Q2 2019 Financial Results Highlights
Q2 2019 Financial Results Highlights Q2 Revenue increased $115.3 million to $650.3 million compared to Q2 2018 Gross Profit was 18.5% vs. 20.8% in Q2 2018 SG&A increased $13.3 million to $84.5 million or 13.0% of revenue vs. $71.2 million or 13.3% of revenue in Q2 2018 EPS was $0.65 per diluted shar
Slide 4: Key Financial Data – Income Statement
Key Financial Data – Income Statement ($ Thousands, Except Per Share Data) (Unaudited) For the Three Months Ended June 30, Variance 2019 2018 $ % Revenue $ 650,302 100.0% $ 535,043 100.0% $ 115,259 21.5% Cost of Services 530,286 81.5% 423,860 79.2% 106,426 25.1% Gross Profit 120,016 18.5% 111,183 20
Slide 5: 2019 YTD Financial Results Highlights
2019 YTD Financial Results Highlights 2019 YTD Revenue increased $188.8 million to $1.19 billion compared to the same period in 2018 Gross Profit was 19.1% vs. 20.0% for the same period in 2018 SG&A increased $22.2 million to $163.4 million or 13.7% of revenue vs. $141.2 million or 14.1% of revenue
Slide 6: Key Financial Data – Income Statement
Key Financial Data – Income Statement ($ Thousands, Except Per Share Data) (Unaudited) For the Six Months Ended June 30, Variance 2019 2018 $ % Revenue $ 1,188,775 100.0% $ 999,984 100.0% $ 188,791 18.9% Cost of Services 962,094 80.9% 799,748 80.0% 162,346 20.3% Gross Profit 226,681 19.1% 200,236 20
Slide 7: Key Financial Data – Balance Sheet
Key Financial Data – Balance Sheet ($ Millions) 6/30/2019 12/31/2018 Cash $ 36.8 $ 45.6 Working Capital $ 199.5 $ 142.6 Goodwill $ 332.6 $ 235.2 Intangible Assets, Net $ 174.0 $ 95.3 Total Debt $ 295.0 $ 76.9 Equity $ 532.1 $ 498.0 6
Slide 8: Backlog
Backlog ($ Millions) (Unaudited) $1,600 $1,400 $1,496 $1,200 $1,166 $1,000 $948 $800 $758 $763 $600 $630 $712 $598 $618 $604 $400 $508 ` $200 $0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Q2 19 7
Slide 9: YTD Revenue by Type of Customer
YTD Revenue by Type of Customer 4.2% 5.0% 14.1% Education 9.9% Healthcare Government 15.1% Industrial 14.4% Office Buildings Retail / Restaurants / Entertainment 6.5% Multi-Family / Residential Other 30.8% 8
Slide 10: Revenue by Activity Type
Revenue by Activity Type YTD 2019 FY 2018 9.2% 9.5% 32.1% 15.3% 36.5% 16.0% 43.4% 38.0% New Construction Existing Building Construction Service Projects Service Calls, Maintenance & Monitoring 9
Slide 11: Appendix
APPENDIX COMFORT LIGAN
Slide 12: Appendix I – GAAP Reconciliation to Adjusted EBITDA
Appendix I – GAAP Reconciliation to Adjusted EBITDA ($ Thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Net Income $ 24,173 $ 32,547 44,039 49,206 Provision for Income Taxes 6,933 10,797 13,866 12,871 Other Expense (Income), net (149) (3,985) (164) (4,
Slide 13: 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, 2019 2018 2019 2018 Cash from Operating Activities $ 25,609 $ 33,667 $ 26,600 $ 37,518 Purchases of Property and Equipment (6,836) (8,535) (15,680) (14,123) Proceeds fr