Summary
Comfort Systems USA Inc. (FIX) filed its quarterly report for the period ending September 29, 2014, on October 28, 2014. The company is currently involved in various legal proceedings but believes these will not materially impact its financial condition. Investors should be aware that these matters are subject to inherent uncertainties and management's assessment could change. The company also provided an update on its stock repurchase program, highlighting an extension approved on October 24, 2014, which increased the authorized shares for repurchase by an additional 1.0 million. This demonstrates a continued commitment to returning value to shareholders. During the nine months ended September 30, 2014, the company repurchased approximately 0.4 million shares.
Financial Highlights
53 data points| Revenue | $370.14M |
| Cost of Revenue | $303.69M |
| Gross Profit | $66.46M |
| SG&A Expenses | $52.20M |
| Operating Income | $14.79M |
| Interest Expense | $561K |
| Net Income | $7.61M |
| EPS (Basic) | $0.20 |
| EPS (Diluted) | $0.20 |
| Shares Outstanding (Basic) | 37.64M |
| Shares Outstanding (Diluted) | 37.92M |
Key Highlights
- 1Comfort Systems USA Inc. is subject to legal proceedings but expects no material adverse impact on financial condition.
- 2Management's assessment of legal matters is subject to inherent uncertainties.
- 3The company's Board of Directors approved an extension of its stock repurchase program, authorizing an additional 1.0 million shares.
- 4Since inception, the stock repurchase program has approved 7.6 million shares for repurchase.
- 5During the nine months ended September 30, 2014, 0.4 million shares were repurchased for approximately $6.3 million.
- 6The average repurchase price during the nine months ended September 30, 2014, was $14.73 per share.
- 7The company's financial results, cash flows, and financial condition are the primary focus for investors in assessing the impact of legal proceedings and share repurchases.