Summary
Comfort Systems USA Inc. (FIX) filed its quarterly report for the period ending March 30, 2015. The company addressed ongoing legal proceedings, noting that while aware of claims and lawsuits, management believes these will not materially impact financial condition or results. The company also provided an update on its stock repurchase program, stating that no shares were repurchased during the current quarter, maintaining a cumulative total of 6.6 million shares bought since inception under approved programs. The total authorized for repurchase remains at 994,815 shares.
Financial Highlights
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Financial Statements
Beta
| Revenue | $369.55M |
| Cost of Revenue | $304.86M |
| Gross Profit | $64.69M |
| SG&A Expenses | $53.70M |
| Operating Income | $11.17M |
| Interest Expense | $505K |
| Net Income | $5.07M |
| EPS (Basic) | $0.14 |
| EPS (Diluted) | $0.13 |
| Shares Outstanding (Basic) | 37.28M |
| Shares Outstanding (Diluted) | 37.60M |
Key Highlights
- 1No material adverse impact expected from current legal proceedings.
- 2No shares were repurchased during the quarter ended March 31, 2015.
- 3Cumulative share repurchases since inception total 6.6 million shares.
- 4Remaining authorization for share repurchases stands at 994,815 shares.
- 5The company referenced its 2014 Form 10-K for a comprehensive list of risk factors, indicating no new significant risks were detailed in this quarterly report.
- 6Details on unregistered sales of equity securities confirm none occurred.
- 7The filing includes exhibits related to the company's incorporation documents, bylaws, and incentive compensation plans.
Frequently Asked Questions
Comfort Systems USA Inc. is subject to claims and lawsuits in the normal course of business. The company has estimated and accrued for probable losses. Management currently believes that resolving these matters, individually or in aggregate, will not have a material adverse impact on the company's operating results, cash flows, or financial condition.
No, Comfort Systems USA Inc. did not repurchase any shares of its common stock during the quarter ended March 31, 2015. The company has a stock repurchase program in place, under which it has cumulatively repurchased 6.6 million shares since its inception.
This quarterly report does not introduce new risk factors. Investors are directed to consider the risk factors previously discussed in Part 1, Item 1A of the company's Annual Report on Form 10-K for the year ended December 31, 2014.
As of March 31, 2015, 994,815 shares may yet be purchased under the company's stock repurchase program.