Summary
Comfort Systems USA, Inc. (FIX) announced in an 8-K filing dated May 23, 2022, that its Board of Directors has approved an amendment to its stock repurchase program. The amendment authorizes the acquisition of up to an additional 650,374 shares of outstanding common stock, effectively increasing the total available shares for repurchase to approximately 1,000,000 beyond what had already been purchased. As of May 17, 2022, the company had already repurchased 9,944,125 shares for a total of $233,061,710. This "top-off" amendment allows the company to continue its share buyback strategy. The repurchases will be funded by available cash and are subject to market conditions, with the company retaining the discretion to modify, suspend, extend, or terminate the program at any time.
Key Highlights
- 1Comfort Systems USA, Inc. amended its stock repurchase program.
- 2The amendment authorizes the repurchase of up to an additional 650,374 shares of common stock.
- 3This increases the total available shares for repurchase to approximately 1,000,000 beyond previously purchased shares.
- 4As of May 17, 2022, the company had already repurchased 9,944,125 shares.
- 5The total cost of shares repurchased as of May 17, 2022, was $233,061,710.
- 6Repurchases will be funded by available cash.
- 7The company's Board of Directors can modify, suspend, extend, or terminate the program at any time.