Corrected: Comfort Systems USA Q2 net income nearly doubles on strong demand
CORRECTED-Comfort Systems USA Q2 net income nearly doubles on strong demand Corrects to remove references to backlog growth from Result Drivers
Overview
U.S. HVAC contractor's Q2 revenue rose 50% yr/yr, beating analyst expectations
Net income for Q2 nearly doubled and beat analyst expectations
Company generated record Q2 operating cash flow of $1.14 bln
Outlook
Company says strong demand and backlog support optimism for results through 2026 and into 2027
Result Drivers
STRONG DEMAND - Co attributed record results to strong ongoing demand
WORKFORCE EXECUTION - CEO credited the company's workforce for continued execution and delivering record results
Company press release: ID:nBwc451nka
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $3.27 bln | $2.99 bln (8 Analysts) |
Q2 Net Income | Beat | $441.60 mln | $367.50 mln (6 Analysts) |
Q2 Operating Income | Beat | $557.97 mln | $478.59 mln (7 Analysts) |
Q2 Pretax Profit | Beat | $566.24 mln | $468.48 mln (5 Analysts) |
Q2 Gross Profit |
| $844.23 mln |
|
Q2 Operating Cash Flow |
| $1.14 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Comfort Systems USA Inc is $2,050.00, about 14.5% above its July 22 closing price of $1,791.06
The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 36 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)