HVAC and electrical contractor Comfort Systems (NYSE:FIX) will be reporting results tomorrow after market close. Here’s what to expect.
Comfort Systems beat analysts’ revenue expectations by 5.5% last quarter, reporting revenues of $1.87 billion, up 37.6% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EBITDA estimates.
Is Comfort Systems a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Comfort Systems’s revenue to grow 14.4% year on year to $1.76 billion, slowing from the 30.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.71 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Comfort Systems has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 4.6% on average.
With Comfort Systems being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for construction and engineering stocks. However, the whole sector has faced a sell-off over the last month with stocks in Comfort Systems’s peer group down 7.7% on average. Comfort Systems is down 4.3% during the same time and is heading into earnings with an average analyst price target of $493 (compared to the current share price of $357).
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