By Adam L. Cataldo
Shares of Comfort Systems USA gained after it posted results that topped forecasts.
The stock was up 9.4%, to $411.50, in post-market trading Thursday. Shares are up 21% in the past year.
Comfort Systems reported a profit for the first quarter of $169.3 million, and earnings per share of $4.75, ahead of the $96.3 million and $2.69 posted in the same period a year ago.
Revenue rose 19%, to $1.83 billion, beating the $1.77 billion expected by analysts polled by FactSet.
"Our backlog grew significantly as we reported over $800 million in sequential same-store backlog growth," Chief Executive Officer Brian Lane said. "We believe that our strong earnings, significant backlog increase, and strong project pipelines indicate continued strength in our execution, customer relationships, and prospects."
The Houston company also boosted its dividend by almost 13%, to 45 cents a share. The new dividend amounts to $1.80 annually and is equivalent to a yield of 0.5% based on the stock's last closing price of $376.21.
Comfort Systems USA describes itself a provider of commercial, industrial and institutional heating, ventilation, air conditioning and electrical contracting services.
Write to Adam L. Cataldo at adam.cataldo@wsj.com
(END) Dow Jones Newswires
April 24, 2025 19:51 ET (23:51 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.