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USA Comfort Systems USA Reports Third Quarter 2021 Results October 27 , 2021 - Reports Strong Growth , Earnings , Backlog and Cash Flow - HOUSTON -- ( BUSINESS WIRE ) -- Oct . 27 , 2021-- Comfort Systems USA , Inc. ( NYSE : FIX ) today reported results for the quarter ended September COMFORT SYSTEMS 30 , 2021 . For the quarter ended September 30 , 2021 , net income was $ 46.3 million , or $ 1.27 per diluted share , as compared to $ 50.1 million , or $ 1.36 per diluted share , for the quarter ended September 30 , 2020. Earnings per diluted share for the third quarter of 2020 included a $ 0.17 benefit from a discrete tax item . Revenue for the third quarter of 2021 was $ 833.9 million compared to $ 714.1 million in 2020. The Company reported operating cash flow of $ 42.6 million in the current quarter compared to $ 52.6 million in 2020 . Backlog as of September 30 , 2021 was $ 1.94 billion as compared to $ 1.84 billion as of June 30 , 2021 and $ 1.43 billion as of September 30 , 2020. On a same - store basis , backlog increased from $ 1.43 billion as of September 30 , 2020 to $ 1.70 billion as of September 30 , 2021 . Brian Lane , Comfort Systems USA's President and Chief Executive Officer , said , " Our strong third quarter results demonstrate the formidable commitment and resilience of our excellent workforce as they face continuing challenges . Earnings , cash flow and growth all exceeded our high expectations . Backlog showed strong increases since last year , and even increased sequentially , which is an especially positive sign in the third quarter when we traditionally burn backlog . " The Company reported net income of $ 105.8 million , or $ 2.90 per diluted share , for the nine months ended September 30 , 2021 , as compared to $ 107.3 million , or $ 2.92 per diluted share , in 2020. The Company also reported revenue of $ 2.22 billion for the nine months ended September 30 , 2021 , as compared to $ 2.16 billion in 2020. Operating cash flow for the nine months ended September 30 , 2021 was $ 152.7 million , as compared $ 216.4 million in 2020 . Mr. Lane concluded , " We are increasingly benefiting from substantial ongoing investments in training , productivity , and technology , and in adding extraordinary new partner companies . In recent years we completed a series of transformative acquisitions that have built upon our unbroken history of profitability and cash flow . These acquisitions have increased our scale , expanded our recurring service revenue , and vastly increased our expertise in complex markets including industrial , technology and life sciences . Each investment strengthens and expands our invaluable and unmatched nationwide community of skilled workers . We are deeply grateful to our employees across the United States , and we are committed to continue providing our workers , and thus our customers , with unmatched resources , opportunities and support . " The Company will host a webcast and conference call to discuss its financial results and position on Thursday , October 28 , 2021 at 10:30 a.m. Central Time . The call - in number for this conference call is 1-877-319-0032 , and the passcode is 2065468. The call and the slide presentation to accompany the remarks can be accessed on the Company's website at www.comfortsystemsusa.com under the Investor tab . A replay of the entire call will be available on the Company's website on the next business day following the call . Comfort Systems USA® is a leading provider of commercial , industrial and institutional heating , ventilation , air conditioning and electrical contracting services , with 152 locations in 120 cities around the nation . For more information , visit the Company's website at www.comfortsystemsusa.com . Certain statements and information in this press release may constitute forward - looking statements regarding our future business expectations , which are subject to applicable securities laws and regulations . The words " believe , " " expect , " " anticipate , " " plan , " " intend , " " foresee , " " should , " " would , " " could , " or other similar expressions are intended to identify forward - looking statements , which are generally not historic in nature . These forward looking statements are based on the current expectations and beliefs of Comfort Systems USA , Inc. and its subsidiaries ( collectively , the " Company " ) concerning future developments and their effect on the Company . While the Company's management believes that these forward - looking statements are reasonable as and when made , there can be no assurance that future developments affecting the Company will be those that it anticipates , and the Company's actual results of operations , financial condition and liquidity , and the development of the industry in which the Company operates , may differ materially from those made in or suggested by the forward - looking statements contained in this press release . In addition , even if our results of operations , financial condition and liquidity , and the development of the industry in which we operate , are consistent with the forward - looking statements contained in this press release , those results or developments may not be indicative of our results or developments in subsequent periods . All comments concerning the Company's expectations for future revenue and operating results are based on the Company's forecasts for its existing operations and do not include the potential impact of any future acquisitions . The Company's forward - looking statements involve significant risks and uncertainties ( some of which are beyond the Company's control ) and assumptions that could cause actual future results to differ materially from the Company's historical experience and its present expectations or projections . Important factors that could cause actual results to differ materially from those in the forward - looking statements include , but are not limited to : the use of incorrect estimates for bidding a fixed - price contract ; undertaking contractual commitments that exceed the Company's labor resources ; failing to perform contractual obligations efficiently enough to maintain profitability ; national or regional weakness in construction activity and economic conditions ; the Company's business being negatively affected by health crises or outbreaks of disease , such as epidemics or pandemics ; financial difficulties affecting projects , vendors , customers , or subcontractors ; the Company's backlog failing to translate into actual revenue or profits ; failure of third party subcontractors and suppliers to complete work as anticipated ; difficulty in obtaining or increased costs associated with bonding and insurance ; impairment to goodwill ; errors in the Company's percentage - of - completion method of accounting ; the result of competition in the Company's markets ; the Company's decentralized management structure ; material failure to comply with varying state and local laws , regulations or requirements ; debarment from bidding on or performing government contracts ; shortages of labor and specialty building materials or material increases to the cost thereof ; retention of key management ; seasonal fluctuations in the demand for mechanical and electrical systems ; the imposition of past and future liability from environmental , safety , and health regulations including the inherent risk associated with self - insurance ; adverse litigation results ; an increase in our effective tax rate ; a material information technology failure or a material cyber security breach ; risks associated with acquisitions ; our ability to manage growth and geographically dispersed operations ; our ability to obtain financing on acceptable terms ; and other risks detailed in our reports filed with the Securities and Exchange