Comfort Systems USA, Inc. (NYSE:FIX) Q2 2023 Results Conference Call July 27, 2023 11:30 AM ET

Company Participants

Julie Shaeff - CAO

Brian Lane - President, CEO

Bill George - CFO

Conference Call Participants

Adam Thalhimer - Thomson Davis

Brent Thielman - D.A. Davidson

Joshua Chan - UBS

Julio Romero - Sidoti

Sean Eastman - KeyBanc

Operator

Thank you for standing by, and welcome to the Q2 2023 Comfort Systems USA Earnings Conference Call. [Operator Instructions] Please be advised that today's call is being recorded.

I would now like to turn the call over to Julie Shaeff, Chief Accounting Officer. Please go ahead.

Julie Shaeff

Thanks, Valerie. Good morning. Welcome to Comfort System USA's Second Quarter 2023 Earnings Call. Our comments today as well as our press releases contain forward-looking statements within the meaning of the applicable security laws and regulations. What we will say today is based upon the current plans and expectations of Comfort Systems USA. Those plans and expectations include risks and uncertainties that might cause actual future activities and results of our operations to be materially different from those set forth in our comments. You can read a detailed listing and commentary concerning our specific risk factors in our most recent Form 10-K and Form 10-Q as well as in our press release covering these earnings.

A slide presentation has been provided as a companion to our remarks. The presentation is posted on the Investor Relations section of the company's website found at comfortsystemsusa.com.

Joining me on the call today are Brian Lane, President and Chief Executive Officer; Trent McKenna, Chief Operating Officer; and Bill George, Chief Financial Officer. Brian will open our remarks.

Brian Lane

All right. Thank you, Julie. Good morning, everyone, and thank you for joining us on the call today. We had another great quarter. Our teams delivered remarkable execution, and we are grateful for their dedication, especially in this very hot weather. We have never had a stronger demand environment, and we are carefully selecting work that has good margins and good working conditions for our valuable people.

We earned $1.93 per share this quarter compared to $1.17 a year ago. Current quarter revenue was $1.3 billion with same-store growth of 24%, reflecting strong ongoing demand in our markets. Our mechanical operations continued to perform at high levels, and Electrical segment margins increased significantly. This quarter includes continued growth and solid performance in our modular business and service has maintained its upward trajectory.