Comfort Systems USA Inc (NYSE:FIX) Q1 2023 Earnings Conference Call April 27, 2023 11:30 AM ET

Company Participants

Julie Shaeff - Senior VP & CAO

Brian Lane - CEO, President & Director

Bill George - Executive VP & CFO

Conference Call Participants

Julio Romero - Sidoti & Company

Sean Eastman - KeyBanc Capital Markets

Adam Thalhimer - Thompson Davis

Brent Thielman - D.A. Davidson

Operator

Good day, and thank you for standing by. Welcome to the Q1 2023 Comfort Systems USA Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Julie Shaeff, Chief Accounting Officer. Please go ahead.

Julie Shaeff

Thanks, Rica [ph]. Good morning. Welcome to Comfort Systems USA's first quarter 2023 earnings call. Our comments today, as well as our press releases contain forward-looking statements within the meaning of the applicable securities laws and regulation. 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. Thanks, Julie. Good morning, everyone, and thank you for joining us on the call today. We have had a great beginning to 2023 with increased revenue and pre-tax earnings, unusually strong cash flow, and another increase in backlog. Our teams delivered amazing execution and we are very grateful for their hard work.

Excluding the private tax gain that Bill will discuss in a few minutes, we are in $1.51 per share and that included $0.15 related to the favorable resolution of certain claims related disputes.