Comfort Systems USA Inc (NYSE:FIX) Q4 2022 Results Conference Call February 23, 2023 12:00 PM ET

Company Participants

Julie Shaeff - Senior VP & CAO

Brian Lane - CEO, President & Director

Bill George - Executive VP & CFO

Conference Call Participants

Julio Romero - Sidoti

Brent Thielman - D.A. Davidson

Adam Thalhimer - Thompson Davis

Alex Dwyer - KeyBanc Capital Markets

Operator

Good day, and thank you for standing by, and welcome to the Q4 2022 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, Justin. Good morning. Welcome to Comfort Systems USA's fourth quarter and full year 2022 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 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 are pleased to report a great finish to 2022 with increased revenue, record earnings, fantastic cash flow and a surge of backlog.

Our teams delivered amazing execution, and we are grateful for their hard work. For the fourth quarter, we earned $1.54 per share on revenue of $1.1 billion. Full year revenue surpassed $4 billion and included same-store revenue growth of 22%. Backlog received an especially strong lift this quarter and our modular off-site construction operations as large customer purchases were committed in advance to support our ability to invest in modular construction capacity.