Comfort Systems USA Inc 2024年度报告

WHERE WE OPERATE Comfort Systems USA is a leading provider of commercial, industrial and institutional heating,ventilation, air conditioning and electrical contracting services. SELECTED FINANCIAL INFORMATION FROM FORM 10-K (in thousands, except per share amounts) DEAR FELLOWSHAREHOLDERS DURING 2024 OUR EXTRAORDINARY TEAMS ACROSS THEUNITED STATES ACHIEVED REMARKABLE NEW MILESTONESFOR REVENUE, INCOME, CASH, AND BACKLOG. Our2024revenue was$7.0billion, comparedwith$5.2billion in2023. We earned net incomeof$522million, or$14.60per share. Buildingon more than25consecutive years of positivecash flow, in2024our cash flow surged upward,with$849million of operating cash flow, andfree cash flow of$744million. We enter2025with backlog of$6.0billion, com-pared with a backlog of$5.2billion a year earlier. OUR FIRST PRINCIPLES Comfort Systems USA is growing and expanding our capacityto serve our customers. During2024, our workforce grew tomore than18,000people, and we continued to invest heavilyto train and reward the skilled and resolute individuals whoare the heart and foundation of our business. We continue to center our efforts on our core purpose, whichis to “Build Legacies” with our people, our customers, andthe companies that join us. As a result, we strive each dayto be the best home (i) for a craft worker or constructionprofessional to build a lifelong career, (ii) for our customers tomeet their building and service needs, and (iii) for companiesthat put people first to join, knowing that their teams will bevalued, their leadership will be empowered, and that theirlegacies will be perpetuated and built upon. Here at Comfort SystemsUSA, we succeed because we trustour companies and their expert teams to run their businesseslocally. We are convinced that success in construction andservice for mechanical and electrical systems is inherentlylocal. Our people live in their communities, and theyunderstand their customers’ needs. The people who workand run our businesses are local, linked to their workers,and connected to their customers. We skillfully build, serviceand optimize our customers’ built environment, and ourexpertise, resources and decisions are local — close to homefor our customers and projects. Each day we focus on safety, quality, and innovation.We invest to strengthen our core operating competencies andmaintain our advantage in efficiency and technology. We focuson capability, not just revenue growth. We are committed tounrivaled execution for our customers, and we insist on fairpayment for our work so that we can properly compensatethe best workforce in our industry and provide our employeeswith unmatched training and innovative resources. OUR PEOPLE The current pace of building investment in the UnitedStates is unprecedented. Owners and general contractorsneed access to an expert workforce, and we are honored tohave one of the largest skilled workforces in the buildingconstruction industry. Our employees are the heart of ourcompany, and we are committed to leading our industry inretaining, developing, and attracting talented team members.People are the foundation of every investment we have madefor nearly three decades, and as we constantly strive toattract, train, and retain the best workers in our industry, weequally strive to be worthy of their trust and commitment. Our foremost objective is to send our employees homesafely every day. In2024, we improved ourOSHArecordableincident rate that was already far below the most recentlypublished rates for our industry. We will not compromiseon our commitment to work safely, and we are committed tosustained investment in worker safety, the most importantfacet of our work. Our employees arethe heart of ourcompany, and weare committed toleading our industry inretaining, developing,and attracting talentedteam members. OUR CUSTOMERS We build and service vital buildings and processes for ourcustomers and we realize that these buildings must endurefor generations and are essential for our customers togrow and thrive. As we design and implement thesecrucial and complex systems for our customers, we focuson effective execution at all levels, relying heavily on ourjob loop to plan, track and continually improve.We provide training in project management, advancedproject management, superintendents, dispatching,service excellence and effective leadership. We continually invest in, and are gaining from, a focus ontechnology. Our innovation strategy centers on cooperativeevaluation, testing, and targeted adoption of tools andtechnologies, from fully robotic welding machines toAI-powered estimating solutions. Our commitments and investments in innovation haveimproved our productivity, helped us to further sharethe best operational practices, and have unlocked andmultiplied existing knowledge to deliver execution for ourcustomers while making Comfort SystemsUSAan ever-better place to work. OUR NEW PARTNERS Year after year amazing and complementary b