Comfort Systems USA Inc 2025年季度报告

Form10-Q (MarkOne)☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF1934 Delaware(State or other jurisdiction ofIncorporation or Organization)76-0526487(I.R.S. EmployerIdentification No.)675 Bering DriveSuite400Houston,Texas77057(Address of Principal Executive Offices) (Zip Code)Registrant’s telephone number, including area code:(713)830-9600 Indicate by check mark whether the registrant (1)has filed all reports required to be filed bySection13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or forsuch shorter period that the registrant was required to file such reports), and (2)has been subject to Indicate by check mark whether the registrant has submitted electronically every InteractiveData File required to be submitted pursuant to Rule405 of RegulationS-T (Section232.405 of this Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer,a non-accelerated filer, a smaller reporting company, or an emerging growth company. See thedefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and Largeacceleratedfiler⌧Acceleratedfiler◻Non-acceleratedfiler◻Smaller reportingcompany☐Emerging growthcompany☐If an emerging growth company, indicate by check mark if the registrant has elected not touse the extended transition period for complying with any new or revised financial accountingstandards provided pursuant to Section 13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Exchange The number of shares outstanding of the issuer’s common stock as of April 18, 2025 was35,274,843(excluding treasury shares of 5,848,522). COMFORT SYSTEMS USA, INC.INDEX TO FORM 10-Q PartI—Financial InformationItem1—Financial StatementsConsolidated Balance SheetsConsolidated Statements of OperationsConsolidated Statements of Stockholders’ EquityConsolidated Statements of Cash FlowsCondensed Notes to Consolidated Financial StatementsItem2—Management’s Discussion and Analysis of Financial Condition and Results ofOperationsItem3—Quantitative and Qualitative Disclosures about Market RiskItem4—Controls and ProceduresPartII—Other InformationItem1—Legal ProceedingsItem1A—Risk FactorsItem2—Unregistered Sales of Equity Securities and Use of ProceedsItem 5—Other InformationItem6—ExhibitsSignatures The accompanying notes are an integral part of these consolidated financial statements. COMFORT SYSTEMS USA,INC. The accompanying notes are an integral part of these consolidated financial statements. The accompanying notes are an integral part of these consolidated financial statements. COMFORT SYSTEMS USA,INC. CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS March 31, 2025 (Unaudited) 1. Business and Organization Comfort Systems USA, Inc., a Delaware corporation, provides comprehensive mechanicaland electrical contracting services, which principally includes heating, ventilation and airconditioning (“HVAC”), plumbing, electrical, piping and controls, as well as off-site construction,monitoring and fire protection. We build, install, maintain, repair and replace mechanical, electrical 2. Summary of Significant Accounting Policies and Estimates Basis of Presentation These interim statements should be read in conjunction with the historical ConsolidatedFinancial Statements and related notes of Comfort Systems included in the Annual Report on The accompanying unaudited consolidated financial statements were prepared usinggenerally accepted accounting principles for interim financial information and the instructions toForm10-Q and applicable rules of RegulationS-X of the SEC. Accordingly, these financialstatements do not include all the footnotes required by generally accepted accounting principles for Use of Estimates The preparation of financial statements in conformity with generally accepted accountingprinciples requires the use of estimates and assumptions by management in determining the reportedamounts of assets and liabilities, revenue and expenses and disclosures regarding contingent assetsand liabilities. Actual results could differ from those estimates. The most significant estimates used in Recent Accounting Pronouncements Recent Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740):Improvements to Income Tax Disclosures.”This standard requires entities to disclose more detailedinformation in the reconciliation of their statutory tax rate to their effective tax rate. The standard alsorequires entities to make additional disclosures on income taxes paid as well as on certain incomestatement-related disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, In November 2024, the FASB issued ASU 2024-03, “Income Statement – ReportingComprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Table of Contents