Comfort Systems USA Inc 2026年季度报告

Form10-Q (MarkOne)☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF1934For the quarterly period ended March 31, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF1934For the transition period fromto Commission file number: 1-13011 Delaware(State or other jurisdiction ofIncorporation or Organization)76-0526487(I.R.S. EmployerIdentification No.)9753 Katy FreewaySuite700Houston, Texas 77024(Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code:(713)830-9600 Securities registered pursuant to Section 12(b) of the Act: 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 for suchshorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90days.Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive DataFile required to be submitted pursuant to Rule405 of RegulationS-T (Section232.405 of this chapter)during the preceding 12months (or for such shorter period that the registrant was required to submit suchfiles).Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of“large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Largeacceleratedfiler⌧Acceleratedfiler◻Non-acceleratedfiler◻Smaller reportingcompany☐Emerging growthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standards providedpursuant to Section 13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Exchange ActRule12b-2).Yes☐No⌧ The number of shares outstanding of the issuer’s common stock as of April 17, 2026 was35,202,424 (excluding treasury shares of 5,920,941). COMFORT SYSTEMS USA, INC.INDEX TO FORM 10-QFOR THE QUARTER ENDED MARCH 31, 2026 PagePartI—Financial Information2Item1—Financial Statements2Consolidated Balance Sheets2Consolidated Statements of Operations3Consolidated Statements of Stockholders’ Equity4Consolidated Statements of Cash Flows5Condensed Notes to Consolidated Financial Statements6Item2—Management’s Discussion and Analysis of Financial Condition and Results ofOperations20Item3—Quantitative and Qualitative Disclosures about Market Risk31Item4—Controls and Procedures31PartII—Other Information32Item1—Legal Proceedings32Item1A—Risk Factors32Item2—Unregistered Sales of Equity Securities and Use of Proceeds32Item 5—Other Information33Item6—Exhibits34Signatures35 CONSOLIDATED BALANCE SHEETS The accompanying notes are an integral part of these consolidated financial statements. COMFORT SYSTEMS USA,INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In Thousands, Except Per Share Data) (Unaudited) The accompanying notes are an integral part of these consolidated financial statements. COMFORT SYSTEMS USA,INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (In Thousands, Except Share Amounts) (Unaudited) The accompanying notes are an integral part of these consolidated financial statements. COMFORT SYSTEMS USA,INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands) (Unaudited)Three Months EndedMarch 31,20262025CASH FLOWS FROM OPERATING ACTIVITIES:Net income$ 370,378$ 169,289Adjustments to reconcile net income to net cash provided by operating activities—Amortization of identifiable intangible assets20,39420,115Depreciation expense18,56614,010Change in right-of-use assets12,6687,658Bad debt expense8381,380Deferred tax provision9562,032Amortization of debt financing costs232169Gain on sale of assets(302)(556)Changes in the fair value of contingent earn-out obligations10,3703,758Stock-based compensation19,4068,037Changes in operating assets and liabilities, net of effects of acquisitions anddivestitures—(Increase) decrease in—Receivables, net(214,734)48,265Inventories(9,881)(3,821)Prepaid expenses and other current assets(15,666)(2,044)Costs and estimated earnings in excess of billings and unbilled accounts receivable(52,575)(150,100)Other noncurrent assets(597)24Increase (decrease) in—Accounts payable and other current liabilities4,879(312,499)Billings in excess of costs and estimated earnings and deferred revenue225,017103,063Other long-term liabilities(1,121)3,270Net cash provided by (used in) operating activities388,828(87,950)CASH FLOWS FROM INVESTING ACTIVITIES:Purchases of property and equipment(147,473)(22,208)Proceeds from sales of property and equipment8741,095Cash paid for acquisitions, net of cash acquired(6,097)(68,