
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q4. Today, we are looking at construction and maintenance services stocks, starting with APi (NYSE: APG).
Construction and maintenance services companies not only boast technical know-how in specialized areas but also may hold special licenses and permits. Those who work in more regulated areas can enjoy more predictable revenue streams - for example, fire escapes need to be inspected every five years. More recently, services to address energy efficiency and labor availability are also creating incremental demand. But like the broader industrials sector, construction and maintenance services companies are at the whim of economic cycles as external factors like interest rates can greatly impact the new construction that drives incremental demand for these companies’ offerings.
The 12 construction and maintenance services stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 4.7% while next quarter’s revenue guidance was 0.7% above.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 10% since the latest earnings results.
APi (NYSE: APG)
Started in 1926 as an insulation contractor, APi (NYSE: APG) provides life safety solutions and specialty services for buildings and infrastructure.
APi reported revenues of $2.12 billion, up 13.7% year on year. This print exceeded analysts’ expectations by 1.4%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ organic revenue estimates.

Unsurprisingly, the stock is down 8.3% since reporting and currently trades at $41.26.
We think APi is a good business, but is it a buy today? Read our full report here, it’s free.
Best Q4: Comfort Systems (NYSE: FIX)
Formed through the merger of 12 companies, Comfort Systems (NYSE: FIX) provides mechanical and electrical contracting services.
Comfort Systems reported revenues of $2.65 billion, up 41.7% year on year, outperforming analysts’ expectations by 13%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Comfort Systems pulled off the biggest analyst estimates beat among its peers. The market seems content with the results as the stock is up 2.9% since reporting. It currently trades at $1,413.
Is now the time to buy Comfort Systems? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: Matrix Service (NASDAQ: MTRX)
Founded in Oklahoma, Matrix Service (NASDAQ: MTRX) provides engineering, fabrication, construction, and maintenance services primarily to the energy and industrial markets.
Matrix Service reported revenues of $210.5 million, up 12.5% year on year, falling short of analysts’ expectations by 2.3%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.
As expected, the stock is down 23.4% since the results and currently trades at $10.34.
Read our full analysis of Matrix Service’s results here.
Granite Construction (NYSE: GVA)
Having played a role in the construction of the Hoover Dam, Granite Construction (NYSE: GVA) is a provider of infrastructure solutions for roads, bridges, and other projects.
Granite Construction reported revenues of $1.17 billion, up 19.2% year on year. This number beat analysts’ expectations by 0.8%. Zooming out, it was a mixed quarter as it also recorded full-year revenue guidance exceeding analysts’ expectations but a significant miss of analysts’ adjusted operating income estimates.
The stock is down 7.6% since reporting and currently trades at $123.08.
Read our full, actionable report on Granite Construction here, it’s free.
MYR Group (NASDAQ: MYRG)
Constructing electrical and phone lines in the American Midwest dating back to the 1890s, MYR Group (NASDAQ: MYRG) is a specialty contractor in the electrical construction industry.
MYR Group reported revenues of $973.5 million, up 17.3% year on year. This print topped analysts’ expectations by 8%. Overall, it was an incredible quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
The stock is down 2.4% since reporting and currently trades at $267.43.
Read our full, actionable report on MYR Group here, it’s free.
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