Comfort Systems USA Inc
NYSE:FIX

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Comfort Systems USA Inc Logo
Comfort Systems USA Inc
NYSE:FIX
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Price: 968.48 USD 0.05% Market Closed
Market Cap: 34.2B USD

Comfort Systems USA Inc
Investor Relations

Founded in 1997, Comfort Systems USA Inc. has crafted a niche in the HVAC services sector, growing into a national behemoth while maintaining a local touch. The company, by strategically acquiring and integrating numerous regional HVAC businesses, has constructed a sprawling network of service centers across the United States. This network allows them to cater to the diverse heating, ventilation, and air conditioning needs of both commercial and industrial clients. Each acquisition isn't merely an expansion in size, but an increase in the treasure trove of local expertise and relationships, permitting Comfort Systems USA to leverage the intimate knowledge these smaller firms have of their communities while still benefiting from the efficiencies of scale and centralized operations.

The company earns its revenue through a blend of project-based contracts and maintenance agreements, providing design, installation, and ongoing service for HVAC systems. The business model pivots on a balanced combination of one-time installation revenues and recurring maintenance contracts, the latter providing a steady income stream and fostering long-term relationships with customers. This dual approach not only ensures a diversified revenue stream but also strategically positions Comfort Systems USA to pivot as customer needs evolve, allowing them to maintain a steady presence in the US market regardless of economic fluctuations. Through these adept strategies, Comfort Systems USA has not just grown; it has thrived, maintaining a deft equilibrium between expansion and sustainable, reliable service.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 24, 2025
AI Summary
Q3 2025

EPS Surge: Comfort Systems USA reported Q3 EPS of $8.25, double the prior year's $4.09.

Record Revenue: Q3 revenue reached $2.5 billion, up 35% year-over-year, driven by strong growth in both Electrical and Mechanical segments.

Backlog Growth: Backlog hit a record $9.4 billion, up $3.7 billion (65%) from last year, with two consecutive quarters of over $1 billion sequential increases.

Strong Margins: Gross margin rose to 24.8%, up from 21.1% a year ago, reflecting favorable project outcomes and ongoing execution.

Cash Generation: Free cash flow for the quarter was $519 million, and net cash position reached $725 million.

Acquisitions: Two companies were acquired in October, expected to add over $200 million of annual revenue and $15–$20 million EBITDA.

Dividend Increased: Quarterly dividend was raised by 20% to $0.60 per share.

Positive Outlook: Management expects continued strong growth and profitability into 2025 and 2026.

Key Financials
EPS
$8.25
Revenue
$2.5 billion
Backlog
$9.4 billion
Gross Profit
$608 million
Gross Margin
24.8%
Mechanical Segment Gross Margin
24.3%
Electrical Segment Gross Margin
26.2%
SG&A Expense
$230 million
SG&A as % of Revenue
9.4%
Operating Income
$379 million
Operating Margin
15.5%
Net Income
$292 million
EBITDA
$414 million
Trailing 12-Month EBITDA
$1.25 billion
Free Cash Flow (quarter)
$519 million
Free Cash Flow (year-to-date)
$632 million
Net Cash Position
$725 million
Share Buybacks (YTD)
$125 million (345,000 shares at $363.13 average price)
Quarterly Dividend
$0.60 per share
Tax Rate (YTD)
20.9%
Acquisition Contribution (annualized)
$200 million revenue; $15–$20 million EBITDA
Earnings Call Recording
Other Earnings Calls

Management

Mr. Brian E. Lane
CEO, President & Director
No Bio Available
Mr. William George III
Executive VP & CFO
No Bio Available
Mr. Trent T. McKenna J.D.
Executive VP & COO
No Bio Available
Ms. Julie S. Shaeff CPA
Senior VP & Chief Accounting Officer
No Bio Available
Mr. Terrence M. Reed
Senior VP & Chief Human Resources Officer
No Bio Available
Brian Evans
Regional President
No Bio Available
Briston Blair
Senior Vice President of Innovation & Strategy
No Bio Available
Mr. Joseph Nichter Jr.
President of Comfort Systems USA Southwest
No Bio Available
Michael Goldberg
VP & Corporate Controller
No Bio Available

Contacts

Address
TEXAS
Houston
675 Bering Dr Ste 400
Contacts