April 23, 2026 – Comfort Systems USA, Inc. (NYSE: FIX), a leading provider of heating, ventilation, air conditioning, and electrical contracting services, announced its financial results for the first quarter ending March 31, 2026. The company showcased remarkable growth, reflecting its robust operational capabilities and increasing market demand, positioning it for a prosperous year ahead.

1. Record Financial Performance

For the first quarter of 2026, Comfort Systems USA reported net income of $370.4 million, equating to $10.51 per diluted share. This marks a significant increase from the $169.3 million, or $4.75 per diluted share, reported in the same period last year. The surge in profitability was supported by a substantial rise in revenue, which reached $2.87 billion, compared to $1.83 billion in Q1 2025.

The company also reported operating cash inflows of $388.8 million this quarter, a stark contrast to the $88.0 million in cash outflows recorded during the first quarter of the previous year. This turnaround in cash flow is indicative of the company's improved operational efficiency and financial health.

2. Backlog Growth Indicates Strong Demand

The backlog as of March 31, 2026, stood at a formidable $12.45 billion, an increase from $11.94 billion at the end of 2025 and a substantial rise from $6.89 billion a year prior. Notably, on a same-store basis, backlog increased from $6.89 billion in Q1 2025 to $12.21 billion in Q1 2026, signaling strong ongoing demand for Comfort Systems USA's services.

CEO's Optimistic Outlook

Brian Lane, Chief Executive Officer of Comfort Systems USA, expressed pride in the company’s performance, stating, “Our growing teams continue to achieve masterful performance across the United States, and their excellence and dedication is delivering unmatched outcomes for our customers and communities.” Lane highlighted the organic revenue growth of 51% compared to the same quarter last year, emphasizing that earnings per share have more than doubled.

Lane further noted, “Our capabilities and reputation, combined with robust ongoing demand, resulted in higher backlog even with increased burn rates.” His comments reflect a positive sentiment regarding the company's future prospects, stating optimism about upcoming quarters driven by strong pipelines and continued demand.

3. Financial Summary

Key Financial Metrics:

Net Income: $370.4 million (Q1 2026) vs. $169.3 million (Q1 2025)

Revenue: $2.87 billion (Q1 2026) vs. $1.83 billion (Q1 2025)

Operating Cash Flow: $388.8 million (Q1 2026) vs. $(88.0 million) (Q1 2025)

Backlog: $12.45 billion (as of March 31, 2026)

Earnings Breakdown:

Diluted Earnings Per Share: $10.51 (Q1 2026) vs. $4.75 (Q1 2025)

Gross Profit Margin: 26.3% (Q1 2026) vs. 22.0% (Q1 2025)

4. Future Outlook

Comfort Systems USA will host a webcast and conference call on April 24, 2026, at 10:00 a.m. Central Time to discuss its financial results in detail and provide insights into its strategic direction. Interested participants can register for the call via the company's website.

As one of the foremost providers in its field, Comfort Systems USA continues to demonstrate resilience and growth potential, setting a strong foundation for future success amidst a buoyant market environment.

Original press release