Comfort Systems USA Revenue Surges 56% to $2.87 Billion in Q1 2026
The mechanical services contractor posted $2.87 billion in revenue for the quarter ending March 31, up from $1.83 billion in the prior-year period. Net income more than doubled to $370.4 million.
Comfort Systems USA, Inc. (NYSE: FIX), a provider of mechanical and electrical contracting services, reported revenue of $2.87 billion for the three months ending March 31, 2026, a 56% increase from $1.83 billion in the same quarter of 2025. Read more earnings reports.
Net income reached $370.4 million, up 119% from $169.3 million in the first quarter of 2025. Diluted earnings per share climbed to $10.51 from $4.75 a year earlier.
Operating income for the quarter totaled $485.7 million, more than double the $209.1 million recorded in the prior-year period. Gross profit jumped 87% to $754.4 million from $403.4 million.
The company generated $388.8 million in cash from operations during the quarter, a sharp reversal from the $88.0 million outflow in the first quarter of 2025. Selling, general and administrative expenses rose to $269.0 million from $194.9 million.
Total assets climbed to $6.94 billion as of March 31, 2026, up from $6.44 billion at the end of December 2025. Cash and cash equivalents stood at $1.05 billion, compared to $981.9 million at year-end 2025.
Long-term debt declined to $39.1 million from $145.2 million at the end of the prior quarter. Stockholders' equity increased to $2.82 billion from $2.45 billion as of December 31, 2025.
The company invested $184.0 million in the quarter, up from $96.8 million in the same period last year. Financing activities used $136.6 million in cash compared to $160.4 million in the prior-year quarter.
Financial Summary
| Metric | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $2,865.3 million | $1,831.3 million | +56% |
| Gross Profit | $754.4 million | $403.4 million | +87% |
| Operating Income | $485.7 million | $209.1 million | +132% |
| Net Income | $370.4 million | $169.3 million | +119% |
| Diluted EPS | $10.51 | $4.75 | +121% |
| Cash from Operations | $388.8 million | -$88.0 million | N/A |
Balance Sheet Highlights
| Item | March 31, 2026 | December 31, 2025 |
|---|---|---|
| Total Assets | $6,938.3 million | $6,441.2 million |
| Cash & Equivalents | $1,050.2 million | $981.9 million |
| Total Liabilities | $4,123.3 million | $3,992.4 million |
| Long-Term Debt | $39.1 million | $145.2 million |
| Stockholders' Equity | $2,815.0 million | $2,448.8 million |