Comfort Systems USA(NYSE) FIX

Comfort Systems USA, Inc. helps businesses keep their buildings running. It installs and repairs heating, cooling, and electrical systems. These services support facilities like hospitals and data centers.

Where the Revenue Comes From

• Mechanical Segment: Installation and repair of heating, ventilation, and air conditioning (HVAC) systems; accounts for 71.1% of revenue in the first six months of 2026.
• Electrical Segment: Engineering and maintenance of electrical power systems in commercial facilities; represents 28.9% of revenue in the first half of 2026.
• Project Services: Construction of new systems or major replacements in facilities; accounts for 94.4% of total revenue.
• Service and Maintenance: Short-term repairs and ongoing maintenance contracts for existing systems; represents 5.6% of total revenue.

Strategic Moves and Expansion

• Acquired Hunt Electric on May 1, 2026, to expand electrical services and regional market presence.
• Purchased Feyen Zylstra and Meisner Electric on Oct. 1, 2025, adding 10.1% to electrical segment growth.
• Integrated Right Way Plumbing and Mechanical on May 1, 2025, to strengthen mechanical capabilities.
• Invested $188.9 million in building purchases during the first half of 2026 to support the growing modular construction business.
• Expanded operations to 51 locations by June 30, 2026, following recent acquisitions.

What Makes the Business Different

Comfort Systems manages 51 operating units that compete on a local and regional basis throughout the United States. The company uses modular construction to build mechanical, electrical, and plumbing (MEP) systems at its own facilities before transporting them to customers, which improves efficiency on complex projects.

Tracking the Latest Results

• Revenue reached $6.1 billion for the six-month period ended June 30, 2026, up 53.1% year over year.
• Gross profit reached $1.6 billion in the first half of 2026, up 75.0% year over year.
• Backlog grew to $14.1 billion as of June 30, 2026, up 73.1% compared to June 30, 2025.
• Free cash flow hit $1.2 billion for the first six months of 2026, compared to $113.1 million in 2025.

Bottom Line

Comfort Systems has evolved into a national provider of complex building systems with a focus on high-growth technology sectors like data centers. The company has maintained a strong financial position by generating positive free cash flow for 27 consecutive calendar years.