Key Takeaways for Comfort Systems Stock as of July 2026
- Revenue hit $3.27 billion in the second quarter, up 50% year over year and the first time Comfort Systems has topped $3 billion in a single quarter, while adjusted EPS jumped 92% to $12.53.
- With same-store revenue up 47% through six months, management now guides full-year same-store growth to the mid-to-high 30% range, which puts second-half growth in the high 20% to low 30% range against tougher comparisons.
- Backlog hit a record $14.1 billion, up 73% year over year.
- Calling it a milestone quarter, CEO Brian Lane told investors on the call: “This is the first time that our quarterly revenue has exceeded $3 billion.”
Comfort Systems guided to slower second-half growth even as backlog hit $14.1 billion. See how that tension shows up in FIX stock’s full financials: analyze FIX stock on TIKR for free →
Comfort Systems Crosses $3 Billion in Revenue as FIX Backlog Hits $14.1 Billion
Comfort Systems USA (FIX) crossed $3 billion in quarterly revenue for the first time in its history, reporting $3.27 billion for the second quarter of 2026, an increase of 50% from the $2.17 billion posted a year earlier. The print capped a call held July 24, 2026, in which management raised the bar again on a business that keeps compounding faster than its own prior guidance.
Backlog told the sharper story. It closed the quarter at a record $14.1 billion, up 73% year over year and 13% sequentially, with $5.6 billion of that year-over-year gain coming from existing operations rather than acquisitions. CEO Brian Lane framed the scale of the milestone on the Q2 earnings call: “This is the first time that our quarterly revenue has exceeded $3 billion.” That kind of order flow, stacked on an already elevated base, is what let the top line outrun typical construction-sector growth by a wide margin.
Profitability expanded alongside volume instead of lagging it. Gross margin rose to 25.9% from 23.5% a year ago, and SG&A fell to 8.8% of revenue from 9.7%, pushing EBIT margin up 329 basis points to 17.1%. That operating leverage flowed straight to the bottom line: net income reached $441.6 million, or $12.53 per adjusted share, up 92% from $6.53 a year earlier.
Cash conversion kept pace. Operating cash flow hit $1.14 billion for the quarter, a 351% jump from $252.5 million a year ago, and free cash flow of $998.1 million left the company sitting on more than $1.8 billion in net cash even after funding the Hunt Electric acquisition, which closed May 1 and adds about $250 million in annualized revenue.
Not every signal pointed straight up. Same-store revenue grew 47% through the first half, but management guided full-year same-store growth to the mid-to-high 30% range, implying a meaningfully slower back half against tougher year-ago comparisons. Modular capacity, meanwhile, is set to expand from 3.5 million square feet today to 5 million by late summer 2027, funded by capital spending management pegged at roughly 5% of revenue for 2026.
Comfort Systems just closed its $250 million Hunt Electric acquisition without denting its $1.8 billion net cash position. Dig into the balance sheet: review FIX stock on TIKR for free →
TIKR Values FIX Stock at $2,659, Pricing In Continued Backlog Conversion
TIKR’s mid-case model values Comfort Systems stock at $2,659 by December 2030, implying a 53% total return from the current price of $1,734, or 10% annualized over roughly 4.4 years.
A 10% annualized path over more than four years places FIX stock as a steady compounder rather than a re-rating story, a return profile investors buying into a business already growing revenue 50% in a single quarter should read as conservative.
That target reads achievable against a backlog now measured in the tens of billions and a margin structure still expanding at the pace shown this quarter. With EBIT margins up 329 basis points and free cash flow running at nearly four times last year’s level, Comfort Systems stock has the earnings power to keep closing the gap between price and target well before the 2030 realization date.
TIKR’s model puts FIX stock on a path to $2,659 with a 10% annualized return through 2030. Check the assumptions yourself: explore FIX stock on TIKR for free →
Should You Invest in Comfort Systems USA, Inc.?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
