Comfort Systems USA Posts Record Q2 2026: Revenue Climbs 50%, Backlog Hits $14.1B, and Cash Flow Tops $1B
FIX has more than doubled off its 52-week low of $538.26.
Summary
Comfort Systems USA reported Q2 2026 revenue of $3.27B (+50% YoY), net income of $441.6M (+91% YoY), and operating cash flow of $1.14B. Backlog reached $14.06B, and the quarterly dividend was raised to $0.90 per share.
Key Events · Earnings and Guidance · FIX
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Revenue Surges 50% to $3.27B
Driven by robust demand in technology and data center construction, Q2 2026 revenue reached $3.27 billion, up from $2.17 billion in Q2 2025.
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Net Income Nearly Doubles
Net income rose 91% to $441.6 million, or $12.53 per diluted share, compared to $230.8 million, or $6.53 per share, a year ago.
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Operating Cash Flow Exceeds $1 Billion
Operating cash flow was $1.14 billion in Q2 2026, a dramatic increase from $252.5 million in Q2 2025, reflecting improved working capital and project milestones.
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Backlog Grows to $14.06 Billion
As of June 30, 2026, backlog reached $14.06 billion, up 73% from $8.12 billion a year ago, providing strong revenue visibility into 2027.
Analysis · FIX · Real Estate & Construction
A standout quarter for Comfort Systems USA saw revenue jump 50% to $3.27 billion and net income nearly double to $441.6 million. The real story, however, is operating cash flow, which surged to $1.14 billion from just $252.5 million a year ago — a testament to exceptional project execution and working capital management. Backlog grew to $14.06 billion, up 73% year-over-year, providing strong visibility into 2027. Reflecting confidence in sustained cash generation, the board also raised the quarterly dividend by 12.5% to $0.90 per share. These results far exceed typical growth for a construction services firm and reinforce the company's dominant position in data center and technology-driven construction.
At the time of this filing, FIX was trading at $1,809.64 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $64.5B. The 52-week trading range was $538.26 to $2,073.99. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.