Comfort Systems (FIX) Earnings Call Transcript
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 20, 2026
AI-Generated Deep Dive Summary
Comfort Systems USA (FIX) delivered strong financial results in its latest earnings call, showcasing robust growth across key metrics. The company reported a 35% same-store revenue increase driven by accelerated project volumes, with quarterly gross margin improving to 25.5%, up from 23.2% in the previous year. Earnings per share (EPS) jumped to $9.37 for the quarter and $28.88 annually, reflecting a 129% and 98% year-over-year growth, respectively. The company also highlighted a record backlog of $12 billion, with same-store backlog up 93% year over year, particularly driven by technology bookings.
One of the standout figures was Comfort Systems' operating cash flow, which reached $1.2 billion in 2025, providing ample resources for investment and growth. Quarterly operating income rose 89% to $427 million, with an operating margin expanding to 16.1% from 12.1%. The company's full-year EBITDA reached $1.45 billion, marking a significant improvement in profitability.
The earnings call also revealed that the industrial sector, including technology work, accounted for 67% of revenue, with data centers representing 45% of total revenue. This shift highlights Comfort Systems' strategic focus on hyperscaler clients and their growing demand for modular solutions. The company plans to expand its modular capacity from 3 million square feet to 4 million by the end of 2026, with a particular emphasis on meeting the needs of its two largest hyperscaler customers.
Key financial details included SG&A expenses of $248 million (9.4% of revenue) for the quarter, compared to $208 million in 2024. Capital expenditures totaled $15
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Originally published on The Motley Fool on 2/20/2026