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HOUSTON - Comfort Systems USA, Inc. (NYSE:FIX) shares surged 14% after the mechanical and electrical contracting services provider reported second-quarter earnings that exceeded analyst expectations, driven by exceptional demand in key markets.
The company reported second-quarter earnings of $6.53 per share, crushing analyst estimates of $4.84 by 35%. Revenue reached $2.17 billion, surpassing the consensus estimate of $1.97 billion and representing a 20% increase from $1.81 billion in the same quarter last year. The strong performance sent the stock soaring as investors reacted to the company’s record-breaking results.
"Our businesses and their stellar teams continue to demonstrate world class performance, as we achieved earnings that far surpass all prior quarters," said Brian Lane, Comfort Systems USA’s President and Chief Executive Officer. "Per share earnings in the second quarter of 2025 was $6.53, more than 70% higher than the spectacular results we achieved in the second quarter of 2024."
Backlog reached a record $8.12 billion as of June 30, 2025, up from $6.89 billion at the end of the previous quarter and significantly higher than the $5.77 billion reported a year ago. This represents a $2.4 billion increase YoY, reflecting what the company described as "extraordinary demand" in its most important markets.
The company also reported strong operating cash flow of $252.5 million in the quarter, compared to $189.9 million in the same period last year.
"Our strong earnings, backlog surge, and strong pipelines clearly demonstrate continued strength in our execution, customer relationships, and prospects," Lane added. "Overall, we remain optimistic that we will achieve continued success into 2026."
For the first half of 2025, Comfort Systems reported net income of $400.1 million, or $11.28 per diluted share, a 75% increase compared to $230.3 million, or $6.43 per share, in the first half of 2024.
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