$FIX · COMFORT SYSTEMS USA INC
Comfort Systems USA filed an 8-K with an investor presentation dated October 28, 2026. The presentation discloses YTD 2026 revenue of $9.90 billion, net income of $1.30 billion, and diluted EPS of $36.94. Backlog reached $17.82 billion at Q3 2026, with technology representing 59% of revenue and modular construction at 17%.
- YTD 2026 revenue reached $9.90 billion, up 53% from $6.46 billion in the same period of 2025.
- YTD 2026 net income hit $1.30 billion vs. $691.8 million, with diluted EPS of $36.94 vs. $19.52.
- Backlog surged to $17.82 billion at Q3 2026, up from $11.95 billion at year-end 2025.
- Technology sector represents 59% of YTD 2026 revenue; modular construction accounts for 17%.
- Cash position stands at $2.16 billion with only $49.6 million in total debt, yielding a 0.02x Debt/TTM EBITDA ratio.
FIX closed at $1,345.77 (+4.44%) and extended-hours trading shows $1,346.94 (+0.09% vs close), suggesting the presentation's strong metrics were largely priced in during the regular session.
The $17.82B backlog and 53% revenue growth confirm Comfort Systems is one of the primary beneficiaries of the data center and advanced manufacturing capex supercycle.
Comfort Systems' $17.8B backlog and 53% revenue growth underscore the MEP sector's leverage to data center and chip manufacturing buildouts, with modular off-site construction emerging as a structural differentiator.
The presentation flags risks including incorrect fixed-price contract estimates, labor shortages, supply chain disruptions, customer concentration in technology (59% of revenue), and potential backlog cancellations that could prevent backlog from converting to actual revenue.