Comfort Systems USA reports Q3 EPS $8.25, consensus $6.29

Reports Q3 revenue $2.45B, consensus $2.16B. Backlog as of September 30, 2025 was $9.38 billion as compared to $8.12 billion as of June 30, 2025 and $5.68 billion as of September 30, 2024. On a same-store basis, backlog increased from $5.68 billion as of September 30, 2024 to $9.20 billion as of September 30, 2025. On October 1, 2025, the Company also closed and funded the acquisitions of two electrical companies based in Western Michigan and Southern Florida that together are expected to provide over $200 million of incremental annual revenue and $15 to $20 million of incremental annual EBITDA. Brian Lane, Comfort Systems USA’s (FIX) CEO, said, “Our teams across the country continue to set a new standard, delivering excellent results for our customers, and again achieving record financial results. Great ongoing execution and favorable developments in certain late-stage projects delivered third quarter EPS that doubles our same quarter last year. In addition to increased revenue and earnings, we are also reporting remarkable quarterly cash flow of over $550 million.”