Comfort Systems Usa, Inc. · NYSE:FIX
Comfort Systems Usa — Q1 2026 Earnings Presentation
11 slides from Comfort Systems Usa's earnings presentation, Apr 24, 2026
Slide 1: Quality People. Building Solutions. Q1 2026 Earnings Call
QUALITY PEOPLE. BUILDING SOLUTIONS. Q1 2026 Earnings Call NYSE: FIX April 24, 2026
Slide 2: Safe Harbor
SAFE HARBOR Certain statements and information in this press release may constitute forward-looking statements regarding our future business expectations, which are subject to applicable securities laws and regulations. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “shoul
Slide 3: Q1 2026 Financial Results Highlights
Q1 2026 FINANCIAL RESULTS HIGHLIGHTS Q1 2026 Revenue was $2.87 billion compared to $1.83 billion in Q1 2025 Gross Profit percentage increased to 26.3% vs. 22.0% in Q1 2025 SG&A increased to $269.0 million from $194.9 million in Q1 2025 EPS was $10.51 per diluted share compared to $4.75 in Q1 2025 Q1
Slide 4: Key Financial Data – Income Statement - QTD
KEY FINANCIAL DATA – INCOME STATEMENT - QTD ($ Thousands, Except Per Share Data) (Unaudited) For the Three Months Ended March 31, Variance 2026 2025 $ % Revenue $ 2,865,332 100.0% $ 1,831,286 100.0% $ 1,034,046 56.5% Cost of Services 2,110,920 73.7% 1,427,870 78.0% 683,050 47.8% Gross Profit 754,412
Slide 5: Key Financial Data – Balance Sheet
KEY FINANCIAL DATA – BALANCE SHEET ($ Millions) 3/31/2026 12/31/2025 (Unaudited) Cash $ 1,050.2 $ 981.9 Working Capital $ 870.1 $ 716.7 Goodwill $ 1,025.5 $ 1,025.5 Intangible Assets, Net $ 464.8 $ 485.2 Total Debt $ 39.1 $ 145.2 Equity $ 2,815.0 $ 2,448.8 4
Slide 6: Backlog
BACKLOG ($ Millions) (Unaudited) $14,000 $13,000 $12,455 $11,945 $12,000 $11,000 $10,000 $9,000 $8,000 $7,000 $5,994 $6,000 $5,157 $5,000 $4,064 $4,000 $3,000 $2,312 $2,000 $1,602 $1,511 $1,166 $763 $948 $1,000 $- 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1 26 5
Slide 7: Revenue by Type of Customer
REVENUE BY TYPE OF CUSTOMER (YTD) IONAL INSTITUT L MULTI-FAMILY / A RESIDENTIAL CI 1.2% EDUCATION HEALTHCARE OTHER ER 4.5% 7.7% 1.1% GOVERNMENT MM 4.8% OFFICE BUILDINGS CO 2.8% RETAIL / RESTAURANT / ENTERTAINMENT 2.8% MANUFACTURING 18.7% TECHNOLOGY 56.4% 6 INDUSTRIAL
Slide 8: Revenue by Activity Type
REVENUE BY ACTIVITY TYPE YTD 2026 Annual 2025 4.8% 6.2% 5.5% 15.2% 7.3% 23.3% 74.5% 63.2% New Construction Existing Building Construction Service Projects Service Calls, Maintenance & Monitoring 7
Slide 9: Appendix
APPENDIX 8
Slide 10: Appendix I – GAAP Reconciliation to Adjusted EBITDA
APPENDIX I – GAAP RECONCILIATION TO ADJUSTED EBITDA ($ Thousands) (Unaudited) Three Months Ended March 31, 2026 2025 Net Income $ 370,378 $ 169,289 Provision for Income Taxes 111,768 38,723 Other Income, Net (464) (24) Changes in the Fair Value of Contingent Earn-out Obligations 10,370 3,758 Interes
Slide 11: Appendix II – GAAP Reconciliation to Free Cash Flow
APPENDIX II – GAAP RECONCILIATION TO FREE CASH FLOW ($ Thousands) (Unaudited) Three Months Ended March 31, 2026 2025 Cash from Operating Activities $ 388,828 $ (87,950) Purchases of Property and Equipment (147,473) (22,208) Proceeds from Sales of Property and Equipment 874 1,095 Free Cash Flow $ 242