Comfort Systems Revenue Rises 53.7% to $3.77 Billion in Third Quarter
Key Facts
Comfort Systems reported third-quarter results on October 22 for the period ended September 30, 2026, posting revenue of $3.77 billion, up 53.7% from $2.45 billion in the same period last year. The company said net income reached $489 million, or $13.91 per diluted share, compared with $291.6 million and $8.25 per share a year earlier. Results showed operating cash flow rising to $1.01 billion from $553.3 million in the third quarter of 2025. The chief executive said revenue rose 50% and earnings per share 70% year over year. The figures reflect simultaneous growth in revenue, earnings and operating cash flow during the quarter.
In its quarterly report, the company said higher revenue during the first nine months was linked to increased activity at existing locations. It said demand was particularly strong in the technology sector, especially data centers. The company’s account of the growth places the sector among the main sources of activity it identified. Increased activity at existing locations also supports a reading of the results as expansion in existing operations, rather than attributing the increase solely to expansions. The results statement available did not provide a growth figure for the electrical segment, so this report does not include a quantitative estimate of its performance.
Earnings growth extended to the year-to-date period: net income for the nine months ended September 30, 2026, was about $1.30 billion, or $36.94 per diluted share. In the corresponding period of 2025, net income was $691.8 million and diluted earnings per share were $19.52. The comparison shows an increase in cumulative earnings per share and total net income over the nine months. In addition, operating cash flow in the quarter alone reached $1.01 billion, compared with $553.3 million a year earlier. This cash flow provides another indication of the company’s ability to generate cash alongside growth in reported earnings.
The chief executive attributed the performance to sustained demand and the efficiency of the teams, saying they contributed to exceptional results across business metrics. He said revenue increased 50% and earnings per share 70% compared with the same quarter of the previous year; these were approximate figures in his comments on the results. The company’s detailed figures, meanwhile, show revenue growth of 53.7% and net income rising from $291.6 million to $489 million. The chief executive also linked growth in the backlog to strong demand, the company’s reputation and its efficiency. He said the company believes it is positioned to continue organic growth and maintain high levels of profitability and solid cash flow through year-end and into 2027.
The company declared a quarterly cash dividend of $1 per share, an increase of $0.10 from the previous payout. The dividend is payable on November 23, 2026, to shareholders of record on November 12. In a separate management change, Chief Financial Officer William George informed the company of his intention to retire after the filing of the 2026 annual report. Julie Sheff will take over the role when the transition takes effect, which is scheduled after the filing of the annual report for the fiscal year ended December 31, 2026. The move ties the finance leadership transition to the timing of the annual report filing.
In the market, the company’s shares, ticker FIX, closed at $1160.86 on October 23, 2026. The close came after the results were announced on October 22, while the company reported quarterly increases in revenue, net income and operating cash flow compared with the same period a year earlier. The picture combines strong operating results, a higher cash dividend and an upcoming change in the CFO role. Management said it expects to continue organic growth, high profitability and solid cash flow through year-end 2026 and into 2027. That is the forward outlook the company set out in its comments on the results.