Q2 26 EPS
$12.53
BEAT +19.85%
Est. $10.46
Q2 26 Revenue
$3.27B
BEAT +9.25%
Est. $2.99B
vs S&P Since Q2 26
-9.6%
TRAILING MARKET
FIX -4.9% vs S&P +4.6%
Market Reaction
Did FIX Beat Earnings? Q2 2026 Results
Comfort Systems USA delivered a standout second quarter for fiscal 2026, posting earnings per share of $12.53 against a Wall Street consensus of $10.46, a beat of nearly 20% that extended the company's winning streak to five consecutive quarters of t… Read more Comfort Systems USA delivered a standout second quarter for fiscal 2026, posting earnings per share of $12.53 against a Wall Street consensus of $10.46, a beat of nearly 20% that extended the company's winning streak to five consecutive quarters of topping EPS estimates. Revenue of $3.27 billion climbed 50.3% year over year and cleared analyst forecasts by 9.25%, as surging demand across commercial, industrial, and institutional HVAC and electrical contracting markets drove the top line well ahead of expectations. The single most striking figure in the quarter was operating cash flow of $1.14 billion, compared to $252.50 million in the same period a year ago, reflecting both sharply expanded margins, with gross margin widening to 25.9% from 23.5%, and disciplined cost control that trimmed SG&A as a percentage of revenue to 8.8% from 9.7%. Backlog of $14.06 billion as of June 30, growing organically on a same-store basis from $8.12 billion a year ago to $13.70 billion, provides strong revenue visibility, and CEO Brian Lane expressed confidence in results for the remainder of 2026 and well into 2027.
Key Takeaways
- • 50% year-over-year revenue growth
- • 92% increase in per share earnings year over year
- • Gross margin expansion to 25.9% from 23.5%
- • Operating margin improvement to 17.1% from 13.8%
- • SG&A leverage with costs declining to 8.8% of revenue from 9.7%
- • Strong ongoing demand across commercial, industrial, and institutional markets
- • Operating cash flow exceeding $1 billion in a single quarter
FIX Forward Guidance & Outlook
CEO Brian Lane expressed optimism about the company's outlook, citing strong pipelines and an excellent workforce as reasons for confidence in results for the remainder of 2026 and well into 2027. Backlog of $14.06 billion as of June 30, 2026 — up from $12.45 billion at March 31, 2026 and $8.12 billion a year ago — provides significant revenue visibility. Same-store backlog growth from $8.12 billion to $13.70 billion year over year indicates strong organic demand trends.
FIX YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
“Our people continued their unmatched execution in markets across the country, achieving great outcomes for our customers and communities every day. Their continued excellence produced record results in virtually every aspect of our overall business. As compared to the same quarter last year, Comfort Systems USA is reporting a 50% increase in revenue, a 92% increase in per share earnings, and remarkable and completely unprecedented quarterly cash flow of more than $1 billion.”
— Brian Lane, Q2 2026 Earnings Press Release
FIX Earnings Trends
FIX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FIX EPS Trend
Earnings per share: estimate vs actual
FIX Revenue Trend
Quarterly revenue: estimate vs actual
FIX Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $10.46 | $12.53 | +19.85% | $3.27B | +9.25% |
| Q1 26 BEAT | $6.81 | $10.51 | +54.44% | $2.87B | +19.74% |
| Q4 25 BEAT FY | $6.75 | $9.37 | +38.71% | $2.65B | +13.22% |
| FY Full Year | $26.27 | $28.88 | +9.95% | $9.10B | +3.52% |
| Q3 25 BEAT | $6.29 | $8.25 | +31.26% | $2.45B | +13.58% |
| Q2 25 BEAT | $4.84 | $6.53 | +35.05% | $2.17B | +10.31% |
| Q1 25 BEAT | $3.71 | $4.75 | +28.12% | $1.83B | +3.69% |