Q1 25 EPS
$4.75
BEAT +28.12%
Est. $3.71
Q1 25 Revenue
$1.83B
BEAT +3.69%
Est. $1.77B
vs S&P Since Q1 25
+324.1%
BEATING MARKET
FIX +355.0% vs S&P +30.9%
Market Reaction
Did FIX Beat Earnings? Q1 2025 Results
Comfort Systems USA opened 2025 with a standout quarter, reporting diluted EPS of $4.75 against a consensus estimate of $3.71, a beat of 28.12% that underscored the company's momentum even in its historically softest seasonal period. Revenue climbed … Read more Comfort Systems USA opened 2025 with a standout quarter, reporting diluted EPS of $4.75 against a consensus estimate of $3.71, a beat of 28.12% that underscored the company's momentum even in its historically softest seasonal period. Revenue climbed 19.1% year-over-year to $1.83 billion, edging past the $1.77 billion Wall Street had anticipated by 3.69%, as sustained demand across commercial, industrial, and institutional HVAC and electrical contracting continued to drive top-line growth. The most compelling driver behind the profit expansion was a sharp improvement in gross margins, which widened to 22.0% from 19.3% a year ago, lifting operating income to $209.10 million and pushing the operating margin to 11.4%. Backlog swelled to $6.89 billion as of March 31, up from $5.99 billion at year-end, with same-store backlog rising roughly $800 million sequentially, giving management confidence to express optimism not only for strong 2025 earnings and cash generation, but for continuing success well into 2026.
Key Takeaways
- • Gross margin expansion to 22.0% from 19.3% year-over-year
- • Operating margin improvement to 11.4% from 8.8%
- • Strong execution by teams across the United States
- • Backlog growth to $6.89 billion, with over $800 million in sequential same-store growth
- • Tax benefit of $0.25 per diluted share from interest income on prior year tax refund
FIX YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
“Our amazing teams across the United States continue to achieve world class performance. We are reporting earnings per share that exceed every past quarter, a remarkable accomplishment given that the first quarter is historically our seasonally weakest period. These results reflect a promising start to 2025. Per share earnings in the first quarter of 2025 was $4.75, more than 75% higher than the spectacular results we achieved in the first quarter of 2024. During the first quarter, we also made substantial payments to a key customer resulting in a long-expected normalization of our working capital.”
— Brian Lane, Q1 2025 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 | — | — | — | — | — |
| Q1 26 | — | $10.51 | — | $2.87B | +19.74% |
| Q4 25 BEAT FY | $6.73 | $9.37 | +39.23% | $2.65B | +13.23% |
| 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% |