Q2 25 EPS
$6.53
BEAT +35.05%
Est. $4.84
Q2 25 Revenue
$2.17B
BEAT +10.31%
Est. $1.97B
vs S&P Since Q2 25
+179.2%
BEATING MARKET
FIX +192.3% vs S&P +13.1%
Market Reaction
Did FIX Beat Earnings? Q2 2025 Results
Comfort Systems USA delivered a blowout second quarter of 2025, posting diluted EPS of $6.53 and beating the consensus estimate of $4.84 by 35.05%, while revenue of $2.17 billion topped expectations by 10.31% and grew 20.1% year over year from $1.81 … Read more Comfort Systems USA delivered a blowout second quarter of 2025, posting diluted EPS of $6.53 and beating the consensus estimate of $4.84 by 35.05%, while revenue of $2.17 billion topped expectations by 10.31% and grew 20.1% year over year from $1.81 billion. The standout driver behind the results was a historic surge in backlog, which crossed the $8 billion threshold for the first time, reaching $8.12 billion at quarter end, a sequential jump of over $1 billion and a $2.40 billion increase from the same point last year, signaling extraordinary demand across the company's commercial, industrial, and institutional contracting markets. Gross margins expanded sharply to 23.5% from 20.1% a year ago, reflecting stronger project execution and pricing discipline, while adjusted EBITDA climbed to $334.08 million with margins widening to 15.4%. Shares responded with a notable premarket surge following the print. CEO Brian Lane struck an optimistic tone, emphasizing the company's record pipeline and robust customer relationships as a foundation for continued success into 2026.
Key Takeaways
- • Record quarterly earnings with EPS more than 70% higher year-over-year
- • Gross margin expansion to 23.5% from 20.1% in Q2 2024
- • Backlog exceeded $8 billion for the first time, up $2.4 billion year-over-year
- • Strong operating cash flow of over $250 million in the quarter
- • Adjusted EBITDA margin expanded to 15.4% from 12.3% year-over-year
- • Same-store backlog grew from $5.77 billion to $7.93 billion year-over-year
FIX YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“Our businesses and their stellar teams continue to demonstrate world class performance, as we achieved earnings that far surpass all prior quarters. Per share earnings in the second quarter of 2025 was $6.53, more than 70% higher than the spectacular results we achieved in the second quarter of 2024. For the first half of 2025, our per share earnings have grown by over 75% as compared to the record results in the same period of 2024. This quarter, we are also happy to report strong operating cash flow of over $250 million.”
— Brian Lane, Q2 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% |