Q1 26 EPS
$10.51
Q1 26 Revenue
$2.87B
BEAT +19.74%
Est. $2.39B
vs S&P Since Q1 26
+7.0%
BEATING MARKET
FIX +7.9% vs S&P +0.9%
Market Reaction
Did FIX Beat Earnings? Q1 2026 Results
Comfort Systems USA (NYSE: FIX) delivered a blowout first quarter for fiscal 2026, posting diluted EPS of $10.51 and beating the $6.81 Wall Street consensus by 54.44%, extending the company's streak of consensus EPS beats to four consecutive quarters… Read more Comfort Systems USA (NYSE: FIX) delivered a blowout first quarter for fiscal 2026, posting diluted EPS of $10.51 and beating the $6.81 Wall Street consensus by 54.44%, extending the company's streak of consensus EPS beats to four consecutive quarters. Revenue climbed 56.5% year-over-year to $2.87 billion, beating estimates of $2.39 billion by 19.74%, with 51% organic growth doing much of the heavy lifting alongside acquisition contributions. The standout driver was a dramatic margin expansion, as operating income surged to $485.72 million from $209.10 million a year ago, pushing operating margin to 17.0% from 11.4%, reflecting strong execution and a project mix increasingly tilted toward large-scale technology and data center work. Backlog reached $12.45 billion at quarter-end, nearly double the $6.89 billion reported a year earlier, and management pointed to persistent demand, robust recent bookings, and strong pipelines as reasons for optimism heading into the next several quarters.
Key Takeaways
- • Organic revenue growth of 51% year-over-year
- • Gross margin expansion to 26.3% from 22.0%
- • Operating leverage with SG&A declining as a percentage of revenue
- • Strong execution across 197 locations in 143 cities
- • Backlog growth to $12.45 billion, with same-store backlog nearly doubling year-over-year
- • Significant improvement in operating cash flow to $388.8 million from negative $88.0 million
FIX YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“Our growing teams continue to achieve masterful performance across the United States, and their excellence and dedication is delivering unmatched outcomes for our customers and communities. Thanks to these teams, Comfort Systems USA is achieving unprecedented results for our shareholders, including organic revenue growth this quarter of 51% compared to the same quarter of last year, and per share earnings that have more than doubled over the same period. In addition to our record growth and profitability, we achieved more than $375 million of quarterly cash flow.”
— Brian Lane, Q1 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 | — | — | — | — | — |
| 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% |