Comfort Systems USA, Inc. Q1 2026 Earnings Call Transcript

Comfort Systems USA, Inc. (NYSE: FIX) Q1 2026 Earnings Call dated Apr. 24, 2026

Presentation

Operator

Thank you for standing-by, and welcome to Comfort Systems USA’s First Quarter 2026 Earnings Conference Call. Currently, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Julie Shaeff, Chief Accounting Officer. Please go-ahead.

Julie Shaeff — Senior Vice President & Chief Accounting Officer

Thanks, Latif. Good morning. Welcome to Comfort Systems USA’s first-quarter 2026 earnings call. Our comments today as well as our press releases contain forward-looking statements within the meaning of the applicable securities laws and regulations. What we will say today is based upon the current plans and expectations of Comfort Systems USA. Those plans and expectations include risks and uncertainties that might cause actual future activities and results of our operations to be materially different from those in our comments. You can read a detailed listing and commentary concerning our specific risk factors in our most recent Form 10-K and Form 10-Q as well as in our press release covering these earnings.

A slide presentation is provided as a companion to our remarks and is posted on the Investor Relations section of the company’s website found at comfortsystemsusa.com. Joining me on the call today are Brian Lane, Chief Executive Officer; Trent McKenna, President and Chief Operating Officer; and Bill George, Chief Financial Officer. Brian will open our remarks.

Brian E. Lane — Chief Executive Officer

All right. Thanks, Julie. Good morning, and thank you for joining our call today. We had a fantastic quarter and a strong start to 2026, driven by continued outstanding performance by our field teams. Our same-store revenue grew by 51% and quarterly gross margins at a new all-time high. We earned $10.51 per share this quarter, more than double our strong first-quarter in 2025. We also ended the quarter with record backlog of $12.5 billion, reflecting persistent demand, including strong demand from our tech customers. And we entered the second-quarter of 2026 with total backlog that is $5 billion higher than it was one year-ago.

We also announced another increase to our quarterly dividend to $0.80 by adding $0.10