Filing Flows › Comfort Systems USA (FIX) › Q1 2025
Comfort Systems USA (FIX) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 24, 2025
Comfort Systems USA (FIX) reported revenue of $1.8B for the first quarter 2025 (Q1 2025), +19% from a year earlier and -2% from the quarter before. Operating margin was 11.4%, net earnings $169M (9.2% of revenue).
Comfort Systems USA, Q1 2025: revenue $1.8B (+19% year over year), operating margin 11.4%, net earnings $169M, operating cash flow −$88.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8B | -2% | +19% |
| Gross profit | $403M | -7% | +36% |
| Operating profit | $209M | -8% | +54% |
| Net earnings | $169M | +16% | +76% |
| Operating cash flow | −$88.0M | — | — |
What changed
Revenue was $1.8B in Q1 2025, up 19% year over year and down 2% from the previous quarter. New Construction was the largest line at 58% of revenue. New Construction added $0.17B year over year (up 18%), 56% of the total change.
Gross margin was 22.0%, up 2.7 points from a year earlier. Operating profit was $0.21B, a 11.4% margin (up 2.6 points year over year). Of the extra revenue versus a year earlier, 25% reached operating profit, above the 9% margin then. Operating expenses grew 20% against revenue growth of 19%. Net earnings were $0.17B, up 76% year over year. The effective tax rate was 18.6%.
Operating cash flow was −$0.09B. Non-cash charges added back $0.03B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.30B. Capital expenditures of $0.02B exceeded it, leaving free cash flow of −$0.11B.
Questions
What was Comfort Systems USA's revenue in the first quarter 2025?
Comfort Systems USA (FIX) reported revenue of $1.8B for the first quarter 2025 (Q1 2025), +19% from a year earlier and -2% from the quarter before.
Was Comfort Systems USA profitable in the first quarter 2025?
Operating profit was $209M (11.4% of revenue) and net earnings $169M.