Filing Flows › Comfort Systems USA (FIX) › Q1 2026
Comfort Systems USA (FIX) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 23, 2026
Comfort Systems USA (FIX) reported revenue of $2.9B for the first quarter 2026 (Q1 2026), +56% from a year earlier. Operating margin was 17.0%, net earnings $370M (12.9% of revenue).
Comfort Systems USA, Q1 2026: revenue $2.9B (+56% year over year), operating margin 17.0%, net earnings $370M, operating cash flow $389M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | — | +56% |
| Gross profit | $754M | — | +87% |
| Operating profit | $486M | — | +132% |
| Net earnings | $370M | — | +119% |
| Operating cash flow | $389M | — | — |
| Free cash flow | $242M | — | — |
What changed
Revenue was $2.9B in Q1 2026, up 56% year over year. New Construction was the largest line at 74% of revenue. New Construction added $1.1B year over year (up 100%), 103% of the total change. Existing Building Construction declined 11%.
Gross margin was 26.3%, up 4.3 points from Q1 2025. Operating profit was $0.49B, a 17.0% margin (up 5.5 points year over year). Of the extra revenue versus Q1 2025, 27% reached operating profit, above the 11% margin then. Operating expenses grew 38% against revenue growth of 56%. Net earnings were $0.37B, up 119% year over year. The effective tax rate was 23.2%.
Operating cash flow was $0.39B, 105% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.04B. After purchases of property and equipment, net ($0.15B), free cash flow as the company reports it was $0.24B.
Questions
What was Comfort Systems USA's revenue in the first quarter 2026?
Comfort Systems USA (FIX) reported revenue of $2.9B for the first quarter 2026 (Q1 2026), +56% from a year earlier.
Was Comfort Systems USA profitable in the first quarter 2026?
Operating profit was $486M (17.0% of revenue) and net earnings $370M.