Filing Flows › Comfort Systems USA (FIX) › Q2 2025
Comfort Systems USA (FIX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 24, 2025
Comfort Systems USA (FIX) reported revenue of $2.2B for the second quarter 2025 (Q2 2025), +20% from a year earlier and +19% from the quarter before. Operating margin was 13.8%, net earnings $231M (10.6% of revenue).
Comfort Systems USA, Q2 2025: revenue $2.2B (+20% year over year), operating margin 13.8%, net earnings $231M, operating cash flow $252M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2B | +19% | +20% |
| Gross profit | $510M | +26% | +40% |
| Operating profit | $300M | +43% | +62% |
| Net earnings | $231M | +36% | +72% |
| Operating cash flow | $252M | — | +33% |
| Free cash flow | $222M | — | +33% |
What changed
Revenue was $2.2B in Q2 2025, up 20% year over year and up 19% from the previous quarter. New Construction was the largest line at 58% of revenue. New Construction added $0.17B year over year (up 16%), 48% of the total change.
Gross margin was 23.5%, up 3.4 points from a year earlier. Operating profit was $0.30B, a 13.8% margin (up 3.6 points year over year). Of the extra revenue versus a year earlier, 32% reached operating profit, above the 10% margin then. Operating expenses grew 17% against revenue growth of 20%. Net earnings were $0.23B, up 72% year over year. The effective tax rate was 22.1%.
Operating cash flow was $0.25B (up 33% year over year), 109% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items used $0.02B. After purchases of property and equipment, net ($0.03B), free cash flow as the company reports it was $0.22B.
Questions
What was Comfort Systems USA's revenue in the second quarter 2025?
Comfort Systems USA (FIX) reported revenue of $2.2B for the second quarter 2025 (Q2 2025), +20% from a year earlier and +19% from the quarter before.
Was Comfort Systems USA profitable in the second quarter 2025?
Operating profit was $300M (13.8% of revenue) and net earnings $231M.