FIX Comfort Systems USA (FIX) Q4 FY25 earnings call
Comfort Systems USA delivered an unprecedented Q4 FY25, marked by record earnings, gross margins, and backlog, primarily fueled by robust demand in the technology sector, particularly data centers. The company is strategically expanding its modular capacity and investing in its workforce to capitalize on strong project pipelines and extended backlog duration, while maintaining disciplined project selection. Management expects continued strong performance in 2026, albeit with tougher comparables in the second half.
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FIX operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | This call Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Backlog | $6BBacklog at the end of the year grew to a new all-time high of $6 billion.Source: earnings call transcript | $6.9BBacklog at the end of the first quarter was a record $6.9 billion, a same-store increase in both sequential and year-over-year backlog.Source: earnings call transcript | $11.9BBacklog at the end of the fourth quarter was $11.9 billion, a same-store increase in both sequential and year-over-year backlog.Source: earnings call transcript | $12.5BWe also ended the quarter with record backlog of $12.5 billion, reflecting persistent demand, including strong demand from our tech customers.Source: earnings call transcript | $14.1BBookings continued to trend upwards, and our backlog increased to a new high of $14.1 billion.Source: earnings call transcript | $17.8BBookings were strong and our backlog at the end of the quarter grew to a new high of $17.8 billion.Source: earnings call transcript | +26.2% |
| Employees | 18K+I want to close by thanking our over 18,000 employees for their hard work and dedication.Source: earnings call transcript | 19K+Before I turn the call over for questions, I want to join Brian and Bill in thanking our over 19,000 employees for their hard work and dedication.Source: earnings call transcript | 22K+I want to take this opportunity to close by thanking our over 22,000 employees for their hard work and dedication.Source: earnings call transcript | 23K+Before we turn the call over for questions, I want to join Brian and Bill and the team here in Houston in thanking our over 23,000 employees for their hard work and dedication.Source: earnings call transcript | 25K+I want to close by joining Brian and Bill and thanking our over 25,000 employees for their hard work and dedication.Source: earnings call transcript | 25K+I want to close by joining Brian and Bill in thanking our over 25,000 employees for their hard work and dedication, and I will now turn it back over to Michelle for questions.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.