> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Comfort Systems Revenue Jumps 53.7% To $3.77 Billion, Yet Gross Margin Holds At 24.8% - URL: https://www.bullished.co/comfort-systems-revenue-jumps-53-7-to-3-77-billion-yet-gross-margin-holds-at-24-8-4479a735/ - Published: 2026-10-22T21:07:17.000Z - Updated: 2026-10-22T21:07:17.000Z - Description: The HVAC and electrical contractor's margin was flat from a year ago while estimate revisions added more to revenue and buybacks surged. - Author: Matteo Parrino - Tags: SEC Filings, FIX, Industry: Industrials [Comfort Systems USA](https://www.bullished.co/tag/fix/), which installs and maintains heating, cooling, plumbing and electrical systems in commercial and industrial buildings, grew third-quarter revenue 53.7% to [$3.77 billion](https://www.sec.gov/Archives/edgar/data/0001035983/000110465926118159/fix-20260930x10q.htm?ref=bullished.co), according to its 10-Q. Gross margin stayed at 24.8%, the same as a year earlier, and a larger slice of revenue came from revisions to estimates on work begun in earlier periods. ## Flat margin on a much bigger base Gross profit rose to $934.5 million in the third quarter, up 53.7% in step with revenue, so the percentage did not move. Management credited a 46.3% rise in same-store revenue and better execution at numerous locations. A $15.5 million bankruptcy-related revenue recognition in 2025 did not repeat. For the first nine months, gross margin rose to 25.6% from 23.6%. The company points to favorable developments on projects nearing completion in the first quarter, including change orders of about $43.1 million, and to better results in its mechanical segment. Net income climbed to $489.0 million, or $13.91 per diluted share, from $291.6 million, or $8.25, in the [earnings release](https://www.sec.gov/Archives/edgar/data/0001035983/000110465926118156/fix-ex99d1.htm?ref=bullished.co). Selling and administrative costs fell to 8.3% of revenue from 9.4%. ## Estimate revisions add more to revenue Comfort Systems books revenue as work progresses, so changes in estimates on jobs already underway flow straight into current results. Those revisions added 4.5% to third-quarter revenue, against 4.0% a year earlier. Over nine months they added 6.6%, against 4.6%. Billed receivables reached $3.84 billion at September 30, from $2.58 billion at year-end. The [prior quarter's filing](https://www.sec.gov/Archives/edgar/data/0001035983/000110465926086258/fix-20260630x10q.htm?ref=bullished.co) showed $3.28 billion at June 30. Technology customers, mainly data centers, were 60.8% of third-quarter revenue, against 45.8% a year ago. Backlog reached $17.81 billion, up 26.7% from June 30 and 90.0% from a year earlier. The company says backlog speaks only to revenue direction over the next six to 12 months. ## Buybacks surge, CFO to retire Share repurchases totaled $340.9 million in the third quarter, up from $5.7 million in the second. For the nine months the company bought 0.2 million shares at an average $1,643.85\. The stock closed at $1,279.37 on Thursday, for a market value of $49.3 billion. Cash from operations was $2.54 billion for nine months, against $717.8 million a year earlier. The company had no borrowings on its revolver and $1.01 billion of credit available. Separately, an [8-K](https://www.sec.gov/Archives/edgar/data/0001035983/000110465926118149/tm2628079d1%5F8k.htm?ref=bullished.co) says CFO William George will retire after the 2026 annual report is filed. Chief Accounting Officer Julie Shaeff will succeed him. The company hosts its conference call Friday at 10:00 a.m. Central Time, and Shaeff becomes CFO once the 2026 annual report is filed. ### Sources - [10-Q Filing — Comfort Systems USA (FIX)](https://www.sec.gov/Archives/edgar/data/0001035983/000110465926118159/fix-20260930x10q.htm?ref=bullished.co) — SEC EDGAR - [10-Q Filing — Comfort Systems USA (FIX), Q2 FY2026 filed 2026-07-23 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001035983/000110465926086258/fix-20260630x10q.htm?ref=bullished.co) — SEC EDGAR - [8-K Filing — Comfort Systems USA, filed 2026-10-22 (Items 5.02, 7.01, 9.01)](https://www.sec.gov/Archives/edgar/data/0001035983/000110465926118149/tm2628079d1%5F8k.htm?ref=bullished.co) — SEC EDGAR - [8-K Filing — Comfort Systems USA, filed 2026-10-22 (Items 2.02, 8.01, 9.01)](https://www.sec.gov/Archives/edgar/data/0001035983/000110465926118156/fix-20261022x8k.htm?ref=bullished.co) — SEC EDGAR - [Earnings release (8-K Item 2.02, fix-ex99d1.htm) — Comfort Systems USA, filed 2026-10-22](https://www.sec.gov/Archives/edgar/data/0001035983/000110465926118156/fix-ex99d1.htm?ref=bullished.co) — SEC EDGAR - [Can Comfort Systems' Cash Flow Strength Support Its Investment Plans?](https://finance.yahoo.com/markets/stocks/articles/comfort-systems-cash-flow-strength-123000259.html?ref=bullished.co) — Yahoo Finance - [Comfort Systems (NYSE:FIX) reports upbeat Q3 2026 but stock drops](https://finance.yahoo.com/markets/stocks/articles/comfort-systems-nyse-fix-reports-202110728.html?ref=bullished.co) — Yahoo Finance - [Brown Advisory Maintains Interest in Comfort Systems USA, Inc. (FIX)](https://finance.yahoo.com/markets/stocks/articles/brown-advisory-maintains-interest-comfort-131644477.html?ref=bullished.co) — Yahoo Finance - [Comfort Systems GAAP EPS of $13.91 beats by $1.20, revenue of $3.77B beats by $370M (NYSE:FIX) | Seeking Alpha](https://seekingalpha.com/news/4656227-comfort-systems-gaap-eps-of-13%5F91-beats-by-1%5F20-revenue-of-3%5F77b-beats-by-370m?ref=bullished.co) — seekingalpha.com - [Top 3 Industrials Stocks That Could Lead To Your Biggest Gains In Q4](https://www.benzinga.com/trading-ideas/long-ideas/26/10/62518791/top-3-industrials-stocks-that-could-lead-to-your-biggest-gains-in-q4?ref=bullished.co) — benzinga.com ### More on Comfort Systems USA - [Comfort Systems CFO Bill George To Retire After 10-K; Accounting Chief Julie Shaeff Moves Up](https://www.bullished.co/comfort-systems-cfo-bill-george-to-retire-after-10-k-accounting-chief-julie-shaeff-moves-795ba77f/) - [Comfort Systems Posts $489 Million Quarterly Profit As Backlog Reaches $17.81 Billion](https://www.bullished.co/comfort-systems-posts-489-million-quarterly-profit-as-backlog-reaches-17-81-billion-a95ba1b3/) [All Comfort Systems USA (FIX) coverage →](https://www.bullished.co/tag/fix/)