Comfort Systems USA(US:FIX) ZACKS·2025-10-15 16:01Core Insights - Comfort Systems USA, Inc. is experiencing strong business momentum with healthy demand across its core markets, driven by rising activity in technology and industrial projects, particularly in data centers, manufacturing facilities, and healthcare infrastructure [1][3] Backlog and Revenue Performance - The company's backlog reached a record $8.1 billion at the end of Q2 2025, representing a 41% increase from the previous year, with $2.2 billion of this growth attributed to same-store operations [2][8] - Same-store backlog increased by 37% year over year, indicating steady project flow and improved execution [2] - Revenues grew by 20% year over year to $2.2 billion, supported by effective execution and backlog conversion, with same-store revenues rising by 19% in the quarter and 17% year to date [2][8] Future Outlook - The company anticipates same-store revenue growth at a mid-teen rate for the full year 2025, benefiting from a diverse project mix and increased participation in healthcare and education markets [3] - With a record backlog and strong visibility through 2026 and beyond, Comfort Systems is well-positioned for multiyear growth across its expanding end markets [3] Stock Performance - Comfort Systems' shares have increased by 56% over the past three months, contrasting with a 5.5% decline in the Zacks Building Products - Air Conditioner and Heating industry [4] - Comparatively, shares of other industry players like Watsco, Inc. and Tecogen Inc. have seen declines of 23.7% and gains of 64.2%, respectively [4] Valuation Metrics - The company trades at a forward 12-month price-to-earnings ratio of 34.68X, higher than the industry's 26.92X [7] Earnings Estimates - Earnings estimates for Comfort Systems for 2025 and 2026 have increased by 0.5% to $22.36 per share and 0.7% to $24.61, indicating year-over-year growth of 53.2% and 10.1%, respectively [10]