Comfort Systems USA Reports 35% Revenue Growth in Q3 with $9.38 Billion Backlog
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
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Source: NASDAQ.COM
- Record Backlog: Comfort Systems USA's backlog reached $9.38 billion in Q3, reflecting a 62% year-over-year increase, indicating unprecedented demand for its services in the AI sector and solidifying its market leadership.
- Significant Revenue Growth: The company reported a 35% increase in revenue for Q3, which not only highlights the strong demand for HVAC services from AI data centers but also demonstrates its adaptability in a rapidly changing market environment.
- Substantial Profit Increase: Net income nearly doubled, and the rising profit margins indicate robust profitability amid the AI boom, with CEO Brian Lane citing
Analyst Views on FIX
Wall Street analysts forecast FIX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FIX is 1044 USD with a low forecast of 810.00 USD and a high forecast of 1155 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
5 Buy
1 Hold
0 Sell
Strong Buy
Current: 1035.110
Low
810.00
Averages
1044
High
1155
Current: 1035.110
Low
810.00
Averages
1044
High
1155
About FIX
Comfort Systems USA, Inc. is a provider of commercial, industrial and institutional heating, ventilation, air conditioning (HVAC) and electrical contracting services. The Company operates through two segments: Mechanical and Electrical. The Mechanical segment includes HVAC, plumbing, piping, and controls, as well as off-site construction, monitoring and fire protection. It also installs connecting and distribution elements, such as piping and ducting. The Electrical segment includes installation and servicing of electrical systems. It builds, installs, maintains, repairs and replaces mechanical, electrical and plumbing (MEP) systems throughout its 47 operating units with 178 locations in 136 cities across the nation. It is engaged in offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power and industrial sectors. It also provides mechanical construction services to the commercial and industrial sectors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
