Will Comfort Systems' 47% Same-Store Growth Stay on Track in 2027?

Comfort Systems USA, Inc. FIX appears poised to carry strong momentum into 2027, supported by robust demand, record backlog and expanding capacity. The company’s second-quarter 2026 performance highlighted the strength of its growth engine, with same-store revenues jumping 44% year over year. For the first six months of 2026, same-store revenues increased 47%, prompting management to expect full-year 2026 same-store growth in the mid- to high-30% range.

A key catalyst is Comfort Systems’ record backlog, which reached $14.1 billion at the end of the second quarter of 2026, up 73% year over year, while same-store backlog rose 69%. Technology demand remained particularly strong, accounting for 58% of first-half revenues compared with 40% a year ago. Industrial customers represented 75% of revenues, providing additional support for the project pipeline.

The company is also expanding its Modular operations to capitalize on sustained customer demand. Modular capacity is expected to exceed 4 million square feet by year-end and reach approximately 5 million square feet by late summer 2027. Management noted that expansion is being supported by customer volume commitments, reducing the risk associated with capacity investments. However, maintaining such elevated growth will become more challenging against increasingly difficult comparisons, particularly in the second half of 2026. Management acknowledged that upcoming quarters will face heavy year-over-year comparisons.

Overall, Comfort Systems’ strong backlog, technology exposure, Modular expansion and healthy demand position it well for continued growth. Still, the pace may moderate as comparisons toughen.

Comfort Systems, Carrier Global & AAON: Cooling Into a New Era?

Comfort Systems stands out among Carrier Global Corporation CARR and AAON, Inc. AAON for its direct exposure to large-scale infrastructure projects, supported by a record $14.1 billion backlog, up 73% year over year.

AAON is also benefiting from surging data-center demand, with the second-quarter backlog near $2 billion and BASX backlog up 185% year over year, driven by custom-engineered cooling solutions. Carrier Global offers a broader HVAC portfolio and benefits from commercial HVAC, energy-efficiency and aftermarket opportunities.

FIX’s project execution and modular capabilities provide greater exposure to the infrastructure boom, while AAON leverages specialized cooling technology and Carrier Global gains from diversification and recurring service demand.

FIX Stock’s Price Performance & Valuation Trend

Shares of this Texas-based heating, ventilation, air conditioning and electrical contracting service provider have climbed 20% over the past six months, outperforming the Zacks Building Products - Air Conditioner and Heating industry, the Zacks Construction sector and the S&P 500 Index.

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FIX stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 31.73, as the trend lines suggest below.

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Earnings Estimate Trend of FIX

FIX’s earnings estimates for 2026 and 2027 have increased over the past 30 days to $45.86 and $57.81 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year growth of 58.8% and 26.1%, respectively.

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Comfort Systems currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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