Comfort Systems USA (FIX) stock is down today even though the mechanical and electrical contractor beat earnings forecasts and nearly doubled its backlog from a year ago. The report came with news that longtime CFO Bill George will retire and no earnings guidance, and investors sold.
As of 10:06 AM ET, Comfort Systems was down 12.2% at $1,123.28, while the S&P 500 was down 0.5%.
Third-quarter revenue rose to $3.77 billion from $2.45 billion a year earlier
Earnings of $13.91 a share topped the $12.85 analysts expected
Backlog reached $17.81 billion, up from $9.38 billion a year earlier
The quarterly dividend rises 10 cents to $1.00 a share
George will retire after the company files its 2026 annual report, ending a 30-year run, and chief accounting officer Julie Shaeff will take over as CFO.
The company expects demand to remain at high levels, especially for manufacturing and technology customers, and Big Tech is still spending, with Meta's capital spending now topping its operating cash flow.
The stock now sits 46% below its 52-week high of $2,073.99. More earnings coverage is on our stocks page.
A blowout quarter wasn't enough this time, and the company gave no earnings number for 2027.
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