Comfort Systems USA is experiencing strong demand across both its operating segments, with Electrical outpacing Mechanical growth. In Q2 2026, Electrical revenues surged 81.2% year-over-year to $969 million, whilst Mechanical revenues increased 40.2% to $2.30 billion. Data-center activity drove most of the Electrical gains. Of the $434.3 million year-over-year increase, $301.7 million came from same-store operations, with Texas contributing $186.6 million. Acquisitions added $132.6 million. Mechanical remains the larger business at 70.3% of quarterly revenues. Its gross margin improved to 25.6% from 22.9%, outpacing Electrical's margin gain to 26.4% from 25.3%. Both segments showed strong backlogs: Mechanical reached $10.06 billion and Electrical $4 billion, each up roughly 73% year-over-year.

Comfort Systems USA is maintaining strong growth momentum heading into 2027, driven by record backlog and technology sector demand. The company's same-store revenues jumped 47% in the first half of 2026, with management projecting full-year growth in the mid- to high-30% range. The company's backlog reached $14.1 billion in Q2 2026, up 73% year over year. Technology customers accounted for 58% of first-half revenues, compared with 40% the previous year, whilst industrial clients represented 75% of revenues. Comfort Systems is expanding its Modular operations to nearly 5 million square feet by late summer 2027, supported by customer volume commitments. However, management acknowledged that maintaining such growth rates will become more challenging due to tougher year-over-year comparisons in upcoming quarters.

Comfort Systems USA, an engineering and construction contractor specialising in plumbing, HVAC, and electrical work, is benefiting from the AI data centre boom. The company reported quarterly revenue of $3.27 million, up 50% year over year, with nearly 60% of its business coming from the technology sector. The company's backlog grew from $12.45 billion at the end of March to $14.06 billion by the end of June, driven primarily by data centre construction. The stock has surged over 140% in the past year and more than 2,000% over five years. Shares currently trade at roughly 30 times next year's expected earnings of $60.04 per share. Analysts rate the stock a strong buy with a consensus price target of $2,217.63, representing over 27% upside from current levels.