Comfort Systems Usa, Inc. · NYSE:FIX
Comfort Systems Usa — Investor Presentation (October 2026)
21 slides from Comfort Systems Usa's investor presentation, Oct 28, 2026
Slide 1: Quality People. Building Solutions.
QUALITY PEOPLE. BUILDING SOLUTIONS. NYSE: FIX October 28, 2026
Slide 2: Safe Harbor
SAFE HARBOR Certain statements and information in this presentation may constitute forward - looking statements regarding our future business expectations, which are subject to applicable securities laws and regulations. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “forese e,” “sho
Slide 3: Comfort Systems USA at a glance
• Leading national mechanical, electrical, and plumbing (“MEP”) installation and service provider • $12.0+ billion yearly revenue • 76% industrial • 26,000+ employees • History of profitable growth and cash flow • Unmatched modular capabilities • Financial stability with a strong balance sheet COMFO
Slide 4: National Footprint
211 LOCATIONS | 155 CITIES | 26 ,000+ EMPLOYEES NATIONAL FOOTPRINT 3 Mechanical Electrical
Slide 5: Market Outlook
MARKET OUTLOOK STRONG MARKETS • Technology – Data Centers and Chip Manufacturing • Life Sciences – Pharmaceuticals • Food Processing • Manufacturing • Healthcare • Energy Storage TRENDS • Technology • On - Shoring • Modular • Service 4
Slide 6: Revenue and Gross Profit, Segment Breakdown YTD 2026
REVENUE GROSS PROFIT YTD 2026 Gross Profit = $2.53 billion YTD 2026 Revenue = $9.90 billion SEGMENT BREAKDOWN – YTD 2026 MECHANICAL 70% ELECTRICAL 30% MECHANICAL 71% ELECTRICAL 29% 5
Slide 7: Market Sector Activity
MARKET SECTOR ACTIVITY REVENUE BREAKDOWN – YTD 2026 TECHNOLOGY 59% MANUFACTURING 17% GOVERNMENT 4% EDUCATION 5% HEALTHCARE 7% RETAIL 3% OTHER 2% OFFICE 3% NEW CONSTRUCTION 58% EXISTING CONSTRUCTION 15% MODULAR 17% SERVICE PROJECTS 5% SERVICE AND MAINTENANCE 5% 6
Slide 8: Backlog
BACKLOG $763 $948 $1,166 $1,602 $1,511 $2,312 $4,064 $5,157 $5,994 $11,945 $17,815 $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 $13,000 $14,000 $15,000 $16,000 $17,000 $18,000 $19,000 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 2026 ($ in million
Slide 9: Service Maintenance Base
$111 $116 $123 $127 $130 $147 $161 $165 $174 $182 $188 $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 2026 SERVICE MAINTENANCE BASE ($ in millions) (Unaudited) 8
Slide 10: Recent Financial Performance
NINE MONTHS ENDED (Unaudited) THREE MONTHS ENDED (Unaudited) 9/30/25 9/30/26 9/30/25 9/30/26 ($ in millions, except per share information) $6,455.6 $9,897.3 $2,451.0 $3,766.3 Revenue $691.8 $1,301.0 $291.6 $489.0 Net Income $19.52 $36.94 $8.25 $13.91 Diluted EPS $990.6 $1,792.7 $413.9 $667.9 Adjuste
Slide 11: Financial Strength
FINANCIAL STRENGTH • Positive free cash flow for 27 consecutive years • Increased dividend for 14 consecutive years • Debt/TTM EBITDA = 0.02 • $2.16B cash at September 30, 2026 • $49.6M total debt at September 30, 2026 • Debt capacity – No borrowings at September 30, 2026 – $1.10B senior credit faci
Slide 12: Capital Discipline
$108,384 71% $28,588 18% $16,408 11% AVERAGE 2007 - 2025 Acquisitions Share Repurchases Dividends CAPITAL DISCIPLINE ($ in thousands) 11
Slide 13: Capital Returned
CAPITAL RETURNED ($ in thousands) CAPITAL RETURNED DIVIDENDS SHARE REPURCHASES FISCAL PERIOD $19,994 $10,987 $9,007 2017 $40,801 $12,268 $28,533 2018 $34,093 $14,543 $19,550 2019 $45,619 $15,499 $30,120 2020 $44,438 $17,384 $27,054 2021 $58,293 $20,077 $38,216 2022 $51,563 $30,379 $21,184 2023 $100,
Slide 14: Modular Off-Site Construction
MODULAR OFF - SITE CONSTRUCTION
Slide 15: Modular Off-Site Construction
MODULAR OFF - SITE CONSTRUCTION 14
Slide 16: Foster a safe, collaborative, and inclusive environment
Foster a safe, collaborative, and inclusive environment for our employees • We maintain a Talent Advisory Group, consisting of a broad group of internal stakeholders, to ensure the Company continually takes meaningful steps to remain an inclusive place of business. • 100% of our operational sites ha
Slide 17: Innovation with an Emphasis on Productivity
TIME INNOVATION INNOVATION WITH AN EMPHASIS ON PRODUCTIVITY 2005 – 2015 • Early adoption of BIM • Industry - leading prefabrication • Best practice sharing across subsidiaries 2015 – PRESENT • Investments in advanced BIM technologies • EAS & TAS modular construction • Mobile technology deployment in
Slide 18: Our Values
Be safe Be honest Be respectful Be innovative Be collaborative OUR VALUES 17
Slide 19: Our Strengths
OUR STRENGTHS • Unmatched workforce • Consistent free cash flow • Strong Balance Sheet • Strong acquisition record • Attractive geographies • Leading innovation 18
Slide 20: Thank You
THANK YOU 211 LOCATIONS 52 operating companies across America at 211 locations in 155 cities 26,000+ of the most qualified HVAC and electrical contracting personnel in America 26,000+ EMPLOYEES $12.0+ BILLION Approximately $12.0+ billion in yearly revenue 19 CONTACT: Chrissy Nelson Director – Invest
Slide 21: Appendix I – GAAP Reconciliation to Adjusted EBITDA
APPENDIX I – GAAP RECONCILIATION TO ADJUSTED EBITDA Nine Months Ended September 30, Three Months Ended September 30, 2025 2026 2025 2026 ($ in thousands) (Unaudited) $691,752 $1,301,024 $291,615 $489,044 Net Income 183,202 382,421 78,843 146,012 Provision for Income Taxes 226 (1,456) (280) (284) Oth
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