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22h ago

Comfort Systems Soars on Q3 Beat, Bigger Backlog and Dividend Hike

A surging backlog plus stronger cash generation sharpen revenue visibility as investors tie growth to AI-related data-center work.

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Overview

  • The company posted earnings of $8.25 per share versus a $6.20 consensus on revenue of $2.45 billion, up 35% year over year.
  • Backlog reached $9.38 billion as of Sept. 30, up from $8.12 billion in June and $5.68 billion a year earlier, pointing to sustained demand.
  • Operating cash flow rose to $553.3 million from $302.2 million in the prior-year quarter.
  • The board raised the quarterly dividend to $0.60 per share, payable Nov. 24 to shareholders of record on Nov. 13.
  • Shares jumped roughly 17%–18% Friday as investors highlighted AI-linked data-center and chip-plant projects and noted two Oct. 1 electrical acquisitions expected to add over $200 million in annual revenue and $15–$20 million in EBITDA.