Cash at Comfort Systems USA reached USD 2.2bn in Q3 2026

Comfort Systems USA, a US contractor that installs and services mechanical, heating and cooling systems in buildings, reported revenue of USD 3.8bn for Q3 2026, up 53.7% on Q3 2025. Operating profit rose 64.8% to USD 625m, and net profit rose 67.7% to USD 489m. The operating margin widened to 16.6% from 15.5%. Cash ended the quarter at USD 2.2bn, against USD 861m a year earlier. In October 2026 the company also filed a regulatory report on a change of chief financial officer.

A contractor of this kind is paid in stages as projects advance, and large projects often bring customer deposits and billings ahead of the work. That can lift cash quickly during a growth spurt. Equity grew to USD 3.3bn, yet total assets grew faster, so the equity ratio slipped to 34.0% from 38.7%. The accounts do not show how much of the cash is tied to unfinished projects. I would watch whether the cash stays once those projects are delivered and paid for.