ADDED
As of February 13, 2026, 35,174,967 shares of the registrant s common stock were outstanding (excluding treasury shares of 5,948,398).
These forward-looking statements are based on the current expectations and beliefs of the Company concerning future developments and their effect on the Company.
For additional information regarding known material factors that could cause the Company s results to differ from its projected results, please see its filings with the SEC, including its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
The Company undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether because of new information, future events, or otherwise, except as otherwise required by law.
We build, install, maintain, repair and replace mechanical, electrical and plumbing ( MEP ) systems through our 50 operating units with 190 locations in 142 cities throughout the United States.
Approximately 63.2% of our revenue was attributable to installation services in newly constructed facilities and 36.8% was attributable to renovation, expansion, maintenance, repair and replacement services in existing buildings.
Our consolidated 2025 revenue was derived from the following service industries: Percentage of Service Activity Revenue Mechanical Services 73.3 % Electrical Services 26.7 % Total 100.0 % Industry Overview We believe that commercial, industrial, and institutional mechanical and electrical contracting generate annual revenue in the United States of approximately $700 billion.
Our industry can be broadly divided into two categories: construction of and installation in new buildings, which provided approximately 63.2% of our revenue in 2025, and renovation, expansion, maintenance, repair and replacement in existing buildings, which provided the remaining 36.8% of our 2025 revenue.
Costs and other project terms are normally negotiated between the building owner or its representative and the contracting company.
Our distribution of revenue in 2025 by end-use sector was as follows: Technology 45.0 % Manufacturing 22.1 % Healthcare 8.9 % Education 7.3 % Government 5.0 % Office Buildings 5.0 % Retail, Restaurants and Entertainment 3.7 % Multi-Family and Residential 1.4 % Other 1.6 % Total 100.0 % Approximately 92.7% of our revenue is earned on a project basis for installation of systems in newly constructed or existing facilities.
REMOVED
As of February 14, 2025, 35,553,062 shares of the registrant s common stock were outstanding (excluding treasury shares of 5,570,303).
These forward-looking statements are based on the current expectations and beliefs of Comfort Systems USA, Inc.
and its subsidiaries (collectively, the Company ) concerning future developments and their effect on the Company.
Known material factors that could cause the Company s actual results to differ from those in the forward-looking statements are those described in Part I, Item 1A.
The Company undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events, or otherwise.
We build, install, maintain, repair and replace mechanical, electrical and plumbing ( MEP ) systems throughout our 47 operating units with 178 locations in 136 cities throughout the United States.
Approximately 56.7% of our revenue was attributable to installation services in newly constructed facilities and 43.3% was attributable to renovation, expansion, maintenance, repair and replacement services in existing buildings.
Our consolidated 2024 revenue was derived from the following service industries: Percentage of Service Activity Revenue Mechanical Services 78.7 % Electrical Services 21.3 % Total 100.0 % Industry Overview We believe that commercial, industrial, and institutional mechanical and electrical contracting generate annual revenue in the United States of approximately $550 billion.
Our industry can be broadly divided into two categories: construction of and installation in new buildings, which provided approximately 56.7% of our revenue in 2024, and renovation, expansion, maintenance, repair and replacement in existing buildings, which provided the remaining 43.3% of our 2024 revenue.
In design and build projects, the commercial MEP company is responsible for designing, engineering and installing a cost-effective, energy-efficient system customized to the specific needs of the building owner.