Q2 Earnings Roundup: Comfort Systems (NYSE:FIX) And The Rest Of The Construction and Maintenance Services Segment

As the Q2 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the construction and maintenance services industry, including Comfort Systems (NYSE:FIX) and its peers.

Construction and maintenance services companies not only boast technical know-how in specialized areas but also may hold special licenses and permits. Those who work in more regulated areas can enjoy more predictable revenue streams - for example, fire escapes need to be inspected every five years. More recently, services to address energy efficiency and labor availability are also creating incremental demand. But like the broader industrials sector, construction and maintenance services companies are at the whim of economic cycles as external factors like interest rates can greatly impact the new construction that drives incremental demand for these companies’ offerings.

The 13 construction and maintenance services stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 3.5% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 9.4% on average since the latest earnings results.

Comfort Systems (NYSE:FIX)

Formed through the merger of 12 companies, Comfort Systems (NYSE:FIX) provides mechanical and electrical contracting services.

Comfort Systems reported revenues of $2.17 billion, up 20.1% year on year. This print exceeded analysts’ expectations by 10.6%. Overall, it was an incredible quarter for the company with an impressive beat of analysts’ backlog and EPS estimates.

Brian Lane, Comfort Systems USA’s President and Chief Executive Officer, said, “Our businesses and their stellar teams continue to demonstrate world class performance, as we achieved earnings that far surpass all prior quarters. Per share earnings in the second quarter of 2025 was $6.53, more than 70% higher than the spectacular results we achieved in the second quarter of 2024. For the first half of 2025, our per share earnings have grown by over 75% as compared to the record results in the same period of 2024. This quarter, we are also happy to report strong operating cash flow of over $250 million.”

Interestingly, the stock is up 41.5% since reporting and currently trades at $796.40.

Read why we think that Comfort Systems is one of the best construction and maintenance services stocks, our full report is free.

Primoris (NYSE:PRIM)

Listed on the NASDAQ in 2008, Primoris (NYSE:PRIM) builds, maintains, and upgrades infrastructure in the utility, energy, and civil construction industries.

Primoris reported revenues of $1.89 billion, up 20.9% year on year, outperforming analysts’ expectations by 12.1%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

Primoris achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 39.5% since reporting. It currently trades at $130.

Is now the time to buy Primoris? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Matrix Service (NASDAQ:MTRX)

Founded in Oklahoma, Matrix Service (NASDAQ:MTRX) provides engineering, fabrication, construction, and maintenance services primarily to the energy and industrial markets.

Matrix Service reported revenues of $216.4 million, up 14.2% year on year, falling short of analysts’ expectations by 6.8%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations and a significant miss of analysts’ EBITDA estimates.

Matrix Service delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. As expected, the stock is down 8.9% since the results and currently trades at $12.97.

Read our full analysis of Matrix Service’s results here.

Granite Construction (NYSE:GVA)

Having played a role in the construction of the Hoover Dam, Granite Construction (NYSE:GVA) is a provider of infrastructure solutions for roads, bridges, and other projects.

Granite Construction reported revenues of $1.13 billion, up 4% year on year. This number lagged analysts' expectations by 3%. Taking a step back, it was still a strong quarter as it recorded full-year revenue guidance exceeding analysts’ expectations and an impressive beat of analysts’ EBITDA estimates.

The stock is up 17.8% since reporting and currently trades at $110.

Read our full, actionable report on Granite Construction here, it’s free.

Tutor Perini (NYSE:TPC)

Known for constructing the Philadelphia Eagles’ Stadium, Tutor Perini (NYSE:TPC) is a civil and building construction company offering diversified general contracting and design-build services.

Tutor Perini reported revenues of $1.37 billion, up 21.8% year on year. This print beat analysts’ expectations by 8.5%. It was a stunning quarter as it also put up an impressive beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.

The stock is up 38.6% since reporting and currently trades at $65.48.

Read our full, actionable report on Tutor Perini here, it’s free.

Market Update

Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.

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