The nation’s largest mechanical, electrical, and specialty contractors posted another strong quarter in Q2 2025, signaling continued strength across industrial, institutional, and select commercial markets. Revenue growth, margin expansion, and record backlogs reflect both healthy demand and disciplined execution. Technology-related work, particularly data centers, remains a major growth driver, while strategic acquisitions are expanding capabilities and market reach.
EMCOR Group (NYSE: EME)
EMCOR delivered a record-setting quarter with revenue of $4.30 billion, up 17.4% year-over-year. Growth was led by the U.S. electrical segment, which rose 67.5% with the Miller Electric acquisition and strong demand for data center and healthcare projects. US mechanical construction increased 6.6%, benefiting from network and communications work, manufacturing, and hospitality. Operating income climbed nearly 25% to $415 million, with operating margin improving 57 bps to 9.6%. Backlog ended the quarter at $11.91 billion, up 32% from last year, supported by wins in water and wastewater, institutional, and hospitality markets. Management expects margin stability through the remainder of 2025, underpinned by strong execution and a healthy project mix.
Comfort Systems USA (NYSE: FIX)
Comfort Systems surpassed the $2 billion quarterly revenue mark for the first time, reporting $2.17 billion in Q2, up 20.1% from last year. Adjusted EBITDA grew 50% to $334 million, while gross profit margin expanded to 23.5% from 20.1%. Electrical revenue rose 49%, and mechanical revenue increased 13%, driven by industrial, institutional, and technology-focused work. Backlog closed at $8.12 billion, a 41% increase year-over-year, fueled by strong data center bookings and industrial demand. The company also acquired Right Way Plumbing in Florida, expected to generate $60 to $70 million annually, and raised its dividend to $0.50 per share. Leadership projects mid-teen same-store revenue growth and continued profitability strength through year-end.
MYR Group (NASDAQ: MYRG)
MYR Group reported Q2 revenue of $900.3 million, an 8.6% increase over last year, with EBITDA improving to $55.6 million from a prior-year loss. Gross margin rose to 11.5% from 4.9%, supported by productivity gains, favorable job closeouts, and the absence of large loss projects. Transmission and Distribution revenue increased 10.5%, while Commercial and Industrial revenue rose 6.3%, driven by higher fixed-price contract activity. Backlog stood at $2.64 billion, up 3.8% year-over-year, with multiple new master service agreements, including a five-year, $500 million-plus agreement with Xcel Energy. The company also approved a new $75 million share repurchase program and continues to focus on growth in grid modernization, electrification, and data center infrastructure.
Looking Ahead
The second half of 2025 is shaping up to be equally strong for the nation’s largest contractors. Record backlogs provide revenue visibility well into 2026, and the momentum in high-growth markets such as data centers, healthcare, and infrastructure is expected to continue. While labor availability and project execution will remain critical to sustaining margins, these companies are entering the next two quarters with solid pipelines, strengthened balance sheets, and proven strategies for capturing complex, large-scale projects. For owners in the mechanical, electrical, and specialty contracting sectors, the market indicators point to a favorable environment for both growth and strategic positioning.
