The nation’s largest mechanical, electrical, and specialty contractors opened 2026 with another set of record results, reflecting sustained demand across technology-driven construction, grid modernization, and resilient institutional end markets. Revenue growth accelerated and profitability expanded as contractors continued to execute on complex work with improving productivity and disciplined project selection. Backlogs continue to push new highs, providing strong visibility into the rest of the year and into 2027. Data center and AI-related infrastructure remained a primary growth engine, supported by healthcare, water/wastewater, manufacturing, and utility investment, while acquisitions and capacity investments continued to broaden geographic reach and deepen technical capabilities.
Comfort Systems USA (NYSE: FIX)
Comfort Systems delivered a breakout start to 2026, reporting Q1 revenue of $2.87 billion, up 56% year-over-year, with same-store revenue up 51% as technology and data center demand drove volume. Gross profit increased to $754 million and gross margin expanded to 26.3% from 22.0% last year, supported by strong project execution and favorable late-stage developments. EBITDA increased to $524 million (+116% YoY). Backlog reached a record $12.45 billion at quarter-end, up from $6.89 billion a year earlier, reflecting strong bookings despite higher burn rates. The company also generated $389 million in operating cash flow and approximately $242 million in free cash flow, while increasing investment in modular capabilities (Q1 capex $147 million).
EMCOR Group (NYSE: EME)
EMCOR started 2026 with record quarterly revenue of $4.63 billion, up 19.7% year-over-year, driven by broad-based strength across U.S. construction markets tied to data centers and AI infrastructure and other institutional and industrial demand. Gross profit reached $864 million (18.7% gross margin), up 19.5% from $757 million a year ago. Remaining performance obligations increased to a record $15.62 billion, up 32.9% year-over-year, reinforcing strong forward visibility. Segment performance was led by U.S. Electrical Construction & Facilities Services revenue of $1.45 billion (+33.1% YoY) and U.S. Mechanical Construction & Facilities Services revenue of $2.03 billion (+28.9% YoY). Management raised full-year 2026 guidance to $18.50–$19.25 billion of revenue (from $17.75–$18.50 billion), citing continued strength in mission-critical markets and record backlog.
MYR Group (NASDAQ: MYRG)
MYR Group reported record first-quarter 2026 results with revenue of $1.00 billion, up 20% year-over-year, reflecting strength in both Transmission & Distribution (T&D) and Commercial & Industrial (C&I) markets tied to grid investment and large-scale commercial / industrial construction. T&D revenue increased 17% to $541 million, while C&I revenue rose 24% to a record $459 million. Gross margin improved to 13.4% from 11.6% on a larger mix of projects progressing at higher contractual margins, favorable change orders, and strong job close-outs. EBITDA increased to a record $81.5 million, up 63% year-over-year. Backlog reached a record $2.84 billion, up 8% year-over-year, supporting continued momentum into the remainder of 2026.
Looking Ahead
Following a strong Q1, each of the three businesses raised full year 2026 revenue guidance. Investments in data centers and AI infrastructure continue to be the driving force behind the record backlogs. Management teams believe that this explosive growth will continue and note that supply constraints will be the governor on growth, rather than demand. Finding and retaining key people, investing in foreman and project management is key to building scale going forward.
For owners and stakeholders across the mechanical, electrical, and specialty contracting sectors, this demand environment—paired with a tight skilled-labor market—can translate into stronger pricing power, fuller backlogs, and greater leverage to be selective on scope and contract terms. For people working in the trades, sustained volume and labor scarcity typically support higher wages, more overtime opportunities, and increased investment in training and career advancement into foreman and project-lead roles.
