Comfort Systems USA Inc 10-Q for FY2026 Q3

Comfort Systems USA Inc (FIX)

10-Q 2026-10-22 For: 2026-09-30

Added on October 22, 2026

About this 10-Q

Comfort Systems USA Inc filed this 10-Q on October 22, 2026, covering the quarter ended September 30, 2026 (FY2026 Q3).

Comfort Systems USA, Inc. reported third-quarter 2026 revenue of $3.77 billion, up 53.7%, with backlog $17.81 billion at September 30, 2026. Management expects demand from manufacturing and technology customers to remain high through 2027 amid labor-cost and supply-chain pressures. AI summary

Headline figures

Quarter ended September 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $3.77B; up 53.7% from $2.45B a year earlier
Net income: $489.04M; up 67.7% from net income of $291.62M a year earlier
Diluted EPS: $13.91; up 68.6% from $8.25 a year earlier

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	FIX	New York Stock Exchange

Large accelerated filer ⌧	Accelerated filer ◻	Non-accelerated filer ◻	Smaller reporting company ☐	Emerging growth company ☐


		Page
Part I—Financial Information		2
Item 1—Financial Statements		2
Consolidated Balance Sheets		2
Consolidated Statements of Operations		3
Consolidated Statements of Stockholders’ Equity		4
Consolidated Statements of Cash Flows		6
Condensed Notes to Consolidated Financial Statements		7
Item 2—Management’s Discussion and Analysis of Financial Condition and Results of Operations		21
Item 3—Quantitative and Qualitative Disclosures about Market Risk		33
Item 4—Controls and Procedures		34
Part II—Other Information		34
Item 1—Legal Proceedings		34
Item 1A—Risk Factors		34
Item 2—Unregistered Sales of Equity Securities and Use of Proceeds		35
Item 5—Other Information		35
Item 6—Exhibits		36
Signatures		37


		September 30,			December 31,
		2026			2025
		(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	2,158,027		$	981,898
Billed accounts receivable, less allowance for credit losses of $24,384 and $19,708, respectively			3,837,245			2,577,858
Unbilled accounts receivable, less allowance for credit losses of $2,497 and $1,508, respectively			184,114			123,197
Other receivables, less allowance for credit losses of $223 and $325, respectively			128,997			116,157
Inventories			120,921			84,066
Prepaid expenses and other			187,558			138,560
Costs and estimated earnings in excess of billings, less allowance for credit losses of $458 and $255, respectively			159,328			88,817
Total current assets			6,776,190			4,110,553
PROPERTY AND EQUIPMENT, NET			862,733			387,952
LEASE RIGHT-OF-USE ASSETS			349,631			322,922
GOODWILL			1,149,698			1,025,515
IDENTIFIABLE INTANGIBLE ASSETS, NET			548,435			485,168
DEFERRED TAX ASSETS			85,591			84,139
OTHER NONCURRENT ASSETS			33,005			24,920
Total assets		$	9,805,283		$	6,441,169
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current maturities of long-term debt		$	5,710		$	6,163
Accounts payable			945,969			696,348
Accrued compensation and benefits			537,663			291,722
Billings in excess of costs and estimated earnings and deferred revenue			3,872,012			2,120,262
Accrued self-insurance			41,330			42,973
Other current liabilities			508,887			236,382
Total current liabilities			5,911,571			3,393,850
LONG-TERM DEBT			43,845			139,063
LEASE LIABILITIES			324,878			302,590
DEFERRED TAX LIABILITIES			3,892			3,892
OTHER LONG-TERM LIABILITIES			185,854			153,000
Total liabilities			6,470,040			3,992,395
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Preferred stock, $.01 par, 5,000,000 shares authorized, none issued and outstanding			—			—
Common stock, $.01 par, 102,969,912 shares authorized, 41,123,365 and 41,123,365 shares issued, respectively			411			411
Treasury stock, at cost, 6,129,102 and 5,946,145 shares, respectively			(858,737)			(496,006)
Additional paid-in capital			395,875			363,314
Retained earnings			3,797,694			2,581,055
Total stockholders’ equity			3,335,243			2,448,774
Total liabilities and stockholders’ equity		$	9,805,283		$	6,441,169


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2026			2025			2026			2025
REVENUE		$	3,766,302		$	2,450,969		$	9,897,290		$	6,455,574
COST OF SERVICES			2,831,820			1,843,098			7,364,168			4,934,390
Gross profit			934,482			607,871			2,533,122			1,521,184
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES			314,165			229,579			870,208			634,919
GAIN ON SALE OF ASSETS			(4,253)			(582)			(5,340)			(1,580)
Operating income			624,570			378,874			1,668,254			887,845
OTHER INCOME (EXPENSE):
Interest income			15,979			6,381			35,542			13,467
Interest expense			(1,482)			(2,974)			(5,097)			(6,198)
Changes in the fair value of contingent earn-out obligations			(4,295)			(12,103)			(16,710)			(19,934)
Other			284			280			1,456			(226)
Other income (expense)			10,486			(8,416)			15,191			(12,891)
INCOME BEFORE INCOME TAXES			635,056			370,458			1,683,445			874,954
PROVISION FOR INCOME TAXES			146,012			78,843			382,421			183,202
NET INCOME		$	489,044		$	291,615		$	1,301,024		$	691,752

INCOME PER SHARE:
Basic		$	13.93		$	8.26		$	36.98		$	19.55
Diluted		$	13.91		$	8.25		$	36.94		$	19.52

SHARES USED IN COMPUTING INCOME PER SHARE:
Basic			35,116			35,307			35,183			35,379
Diluted			35,152			35,365			35,221			35,445


(Mark One)
☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to

Delaware (State or other jurisdiction of Incorporation or Organization)	76-0526487 (I.R.S. Employer Identification No.)
9753 Katy Freeway Suite 700 Houston, Texas 77024 (Address of Principal Executive Offices) (Zip Code)


		Nine Months Ended
		September 30, 2025
												Additional						Total
		Common Stock					Treasury Stock					Paid-In			Retained			Stockholders’
		Shares		Amount			Shares		Amount			Capital			Earnings			Equity
BALANCE AT DECEMBER 31, 2024		41,123,365		$	411		(5,562,453)		$	(273,799)		$	350,734		$	1,627,330		$	1,704,676
Net income		—			—		—			—			—			169,289			169,289
Issuance of Stock:
Issuance of shares for options exercised		—			—		—			—			—			—			—
Issuance of restricted stock & performance stock		—			—		18,448			1,156			5,445			—			6,601
Shares received in lieu of tax withholding on vested stock		—			—		(7,330)			(2,622)			—			—			(2,622)
Stock-based compensation		—			—		—			—			5,474			—			5,474
Dividends ($0.40 per share)		—			—		—			—			—			(14,162)			(14,162)
Share repurchases		—			—		(264,054)			(92,243)			—			—			(92,243)
BALANCE AT MARCH 31, 2025		41,123,365			411		(5,815,389)			(367,508)			361,653			1,782,457			1,777,013
Net income		—			—		—			—			—			230,848			230,848
Issuance of Stock:
Issuance of shares for options exercised		—			—		12,500			830			(377)			—			453
Issuance of restricted stock & performance stock		—			—		35,609			2,337			(2,337)			—			—
Shares received in lieu of tax withholding on vested stock		—			—		(12,255)			(3,977)			—			—			(3,977)
Stock-based compensation		—			—		—			—			2,723			—			2,723
Dividends ($0.45 per share)		—			—		—			—			—			(15,871)			(15,871)
Share repurchases		—			—		(62,378)			(19,980)			—			—			(19,980)
BALANCE AT JUNE 30, 2025		41,123,365			411		(5,841,913)			(388,298)			361,662			1,997,434			1,971,209
Net income		—			—		—			—			—			291,615			291,615
Issuance of Stock:
Issuance of shares for options exercised		—			—		8,436			565			(225)			—			340
Issuance of restricted stock & performance stock		—			—		1,424			97			(97)			—			—
Shares received in lieu of tax withholding on vested stock		—			—		(407)			(282)			—			—			(282)
Stock-based compensation		—			—		—			—			1,348			—			1,348
Dividends ($0.50 per share)		—			—		—			—			—			(17,641)			(17,641)
Share repurchases		—			—		(18,955)			(13,203)			—			—			(13,203)
BALANCE AT SEPTEMBER 30, 2025		41,123,365		$	411		(5,851,415)		$	(401,121)		$	362,688		$	2,271,408		$	2,233,386


		Nine Months Ended
		September 30, 2026
												Additional						Total
		Common Stock					Treasury Stock					Paid-In			Retained			Stockholders’
		Shares		Amount			Shares		Amount			Capital			Earnings			Equity
BALANCE AT DECEMBER 31, 2025		41,123,365		$	411		(5,946,145)		$	(496,006)		$	363,314		$	2,581,055		$	2,448,774
Net income		—			—		—			—			—			370,378			370,378
Issuance of Stock:
Issuance of shares for options exercised		—			—		9,000			754			(371)			—			383
Issuance of restricted stock & performance stock		—			—		5,674			476			7,535			—			8,011
Shares received in lieu of tax withholding on vested stock		—			—		(2,218)			(3,125)			—			—			(3,125)
Stock-based compensation		—			—		—			—			17,798			—			17,798
Dividends ($0.70 per share)		—			—		—			—			—			(24,623)			(24,623)
Share repurchases		—			—		(2,553)			(2,548)			—			—			(2,548)
BALANCE AT MARCH 31, 2026		41,123,365			411		(5,936,242)			(500,449)			388,276			2,926,810			2,815,048
Net income		—			—		—			—			—			441,602			441,602
Issuance of Stock:
Issuance of shares for options exercised		—			—		—			—			—			—			—
Issuance of restricted stock & performance stock		—			—		25,729			2,171			(2,171)			—			—
Shares received in lieu of tax withholding on vested stock		—			—		(9,472)			(13,537)			—			—			(13,537)
Stock-based compensation		—			—		—			—			8,002			—			8,002
Dividends ($0.80 per share)		—			—		—			—			—			(28,162)			(28,162)
Share repurchases		—			—		(3,171)			(5,684)			—			—			(5,684)
BALANCE AT JUNE 30, 2026		41,123,365			411		(5,923,156)			(517,499)			394,107			3,340,250			3,217,269
Net income		—			—		—			—			—			489,044			489,044
Issuance of Stock:
Issuance of shares for options exercised		—			—		—			—			—			—			—
Issuance of restricted stock & performance stock		—			—		1,026			143			(143)			—			—
Shares received in lieu of tax withholding on vested stock		—			—		(300)			(467)			—			—			(467)
Stock-based compensation		—			—		—			—			1,911			—			1,911
Dividends ($0.90 per share)		—			—		—			—			—			(31,600)			(31,600)
Share repurchases		—			—		(206,672)			(340,914)			—			—			(340,914)
BALANCE AT SEPTEMBER 30, 2026		41,123,365		$	411		(6,129,102)		$	(858,737)		$	395,875		$	3,797,694		$	3,335,243


		Three Months Ended September 30,										Nine Months Ended September 30,
Revenue by Service Provided		2026					2025					2026					2025
Mechanical segment		$	2,582,889	68.6	%		$	1,810,462	73.9	%		$	6,940,178	70.1	%		$	4,851,349	75.1	%
Electrical segment			1,183,413	31.4	%			640,507	26.1	%			2,957,112	29.9	%			1,604,225	24.9	%
Total		$	3,766,302	100.0	%		$	2,450,969	100.0	%		$	9,897,290	100.0	%		$	6,455,574	100.0	%

		Three Months Ended September 30,										Nine Months Ended September 30,
Revenue by Customer Type		2026					2025					2026					2025
Technology		$	2,290,001	60.8	%		$	1,122,528	45.8	%		$	5,823,870	58.8	%		$	2,734,280	42.4	%
Manufacturing			631,631	16.8	%			543,110	22.2	%			1,703,430	17.2	%			1,468,936	22.7	%
Healthcare			236,387	6.3	%			206,965	8.5	%			687,704	6.9	%			589,848	9.1	%
Education			178,515	4.6	%			171,707	7.0	%			480,184	4.9	%			527,794	8.2	%
Government			139,255	3.7	%			122,284	5.0	%			415,075	4.2	%			326,318	5.1	%
Office buildings			100,033	2.7	%			125,458	5.1	%			272,841	2.8	%			358,445	5.5	%
Retail, restaurants, and entertainment			99,942	2.7	%			88,503	3.6	%			271,121	2.7	%			250,619	3.9	%
Multi-family and residential			44,821	1.2	%			35,342	1.4	%			124,534	1.3	%			96,909	1.5	%
Other			45,717	1.2	%			35,072	1.4	%			118,531	1.2	%			102,425	1.6	%
Total		$	3,766,302	100.0	%		$	2,450,969	100.0	%		$	9,897,290	100.0	%		$	6,455,574	100.0	%

		Three Months Ended September 30,										Nine Months Ended September 30,
Revenue by Activity Type		2026					2025					2026					2025
New construction		$	2,868,291	76.2	%		$	1,597,452	65.2	%		$	7,455,849	75.3	%		$	3,919,402	60.7	%
Existing building construction			528,261	14.0	%			527,139	21.5	%			1,448,331	14.6	%			1,626,978	25.2	%
Service projects			190,592	5.1	%			150,383	6.1	%			473,422	4.8	%			415,868	6.5	%
Service calls, maintenance, and monitoring			179,158	4.7	%			175,995	7.2	%			519,688	5.3	%			493,326	7.6	%
Total		$	3,766,302	100.0	%		$	2,450,969	100.0	%		$	9,897,290	100.0	%		$	6,455,574	100.0	%


	September 30, 2026		December 31, 2025
Contract assets:
Costs and estimated earnings in excess of billings, less allowance for credit losses	$	159,328	$	88,817
Contract liabilities:
Billings in excess of costs and estimated earnings and deferred revenue	$	3,872,012	$	2,120,262


		Fair Value Measurements at September 30, 2026
		Level 1			Level 2			Level 3			Total
Cash and cash equivalents		$	2,158,027		$	—		$	—		$	2,158,027
U.S. Treasury bills		$	—		$	65,772		$	—		$	65,772
Contingent earn-out obligations		$	—		$	—		$	50,757		$	50,757

		Fair Value Measurements at December 31, 2025
		Level 1			Level 2			Level 3			Total
Cash and cash equivalents		$	981,898		$	—		$	—		$	981,898
U.S. Treasury bills		$	—		$	34,357		$	—		$	34,357
Contingent earn-out obligations		$	—		$	—		$	34,842		$	34,842


		Nine Months Ended		Year Ended
		September 30, 2026		December 31, 2025
Balance at beginning of period		$	34,842	$	140,156
Issuances			19,353		4,059
Settlements			(20,148)		(142,846)
Adjustments to fair value			16,710		33,473
Balance at end of period		$	50,757	$	34,842


		Mechanical Segment			Electrical Segment			Total
Balance at December 31, 2024		$	601,512		$	273,758		$	875,270
Acquisitions and purchase price adjustments (See Note 5)			52,897			97,348			150,245
Balance at December 31, 2025			654,409			371,106			1,025,515
Acquisitions and purchase price adjustments (See Note 5)			17,077			107,106			124,183
Balance at September 30, 2026		$	671,486		$	478,212		$	1,149,698


		Nine Months Ended
		September 30,
		2026			2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	1,301,024		$	691,752
Adjustments to reconcile net income to net cash provided by operating activities—
Amortization of identifiable intangible assets			69,359			59,432
Depreciation expense			60,452			44,914
Change in right-of-use assets			40,202			22,535
Bad debt expense			6,302			5,617
Deferred tax provision (benefit)			(1,452)			7,537
Amortization of debt financing costs			696			786
Gain on sale of assets			(5,340)			(1,580)
Changes in the fair value of contingent earn-out obligations			16,710			19,934
Stock-based compensation			31,248			15,746
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures—
(Increase) decrease in—
Receivables, net			(1,166,982)			(378,644)
Inventories			(36,205)			(19,518)
Prepaid expenses and other current assets			(32,692)			(13,228)
Costs and estimated earnings in excess of billings and unbilled accounts receivable			(107,980)			(119,619)
Other noncurrent assets			(5,244)			(567)
Increase (decrease) in—
Accounts payable and other current liabilities			681,439			(194,715)
Billings in excess of costs and estimated earnings and deferred revenue			1,692,696			564,746
Other long-term liabilities			(5,853)			12,688
Net cash provided by operating activities			2,538,380			717,816
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment			(499,437)			(88,813)
Proceeds from sales of property and equipment			8,229			3,152
Cash paid for acquisitions, net of cash acquired			(262,873)			(128,594)
Payments for investments			(133,752)			(28,999)
Proceeds from investments			99,260			7,258
Net cash used in investing activities			(788,573)			(235,996)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility			—			200,000
Payments on revolving credit facility			(100,000)			(100,000)
Payments on other debt			(25,485)			(43,037)
Debt financing costs			—			(3,709)


Year ending December 31—
2026 (remainder of the year)	$	25,144
2027		86,539
2028		73,947
2029		67,679
2030		55,145
Thereafter		239,981
Total	$	548,435


		Net Leverage Ratio
		Less than 1.00		1.00 to less than 1.75		1.75 to less than 2.50		2.50 to less than 3.00		3.00 or greater
Additional per annum interest margin added under:
Base rate loan option		0.00	%	0.25	%	0.50	%	0.75	%	1.00	%
SOFR loan option		1.00	%	1.25	%	1.50	%	1.75	%	2.00	%


		Balance at		Range of Stated
		September 30, 2026		Interest Rates
2027		$	10,700	4.0 - 4.3	%
2028			14,250	4.3 - 5.5	%
2029			24,000	4.5	%
Total		$	48,950


		Three Months Ended September 30, 2026
		Mechanical Segment			Electrical Segment			Corporate			Consolidated
Revenue		$	2,582,889		$	1,183,413		$	—		$	3,766,302
Cost of services			1,935,615			896,205			—			2,831,820
Gross profit			647,274			287,208			—			934,482
Selling, general and administrative expenses			181,701			113,846			18,618			314,165
Gain on sale of assets			(4,015)			(238)			—			(4,253)
Operating income (loss)		$	469,588		$	173,600		$	(18,618)		$	624,570
Reconciliation to income before income taxes:
Other income (expense)												10,486
Income before income taxes											$	635,056

Amortization of identifiable intangible assets		$	10,831		$	14,860		$	—		$	25,691
Depreciation expense		$	17,885		$	3,612		$	353		$	21,850
Capital expenditures		$	196,538		$	13,511		$	551		$	210,600


		Three Months Ended September 30, 2025
		Mechanical Segment			Electrical Segment			Corporate			Consolidated
Revenue		$	1,810,462		$	640,507		$	—		$	2,450,969
Cost of services			1,370,687			472,411			—			1,843,098
Gross profit			439,775			168,096			—			607,871
Selling, general and administrative expenses			152,442			60,021			17,116			229,579
Gain on sale of assets			(418)			(164)			—			(582)
Operating income (loss)		$	287,751		$	108,239		$	(17,116)		$	378,874
Reconciliation to income before income taxes:
Other income (expense)												(8,416)
Income before income taxes											$	370,458

Amortization of identifiable intangible assets		$	14,001		$	5,525		$	—		$	19,526
Depreciation expense		$	13,048		$	2,600		$	400		$	16,048
Capital expenditures		$	28,881		$	5,787		$	664		$	35,332


		Nine Months Ended September 30, 2026
		Mechanical Segment			Electrical Segment			Corporate			Consolidated
Revenue		$	6,940,178		$	2,957,112		$	—		$	9,897,290
Cost of services			5,150,117			2,214,051			—			7,364,168
Gross profit			1,790,061			743,061			—			2,533,122
Selling, general and administrative expenses			500,613			295,525			74,070			870,208
Gain on sale of assets			(4,988)			(352)			—			(5,340)
Operating income (loss)		$	1,294,436		$	447,888		$	(74,070)		$	1,668,254
Reconciliation to income before income taxes:
Other income (expense)												15,191
Income before income taxes											$	1,683,445

Amortization of identifiable intangible assets		$	32,037		$	37,322		$	—		$	69,359
Depreciation expense		$	49,529		$	9,813		$	1,110		$	60,452
Capital expenditures		$	468,570		$	29,325		$	1,542		$	499,437


		Nine Months Ended September 30, 2025
		Mechanical Segment			Electrical Segment			Corporate			Consolidated
Revenue		$	4,851,349		$	1,604,225		$	—		$	6,455,574
Cost of services			3,732,449			1,201,941			—			4,934,390
Gross profit			1,118,900			402,284			—			1,521,184
Selling, general and administrative expenses			421,786			159,302			53,831			634,919
Gain on sale of assets			(1,141)			(439)			—			(1,580)
Operating income (loss)		$	698,255		$	243,421		$	(53,831)		$	887,845
Reconciliation to income before income taxes:
Other income (expense)												(12,891)
Income before income taxes											$	874,954

Amortization of identifiable intangible assets		$	42,857		$	16,575		$	—		$	59,432
Depreciation expense		$	36,545		$	7,361		$	1,008		$	44,914
Capital expenditures		$	72,179		$	15,419		$	1,215		$	88,813


		Aggregate
	No. of	Contract Price
Contract Price of Project	Projects	(in millions)
Under $2 million	8,022	$	1,874.7
$2 million - $10 million	804		3,590.3
$10 million - $25 million	247		3,976.4
$25 million - $50 million	174		6,065.7
Greater than $50 million	152		20,399.4
Total	9,399	$	35,906.5


				Incorporated by Reference to the Exhibit Indicated Below and to the Filing with the Commission Indicated Below
Exhibit Number		Description of Exhibits		Exhibit Number		Filing or File Number
3.1		Second Amended and Restated Certificate of Incorporation of the Registrant		3.1		333-24021
3.2		Certificate of Amendment dated May 21, 1998		3.2		1998 Form 10-K
3.3		Certificate of Amendment dated July 9, 2003		3.3		2003 Form 10-K
3.4		Certificate of Amendment dated May 20, 2016		3.1		May 20, 2016 Form 8-K
3.5		Amended and Restated Bylaws of Comfort Systems USA, Inc.		3.1		March 25, 2016 Form 8-K
31.1*		Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*		Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**		Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2**		Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*		Inline XBRL Instance Document
101.SCH*		Inline XBRL Taxonomy Extension Schema Document
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase
104		Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document)


	Comfort Systems USA, Inc.

October 22, 2026	By:	/s/ Brian E. Lane
		Brian E. Lane
		Chief Executive Officer and Director

October 22, 2026	By:	/s/ William George
		William George
		Executive Vice President and Chief Financial Officer

October 22, 2026	By:	/s/ Julie S. Shaeff
		Julie S. Shaeff
		Senior Vice President and Chief Accounting Officer


Date: October 22, 2026	/s/ Brian E. Lane
	Brian E. Lane Chief Executive Officer


	/s/ William George
Date: October 22, 2026	William George Executive Vice President and Chief Financial Officer