Air conditioner stocks have been some of the hottest investments over the past few years, and I think they’ll only get better from here. Now, many air conditioner stocks have seen a slight dip from their peaks recently. However, I think it makes sense to buy this near-term cooldown before the summer starts in full swing. I think these companies could post excellent earnings once again, as many parts of the country are seeing temperatures soar.

Naturally, this will lead to a lot of demand for air conditioner stocks. Last year was by far the best year for most of these companies, and some scientists warn there is a strong chance 2024 could beat 2023 as the warmest year on record. Thus, I think it makes sense to buy the following air conditioner stocks.

Comfort Systems USA (FIX)

Comfort Systems USA (NYSE:FIX) provides mechanical and electrical contracting services. The company is riding high on the mega trends of strong construction activity, especially in warmer climates, and the growing demand for modular solutions. I believe these tailwinds could propel FIX stock to new heights this summer.

In Q1 2024, Comfort Systems knocked it out of the park with a 31% revenue surge to $1.5 billion, trouncing estimates by nearly 5%. The company’s bottom line performance was even more impressive, with earrings per share of $2.69 crushing expectations by almost 30%. This company has a history of crushing estimates.

Same-store revenue growth clocked in at a scorching 23%, while the company’s electrical segment achieved record margins of 22.6%.

Importantly, the company also has a backlog of $5.9 billion, which is up on a year-over-year and sequential basis. Management expects at least mid-teens same-store revenue growth for the full year. But given the momentum, I wouldn’t be surprised to see high teens growth moving forward. FIX stock has already more than doubled over the past year, but I think there’s plenty of gas left in the tank for this air conditioning juggernaut to continue higher.

Trane Technologies (TT)

Trane Technologies (NYSE:TT) is a global leader in climate control solutions for buildings and homes. I believe the company is well-positioned to capitalize on powerful mega trends like energy efficiency, decarbonization, and digital transformation. As the urgency to address climate change intensifies, demand for Trane’s innovative solutions should continue to surge.

The company’s Q1 results were nothing short of stellar. Bookings hit an all-time high of over $5 billion, up 17% organically. Trane also trounced top-line estimates by nearly 5.6% while expanding adjusted operating margins by an impressive 230 basis points. This exceptional performance propelled adjusted earnings per share growth of 38%.

With TT stock already up 80% over the past year, Trane’s 1% dividend yield provides an attractive sweetener for investors. While there are debates about its valuation, I believe the company can see its valuation hold up as global heatwaves worsen. If the company’s management team continues to execute flawlessly, Trane appears poised to keep beating expectations and delivering market-beating returns.

AAON (AAON)

AAON (NASDAQ:AAON) makes premium commercial and industrial HVAC equipment. I believe AAON is poised to capitalize on several tailwinds that could propel the stock higher this summer. With their advanced fully electric heat pump technology and Alpha Class branded products, the increasing focus on electrification and the transition to lower GWP refrigerants plays right into AAON’s wheelhouse.

While most air conditioner stocks have held up relatively well, AAON remains an outlier, still down 16% from its highs. However, the stock appears to have bottomed and has already rebounded over 10% from the lows. Analysts see juicy upside from here.

Yes, AAON did miss Q1 estimates badly, with revenue of $262.1 million falling short by $22.7 million. But I expect the company to make a full recovery once the summer heat wave hits and demand surges. AAON’s order trends remain solid, with total backlog increasing for the second straight quarter. Plus, significant opportunities in the data center market provide additional upside potential.

With AAON strategically positioned from a pricing and product development standpoint, I anticipate a strong second-half rebound for the stock.

On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.