We recently published two company-specific notes for our institutional subscribers looking at the economics of modular and how modular capex translates to incremental capacity. For Comfort Systems (https://t.co/nQh2lQAAHy ), we asked how large its modular business could become under the current capex plan—and whether demand and returns justify going much bigger. For Quanta Services (https://t.co/K3grRHZg9Y)/Cupertino Electric, we looked at what AWS is shifting from on-site installation to factory-built Project Houdini skids, then sized the revenue opportunity as the program scales. (3/4)