LGN
Legence Corp.41.92
+1.08+2.64%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Backlog elongates, no supply snags
Q&A largely reaffirmed the blowout Q4 beat and raised 2026 guidance, adding color on data center durability. No supply chain delays as hyperscalers plan materials far ahead. Backlog elongating from bigger projects; half burns in 2026, with chunks into 2028. Fabrication-only now mid-teens of I&M revenue, lifting margins via execution gains. Non-DC shows biotech lab green shoots, education steady. Management dodged specifics on new vs. existing clients. Confident tone intact; investors watch conversion, fab ramp.
Key Stats
Market Cap
4.42BP/E (TTM)
-Basic EPS (TTM)
-0.13Dividend Yield
0%Recent Filings
8-K
Q4 revenues up 35%, backlog soars
Legence crushed Q4 2025 with revenues soaring 34.6% to $737.6M and Adjusted EBITDA jumping 53% to $87.0M, fueled by data centers and life sciences demand. Backlog hit record $3.7B, up 49%, with 1.9x book-to-bill. Record backlog powers growth. Closed Metrix acquisition for $30M on March 1, 2026; raised 2026 guidance to $3.7B-$3.9B revenue, $400M-$430M Adjusted EBITDA.
8-K
Legence completes Bowers acquisition
Legence closed its acquisition of The Bowers Group on January 2, 2026, for ~$325M cash and 2,551,672 Class A shares, funded by $200M incremental term loans, revolver draws, and cash on hand. Bowers brings 40+ years of mechanical contracting expertise to DC Metro clients. $50M deferred consideration due December 31, 2026, in cash or stock at Legence's option.
8-K
Legence adds experienced director
Legence Corp. expanded its board from five to six directors on December 3, 2025, appointing David J. Coghlan, ex-CEO of Watts Water Technologies, as a Class I director through 2026. He joins the Audit Committee and chairs Compensation, bringing expertise in strategy, growth, and operations. Board deems him independent. Standard director pay: $85,000 cash retainer, ~$150,000 RSUs.
8-K
Blackstone pledges 72% stake
Blackstone affiliates pledged 72% of Legence Corp.'s voting power—29M Class A shares, 47M Class B shares, and matching units—as collateral for $650M margin loans from Goldman Sachs, closed November 21, 2025. Default triggers lender foreclosure on these holdings. Blackstone controls the company. Legence isn't party to the loans.
10-Q
Q3 FY2025 results
Legence posted Q3 revenue of $708M, up 26.2% y/y, with Installation & Maintenance surging 35% on data center demand while Engineering & Consulting grew 9.5%. Gross profit climbed 24.9% to $148M (20.9% margin, down 0.2 pt), driving operating income up 38% to $37.2M; net income flipped to $0.4M from a loss, though Legence's share was a $0.6M loss after noncontrolling interests. Cash swelled to $176M on $162M operating cash flow (FCF $137M derived), post-IPO debt paydown to $797.8M term loan with $84.8M revolver availability. Revenue strong. But supply chain snarls linger.
APG
APi Group Corporation
39.19-0.12
ECG
Everus Construction Group, Inc.
89.22-0.35
EME
EMCOR Group, Inc.
624.56+0.47
EXPO
Exponent, Inc.
74.20-0.48
FLR
Fluor Corporation
42.86-0.48
IESC
IES Holdings, Inc.
447.35-6.08
J
Jacobs Solutions Inc.
133.95-1.57
MYRG
MYR Group, Inc.
218.18-2.33
TTEK
Tetra Tech, Inc.
34.15-0.29
WLGSF
Wang & Lee Group Inc.
0.00+0.00