LMB
Limbach Holdings, Inc.81.33
+2.24+2.83%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Data centers, Pioneer details emerge
Q&A largely reaffirmed prepared remarks on 2026's 13-17% revenue growth and $90-94M adjusted EBITDA, but fleshed out data center momentum with a dedicated national team after Columbus successes and a fourth $10M project award. Management detailed Pioneer Power's phase two integration for H2 2026 margin lifts, targeting Jake Marshall-like gains to 28% by 2027-28. New execs sharpen local sales enablement and national accounts to drive 9-12% ODR organic growth. Bookings crushed Q4 revenue at 1.2x. Analysts grilled organic sustainability and M&A; responses were direct, no hedges. Watch H2 sales conversion.
Key Stats
Market Cap
945.61MP/E (TTM)
26.84Basic EPS (TTM)
3.03Dividend Yield
0%Recent Filings
8-K
Limbach smashes FY2025 records
Limbach Holdings crushed FY2025 with revenue up 24.7% to $646.8M, net income rising 26.5% to $39.1M, and adjusted EBITDA climbing 28.4% to $81.8M, fueled by Pioneer Power acquisition and ODR hitting 75.1% of sales. Gross margins dipped to 26.2% from Pioneer integration drag, yet cash from operations hit $45.7M. Records everywhere. Guides 2026 revenue $730M-$760M, adjusted EBITDA $90M-$94M.
10-K
FY2025 results
Limbach Holdings crushed FY2025 with record $646.8M revenue, up 24.7% y/y, driven by ODR segment exploding 40.6% to $485.7M (75.1% of total) on $58.8M organic growth plus $81.4M from Pioneer Power, Consolidated Mechanical, and Kent Island buys; GCR dipped 7.0% to $161.1M amid strategic mix-shift, yet margins leaped to 24.5% from 21.1%. Gross profit hit $169.3M (26.2% margin), diluted EPS climbed 25.7% to $3.23, and ops cash flowed $45.7M. ODR backlog swelled to $255.8M. Q4 momentum roared via Pioneer integration and ODR acceleration. New $50M buyback authorized. Backlog volatility threatens quarterly flow.
8-K
Dugan joins Limbach board
Limbach Holdings appointed Terence P. Dugan, a 40-year Trane veteran with deep HVAC expertise, as independent director effective January 1, 2026, expanding the board to seven and adding him to the Compensation Committee. Dugan's M&A and growth track record aligns with Limbach's priorities. Non-employee director pay rose: cash retainers to $75,000 ($80,000 for chair), equity to $120,000. Board strengthened overnight.
8-K
Authorizes $50M buyback
Limbach Holdings authorized a $50 million share repurchase program on December 15, 2025, allowing buys through December 15, 2027, via open market or private deals. This signals board confidence in growth and cash flow while offsetting incentive dilution. No purchases required. Program fully discretionary.
8-K
Q3 revenue surges 38%
Limbach Holdings crushed Q3 with revenue up 37.8% to $184.6 million, driven by Pioneer Power acquisition and 12.2% organic ODR growth; ODR now 76.6% of mix. Net income hit $8.8 million, Adjusted EBITDA $21.8 million—up 25.6%. Guidance holds: $650-680 million revenue, $80-86 million Adjusted EBITDA. Pioneer margins lag but integration targets alignment.
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