LMB
Limbach Holdings, Inc.81.33
+2.24+2.83%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
945.61MP/E (TTM)
26.84Basic EPS (TTM)
3.03Dividend Yield
0%Recent Filings
8-K
8-K
10-Q
8-K
Limbach acquires Pioneer Power
Limbach Holdings closed its acquisition of Pioneer Power on July 1, 2025, for $66.1 million using cash and $40 million in revolver borrowings, expanding into the Upper Midwest with a firm focused on industrial mechanical services for mission-critical facilities. This bolsters Limbach's Owner Direct Relationships model, adding blue-chip customers and aligning with its ODR shift. PPI should contribute $120 million in revenue and $10 million in Adjusted EBITDA in FY 2026. Integration kicks off cautiously.
10-Q
Q2 FY2025 results
Limbach Holdings posted solid Q2 results, with revenue climbing 16.4% year-over-year to $142.2M, fueled by 31.7% growth in the higher-margin Owner Direct Relationships segment to $108.9M, while General Contractor Relationships dipped 15.7% to $33.3M amid a strategic mix shift. Gross profit rose 18.9% to $39.8M, lifting the margin to 28.0% from 27.4%, thanks to selective project picks and fewer write-downs. Operating income hit $10.6M, up from $8.2M, with diluted EPS at $0.64 versus $0.50; the EPS aligns with 12.1M diluted shares. Cash stood at $38.9M, with $84.9M revolver availability under the expanded $100M facility maturing 2030, and free cash flow (derived) of $1.2M after $3.1M capex. Recent buys like Kent Island (closed Sep 2024 for $15.0M cash, $5.6M goodwill) and Consolidated Mechanical (Dec 2024 for $23.0M cash, $11.1M goodwill) bolstered industrial reach, while July's $66.1M Pioneer Power deal adds Midwest muscle. Yet competition in the sector keeps pressure on bids.
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