Building systems solutions provider Limbach's Q3 revenue beats estimates on acquisitions

Limbach Holdings

04/11/2025 22:38

Overview

Limbach Q3 revenue grows 37.8% yr/yr, beating analyst expectations

Adjusted EBITDA for Q3 rises 25.6%, reflecting strategic focus on ODR

Company reaffirms FY 2025 revenue guidance of $650 mln to $680 mln

Outlook

Limbach reaffirms FY 2025 revenue guidance of $650 mln to $680 mln

Company expects full-year ODR organic revenue growth of 20% to 25%

Limbach revises gross margin outlook due to Pioneer Power revenue

Result Drivers

ODR REVENUE GROWTH - ODR revenue increased 52.0%, driven by strategic focus on higher margin business, now 76.6% of total revenue

ACQUISITIONS - Revenue growth primarily due to acquisitions, with Pioneer Power exceeding expectations

MARGIN IMPACT - Lower gross margins due to Pioneer Power's current margin profile, with plans to improve

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$184.58 mln
$184.48 mln (4 Analysts)
Q3 Net Income
$8.78 mln
Q3 Gross Profit
$44.68 mln
Q3 Operating Expenses
$31.34 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for Limbach Holdings Inc is $129.50, about 27.8% above its November 3 closing price of $93.45

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 36 three months ago

Press Release: ID:nBw1fJ3mna

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)