Limbach Holdings beats Q1 revenue estimates, maintains FY revenue forecast

Limbach Holdings

05/05/2026 21:53

Overview

US building systems firm's Q1 revenue rose 4.3%, beating analyst expectations

Adjusted EPS for Q1 declined year-over-year

Company reaffirmed full-year 2026 revenue and adjusted EBITDA guidance

Outlook

Limbach reaffirms 2026 revenue guidance of $730 mln to $760 mln

Company maintains 2026 adjusted EBITDA forecast of $90 mln to $94 mln

Company expects margin improvement in 2026 as operational initiatives take effect

Result Drivers

ACQUISITION IMPACT - Revenue growth was primarily driven by the acquisition of Pioneer Power, which contributed a full quarter of revenue with no comparable contribution in the prior-year period

ORGANIC REVENUE DECLINE - Organic revenue fell due to lower bookings in mid-2025 and normal seasonal patterns among industrial customers

MARGIN PRESSURE - Gross margins declined due to lower fixed cost absorption, absence of higher net project write-ups from the prior year, and the lower margin profile of Pioneer Power

Company press release: ID:nBwbgPpQha

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$138.86 mln
$134.14 mln (5 Analysts)
Q1 Net Income
$4.38 mln
Q1 Gross Profit
$31.17 mln
Q1 Operating Expenses
$30.04 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "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 $115.00, about 12.4% above its May 4 closing price of $102.29

The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 24 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)