Legence Corp. provides engineering, consulting, installation, and maintenance services for mission-critical building systems. Company updates focus on complex HVAC, process piping, and MEP work for new facilities, as well as upgrades to HVAC, lighting, and building controls in existing facilities.
Recurring announcements cover quarterly and annual results, backlog and awarded contracts, segment activity in Installation and Maintenance and Engineering and Consulting, and demand from technically demanding end markets such as data centers and technology, life sciences, healthcare, education, and government. Legence news also includes secondary offerings of Class A common stock by selling stockholders, shareholder voting matters, governance updates, and capital-structure disclosures.
Legence (LGN) reported third-quarter 2026 revenue of $1.31 billion, alongside higher earnings and increased full-year guidance for revenue and adjusted EBITDA.
Revenue rose 85.1% year over year; growth excluding Bowers was 39.5% on a non-GAAP basis. Net income attributable to Legence reached $89.6 million, or $1.15 per diluted share, versus a $0.6 million loss. Adjusted EBITDA, a non-GAAP earnings measure, rose 99.3% to $177.0 million. Backlog and awarded contracts reached $5.90 billion. Engineering & Consulting revenue declined 5.8%.
Legence raised 2026 revenue guidance to $4.87–$4.91 billion and adjusted EBITDA guidance to $610–$620 million. Its initial 2027 outlook calls for $5.3–$5.6 billion and $690–$730 million, respectively. The board authorized a $150 million buyback. Legence completed its Central Texas Industrial Contractors acquisition on November 1, 2026.
Legence (Nasdaq: LGN) will release its third-quarter 2026 results before the market opens on November 12, 2026. The results cover the quarter ended September 30, 2026. An earnings call and webcast will follow at 10:00 am EST to review results and operations. The listen-only webcast and accompanying slides will be accessible on the company’s investor website, with a replay available through December 12, 2026.
Blackstone (BX) announced the final close of Blackstone Energy Transition Partners V at $8.7 billion, reaching the fund’s hard cap.
The oversubscribed fund is more than 50% larger than its predecessor. Its investment period began in June, and it has funded Kindle, Fisterra and Viridon to develop and operate power generation and electric transmission lines. It also acquired Flow Control Holdings, Dresser Utility Solutions and DarkVision, focusing on energy efficiency and resiliency.
BETP’s energy transition investments generated a 34% net internal rate of return, an investment performance measure, since 1997 as of June 30. Since January 2025, BETP has committed over $11 billion in new equity investments across the energy transition ecosystem.
Legence (Nasdaq: LGN) reported second quarter 2026 revenue of $1.26 billion, up 110.7% year over year. Excluding the Bowers acquisition, non-GAAP revenue grew 60%. Non-GAAP Adjusted EBITDA rose 114.1% to $154.6 million, while consolidated gross margin declined to 17.4% from 21.5%.
The company recorded a net loss attributable to Legence of $27.8 million (diluted loss per share $0.37), compared with a $5.3 million loss a year earlier, including goodwill and long-lived asset impairments totaling about $41.1 million. Total backlog and awarded contracts reached a record $5.67 billion, up 104.6% year over year, with a consolidated book-to-bill ratio of 1.2x. Legence ended the quarter with $292 million in cash and $1.03 billion of total debt, implying net leverage of 1.6x (1.5x including Bowers EBITDA).
Legence issued third quarter 2026 guidance for revenue of $1.225–$1.275 billion and non-GAAP Adjusted EBITDA of $150–$160 million, and raised full-year 2026 guidance to revenue of $4.7–$4.8 billion and non-GAAP Adjusted EBITDA of $565–$585 million.
Legence (Nasdaq: LGN) plans to release its financial results for the second quarter ended June 30, 2026 on Thursday, August 13, 2026, before the market opens. The company will host an earnings conference call and live listen-only webcast the same day at 10:00 a.m. EST, accessible via its investor relations website, where a slide presentation will also be available.
A replay of the webcast will be provided on the same site using the original link and will remain accessible until September 13, 2026.
Legence (Nasdaq: LGN) announced improved pricing on its $995 million term loan after a credit rating upgrade. On June 5, 2026, S&P Global Ratings raised the issuer rating to BB- from B+ with a positive outlook. A prior credit agreement amendment enabled a 25 basis point pricing cut plus another 25 basis points upon a ratings upgrade. Pricing on the term loan has now declined to SOFR + 1.75%, reducing interest expense on this large facility.
Legence (Nasdaq: LGN) amended its $995 million term loan, cutting the interest margin to SOFR + 2.00%, a 25-basis-point reduction. The margin may drop further to SOFR + 1.75% after a one-notch credit rating upgrade. The amendment also resets six-month 101% soft call protection on certain repricing transactions.
Legence (Nasdaq: LGN) reported first quarter 2026 revenue of $1.04 billion, up 105% year over year, with non-GAAP revenue excluding Bowers up 57%. Net income attributable to Legence was $16.1 million versus a prior-year loss, and non-GAAP adjusted EBITDA rose 132% to $118.1 million.
Backlog and awarded contracts reached a record $5.38 billion with a 1.2x book-to-bill ratio. Legence guided Q2 2026 revenue to $1.05–$1.1 billion and raised full-year 2026 revenue guidance to $4.1–$4.3 billion and non-GAAP adjusted EBITDA to $470–$490 million.
Legence (Nasdaq: LGN) will release first-quarter 2026 results for the period ended March 31, 2026 on Thursday, May 14, 2026, before market open. The company will hold an earnings conference call and live listen-only webcast at 10:00 am ET the same day.
The webcast link, slide presentation, and a replay (available through June 14, 2026) are accessible via the company investor website.
Legence (Nasdaq: LGN) closed an upsized secondary underwritten public offering on April 9, 2026, in which selling stockholders affiliated with Blackstone sold 15,394,112 shares of Class A common stock at $54.00 per share, including the full exercise of the underwriters’ option to buy an additional 2,007,927 shares.
Legence did not sell shares in the offering and did not receive proceeds. The offering was made from a Registration Statement on Form S-1 declared effective by the SEC; Goldman Sachs, Jefferies and BofA served as joint lead managers.