Limbach Holdings, Inc. provides building systems solutions for mission-critical mechanical, electrical, plumbing and controls systems. The company designs, delivers and maintains MEPC infrastructure for building owners and operators in healthcare, industrial and manufacturing, data centers, life sciences, higher education, and cultural and entertainment markets.
Limbach news commonly centers on quarterly results, revenue mix between Owner Direct Relationships and General Contractor Relationships, acquisition contributions such as Pioneer Power, major project activity, capital allocation, executive leadership roles and investor conference participation. Updates also track the company’s emphasis on owner-direct customer relationships and recurring service needs for complex facilities.
Limbach Holdings (Nasdaq: LMB), a building systems solutions firm, has announced the release of its second quarter 2024 financial results. The company will disclose the results after the stock market closes on Tuesday, August 6, 2024. Following this, Limbach will host a conference call for investors and analysts on Wednesday, August 7, 2024, at 9:00 a.m. ET.
Interested parties can participate in the conference call through domestic (866-682-6100) or international (862-298-0702) dial-in numbers. Additionally, the call will be webcast live on the 'Investor Relations' section of Limbach's website. An audio replay of the call will be made available on the company's website for those unable to attend the live event.
Limbach Holdings has elected David Gaboury to its Board of Directors, expanding the board to seven members, six of whom are independent. Gaboury brings over 40 years of engineering experience, notably as the former CEO of Terracon, where he significantly boosted revenues. He replaces Norbert W. Young, who retired after nearly eight years. Joshua S. Horowitz will become Chairman of the Board in June 2024, succeeding Gordon G. Pratt, who will remain as Chairman Emeritus. New leadership roles include Linda G. Alvarado heading the Nominating & Governance Committee and Michael F. McNally leading the Compensation Committee. These shifts aim to leverage the extensive expertise of the board members to support Limbach's strategic growth.
Limbach Holdings announced that its President and CEO, Michael McCann, will participate in the Stifel Cross Sector Insight Conference in Boston. The event is scheduled for June 4-5, where McCann will host one-on-one meetings with investors. Investors interested in meeting him should contact the conference organizers at stifelcorporateevents@stifel.com.
Limbach Holdings, Inc. (Nasdaq: LMB) reported first quarter 2024 results, showing a 26.5% increase in quarterly revenue from Owner Direct Relationships (ODR) segment. ODR accounted for 62.4% of revenue and 71.3% of consolidated gross profit. The company achieved a record quarterly consolidated gross margin of 26.1%, with quarterly net income up 153.5% to $7.6 million. Adjusted EBITDA also rose by 35.4% year-over-year. Limbach's management is optimistic about the growth potential of the ODR business segment, increasing Adjusted EBITDA guidance to $51-55 million for the year and projecting a full-year Adjusted EBITDA Margin of 9.6% to 10.8% based on total revenue of $510-530 million.
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