Limbach Hldgs Inc Stock Price, News & Analysis

Limbach Holdings, Inc. (NASDAQ: LMB) has appointed Christos Ruci as Chief Information Officer, emphasizing its commitment to enhancing efficiency through technology. Mr. Ruci, who previously served as VP of Technology, will report to CFO Jayme Brooks and focus on driving the company's digital solutions and analytics strategy. This strategic move aligns with Limbach's Owner-Direct business model aimed at delivering increased value to customers and streamlining operations. The initiative is expected to improve decision-making processes and employee productivity.

Limbach Holdings, Inc. (Nasdaq: LMB) reported a 1.3% increase in consolidated revenue to $114.8 million for Q1 2022. The Owner Direct Relationships (ODR) segment saw a significant 50.3% rise in revenue, contributing 54.4% of consolidated gross profit. Gross margin improved to 16.0%, resulting in a $1.1 million increase in gross profit year-over-year. The company anticipates continued revenue growth, projecting FY 2022 revenues between $510 million and $540 million, with Adjusted EBITDA of $25 million to $29 million. Backlog rose to $447.6 million, indicating robust demand.

Limbach Holdings, Inc. (NASDAQ: LMB) announced it will release its first quarter 2022 financial results after market close on May 10, 2022. An earnings conference call will be held on May 11, 2022, at 9:00 a.m. ET, featuring executives including President Charlie Bacon and CFO Jayme Brooks. Investors can participate via phone or access a live webcast on the company’s website. Limbach offers integrated building systems solutions, specializing in HVAC, mechanical, electrical, and plumbing systems for diverse markets.

Limbach Holdings reported a net income of $6.7 million for FY 2021, an increase from $5.8 million in FY 2020. However, consolidated revenue fell 13.7% to $490.4 million. ODR segment revenue grew 10.3%, comprising 28.6% of total revenue and 47.1% of gross profit. Gross margins improved to 17.5%, up 320 basis points year-over-year. SG&A expenses rose to $71.4 million, while interest expenses decreased significantly to $2.6 million due to refinancing. The company expects continued focus on higher-margin ODR projects and a robust backlog of $435.2 million, with ODR backlog increasing by 92.5%.

Limbach Holdings, Inc. (NASDAQ: LMB) announced that CEO Charlie Bacon will attend the 34th Annual ROTH Conference on March 14-15, 2022. He will be available for one-on-one meetings during the event. This year’s conference features small group meetings, fireside chats, and thematic panels with approximately 400 companies across various sectors, including Blockchain, Healthcare, and Sustainability. Limbach specializes in integrated building systems, including HVAC and plumbing, with a nationwide presence of 22 offices.

Limbach Holdings, Inc. (NASDAQ: LMB) will announce its fourth quarter 2021 financial results on Wednesday, March 16, 2022, after market close. This will be followed by a conference call for investors on Thursday, March 17, 2022, at 9:00 a.m. ET. Key executives, including President Charlie Bacon and CFO Jayme Brooks, will host the call. Domestic callers can reach in at 866-604-1698, while international participants can call 201-389-0844. The call will also be available via webcast on Limbach's website.

Limbach Holdings, Inc. has acquired Jake Marshall, LLC for an enterprise value of $20 million in an all-cash transaction. The acquisition is expected to enhance Limbach's profitability and expand its market presence in the southeast, particularly in industrial and core institutional sectors. Jake Marshall has historically generated over $45 million in revenue annually, with EBITDA of $4.5 million.

Future cash consideration of up to $6 million may be paid based on performance metrics in 2022 and 2023.

Limbach Holdings reported a consolidated revenue of $129.2 million for Q3 2021, an increase of 6.7% from Q2 2021. The Owner Direct Relationships (ODR) segment revenue rose 17.6% year-over-year, comprising 48% of gross profit. Gross margins improved to 18.9%, driven by a shift to higher-margin ODR work. The Adjusted EBITDA guidance for 2021 remains between $23 million and $25 million, albeit at the lower end due to supply chain disruptions. Net income grew to $4.0 million, with diluted EPS at $0.38.

Limbach Holdings, Inc. (NASDAQ: LMB) announced it will release its third quarter 2021 financial results on November 10, 2021, after market close. A conference call will take place the next morning, November 11, 2021, at 9:00 a.m. ET, hosted by key executives including CEO Charlie Bacon and CFO Jayme Brooks. Domestic callers can dial 866-604-1698, while international callers can reach 201-389-0844. The event will be available via webcast on the company's website.