Welcome to our dedicated page for Limbach Holdings news (Ticker: LMB), a resource for investors and traders seeking the latest updates and insights on Limbach Holdings stock.
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, 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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