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.
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Limbach Holdings reported a strong performance for the year ended December 31, 2022, with consolidated revenue of $496.8 million, an increase of 1.3% from 2021. The Owner Direct Relationships (ODR) segment revenue surged by 63.7% to $216.4 million, contributing approximately 58.8% of consolidated gross profit. Net income for the year was $6.8 million with diluted EPS of $0.64. Adjusted EBITDA increased 36.5% to $31.8 million. Despite a decline in GCR segment revenue, Limbach plans to continue enhancing its customer-focused platform while maintaining a healthy balance sheet with $36.0 million in cash.
Limbach Holdings (NASDAQ: LMB) will announce its Q4 2022 financial results on March 8, 2023, after market closure. An earnings conference call for investors and analysts is scheduled for March 9, 2023, at 9:00 a.m. ET. Domestic callers can reach the company at 877-407-6176, while international callers can dial 201-689-8451. Additionally, the call will be available via webcast on Limbach's Investor Relations page. Limbach specializes in building systems solutions, including HVAC and plumbing, supporting sectors like healthcare and data centers with over 1,500 team members across the U.S.