Limbach Hldgs Inc Stock Price, News & Analysis

Limbach Holdings, Inc. (Nasdaq: LMB) has appointed Jody Reilly as Vice President of Healthcare, effective immediately. Reilly brings 17 years of experience in healthcare operations, most recently serving as Vice President of Facilities Management at Quorum Health. His expertise includes overseeing hospital systems, managing construction projects, and developing infrastructure budgets. Limbach aims to leverage Reilly's skills to enhance its Owner-Direct Services and technology platform for healthcare clients, addressing complex infrastructure issues to improve patient care.

Limbach Holdings, Inc. (LMB) reported robust financial results for the year ending December 31, 2020, showcasing a revenue increase of 2.7% to $568.2 million despite pandemic challenges. Notably, net income surged to $5.8 million from a loss of $1.8 million, with Adjusted EBITDA rising 49.9% to $25.1 million. Gross margin improved by 130 basis points to 14.3%, driven by better project execution. However, backlog decreased to $444.4 million, indicating potential future challenges. The company anticipates reducing cash interest expenses by $4.0 million in 2021 due to successful refinancing.

Limbach Holdings, Inc. (NASDAQ: LMB) announced it will release its fourth quarter and full year 2020 financial results on March 25, 2021, after the market closes. A conference call for investors and analysts is scheduled for March 26, 2021, at 9:00 a.m. EDT, featuring CEO Charlie Bacon and CFO Jayme Brooks. Participants can join via domestic dial-in at 866-604-1698 or international at 201-389-0844. The call will also be webcast live on Limbach's website, providing an opportunity for stakeholders to engage with the company's leadership.

Limbach Holdings, Inc. (Nasdaq: LMB) has entered into new credit agreements worth $55 million, including a $25 million revolving credit facility and a $30 million term loan, aimed at refinancing existing debt and reducing the cost of capital. The new terms will lower cash interest expenses by approximately $4 million in fiscal 2021. The revolving credit facility allows for up to $25 million to support working capital, with reduced interest rates dependent on achieving a senior leverage ratio below 1.00:1. Total funded indebtedness now stands at $30 million.

Limbach Holdings, Inc. (Nasdaq: LMB) has successfully closed its public offering of common stock on February 12, 2021, selling 1,783,500 shares and raising approximately $20 million in net proceeds. The funds are intended to support key initiatives in 2021, including investments in digital transformation and growth capital. Lake Street Capital Markets served as the sole book-runner, while additional financial advisors included Littlebanc Advisors, LLC and Roth Capital Partners. The offering was conducted under a shelf registration statement effective since August 6, 2019.

Limbach Holdings (Nasdaq: LMB) has priced its underwritten public offering of 1,783,500 shares at $12.00 each, aiming for gross proceeds of approximately $21.4 million. The offering includes a 30-day option for underwriters to purchase an additional 267,525 shares. The funds will support general corporate purposes, including working and growth capital. The offering is set to close on February 12, 2021, subject to standard conditions. Lake Street Capital Markets LLC is the sole book-runner.

Limbach Holdings plans to offer common stock in an underwritten public offering, with an option for underwriters to purchase an additional 15% of shares. The offering is subject to market conditions and aims to provide funds for general corporate purposes, including working and growth capital. The company employs over 1,700 individuals across 22 U.S. offices, focusing on HVAC and building infrastructure services. Lake Street Capital Markets is the sole book-runner for this offering.

Limbach Holdings, Inc. (NASDAQ: LMB) has appointed Melissa DiMuro as the Chief People & Culture Officer, effective immediately. With 18 years of experience, primarily in human capital leadership at GE Aviation, DiMuro is poised to enhance Limbach's Owner Direct & Service business and technology platform. CEO Charlie Bacon emphasized the importance of recruiting and retaining skilled labor, citing DiMuro's experience as crucial for the company's evolving business model. Limbach aims to meet industry challenges while maintaining leadership in safety and technical capability.

Limbach Holdings, Inc. (NASDAQ: LMB) announced that CEO Charlie Bacon will present at NobleCon17 on January 19th at 12:45 PM EST. This conference will be held virtually, free of charge. A recorded video of the presentation will be available on their website the next day and will also be rebroadcast on Channelchek next month. Limbach, which had a revenue of $553.3 million in 2019, specializes in integrated building systems solutions, predominantly serving commercial and institutional clients across various sectors.