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) has announced the promotion of three senior management professionals to enhance its Owner-Direct Business. Jay Sharp has been appointed President of Limbach Company LLC, Limbach Company LP, and Jake Marshall LLC, bringing over 32 years of experience. Nick Angerosa remains President of Harper Limbach LLC and will also join the Senior Management Team. Melissa DiMuro is the new Chief People, Culture, and Marketing Officer, overseeing human capital strategy and branding. CEO Charlie Bacon emphasized the importance of employee growth within the company. Limbach specializes in integrated building systems solutions across various markets.
Limbach Holdings, Inc. announced that Michael M. McCann, currently COO, will become CEO effective March 29, 2023. He succeeds Charlie Bacon, who has led the company since 2004 and will remain on the Board until retirement at the 2023 annual meeting. McCann joined Limbach in 2010 and was promoted to COO in 2019, demonstrating strong leadership and industry respect. Jay Sharp is promoted to President of Limbach's operating entities, enhancing leadership continuity. This transition aims to sustain the company's momentum and employee commitment.
Limbach Holdings, Inc. (Nasdaq: LMB) reported Q3 2022 financial results showing consolidated revenue of $122.4 million, a 5.3% decrease from Q3 2021. The Owner Direct Relationships (ODR) segment revenue surged 52.2%, constituting 48.8% of total revenue. Gross margin improved to 20.3%, compared to 18.9% in the previous year, with adjusted EBITDA rising 25.7% to $10.2 million. Despite a decline in net income to $3.6 million, the company remains optimistic about meeting its tightened revenue and increased EBITDA guidance for 2022.
Limbach Holdings, Inc. (NASDAQ: LMB) will announce its third quarter 2022 financial results after the market closes on November 9, 2022. An earnings conference call will take place on November 10, 2022, at 9:00 a.m. ET. The call will feature executives including Charlie Bacon, President and CEO, and Jayme Brooks, CFO. Call participants can join via dial-in or through a webcast available on Limbach's website.
Limbach Holdings, Inc. (NASDAQ: LMB) has announced a new share repurchase program allowing up to $2.0 million in Common Stock to be repurchased. This initiative, approved by the Board of Directors, aims to enhance shareholder value and capitalize on potential buying opportunities over its one-year term, set to expire on September 29, 2023. The repurchase may occur through various methods and will be funded from cash, cash flow, or borrowing, depending on market conditions. The exact number of shares is not guaranteed, and the program can be modified or halted at any time.
Limbach Holdings, Inc. (Nasdaq: LMB) will participate in The Windy City Roundup hosted by MicroCap Rodeo on October 13 at the Swissotel Chicago. CEO Charlie Bacon will present at 11:00 am CT and will be available for one-on-one meetings throughout the event. The MicroCap Rodeo aims to connect investors with over 50 microcap companies, providing insights into key value drivers and trends for 2023. Investors can check Limbach’s Investor Relations website for updates and webcast links.
Limbach Holdings, Inc. (Nasdaq: LMB) announced its participation in Lake Street’s 6th Annual Best Ideas Growth Conference on September 14 at the Yale Club in New York City. CEO Charlie Bacon and EVP Matt Katz will be available for one-on-one meetings throughout the event. This year’s event will feature leading public companies paired with institutional investors for in-depth discussions. Limbach is recognized for its expertise in integrated building systems, including HVAC, plumbing, and electrical services, with a focus on various sectors across the U.S.
Limbach Holdings, Inc. (Nasdaq: LMB) reported Q2 2022 results showing a consolidated revenue of $116.1 million, down 4.0% year-over-year. The Owner Direct Relationships (ODR) segment revenue surged 48.7%, contributing 42.9% of total revenue. Net income increased to $0.9 million, an 18.3% rise, and Adjusted EBITDA jumped 85.1% to $6.6 million. Despite a decrease in overall revenue, the gross margin improved to 18.4%. The company reaffirmed its FY 2022 guidance of $510-$540 million in revenue and $25-$29 million in Adjusted EBITDA.
Limbach Holdings, Inc. (NASDAQ: LMB) will release its Q2 2022 financial results on August 9, 2022, after market close. An earnings conference call is scheduled for August 10, 2022, at 9:00 a.m. ET. The call will feature key executives including Charlie Bacon (CEO) and Jayme Brooks (CFO). Investors can participate via a dial-in number or a webcast available on Limbach's website. Limbach specializes in integrated building systems solutions encompassing HVAC and plumbing systems for various markets.
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.