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 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.
Limbach Holdings, Inc. (NASDAQ: LMB) announced its participation in the 14th Annual LD Micro Main Event on October 13, 2021, at 9:30 AM PT in Los Angeles. Executive Vice President Matt Katz will present, with opportunities for 1x1 meetings throughout the day. The event will take place from October 12 to 14, featuring around 150 companies and keynotes. Limbach specializes in integrated building systems, focusing on HVAC and related services across several sectors such as healthcare and education.
Limbach Holdings, Inc. (NASDAQ: LMB) has announced a growing demand for its HVAC services in the cannabis and indoor farming sectors, securing various contracts across multiple states. The company plans to showcase its capabilities at MJBizCon in October 20-21 in Las Vegas, NV. CEO Charlie Bacon highlighted Limbach's increasing market presence and emphasis on expanding its owner direct revenues, particularly in the rapidly evolving indoor agriculture market.