Limbach Hldgs Inc Stock Price, News & Analysis

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.

Limbach Holdings, Inc. (NASDAQ: LMB) will present at the 13th annual LD Micro Main Event investor conference on December 14th, at 9:20 AM PST/12:20 PM EST. Executive Vice President Matt Katz will address a virtual audience. This year’s Main Event introduces a unique format, featuring 10-minute presentations followed by a Q&A session with investors and analysts. The conference will take place on the Sequire Virtual Events platform and aims to engage both executives and investors. For further details, register here.

Limbach Holdings, Inc. (NASDAQ: LMB) announced participation in Sidoti & Company’s Virtual Microcap Conference 2020. Executive VP Matt Katz will present on November 19 at 2:30 PM EDT and be available for virtual one-on-one meetings. The presentation webcast is accessible on Limbach’s investor relations webpage.

In 2019, Limbach reported revenue of $553.3 million, focusing on integrated building systems solutions for commercial clients, particularly in healthcare and education sectors. The company employs over 1,700 staff across 22 offices in the U.S.

Limbach Holdings reported a 10.6% increase in revenue for Q3 2020, totaling $163.9 million compared to the same period last year. Gross margin improved to 14.8%, up 235 basis points, leading to a net income of $2.5 million and Adjusted EBITDA of $8.8 million, more than double last year's figure. Despite revenue growth in its Construction and Service segments, total backlog decreased to $469.3 million. The company raised its Adjusted EBITDA guidance to $23-26 million while maintaining revenue guidance of $560-600 million.