Limbach Q3 2026 revenue rises 24.9% to $231M

Management expects FY 2026 revenue and Adjusted EBITDA at or near the high end of guidance despite lower nine-month net income.

Available on EDGAR 11/03/2026 - 04:33 PM EST Accepted by SEC EDGAR 11/03/2026 - 04:33 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Limbach Holdings, Inc. (LMB) reported third-quarter 2026 revenue of $230.5 million, up 24.9% year over year. Organic operations added $26.6 million, and 1901 and CYMCOR contributed $19.3 million in acquisition-related revenue. Net income was $9.5 million, up 7.5%, and Adjusted EBITDA was $27.4 million, up 25.9%; gross margin was 23.4%, versus 24.2%.

For the first nine months, revenue rose 18.0% to $542.8 million, while net income fell to $18.6 million from $26.8 million and Adjusted EBITDA to $50.0 million from $54.6 million. Operating income declined 26.5% to $23.4 million. Operating cash flow was $31.2 million, compared with $17.6 million.

Quarter bookings were $311.2 million, with a 1.4x book-to-bill ratio. Limbach expects FY 2026 revenue of $760 million–$790 million and Adjusted EBITDA of $78 million–$84 million at or near the high end of guidance. It repurchased 194,788 shares at an average $51.31 per share. At September 30, cash was $29.1 million; PNC revolver and term-loan borrowings were $75.0 million and $50.0 million.

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Positive

• Moderate pointQ3 revenue rose 24.9% to $230.5 million.
• Moderate pointQ3 net income increased 7.5% to $9.5 million.
• Moderate pointQ3 Adjusted EBITDA rose 25.9% to $27.4 million.
• Moderate pointQ3 operating cash flow was $20.3 million, compared with $13.3 million.

Negative

• Moderate pointNine-month net income fell to $18.6 million from $26.8 million.
• Moderate pointNine-month Adjusted EBITDA fell to $50.0 million from $54.6 million.
• Moderate pointNine-month operating income declined 26.5% to $23.4 million.

Filing Explained

This 8-K furnishes quarterly results and an investor presentation; as of September 30, 2026, Limbach had about $125 million of remaining revolver capacity and a separate $50 million delayed-draw commitment still undrawn; both are borrowing capacity, not cash borrowed, and are subject to facility terms and covenants.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Q3 revenue: $230.5 million; up 24.9% year over year Q3 net income: $9.5 million; up 7.5% year over year Q3 Adjusted EBITDA: $27.4 million; up 25.9% year over year +5 more

8 metrics

Q3 revenue $230.5 million; up 24.9% year over year Three months ended September 30, 2026, compared with 2025

Q3 net income $9.5 million; up 7.5% year over year Three months ended September 30, 2026, compared with 2025

Q3 Adjusted EBITDA $27.4 million; up 25.9% year over year Three months ended September 30, 2026, compared with 2025

Q3 operating cash flow $20.3 million Compared with $13.3 million for Q3 2025

Q3 bookings $311.2 million Book-to-bill ratio was 1.4x

FY 2026 revenue guidance $760 million–$790 million Management expects results at or near the high end of the range

FY 2026 Adjusted EBITDA guidance $78 million–$84 million Management expects results at or near the high end of the range

Nine-month net income $18.6 million Compared with $26.8 million for the nine months ended September 30, 2025

Key Terms

Adjusted EBITDA, book-to-bill ratio, backlog, organic revenue, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA increased 25.9% to $27.4 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

book-to-bill ratio financial

"book-to-bill ratio is defined as bookings for the defined period divided by revenue"

The book-to-bill ratio compares the value of new orders a company receives to the value of products it ships out or bills for over a certain period. If the ratio is above 1, it means the company is getting more orders than it is completing, which can indicate growth. If it's below 1, it suggests demand is slowing down.

backlog financial

"backlog includes unexercised contract options"

A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.

organic revenue financial

"Organic revenue reflects the change in revenue from the Company's continuing operations"

Organic revenue is the sales a company generates from its regular business activities after stripping out extra effects like revenue added or lost from buying or selling other businesses and from currency swings. Think of it as measuring how much a store’s own customers increased spending, not growth from opening new stores or temporary price moves; investors use it to judge the true strength and sustainability of a company’s core demand.

free cash flow financial

"Free cash flow is defined as cash flow from operating activities excluding changes in working capital"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

Earnings Snapshot

Revenue: $230.5 million · Guidance included

Three months ended September 30, 2026

Revenue $230.5 million Up 24.9% year over year

Net income $9.5 million Up 7.5% year over year

Adjusted EBITDA $27.4 million Up 25.9% year over year

Net cash provided by operating activities $20.3 million Compared with $13.3 million in Q3 2025

Guidance

FY 2026 revenue of $760 million–$790 million and Adjusted EBITDA of $78 million–$84 million; management expects results at or near the high end of the ranges.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue did LMB report in Q3 2026?

LMB reported $230.5 million in revenue for the three months ended September 30, 2026, up 24.9% from $184.6 million in the prior-year quarter. Organic revenue increased $26.6 million, or 14.4%, while acquisition-related revenue was $19.3 million.

What is LMB's FY 2026 revenue and Adjusted EBITDA guidance?

Limbach's FY 2026 guidance is revenue of $760 million to $790 million and Adjusted EBITDA of $78 million to $84 million. Management said it was tracking at or near the high end of both ranges.

How many shares did LMB repurchase in Q3 2026?

Limbach repurchased 194,788 shares during the quarter at an average price of $51.31 per share; the cash flow statement reports $10.0 million of common-stock repurchases under the Share Repurchase Program.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false000160616300016061632026-11-032026-11-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 3, 2026

LIMBACH HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware			001-36541			46-5399422
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

5102 W Laurel Street, Suite 700, Tampa, Florida 33607

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (412) 359-2100

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common stock, $0.0001 par value			LMB			The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Item 2.02 Results of Operations and Financial Condition.

On November 3, 2026, Limbach Holdings, Inc. (the “Company”) issued a press release dated the same date announcing its financial results for the quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 7.01 Regulation FD Disclosure.

The Company is furnishing presentation materials (the “Investor Presentation”) that management intends to use, possibly with modifications, in one or more meetings from time to time with current and potential investors. The Investor Presentation includes an update on the Company’s current operations and major projects, as well as information relating to the Company’s strategic plans, goals, growth initiatives and outlook, and forecasts for future performance and industry development.

The foregoing description of the Investor Presentation does not purport to be complete and is qualified in its entirety by reference to the complete text of the Investor Presentation attached as Exhibit 99.2 to this Current Report on Form 8-K.

The information contained in the Investor Presentation is summary information that should be considered in the context of the Company’s filings with the Securities and Exchange Commission and other public announcements the Company may make by press release or otherwise from time to time. The Investor Presentation speaks as of the date of this report. While the Company may elect to update the Investor Presentation in the future to reflect events and circumstances occurring or existing after the date of this report, the Company specifically disclaims any obligation to do so.

By furnishing the portions of this Current Report on Form 8-K that are disclosed under this Item 7.01 and the Investor Presentation that is an exhibit hereto, the Company makes no admission as to the materiality of any information included under this Item 7.01, including without limitation the Investor Presentation. The Investor Presentation contains forward-looking statements. See Page 2 of the Investor Presentation for a discussion of certain forward-looking statements that are included therein and the risks and uncertainties related thereto.

The information in this Item 7.01 of this Current Report on Form 8-K and Exhibit 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.						Description
99.1						Earnings Press Release for the quarter ended September 30, 2026 dated November 3, 2026
99.2						Investor Presentation
104						Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			LIMBACH HOLDINGS, INC.
			By:			/s/ Jayme L. Brooks
						Name: Jayme L. Brooks
						Title: Executive Vice President and Chief Financial Officer

Dated: November 3, 2026

FOR IMMEDIATE RELEASE

Limbach Reports Third Quarter 2026 Results

Expects Full-Year 2026 Revenue and Adjusted EBITDA to be At or Near the High End of Guidance

TAMPA, Fla. – November 3, 2026 – Limbach Holdings, Inc. (Nasdaq: LMB) (“Limbach” or the “Company”), a building systems solutions firm that partners with building owners and operators who have mission-critical mechanical, electrical, plumbing, and controls, or MEPC, systems today announced its financial results for the quarter ended September 30, 2026.

Third Quarter 2026 Highlights

(Comparisons to Third Quarter 2025 where appropriate)

•Record total revenue increased 24.9% to $230.5 million from $184.6 million

•Owner Direct Relationships (“ODR”) revenue increased 6.6%, or $9.3 million, to $150.7 million, or 65.4% of total revenue

•Total bookings during the quarter were $311.2 million, generating a book-to-bill ratio of 1.4x

•Total gross profit increased 20.5% to $53.8 million, compared to $44.7 million

•Net income of $9.5 million, or $0.79 per diluted share, compared to $8.8 million, or $0.73 per diluted share

•Adjusted net income of $16.4 million, or $1.37 per adjusted diluted earnings per share, compared to adjusted net income of $12.7 million, or $1.05 per adjusted diluted earnings per share

•Record adjusted EBITDA increased 25.9% to $27.4 million, compared to $21.8 million

•Net cash provided by operating activities of $20.3 million compared to $13.3 million

Management Comments

“Our third-quarter results reflect improving customer activity and a return to organic growth in our owner-direct business,” said Michael McCann, President and Chief Executive Officer of Limbach. “We believe some of the project timing issues we discussed earlier this year are beginning to ease, giving us a clearer view of the work ahead. With the improvement in our core business and contributions from two acquisitions completed during the quarter, CYMCOR, Inc. (“CYMCOR”) and 1901 Inc. (“1901”), we are tracking at or near the high end of our revenue and Adjusted EBITDA guidance ranges.

“Our strategy remains centered on deepening customer relationships and delivering consistent project performance. CYMCOR and 1901 broaden our geographic reach and technical expertise, building on our healthcare and industrial foundation while adding opportunities in data centers, life sciences and advanced manufacturing. We are focused on integrating these businesses and converting customer activity into earnings and cash flow. Our financial flexibility supports continued investment in the business as we look toward 2027, with the same discipline in the work we pursue and the capital we commit.”

Financial Review

The following are results for the three months ending September 30, 2026, compared to the three months ending September 30, 2025:

•Total revenue increased 24.9%, or $45.9 million, to $230.5 million from $184.6 million. Revenue generated from the Company’s organic operations increased by $26.6 million, or 14.4%, driven by project commencements and execution within its existing backlog. The Company expects continued execution of its backlog, together with anticipated new bookings, to support further organic revenue growth during the remainder of 2026. The increase in revenue was also attributable to 1901 and CYMCOR, which were acquired during the third quarter of 2026, and contributed revenue in the current period with no comparable contribution in the prior-year period. Of the total increase in revenue, acquisition-related revenue represented 10.5% of total revenue, or $19.3 million.

◦ODR segment revenue increased 6.6%, or $9.3 million, to $150.7 million. Acquisition-related ODR revenue increased 4.4%, or $6.2 million, while organic ODR revenue increased by 2.2%, or $3.1 million.

◦General Contractor Relationships (“GCR”) segment revenue increased 84.7%, or $36.6 million, to $79.8 million. Organic GCR revenue increased 54.4%, or $23.5 million, while acquisition-related GCR revenue increased 30.4%, or $13.1 million.

•Total gross profit increased 20.5% to $53.8 million compared to $44.7 million. Total gross margin was 23.4%, compared with 24.2%.

◦ODR gross profit increased 7.1%, or $2.5 million, to $38.2 million from $35.7 million, while gross margin increased slightly to 25.4% from 25.2%.

◦GCR gross profit increased 73.6%, or $6.6 million, to $15.6 million from $9.0 million, while gross margin decreased slightly to 19.6% from 20.8%.

Gross margin percentage reflected the quarter’s revenue mix, including a higher proportion of GCR revenue, which typically carries lower gross margins than ODR revenue. Segment gross margins also reflected the contribution from certain recently acquired businesses that currently operate at lower gross margin profiles than Limbach’s historical levels. These businesses continue to perform in line with the Company’s integration expectations, and management is implementing operational and pricing initiatives to improve profitability, with the goal of bringing their gross margins closer to the Company’s historical averages over the next two to three years.

•Selling, general and administrative (“SG&A”) expense increased by approximately $6.3 million to $34.6 million, compared to $28.3 million in the prior year period. The increase was primarily driven by a $1.2 million aggregate increase in SG&A expense associated with the 1901 and CYMCOR acquisitions, a $2.8 million increase in professional services expense due to the 1901 and CYMCOR acquisitions and a $2.7 million increase in payroll related expenses, partially offset by a $0.4 million decrease in stock-based compensation expense. SG&A expense as a percentage of revenue decreased to 15.0% for the three months ended September 30, 2026, compared to 15.3% for the three months ended September 30, 2025.

•Interest expense of $1.2 million was relatively flat period-over-period.

•Interest income increased slightly to $0.1 million compared to the prior year period, primarily due to higher average cash and cash equivalent balances and higher yields on investments.

•Net income increased 7.5% to $9.5 million from $8.8 million. Diluted earnings per share was $0.79 compared to $0.73 in the prior year period.

•Adjusted net income increased 29.0% to $16.4 million compared to $12.7 million. Adjusted diluted earnings per share was $1.37 compared to $1.05 in the prior year period.

•Adjusted EBITDA increased 25.9% to $27.4 million compared to $21.8 million in the prior year period.

•Net cash provided by operating activities was $20.3 million compared to $13.3 million in the prior year period.

Balance Sheet

On September 30, 2026, cash and cash equivalents were $29.1 million. Current assets were $302.1 million and current liabilities were $196.7 million, representing a current ratio of 1.54x compared to 1.44x at December 31, 2025.

As of September 30, 2026, the Company had $75.0 million in borrowings outstanding under the PNC Revolving Credit Facility and $50.0 million outstanding under the PNC Term Loan Facility. After giving effect to outstanding borrowings, approximately $125.0 million, remained available under the PNC Revolving Credit Facility. No borrowings were outstanding under the PNC Delayed Draw Term Loan Facility, and its $50.0 million commitment remained undrawn. Available amounts under both facilities are subject to reduction in accordance with their respective terms and conditions, including compliance with applicable covenants.

The Company intends to deploy free cash flow to continue to reduce its borrowings under its revolving credit facility for the remainder of the year.

2

2026 Guidance

The Company is updating its FY 2026 guidance to reflect its current operating environment, which includes contributions from the recently completed CYMCOR and 1901 acquisitions.

Current

Revenue

$760 million - $790 million

Expects to be at or near the high end of the range

Adjusted EBITDA

$78 million - $84 million

Assumptions:

Total organic revenue growth(1)

9 - 14%

ODR revenue as a percentage of total revenue

70 - 80%

ODR organic revenue growth(1)

6 - 10%

Gross margin percentage

23 - 24%

SG&A expense as a percentage of total revenue

15 - 16%

Free cash flow(2)

75% of Adjusted EBITDA

(1)    The Company discloses organic revenue and organic revenue growth, which are non-GAAP financial measures, to provide investors with insight into the performance of the Company's existing operations, excluding the impact of acquisitions. These measures are not defined under GAAP and should not be considered as an alternative to total revenue growth or segment-related revenue growth as determined in accordance with GAAP. Refer to additional information under the heading “Supplemental Revenue Disclosures” at the end of this release regarding certain non-GAAP supplemental revenue disclosures.

(2)    Free cash flow is defined as cash flow from operating activities excluding changes in working capital minus capital expenditures (excluding investment in rental equipment).

With respect to projected 2026 Adjusted EBITDA guidance, Adjusted EBITDA Margin and free cash flow (and the assumptions underlying those projections), a quantitative reconciliation is not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to certain items, which are excluded from Adjusted EBITDA and free cash flow (and components that go into the calculation of Adjusted EBITDA). The Company expects the variability of these items to have a potentially unpredictable, and potentially significant, impact on future financial results.

Conference Call Details

Date:			Wednesday, November 4, 2026
Time:			9:00 a.m. Eastern Time
Participant Dial-In Numbers:
Domestic callers:			(877) 407-6176
International callers:			1 (201) 689-8451

Access by Webcast

The call will be simultaneously webcast over the Internet via the “Investor Relations” section of Limbach’s website or by using this direct link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=sRBNKE3a. An audio replay of the call will be archived on the Company’s website.

About Limbach

Limbach is a building systems solutions firm that designs, delivers, and maintains mechanical (heating, ventilation, and air conditioning), electrical, plumbing, and controls (“MEPC”) systems that support life’s most important moments. We partner with building owners and operators of mission-critical facilities across healthcare, industrial and manufacturing, data centers, life sciences, higher education, and cultural and entertainment markets. With approximately 2,100 team members across 23 offices throughout the Eastern and Midwestern regions of the United States, we strive to be an indispensable partner by combining our national capabilities with strong local execution and talent to deliver proactive, safe, and reliable solutions for complex facilities. Operating on a connected

3

platform, we integrate engineering expertise with field execution to provide customized MEPC infrastructure solutions that address both operational and capital project needs, optimizing performance, enhancing reliability, and ensuring long-term safety.

Additional Information

Investors and others should note that Limbach announces material financial information to its investors using its investor relations website, U.S. Securities and Exchange Commission (the “SEC”) filings, press releases, public conference calls/videos, and webcasts. Limbach uses these channels, as well as social media, to communicate with our stockholders and the public about the Company, the Company’s services and other Company information. It is possible that the information that Limbach posts on social media could be deemed to be material information. Therefore, Limbach encourages investors, the media, and others interested in the Company to review the information posted on the social media channels listed on Limbach’s investor relations website.

Forward-Looking Statements

We make forward-looking statements in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts for future events, including, without limitation, our earnings, Adjusted EBITDA, projected EBITDA production from possible acquisitions, bookings, projected full year 2026 organic ODR and/or organic revenue growth, revenues, expenses, backlog, capital expenditures or other future financial or business performance or strategies, integration of CYMCOR and 1901, results of operations or financial condition, timing of the recognition of backlog as revenue, the potential for recovery of cost overruns, and the ability of Limbach to successfully remedy the issues that have led to write-downs in various business units and the Company’s business being negatively affected by the health crises or outbreaks of diseases, such as epidemics or pandemics (and related impacts, such as supply chain disruptions). These statements also may include our assumptions related to our 2026 guidance of full year revenue and Adjusted EBITDA. These statements may be preceded by, followed by or include the words “may,” “might,” “will,” “will likely result,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target,” “goal,” or similar expressions. These forward-looking statements are based on information available to us as of the date they were made and involve a number of risks and uncertainties, which may cause them to turn out to be wrong. There may be additional risks that we consider immaterial or which are unknown. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Important factors that could cause such differences include, among others, our ability to successfully integrate CYMCOR and 1901 and to improve their gross margins, changes in customer budgets and the timing of project awards and commencements, the conversion of bookings and backlog into revenue, our level of indebtedness and compliance with the covenants under our PNC credit facilities, and our ability to achieve the assumptions underlying our 2026 guidance. Please refer to our most recent annual report on Form 10-K, as well as our subsequent filings on Form 10-Q and Form 8-K, which are available on the SEC’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements in this press release.

Investor Relations

Adam Prior

Vice President of Investor Relations and Corporate Strategy

LMB-IR@limbachinc.com

4

LIMBACH HOLDINGS, INC.

Condensed Consolidated Statements of Operations (Unaudited)

						Three Months Ended September 30,												Nine Months Ended September 30,
(in thousands, except share and per share data)						2026						2025						2026						2025
Revenue						$	230,460					$	184,583					$	542,776					$	459,932
Cost of revenue						176,620						139,898						420,473						338,702
Gross profit						53,840						44,685						122,303						121,230
Operating expenses:
Selling, general and administrative						34,591						28,330						90,821						81,480
Acquisition-related retention expense and contingent consideration						571						610						950						1,832
Amortization of intangibles						3,615						2,400						7,084						6,020
Total operating expenses						38,777						31,340						98,855						89,332
Operating income						15,063						13,345						23,448						31,898
Other (expenses) income:
Interest expense						(1,243)						(1,223)						(2,717)						(2,312)
Interest income						96						88						112						792
Gain on disposition of property and equipment						129						367						448						1,107
Loss on early debt extinguishment						(250)						—						(250)						—
(Loss) gain on change in fair value of interest rate swap						(6)						(22)						54						(175)
Total other expense						(1,274)						(790)						(2,353)						(588)
Income before income taxes						13,789						12,555						21,095						31,310
Income tax expense						4,339						3,767						2,518						4,546
Net income						$	9,450					$	8,788					$	18,577					$	26,764
Earnings Per Share (“EPS”)
Earnings per common share:
Basic						$	0.79					$	0.76					$	1.57					$	2.32
Diluted						$	0.79					$	0.73					$	1.54					$	2.21
Weighted average number of shares outstanding:
Basic						11,888,075						11,626,578						11,856,651						11,557,649
Diluted						12,000,412						12,107,480						12,028,816						12,090,829

5

LIMBACH HOLDINGS, INC.

Condensed Consolidated Balance Sheets (Unaudited)

(in thousands, except share and per share data)			September 30, 2026						December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents			$	29,062					$	11,345
Restricted cash			7,015						65
Accounts receivable (net of allowance for credit losses of $515 and $396, respectively)			189,014						133,205
Contract assets, net			63,775						45,467
Income tax receivable			1,126						—
Other current assets			12,059						4,967
Total current assets			302,051						195,049
Property and equipment, net			49,524						43,309
Intangible assets, net			89,379						49,187
Goodwill			101,171						70,600
Operating lease right-of-use assets			20,348						19,792
Deferred tax asset			2,101						2,917
Other assets			1,495						276
Total assets			$	566,069					$	381,130
LIABILITIES
Current liabilities:
Current portion of long-term debt			$	8,961					$	5,031
Current operating lease liabilities			4,965						4,379
Accounts payable, including retainage			97,642						74,172
Contract liabilities, net			47,897						20,936
Accrued income taxes			—						1,152
Accrued expenses and other current liabilities			37,232						29,416
Total current liabilities			196,697						135,086
Long-term debt			145,297						30,536
Long-term operating lease liabilities			16,762						15,925
Other long-term liabilities			2,879						3,922
Total liabilities			361,635						185,469
STOCKHOLDERS’ EQUITY
Common stock, $0.0001 par value; 100,000,000 shares authorized, issued 12,104,645 and 11,806,466, respectively, and 11,730,205 and 11,626,814 outstanding, respectively			1						1
Additional paid-in capital			97,531						97,335
Treasury stock, at cost (374,440 and 179,652 shares, respectively)			(12,000)						(2,000)
Retained earnings			118,902						100,325
Total stockholders’ equity			204,434						195,661
Total liabilities and stockholders’ equity			$	566,069					$	381,130

6

LIMBACH HOLDINGS, INC.

Condensed Consolidated Statements of Cash Flows (Unaudited)

			Three Months Ended September 30,												Nine Months Ended September 30,
(in thousands)			2026						2025						2026						2025
Cash flows from operating activities:
Net income			$	9,450					$	8,788					$	18,577					$	26,764
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization			6,521						5,063						15,246						13,058
Provision for credit losses			280						213						504						352
Non-cash stock-based compensation expense			1,580						1,980						5,500						5,216
Non-cash operating lease expense			1,718						1,029						3,941						3,021
Amortization of debt issuance costs			30						16						62						37
Deferred income tax provision			2,638						1,346						817						1,474
Gain on sale of property and equipment			(129)						(367)						(448)						(1,107)
Acquisition-related retention expense and contingent consideration(1)			571						610						950						1,832
Loss on early debt extinguishment			250						—						250						—
Loss (gain) on change in fair value of interest rate swap			6						22						(54)						175
Changes in operating assets and liabilities:
Accounts receivable			1,240						(11,198)						(15,107)						(4,743)
Contract assets and contract liabilities, net			(13,465)						(4,019)						2,448						(14,794)
Other current assets			4,910						(2,525)						(2,561)						(3,565)
Other assets			82						—						82						—
Accounts payable, including retainage			3,420						2,456						9,543						(2,972)
Prepaid income taxes			1,075						1,872						(1,126)						(44)
Accrued taxes payable			—						—						(1,152)						(1,470)
Operating lease liabilities			(1,716)						(996)						(3,850)						(2,964)
Accrued expenses and other current liabilities			2,159						9,195						1,762						(1,695)
Payments of contingent consideration liability in excess of acquisition-date fair value			—						—						(3,404)						(711)
Other long-term liabilities			(354)						(156)						(786)						(293)
Net cash provided by operating activities			20,266						13,329						31,194						17,571
Cash flows from investing activities:
1901 Transaction, net of cash acquired			(65,978)						—						(65,978)						—
CYMCOR Transaction, net of cash acquired			(29,864)						—						(29,864)						—
Pioneer Power Transaction, net of cash acquired			—						(65,651)						—						(65,651)
Consolidated Mechanical Transaction, measurement period adjustment			—						—						—						(3)
Proceeds from sale of property and equipment			369						379						749						1,305
Advances from joint ventures			—						—						1						—
Purchases of property and equipment			(735)						(481)						(1,781)						(3,556)
Net cash used in investing activities			(96,208)						(65,753)						(96,873)						(67,905)
Cash flows from financing activities:
Payments on Wintrust Revolving Loan			(146,487)						(17,347)						(239,615)						(17,347)
Proceeds from Wintrust Revolving Loan			128,987						41,848						229,615						41,848
Proceeds from PNC Revolving Credit Facility			75,000						—						75,000						—
Proceeds from PNC Term Loan Facility			50,000						—						50,000						—
Payments of debt issuance costs			(1,796)						(43)						(1,796)						(168)
Payments of contingent consideration liability up to acquisition-date fair value			—						—						(3,507)						(2,289)
Payments on finance leases			(1,392)						(1,285)						(3,893)						(3,052)
Proceeds from the sale of shares to cover employee taxes			—						—						5,945						6,344

7

Taxes paid related to net-share settlement of equity awards			—						—						(12,037)						(10,684)
Repurchases of common stock under Share Repurchase Program			(10,000)						—						(10,000)						—
Proceeds from contributions to Employee Stock Purchase Plan			113						129						634						570
Net cash provided by financing activities			94,425						23,302						90,346						15,222
Increase (decrease) in cash, cash equivalents and restricted cash			18,483						(29,122)						24,667						(35,112)
Cash, cash equivalents and restricted cash, beginning of period			17,594						39,005						11,410						44,995
Cash, cash equivalents and restricted cash, end of period			$	36,077					$	9,883					$	36,077					$	9,883
Supplemental disclosures of cash flow information
Noncash investing and financing transactions:
Earnout liability associated with 1901 Transaction			$	4,751					$	—					$	4,751					$	—
Estimated working capital adjustment due from sellers, 1901 Transaction			3,298						—						3,298						—
Estimated working capital adjustment due to sellers, CYMCOR Transaction			(22)						—						(22)						—
Kent Island Transaction, measurement period adjustment			—						—						—						(94)
Right of use assets obtained in exchange for new operating lease liabilities			2,816						641						3,526						2,317
Right of use assets obtained in exchange for new finance lease liabilities			4,044						5,542						4,221						13,475
Right of use assets disposed or adjusted modifying operating lease liabilities			419						—						419						—
Right of use assets disposed or adjusted modifying finance lease liabilities			79						—						99						—
Interest paid			815						1,269						2,268						2,327
Cash paid for income taxes			$	626					$	640					$	3,979					$	4,663

8

LIMBACH HOLDINGS, INC.

Condensed Consolidated Segment Operating Results (Unaudited)

			Three Months Ended September 30,																								Increase/(Decrease)
(in thousands, except for percentages)			2026												2025												$						%
Statement of Operations Data:
Revenue:
ODR			$	150,650					65.4		%				$	141,382					76.6		%				$	9,268					6.6		%
GCR			79,810						34.6		%				43,201						23.4		%				36,609						84.7		%
Total revenue			230,460						100.0		%				184,583						100.0		%				45,877						24.9		%
Cost of revenue:
ODR(1)			112,441						74.6		%				105,703						74.8		%				6,738						6.4		%
GCR(2)			64,179						80.4		%				34,195						79.2		%				29,984						87.7		%
Total cost of revenue			176,620						76.6		%				139,898						75.8		%				36,722						26.2		%
Gross profit:
ODR(1)			38,209						25.4		%				35,679						25.2		%				2,530						7.1		%
GCR(2)			15,631						19.6		%				9,006						20.8		%				6,625						73.6		%
Total gross profit			53,840						23.4		%				44,685						24.2		%				9,155						20.5		%
Selling, general and administrative(3)			34,591						15.0		%				28,330						15.3		%				6,261						22.1		%
Acquisition-related retention expense and contingent consideration			571						0.2		%				610						0.3		%				(39)						(6.4)		%
Amortization of intangibles			3,615						1.6		%				2,400						1.3		%				1,215						50.6		%
Total operating income			$	15,063					6.5		%				$	13,345					7.2		%				$	1,718					12.9		%

(1)As a percentage of ODR revenue.

(2)As a percentage of GCR revenue.

(3)Included within selling, general and administrative expenses was $1.6 million and $1.9 million of non-cash stock-based compensation expense for the three months ended September 30, 2026 and 2025, respectively.

9

LIMBACH HOLDINGS, INC.

Condensed Consolidated Segment Operating Results (Unaudited)

			Nine Months Ended September 30,																								Increase/(Decrease)
(in thousands, except for percentages)			2026												2025												$						%
Statement of Operations Data:
Revenue:
ODR			$	378,875					69.8		%				$	340,723					74.1		%				$	38,152					11.2		%
GCR			163,901						30.2		%				119,209						25.9		%				44,692						37.5		%
Total revenue			542,776						100.0		%				459,932						100.0		%				82,844						18.0		%
Cost of revenue:
ODR(1)			286,922						75.7		%				247,294						72.6		%				39,628						16.0		%
GCR(2)			133,551						81.5		%				91,408						76.7		%				42,143						46.1		%
Total cost of revenue			420,473						77.5		%				338,702						73.6		%				81,771						24.1		%
Gross profit:
ODR(1)			91,953						24.3		%				93,429						27.4		%				(1,476)						(1.6)		%
GCR(2)			30,350						18.5		%				27,801						23.3		%				2,549						9.2		%
Total gross profit			122,303						22.5		%				121,230						26.4		%				1,073						0.9		%
Selling, general and administrative(3)			90,821						16.7		%				81,480						17.7		%				9,341						11.5		%
Acquisition-related retention expense and contingent consideration			950						0.2		%				1,832						0.4		%				(882)						(48.1)		%
Amortization of intangibles			7,084						1.3		%				6,020						1.3		%				1,064						17.7		%
Total operating income			$	23,448					4.3		%				$	31,898					6.9		%				$	(8,450)					(26.5)		%

(1)As a percentage of ODR revenue.

(2)As a percentage of GCR revenue.

(3)Included within selling, general and administrative expenses was $5.5 million and $5.2 million of non-cash stock-based compensation expense for the nine months ended September 30, 2026 and 2025, respectively.

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Non-GAAP Financial Measures

In assessing the performance of our business, management utilizes a variety of financial and performance measures. The key measures are Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Diluted Earnings per Share, which are non-GAAP financial measures.

Adjusted EBITDA and Adjusted EBITDA Margin

We define Adjusted EBITDA as net income plus depreciation and amortization expense, interest expense, and taxes, as further adjusted to eliminate the impact of, when applicable, other non-cash items or expenses that are unusual or non-recurring that we believe do not reflect our core operating results. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by total revenue. Our board of directors and executive management team focus on Adjusted EBITDA and Adjusted EBITDA Margin as two of our key performance and compensation measures. Adjusted EBITDA and Adjusted EBITDA Margin assists us in comparing our performance over various reporting periods on a consistent basis because it removes from our operating results the impact of certain items that do not necessarily reflect our core operations. We believe that Adjusted EBITDA and Adjusted EBITDA Margin are meaningful to our investors to enhance their understanding of our financial performance for the current period and our ability to generate cash flows from operations that are available for taxes, capital expenditures and debt service.

Adjusted Net Income and Adjusted Diluted Earnings per Share

We define Adjusted Net Income as net income, adjusted to exclude certain items that do not reflect our core operating performance, such as amortization of intangible assets, stock-based compensation, restructuring charges, the change in fair value of contingent consideration, acquisition and other transaction costs, loss on early debt extinguishment, the change in fair value of the interest rate swap and the net tax effect of reconciling items, as further adjusted to eliminate the impact of, when applicable, other non-cash items or expenses that are unusual or non-recurring. We define Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted average diluted shares outstanding. We believe Adjusted Net Income and Adjusted Diluted Earnings per Share are useful to investors as we use these metrics to assist with strategic decision making, forecasting future results, and evaluating current performance.

We understand that these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties as a measure of financial performance and to compare our performance with the performance of other companies that report Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Diluted Earnings per Share. Our calculations of these non-GAAP measures, however, may not be comparable to similarly titled measures reported by other companies. When assessing our operating performance, investors and others should not consider this data in isolation or as a substitute for net income calculated in accordance with GAAP. Further, the results presented by Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Diluted Earnings per Share cannot be achieved without incurring the costs that the measure excludes. A reconciliation of net income to Adjusted EBITDA and net income to Adjusted Net Income, the most comparable GAAP measures, are provided below.

Backlog and Bookings

We refer to our estimated revenue on uncompleted contracts, including the amount of revenue on contracts for which work has not begun, less the revenue we have recognized under such contracts, as “backlog.” Backlog includes unexercised contract options.

Bookings (we also refer to bookings in certain instances as sales booked) represent the total contract value agreed upon when a customer commits to services. We believe bookings provide an indication of trends in our operating results, including potential cash flows, that are not necessarily reflected in our revenue because we recognize revenue in accordance with ASC 606 – Revenue from Contracts with Customers, which is different from how we present bookings. See Note 4 – Revenue from Contracts with Customers within our Form 10-Q for the quarter ended September 30, 2026, for additional discussion on revenue recognition. Our bookings may vary significantly quarter to quarter depending in part on the timing of the execution of our agreements with our customers. Our book-to-bill ratio is defined as bookings for the defined period divided by revenue for the defined period. Measuring bookings involves the use of estimates and judgments and there are no independent standards or requirements governing the

11

calculation of bookings. The extent and timing of conversion of bookings to revenue may be impacted by, among other factors, the types of services sold, agreement duration, the pace of customer spending, actual volumes of services delivered as compared to the volumes anticipated at the time of sale, and agreement modifications, including terminations, over the lifetime of agreements. Some of our arrangements are terminable by the customer. We do not update our bookings for subsequent terminations. Information regarding our bookings is not comparable to, nor should it be substituted for, an analysis of our reported revenue. However, management believes that it is a key indicator of potential future business and provides a useful indicator of the volume of our business over time as a key metric.

Reconciliation of Net Income to Adjusted EBITDA (unaudited)
			Three Months Ended September 30,												Nine Months Ended September 30,
(in thousands except for percentages)			2026						2025						2026						2025
Net income			$	9,450					$	8,788					$	18,577					$	26,764
Adjustments:
Depreciation and amortization			6,521						5,063						15,246						13,058
Interest expense			1,243						1,223						2,717						2,312
Interest income			(96)						(88)						(112)						(792)
Stock-based compensation expense			1,580						1,980						6,285						5,634
Change in fair value of interest rate swap			6						22						(54)						175
Income tax expense			4,339						3,767						2,518						4,546
Acquisition and other transaction costs			3,287						137						3,287						659
Acquisition-related retention expense and contingent consideration			571						610						950						1,832
Loss on early debt extinguishment			250						—						250						—
Restructuring costs(1)			250						263						347						397
Adjusted EBITDA			$	27,401					$	21,765					$	50,011					$	54,585
Revenue			$	230,460					$	184,583					$	542,776					$	459,932
Adjusted EBITDA Margin			11.9		%				11.8		%				9.2		%				11.9		%

(1) For the three and nine months ended September 30, 2026 and 2025, the majority of the restructuring costs related to our Southern California and Eastern Pennsylvania branches.

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Reconciliation to Adjusted Net Income and Adjusted Diluted Earnings Per Share (unaudited)
			Three Months Ended September 30,																								Nine Months Ended September 30,
(in thousands, except share and per share amounts)			2026												2025												2026												2025
Net income and diluted earnings per share			$	9,450					$	0.79					$	8,788					$	0.73					$	18,577					$	1.54					$	26,764					$	2.21
Pre-tax Adjustments:
Amortization of acquisition-related intangible assets			3,615						0.30						2,400						0.20						7,084						0.59						6,020						0.50
Stock-based compensation expense			1,580						0.13						1,980						0.16						6,285						0.52						5,634						0.47
Change in fair value of interest rate swap			6						—						22						—						(54)						—						175						0.01
Restructuring costs(1)			250						0.02						263						0.02						347						0.03						397						0.03
Acquisition-related retention expense and contingent consideration			571						0.05						610						0.05						950						0.08						1,832						0.14
Acquisition and other transaction costs			3,287						0.27						137						0.01						3,287						0.27						659						0.06
Loss on early debt extinguishment			250						0.02						—						—						250						0.02
Tax effect of reconciling items(2)			(2,581)						(0.21)						(1,461)						(0.12)						(4,900)						(0.40)						(3,974)						(0.32)
Adjusted net income and adjusted diluted earnings per share			$	16,428					$	1.37					$	12,739					$	1.05					$	31,826					$	2.65					$	37,507					$	3.10
Weighted average number of shares outstanding: Diluted									12,000,412												12,107,480												12,028,816												12,090,829

(1)    For the three and nine months ended September 30, 2026 and 2025, the majority of the restructuring costs related to our Southern California and Eastern Pennsylvania branches.

(2)    The tax effect of reconciling items was calculated using a statutory tax rate of 27%.

Supplemental Revenue Disclosures

Organic and acquisition-related revenue are not defined under GAAP and may not be comparable to similarly-titled measures used by other companies and should not be considered a substitute for revenue as determined in accordance with GAAP. Management believes these non-GAAP measures provide useful information to investors by highlighting the underlying growth trends of the Company’s existing operations, separate from the effects of recent acquisitions. Organic revenue reflects the change in revenue from the Company’s continuing operations excluding the impact of acquisitions, while acquisition-related revenue represents the incremental contribution from businesses acquired only for the twelve-month period following the date of acquisition. These measures are intended to enhance investors’ understanding of the Company’s performance and trends over time, and should be considered in conjunction with, but not as a substitute for, GAAP revenue.

The following are reconciliations of reported revenue to organic / acquisition-related revenue for the three and nine months ended September 30, 2026, compared to revenue for the three and nine months ended September 30, 2025:

(in thousands except for percentages)			ODR			%			GCR			%			Total Revenue			%
Revenue: Three months ended September 30, 2025			$	141,382					$	43,201					$	184,583
Components of revenue change:
Organic revenue			3,091			2.2		%	23,480			54.4		%	26,571			14.4		%
Acquisition-related revenue(1)			6,177			4.4		%	13,129			30.4		%	19,306			10.5		%
Revenue: Three months ended September 30, 2026			$	150,650		6.6		%	$	79,810		84.7		%	$	230,460		24.9		%

(1)    Acquisition-related revenue reflects revenue attributable to the third quarter 2026 acquisitions of CYMCOR and 1901.

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(in thousands except for percentages)			ODR			%			GCR			%			Total Revenue			%
Revenue: Nine months ended September 30, 2025			$	340,723					$	119,209					$	459,932
Components of revenue change:
Organic revenue			(5,507)			(1.6)		%	14,568			12.2		%	9,061			2.0		%
Acquisition-related revenue(1)			43,659			12.8		%	30,124			25.3		%	73,783			16.0		%
Revenue: Nine months ended September 30, 2026			$	378,875		11.2		%	$	163,901		37.5		%	$	542,776		18.0		%

(1)    Acquisition-related revenue reflects Pioneer Power’s revenue from January 1, 2026 through June 30, 2026, and revenue from 1901 and CYMCOR from their respective acquisition dates through September 30, 2026.

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NASDAQ: LMB Third Quarter 2026 Earnings Presentation Financial Results & Business Update For the quarter ended September 30, 2026 | November 4, 2026

Forward-Looking Statements & Non-GAAP Measures | NOVEMBER 4, 2026 NASDAQ: LMB | 2 Forward-looking statements Non-GAAP and operating measures We make forward-looking statements in this presentation within the meaning of the private securities litigation reform act of 1995. These forward-looking statements relate to expectations or forecasts for future events, including, without limitation, the execution of the company’s long-term strategic roadmap. These statements may be preceded by, followed by or include the words “may,” “might,” “will,” “will likely result,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target,” “potential,” “scenario,” “evolution,” “criteria” or similar expressions. These forward-looking statements are based on information available to us as of the date they were made and involve a number of risks and uncertainties which may cause them to turn out to be wrong. Some of these risks and uncertainties may in the future be amplified by certain health crises or outbreaks of diseases, such as epidemics or pandemics (and related impacts, such as supply chain disruptions) and there may be additional risks that we consider immaterial, or which are unknown. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Please refer to our most recent annual report on form 10-K, as well as our subsequent filings on form 10-Q and form 8-K, which are available on the sec’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements in this presentation. Adjusted EBITDA and its margin, adjusted net income, adjusted diluted EPS, organic revenue growth, free cash flow and net debt are supplemental measures. They do not replace GAAP results and may differ from similarly titled peer measures. Company-defined free cash flow excludes working-capital changes and deducts capital expenditures excluding rental-equipment investment. Bookings and backlog involve estimates and timing uncertainty; neither guarantees future revenue, profit or cash flow. Definitions and reconciliations accompany this presentation. A quantitative reconciliation of projected Adjusted EBITDA and related margins is unavailable without unreasonable efforts because certain excluded items are highly variable, complex and difficult to forecast. Those items may significantly and unpredictably affect future GAAP results.

Third-Quarter Financial and Operating Highlights | NOVEMBER 4, 2026 NASDAQ: LMB | 3 Q3 2026 Revenue $230.5 million up 24.9% vs. Q3 2025 Q3 2026 Net income $9.5 million up 7.5% vs. Q3 2025 Q3 2026 Adjusted EBITDA¹ $27.4 million up 25.9% vs Q3 2025 Q3 2026 Free Cash Flow2 $22.2 million 80.9% Conversion from EBITDA Business performance Customer activity Acquisitions & outlook ODR organic growth resumed Organic revenue growth: 2.2% ODR share of revenue: 65.4% Bookings: $311.2 million Book-to-bill: 1.4x 1901 completed; CYMCOR adds data center expertise. 2026 guidance tracking at or near the high end of the Adjusted EBITDA range.Customer budgets progressing • Deeper owner relationships • Improving project visibility 1 See appendix for non-GAAP reconciliation. 2 See FCF reconciliation.

Growth Strategy and Business Mix | NOVEMBER 4, 2026 NASDAQ: LMB | 4 National reach. Local presence. Proactive solutions for mission-critical facilities. Build on our traditional strengths Healthcare • Industrial & manufacturing Higher education • Cultural & entertainment Expand participation in growth opportunities Technology • Life sciences • Data centers Broader growth drivers, with selective participation in each market Geographic reach Follow customer needs across more locations, with strong local execution. Vertical-market mix Deepen market expertise and broaden our set of growth drivers. Integrated model Connect planning, fabrication, project delivery and ongoing service. 2027 focus: national customer relationships • fabrication & off-site work • lifecycle services

1901 Acquisition: Wisconsin Market & Expanded MEPC Capabilities | NOVEMBER 4, 2026 NASDAQ: LMB | 5 Base purchase price $63 Million Cash + revolver 2027 revenue ~$140 Million Full-year expectation 2027 Adj. EBITDA ~$11 Million Full-year expectation Employees ~450 350+ field professionals U.S. office footprint 1901 • Madison, WI Strategic Fit & Integration • Limbach's largest electrical operation, with broader MEPC capabilities. • Broader local delivery capabilities for national and multi-site customers. • Customer growth and operating discipline to improve margins over time. UWHC Transplant Clinic Healthcare NorthStar BE3 Life sciences Benoit College Powerhouse Higher education Columbus Chattanooga Pittsburgh Philadelphia New Jersey Boston DC Orlando West Palm Beach Tampa North Carolina Detroit Lansing Grand Rapids Western Kentucky Twin Cities Southeast Ohio Similar to Limbach, 1901 is a 125-year-old Building Systems Solutions Firm Limbach Reach Limbach Location Cymcor 2027 figures are previously announced acquired-business expectations, not consolidated Limbach guidance.

CYMCOR: Extending the "Mission Critical" Model | NOVEMBER 4, 2026 NASDAQ: LMB | 6 Early owner engagement supports informed project selection and broader customer relationships Data centers: expand the opportunity Program management Commissioning oversight Strategic consulting Connect owner relationships with engineering, fabrication, execution and ongoing service 2027 expectations1 ~$12 Million Revenue | ~$4 Million Adjusted EBITDA Featured Projects Available fabrication capacity supports selected data center work with lower risk and higher-margin potential. 1 Previously announced acquired-business expectations; excludes potential synergies and incremental project pull-through.

Financial Review Three & Nine Months Ended September 30, 2026

$9.0 $15.6 $35.7 $38.2 Q3 2025 Q3 2026 $— $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $43.2 $79.8 $141.4 $150.7 Q3 2025 Q3 2026 $— $50.0 $100.0 $150.0 $200.0 $250.0 Third-Quarter Financial Performance | NOVEMBER 4, 2026 NASDAQ: LMB | 8 Three months ended September 30 Revenue ODR GCR $230.5 Gross Profit & Margin ODR GCR $44.7 (24.2%) Adjusted EBITDA1 Dollars in millions. Totals may not foot due to rounding. 1 See appendix for non-GAAP reconciliation. $21.8 $27.4 Q3 2025 Q3 2026 $— $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $184.6 $53.8 (23.4%)

Nine-Month Financial Performance | NOVEMBER 4, 2026 NASDAQ: LMB | 9 $27.8 $30.4 $93.4 $92.0 YTD 2025 YTD 2026 $— $25.0 $50.0 $75.0 $100.0 $125.0 $150.0 $119.2 $163.9 $340.7 $378.9 YTD 2025 YTD 2026 $— $100.0 $200.0 $300.0 $400.0 $500.0 $600.0 Nine months ended September 30 Revenue ODR GCR Gross Profit & Margin ODR GCR Adjusted EBITDA1 Dollars in millions. Totals may not foot due to rounding. 1 See appendix for non-GAAP reconciliation. $542.8 $121.2 (26.4%) $54.6 $50.0 YTD 2025 YTD 2026 $— $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $459.9 $122.3 (22.5%)

Cash Flow, Liquidity & Capital Allocation | NOVEMBER 4, 2026 NASDAQ: LMB |10 Dollars in millions. ¹ See FCF reconciliation. ² Net debt = debt less unrestricted cash; leverage uses reported TTM Adjusted EBITDA ($77.2 million). ³ Liquidity = unrestricted cash plus revolver availability after borrowings and letters of credit. Includes $50 million available under a delayed draw term loan. Available amounts under both facilities are subject to reduction in accordance with their respective terms and conditions, including compliance with applicable covenants. As of September 30, 2026, an aggregate borrowing capacity limitation reduced available liquidity under the facilities by $40 million. Cash generation September 30, 2026 balance sheet Q3 2026 9M 2026 Cash from Operations (GAAP) $20.3 $31.2 Company-defined free cash flow¹ $22.2 $43.6 FCF / Adjusted EBITDA¹ 80.9% 87.1% September 30 Cash and cash equivalents $29.1 Total debt / net debt² $154.9 / $125.8 Net debt / reported TTM Adj. EBITDA² 1.63x Available credit facility capacity³ $125.0 Total liquidity³ $164.2 Cash generation + expanded credit capacity support investment and financial flexibility New credit agreement of $300 million in September 2026 expands LMB’s liquidity Share Repurchases During the Quarter, Limbach Repurchased 194,788 shares at an average price of $51.31 per share

2026 Outlook | NOVEMBER 4, 2026 NASDAQ: LMB | 11 Tracking at or near the high end of the Revenue and Adjusted EBITDA ranges Full-year guidance • Revenue: $760–$790 million • Adjusted EBITDA¹: $78–$84 million Key Performance Indicators for Fiscal 2026 • Total organic revenue growth: 9–14%; ODR organic revenue growth: 6–10% • ODR share of revenue: 70–80% • Gross margin: 23–24%; SG&A: 15–16% of revenue • Free cash flow²: 75% of Adjusted EBITDA ¹ Forward-looking non-GAAP measures; see page 2. ² Free cash flow excludes working-capital changes and deducts capital expenditures excluding rental-equipment investment. Organic growth recovering Favorable setup for 2027

2026 Priorities & 2027 Setup | NOVEMBER 4, 2026 NASDAQ: LMB | 12 Focus on Execution Continue favorable bookings momentum Improve project performance Integrate & Expand Continue acquisition integration Position for continued geographic expansion Finish Strong Deliver a strong fourth quarter Enter 2027 with diverse opportunities for profitable growth

| NOVEMBER 4, 2026 NASDAQ: LMB | 13 Q&A Adam Prior Vice President of Investor Relations and Corporate Strategy LMB-IR@limbachinc.com

Appendix Non-GAAP Reconciliations Three & Nine Months Ended September 30, 2026

Net Income to Adjusted EBITDA Reconciliation | NOVEMBER 4, 2026 NASDAQ: LMB | 15 (in thousands) Fiscal Year Ended December 31, Three Months Ended September 30, Nine Months Ended September 30, 2020 2021 2022 2023 2024 2025 2026 2025 2026 2025 Revenue $568,209 $490,351 $496,782 $516,350 $518,781 $646,804 $230,460 $184,583 $542,776 $459,932 Net income $5,807 $6,714 $6,799 $20,754 $30,875 $39,064 $9,450 $8,788 $18,577 $26,764 Adjustments: Depreciation and amortization 6,171 5,948 8,158 8,244 11,888 18,133 6,521 5,063 15,246 13,058 Interest expense 8,627 2,568 2,144 2,046 1,869 3,133 1,243 1,223 2,717 2,312 Interest income — — — (1,217) (2,227) (815) (96) (88) (112) (792) Stock-based compensation expense 1,068 2,601 2,742 4,910 5,773 7,434 1,580 1,980 6,285 5,634 Loss on early debt extinguishment — 1,961 — 311 — — 250 — 250 — Change in fair value of warrant liability 1,634 (14) — — — — — — — — Change in fair value of interest rate swap — — (310) 124 (34) 191 6 22 (54) 175 Severance expense 622 — — — — — — — — — Loss on early termination of operating lease — — 849 — — — — — — — CEO Transition costs — — — 958 — — — — — — Restructuring costs — — 6,016 1,770 1,427 2,155 250 263 347 397 Acquisition-related retention expense and contingent consideration — — 2,285 729 3,770 1,985 571 610 950 1,832 Income tax provision 1,182 2,763 2,809 7,346 9,091 9,565 4,339 3,767 2,518 4,546 Acquisition and other transaction costs — 735 273 826 1,282 957 3,287 137 3,287 659 Total Adjusted EBITDA $25,111 $23,276 $31,765 $46,801 $63,714 $81,802 $27,401 $21,765 $50,011 $54,585 Adjusted EBITDA Margin 4.4% 4.7% 6.4% 9.1% 12.3% 12.6% 11.9 % 11.8 % 9.2 % 11.9 % *Use of Non-GAAP Financial Measures In assessing the performance of our business, management utilizes a variety of financial and performance measures. The key measure is Adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net income plus depreciation and amortization expense, interest expense (net), and taxes, as further adjusted to eliminate the impact of, when applicable, other non-cash items or expenses that are unusual or non-recurring or that we believe do not reflect our core operating results. We believe that Adjusted EBITDA is meaningful to our investors to enhance their understanding of our financial performance for the current period and our ability to generate cash flows from operations that are available for taxes, capital expenditures and debt service. We understand that Adjusted EBITDA is frequently used by securities analysts, investors and other interested parties as a measure of financial performance and to compare our performance with the performance of other companies that report Adjusted EBITDA. Our calculation of Adjusted EBITDA, however, may not be comparable to similarly titled measures reported by other companies. When assessing our operating performance, investors and others should not consider this data in isolation or as a substitute for net income (loss) calculated in accordance with GAAP. Further, the results presented by Adjusted EBITDA cannot be achieved without incurring the costs that the measure excludes.

Adjusted Net Income & Diluted EPS Reconciliation | NOVEMBER 4, 2026 NASDAQ: LMB | 16 (In thousands, except share and per share amounts) Fiscal Year Ended December 31, Three Months Ended September 30, Nine Months Ended September 30, 2020 2021 2022 2023 2024 2025 2026 2025 2026 2025 Net income and diluted earnings per share $5,807 $0.72 $6,714 $0.66 $6,799 $0.64 $20,754 $1.76 $30,875 $2.57 $39,064 $3.23 $9,450 $0.79 $8,788 $0.73 $18,577 $1.54 $26,764 $2.21 Pre-tax Adjustments: Amortization of acquisition-related intangible assets 630 0.08 484 0.05 1,567 0.15 1,880 0.16 4,688 0.39 8,357 0.69 3,615 0.30 2,400 0.20 7,084 0.59 6,020 0.50 Stock-based compensation expense 1,068 0.13 2,601 0.25 2,742 0.26 4,910 0.42 5,773 0.48 7,434 0.62 1,580 0.13 1,980 0.16 6,285 0.52 5,634 0.47 Loss on early debt extinguishment — — 1,961 0.19 — — 311 0.03 — — — — 250 0.02 — — 250 0.02 — — Loss on early termination of operating lease — — — — 849 0.08 — — — — — — — — — — — — — — Change in fair value of interest rate swap — — — — (310) (0.03) 124 0.01 (34) — 191 0.02 6 — 22 — (54) — 175 0.01 Change in fair value of warrant liability 1,634 0.20 (14) — — — — — — — — — — — — — — — — — Restructuring costs — — — — 6,016 0.56 1,770 0.15 1,427 0.12 2,155 0.18 250 0.02 263 0.02 347 0.03 397 0.03 Acquisition-related retention expense and contingent consideration — — — — 2,285 0.21 729 0.06 3,770 0.31 1,985 0.16 571 0.05 610 0.05 950 0.08 1,832 0.14 Acquisition and other transaction costs — — 735 0.07 273 0.03 826 0.07 1,282 0.11 957 0.08 3,287 0.27 137 0.01 3,287 0.27 659 0.06 Severance expense 622 0.08 — — — — — — — — — — — — — — — — — — CEO transition costs — — — — — — 958 0.08 — — — — — — — — — — — — Tax effect of reconciling items¹ (1,107) (0.14) (1,557) (0.15) (3,623) (0.34) (3,107) (0.26) (4,564) (0.38) (5,691) (0.47) (2,581) (0.21) (1,461) (0.12) (4,900) (0.40) (3,974) (0.32) Adjusted net income and Adjusted diluted earnings per share $8,654 $1.07 $10,924 $1.07 $16,598 $1.56 $29,155 $2.48 $43,217 $3.60 $54,452 $4.51 $16,428 $1.37 $12,739 $1.05 $31,826 $2.65 $37,507 $3.10 Weighted average number of diluted shares outstanding 8,065,464 10,231,637 10,676,534 11,812,098 12,027,398 12,079,583 12,000,412 12,107,480 12,028,816 12,090,829 1. The tax effect of reconciling items was calculated using a statutory tax rate of 28% for FY 2020 and 27% for FYs 2021 through 2026. Totals may not foot due to rounding. *Use of Non-GAAP Financial Measures In assessing the performance of our business, management utilizes a variety of financial and performance measures. The key measure is Adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net income plus depreciation and amortization expense, interest expense (net), and taxes, as further adjusted to eliminate the impact of, when applicable, other non-cash items or expenses that are unusual or non-recurring or that we believe do not reflect our core operating results. We believe that Adjusted EBITDA is meaningful to our investors to enhance their understanding of our financial performance for the current period and our ability to generate cash flows from operations that are available for taxes, capital expenditures and debt service. We understand that Adjusted EBITDA is frequently used by securities analysts, investors and other interested parties as a measure of financial performance and to compare our performance with the performance of other companies that report Adjusted EBITDA. Our calculation of Adjusted EBITDA, however, may not be comparable to similarly titled measures reported by other companies. When assessing our operating performance, investors and others should not consider this data in isolation or as a substitute for net income (loss) calculated in accordance with GAAP. Further, the results presented by Adjusted EBITDA cannot be achieved without incurring the costs that the measure excludes.

Condensed Consolidated Segment Operating Results (Unaudited) | NOVEMBER 4, 2026 NASDAQ: LMB | 17 Three Months Ended September 30, Increase/(Decrease) (in thousands, except for percentages) 2026 2025 $ % Statement of Operations Data: Revenue: ODR $ 150,650 65.4 % $ 141,382 76.6 % $ 9,268 6.6 % GCR 79,810 34.6 % 43,201 23.4 % 36,609 84.7 % Total revenue 230,460 100.0 % 184,583 100.0 % 45,877 24.9 % Cost of revenue: ODR(1) 112,441 74.6 % 105,703 74.8 % 6,738 6.4 % GCR(2) 64,179 80.4 % 34,195 79.2 % 29,984 87.7 % Total cost of revenue 176,620 76.6 % 139,898 75.8 % 36,722 26.2 % Gross profit: ODR(1) 38,209 25.4 % 35,679 25.2 % 2,530 7.1 % GCR(2) 15,631 19.6 % 9,006 20.8 % 6,625 73.6 % Total gross profit 53,840 23.4 % 44,685 24.2 % 9,155 20.5 % Selling, general and administrative(3) 34,591 15.0 % 28,330 15.3 % 6,261 22.1 % Acquisition-related retention expense and contingent consideration 571 0.2 % 610 0.3 % (39) (6.4) % Amortization of intangibles 3,615 1.6 % 2,400 1.3 % 1,215 50.6 % Total operating income $ 15,063 6.5 % $ 13,345 7.2 % $ 1,718 12.9 % (1) As a percentage of ODR revenue. (2) As a percentage of GCR revenue. (3) Included within selling, general and administrative expenses was $1.6 million and $1.9 million of non-cash stock-based compensation expense for the three months ended September 30, 2026 and 2025, respectively. Nine Months Ended September 30, Increase/(Decrease) (in thousands, except for percentages) 2026 2025 $ % Statement of Operations Data: Revenue: ODR $ 378,875 69.8 % $ 340,723 74.1 % $ 38,152 11.2 % GCR 163,901 30.2 % 119,209 25.9 % 44,692 37.5 % Total revenue 542,776 100.0 % 459,932 100.0 % 82,844 18.0 % Cost of revenue: ODR(1) 286,922 75.7 % 247,294 72.6 % 39,628 16.0 % GCR(2) 133,551 81.5 % 91,408 76.7 % 42,143 46.1 % Total cost of revenue 420,473 77.5 % 338,702 73.6 % 81,771 24.1 % Gross profit: ODR(1) 91,953 24.3 % 93,429 27.4 % (1,476) (1.6) % GCR(2) 30,350 18.5 % 27,801 23.3 % 2,549 9.2 % Total gross profit 122,303 22.5 % 121,230 26.4 % 1,073 0.9 % Selling, general and administrative(3) 90,821 16.7 % 81,480 17.7 % 9,341 11.5 % Acquisition-related retention expense and contingent consideration 950 0.2 % 1,832 0.4 % (882) (48.1) % Amortization of intangibles 7,084 1.3 % 6,020 1.3 % 1,064 17.7 % Total operating income $ 23,448 4.3 % $ 31,898 6.9 % $ (8,450) (26.5) % (1) As a percentage of ODR revenue. (2) As a percentage of GCR revenue. (3) Included within selling, general and administrative expenses was $5.5 million and $5.2 million of non-cash stock-based compensation expense for the nine months ended September 30, 2026 and 2025, respectively. Third Quarter 2026 YTD 2026

Company-Defined Free Cash Flow Reconciliation NASDAQ: LMB | 18| NOVEMBER 4, 2026 (in thousands) Fiscal Year Ended December 31, Three Months Ended September 30, Nine Months Ended September 30, 2020 2021 2022 2023 2024 2025 2026 2025 2026 2025 Adjusted EBITDA: $25,111 $23,276 $31,765 $46,801 $63,714 $81,802 $27,401 $21,765 $50,011 $54,585 Free Cash Flow: Net Income $5,807 $6,714 $6,799 $20,754 $30,875 $39,064 9,450 $8,788 18,577 $26,764 Non-cash operating activities¹ 13,767 16,997 17,634 18,222 24,454 32,790 13,465 9,912 26,768 24,058 Cash from Operations (excluding working capital) 19,574 23,711 24,433 38,976 55,329 71,854 22,915 18,700 45,345 50,822 Minus: Purchases of property and equipment² (1,483) (791) (993) (2,266) (2,998) (1,712) (735) (481) (1,781) (1,461) Free Cash Flow $18,091 $22,920 $23,440 $36,710 $52,331 $70,142 $22,180 $18,219 $43,564 $49,361 Free Cash Flow Conversion % 72.0 % 98.5 % 73.8 % 78.4 % 82.1 % 85.7 % 80.9 % 83.7 % 87.1 % 90.4 % 1. Represents non-cash activity associated with depreciation and amortization, provision for credit losses / doubtful accounts, stock-based compensation expense, operating lease expense, amortization of debt issuance costs, deferred income tax provision, gain or loss on sale of property and equipment, loss on early termination of operating lease, loss on early debt modification, acquisition-related retention expense and contingent consideration, change in fair value of warrant liability, impairment of goodwill, and changes in the fair value of the Company’s interest rate swap. Certain prior-period amounts have been reclassified to conform to the current-period presentation, including the net presentation of changes in contract assets and contract liabilities and the presentation of acquisition-related retention expense and contingent consideration. 2. Excludes $2,095K and $4,526K of rental equipment purchases during the twelve months ended December 31, 2025 and 2024, respectively; $0 and $2,095K during the three and nine months ended September 30, 2025, respectively *Use of Non-GAAP Financial Measures In assessing the performance of our business, management utilizes a variety of financial and performance measures. The key measure is Adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net income plus depreciation and amortization expense, interest expense (net), and taxes, as further adjusted to eliminate the impact of, when applicable, other non-cash items or expenses that are unusual or non-recurring or that we believe do not reflect our core operating results. We believe that Adjusted EBITDA is meaningful to our investors to enhance their understanding of our financial performance for the current period and our ability to generate cash flows from operations that are available for taxes, capital expenditures and debt service. We understand that Adjusted EBITDA is frequently used by securities analysts, investors and other interested parties as a measure of financial performance and to compare our performance with the performance of other companies that report Adjusted EBITDA. Our calculation of Adjusted EBITDA, however, may not be comparable to similarly titled measures reported by other companies. When assessing our operating performance, investors and others should not consider this data in isolation or as a substitute for net income (loss) calculated in accordance with GAAP. Further, the results presented by Adjusted EBITDA cannot be achieved without incurring the costs that the measure excludes.

Supplemental Revenue Disclosure | NOVEMBER 4, 2026 NASDAQ: LMB | 19 Organic & Acquisition-Related Revenue (in thousands except for percentages) ODR % GCR % Total Revenue % Revenue: Three months ended September 30, 2025 $ 141,382 $ 43,201 $ 184,583 Components of revenue change: Organic revenue 3,091 2.2 % 23,480 54.4 % 26,571 14.4 % Acquisition-related revenue¹ 6,177 4.4 % 13,129 30.4 % 19,306 10.5 % Revenue: Three months ended September 30, 2026 $ 150,650 6.6 % $ 79,810 84.7 % $ 230,460 24.9 % (in thousands except for percentages) ODR % GCR % Total Revenue % Revenue: Nine months ended September 30, 2025 $ 340,723 $ 119,209 $ 459,932 Components of revenue change: Organic revenue (5,507) (1.6) % 14,568 12.2 % 9,061 2.0 % Acquisition-related revenue¹ 43,659 12.8 % 30,124 25.3 % 73,783 16.0 % Revenue: Nine months ended September 30, 2026 $ 378,875 11.2 % $ 163,901 37.5 % $ 542,776 18.0 % 1. Acquisition-related revenue reflects revenue attributable to CYMCOR and 1901 and, in the nine-month period, Pioneer Power, CYMCOR and 1901 prior to its first acquisition anniversary. *Use of Non-GAAP Financial Measures In assessing the performance of our business, management utilizes a variety of financial and performance measures. The key measure is Adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net income plus depreciation and amortization expense, interest expense (net), and taxes, as further adjusted to eliminate the impact of, when applicable, other non-cash items or expenses that are unusual or non-recurring or that we believe do not reflect our core operating results. We believe that Adjusted EBITDA is meaningful to our investors to enhance their understanding of our financial performance for the current period and our ability to generate cash flows from operations that are available for taxes, capital expenditures and debt service. We understand that Adjusted EBITDA is frequently used by securities analysts, investors and other interested parties as a measure of financial performance and to compare our performance with the performance of other companies that report Adjusted EBITDA. Our calculation of Adjusted EBITDA, however, may not be comparable to similarly titled measures reported by other companies. When assessing our operating performance, investors and others should not consider this data in isolation or as a substitute for net income (loss) calculated in accordance with GAAP. Further, the results presented by Adjusted EBITDA cannot be achieved without incurring the costs that the measure excludes.

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