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Limbach Holdings, Inc.

Limbach Holdings, Inc.

NASDAQ•LMB
CEO: Mr. Michael M. McCann
Sector: Industrials
Industry: Engineering & Construction
Listing Date: 2014-08-08
Limbach Holdings, Inc. operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services. It also provides critical system repair, MEP infrastructure projects, maintenance contracts, building automation upgrades, data driven insights, and program management services. In addition, it offers captive engineering capabilities, estimating and virtual design; and professional engineering, energy analysis, estimation, and detail design and three-dimensional building installation coordination services. The company serves research, acute care, and inpatient hospitals; public and private colleges, universities, research centers; sports arenas; entertainment facilities, and amusement rides and parks; data centers; automotive, energy and general manufacturing plants; and life sciences, including organizations and companies, whose work is centered around research and development focused on living things. Limbach Holdings, Inc. was founded in 1901 and is headquartered in Warrendale, Pennsylvania.
Contact Information
797 Commonwealth Drive, Warrendale, PA, 15086, United States
412-359-2100
www.limbachinc.com
Market Cap
$946.54M
P/E (TTM)
25.9
38.1
Dividend Yield
--
52W High
$154.05
52W Low
$63.02
52W Range
20%
Rank44Top 53.8%
3.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$184.58M+37.83%
4-Quarter Trend

EPS

$0.76+14.52%
4-Quarter Trend

FCF

$12.85M+180.34%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Revenue Growth Total revenue reached $459.9M for nine months, reflecting a strong $84.8M increase, or 22.6% growth.
ODR Segment Accelerated Growth ODR revenue grew $90.7M, reaching $340.7M, driven by acquisitions and focus on higher margin work.
Gross Profit Increased Substantially Total gross profit climbed to $121.2M, a $20.5M increase, despite slight overall margin compression to 26.4%.
Net Income Rises to $26.8M Nine month net income was $26.8M, showing a $5.7M improvement over the prior comparable period results.

Risk Factors

Federal Government Shutdown Risk Delays in federal appropriations could suspend government contracts, delay payments, or impact new contract awards.
Inflation and Supply Chain Volatility Monitoring uncertain inflationary cost environment, geopolitical risks, and potential disruptions to supply chains and materials.
Gross Margin Profile Shift Overall gross margin slightly compressed to 26.4% due to integration of Pioneer Power's lower margin profile.
Pension Withdrawal Liability Uncertainty Potential obligation for unfunded vested benefits in MEPPs could result in material withdrawal liability payments.

Outlook

ODR Revenue Mix Target Company maintains disciplined focus on ODR segment, currently at 74.1% of revenue, targeting 70%-80% mix.
Scaling Through Strategic Acquisitions Continuing to evaluate synergistic acquisitions to expand geographic footprint and enhance core capability offerings.
Liquidity Supports Next Twelve Months Current cash plus $60.4M credit availability ensures sufficient funding for working capital and capital expenditures.
Focus on Margin Expansion Strategy emphasizes evolving offerings to drive sustainable growth, increase operational efficiency, and expand margins.

Peer Comparison

Revenue (TTM)

Astec Industries, Inc.ASTE
$1.37B
+6.7%
Barrett Business Services, Inc.BBSI
$1.22B
+9.6%
Heidrick & Struggles International, Inc.HSII
$1.21B
+11.1%

Gross Margin (Latest Quarter)

Montrose Environmental Group, Inc.MEG
39.4%
-1.5pp
Willdan Group, Inc.WLDN
36.9%
+4.3pp
Preformed Line Products CompanyPLPC
29.7%
-1.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WLDN$1.88B44.716.1%13.4%
GRC$1.38B27.412.9%37.0%
CRAI$1.37B24.227.0%30.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
8.7%
Steady Growth
4Q Net Income CAGR
-3.7%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Mar 9, 2026
|
EPS:$1.26
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 4, 2025|
    Revenue: $184.58M+37.8%
    |
    EPS: $0.76+14.5%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $142.24M+16.4%
    |
    EPS: $0.67+26.4%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 5, 2025|
    Revenue: $133.11M+11.9%
    |
    EPS: $0.89+30.9%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 10, 2025|
    Revenue: $518.78M+0.5%
    |
    EPS: $2.75+42.5%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 5, 2024|
    Revenue: $133.92M+4.8%
    |
    EPS: $0.66+0.0%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $122.24M-2.1%
    |
    EPS: $0.53+6.0%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $118.98M-1.7%
    |
    EPS: $0.68+134.5%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 13, 2024|
    Revenue: $516.35M+3.9%
    |
    EPS: $1.93+196.9%
    Beat