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Limbach Holdings, Inc. (symbol: LMB) is a prominent integrated building systems provider headquartered in Pittsburgh, PA. Established with an estimated revenue of approximately $400 million in 2016, the company specializes in managing all components of mechanical, electrical, plumbing, and control systems. Limbach's core services encompass system design, construction, performance, and maintenance for both new and existing buildings.
Operating through 10 strategically located business units across the United States, Limbach serves a diverse customer base, including private building owners, not-for-profit organizations, and public/government sectors. Their locations span from Western and Eastern Pennsylvania, New Jersey, New England, Ohio, Michigan, Southern California, to the Mid-Atlantic region.
Limbach's expertise includes engineering, constructing, and servicing critical building systems such as mechanical, plumbing, air conditioning, heating, building automation, electrical and control systems. The company operates in two primary segments: General Contractor Relationships (GCR) and Owner Direct Relationships (ODR), with the latter generating the maximum revenue for the company.
Noteworthy recent achievements include various successful projects, partnerships, and advancements in energy retrofit solutions and equipment upgrades. This positions Limbach as a leader in the commercial specialty contracting field, ensuring sustainable and efficient building system solutions for their clients.
Limbach Holdings, Inc. (NASDAQ: LMB) has announced a new share repurchase program allowing up to $2.0 million in Common Stock to be repurchased. This initiative, approved by the Board of Directors, aims to enhance shareholder value and capitalize on potential buying opportunities over its one-year term, set to expire on September 29, 2023. The repurchase may occur through various methods and will be funded from cash, cash flow, or borrowing, depending on market conditions. The exact number of shares is not guaranteed, and the program can be modified or halted at any time.
Limbach Holdings, Inc. (Nasdaq: LMB) will participate in The Windy City Roundup hosted by MicroCap Rodeo on October 13 at the Swissotel Chicago. CEO Charlie Bacon will present at 11:00 am CT and will be available for one-on-one meetings throughout the event. The MicroCap Rodeo aims to connect investors with over 50 microcap companies, providing insights into key value drivers and trends for 2023. Investors can check Limbach’s Investor Relations website for updates and webcast links.
Limbach Holdings, Inc. (Nasdaq: LMB) announced its participation in Lake Street’s 6th Annual Best Ideas Growth Conference on September 14 at the Yale Club in New York City. CEO Charlie Bacon and EVP Matt Katz will be available for one-on-one meetings throughout the event. This year’s event will feature leading public companies paired with institutional investors for in-depth discussions. Limbach is recognized for its expertise in integrated building systems, including HVAC, plumbing, and electrical services, with a focus on various sectors across the U.S.
Limbach Holdings, Inc. (Nasdaq: LMB) reported Q2 2022 results showing a consolidated revenue of $116.1 million, down 4.0% year-over-year. The Owner Direct Relationships (ODR) segment revenue surged 48.7%, contributing 42.9% of total revenue. Net income increased to $0.9 million, an 18.3% rise, and Adjusted EBITDA jumped 85.1% to $6.6 million. Despite a decrease in overall revenue, the gross margin improved to 18.4%. The company reaffirmed its FY 2022 guidance of $510-$540 million in revenue and $25-$29 million in Adjusted EBITDA.
Limbach Holdings, Inc. (NASDAQ: LMB) will release its Q2 2022 financial results on
Limbach Holdings, Inc. (NASDAQ: LMB) has appointed Christos Ruci as Chief Information Officer, emphasizing its commitment to enhancing efficiency through technology. Mr. Ruci, who previously served as VP of Technology, will report to CFO Jayme Brooks and focus on driving the company's digital solutions and analytics strategy. This strategic move aligns with Limbach's Owner-Direct business model aimed at delivering increased value to customers and streamlining operations. The initiative is expected to improve decision-making processes and employee productivity.
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
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.
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