Limbach Q2 Earnings Call Highlights

3 weeks ago 17

MarketBeat

Wed, August 5, 2026 astatine 12:04 PM CDT 7 min read

Key Points

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Second-quarter profitability weakened contempt gross rising 22% to $173.5 million, arsenic gross borderline fell to 21.5%, nett income declined 39% to $4.7 million, and adjusted EBITDA dropped 22% to $13.9 million. Project timing, softness successful healthcare and organization markets, and contention for labour and materials pressured results.
Limbach acquired data-center programme manager CYMCOR for $30 million, expanding its mission-critical infrastructure capabilities and geographic reach. CYMCOR is expected to lend $12 cardinal successful gross and $4 cardinal successful adjusted EBITDA successful 2027, excluding imaginable follow-on services.
The institution raised its 2026 gross outlook to $760 million-$790 million but chopped its adjusted EBITDA forecast to $78 million-$84 million. Strong bookings and improved backlog enactment imaginable 2027 gains, portion absorption described 2026 arsenic a reset play focused connected margins, information centers, concern expansion, and integration.

Limbach (NASDAQ:LMB) reported second-quarter 2026 results that fell abbreviated of management's expectations arsenic task timing, healthcare and institutional-market softness, and borderline unit weighed connected profitability. The institution besides announced the acquisition of information halfway programme manager CYMCOR for $30 million, positioning the woody arsenic portion of a broader effort to diversify its extremity markets and geographic reach.

President and Chief Executive Officer Michael McCann said lawsuit request remained steadfast contempt near-term pressure. Limbach recorded $182 cardinal successful bookings during the quarter, its 3rd consecutive 4th of beardown booking activity, bringing full bookings implicit the past 3 quarters to $616 million.

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"Our results fell abbreviated of expectations, driven by task timing and ongoing softness successful healthcare and organization markets from elevated terms sensitivity and marketplace conditions pressuring gross margins," McCann said. "However, underlying lawsuit demands remained healthy."

Revenue rises, but margins and net diminution

Total second-quarter gross accrued to $173.5 cardinal from $142.2 cardinal a twelvemonth earlier, chiefly reflecting a $30.9 cardinal gross publication from Pioneer Power. Owner Direct Relationships, oregon ODR, gross roseate 17.9% to $128.4 cardinal and represented 74% of full quarterly revenue. ODR integrated gross declined 3.4%, portion acquisition-related ODR gross accrued 21.3%.

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