Limbach Q3 2022: Record gross margin 20.3%, Adj EBITDA up 25.7%, guidance raised

Limbach Holdings, Inc.

2022-Q3 EPS reported $0.28 revenue$353,299,000

Revenue $122.4M (-5.3% YoY); ODR revenue up 52.2% to $59.7M (48.8% of total).
Gross margin 20.3% (record), gross profit $24.9M; net income $3.6M, diluted EPS $0.34.
Adjusted EBITDA $10.2M (+25.7% YoY); 2022 EBITDA guidance raised to $27-30M (from $25-29M).
Revenue guidance tightened to $510-530M; backlog $457.3M vs $435.2M at Dec 2021.
Cash $28.5M, term loan $23.3M; authorized $2M share repurchase program.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Limbach Holdings, Inc. reported for its quarter ended September 30, 2022 results: revenue $122.4 million, net income $3.6 million, EPS $0.34. Guidance raised.

Period: for its quarter ended September 30, 2022
Revenue: $122.4 million
Net income: $3.6 million
EPS: $0.34
Guidance: raised
Result: reported results

Exact text from the filing

9, 2022 – Limbach Holdings, Inc. (Nasdaq: LMB) today announced its financial results for the quarter ended September 30, 2022. The Company reported consolidated revenue of $122.4 million, compared with $129.2 million during the third quarter of 2021. ODR segment revenue accounted for 48.8% of consolidated revenue in the third quarter of 2022, up from 30.4% in the

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Source: SEC EDGAR

accession 0001606163-22-000014

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