Limbach FY 2021 net income $6.7M ($0.66 EPS); gross margin 17.5% (+320 bps); ODR revenue +10.3%

Limbach Holdings, Inc.

FY revenue $490.4M (-13.7% YoY), net income $6.7M (+15.5% vs $5.8M), diluted EPS $0.66.
Gross margin 17.5% up 320 bps, driven by ODR mix and improved GCR margins; total gross profit $85.9M vs $81.4M.
ODR segment revenue up 10.3% to $140.3M, 28.6% of total revenue; accounting for 47.1% of gross profit.
Q4 net income $4.3M ($0.41 EPS) vs $0.4M ($0.05 EPS); adjusted EBITDA $9.5M, +112.5% YoY.
Backlog $435.2M; ODR backlog up 92.5% to $98.0M; GCR backlog down 14.3% intentionally focused on higher margins.

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