Limbach reports Q1 net income up 153.5%; raises FY2024 Adjusted EBITDA guidance

Limbach Holdings, Inc.

2024-Q1 EPS reported $0.64 revenue$118,976,000

ODR revenue up 26.5% to $74.3M, 62.4% of total; consolidated revenue down 1.7% to $119.0M (intentional shift).
Net income $7.6M ($0.64 diluted EPS) vs $3.0M ($0.27) YoY; Adjusted EBITDA $11.8M, up 35.4%.
FY2024 Adjusted EBITDA guidance raised to $51-55M (from $49-53M); revenue guidance unchanged $510-530M.
Record consolidated gross margin 26.1%; ODR gross profit 71.3% of total; ODR % of revenue goal raised to 65-70%.
Cash $48.2M, current ratio 1.60x; net cash used in ops ($3.9M) vs provided $9.4M prior year.

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 0.99

Limbach Holdings, Inc. reported the quarter ended March 31, 2024 results: revenue $119.0 million, net income $7.6 million, EPS $0.64 per diluted share. Guidance raised.

Period: the quarter ended March 31, 2024
Revenue: $119.0 million
Net income: $7.6 million
EPS: $0.64 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Compared to 2023 First Quarter • ODR revenue increased 26.5%, or $15.5 million, to $74.3 million accounting for 62.4% of consolidated revenue. • Consolidated revenue was $119.0 million, a decrease of 1.7% from $121.0 million. • Total gross profit was $31.1 million, an increase of 18.5% from $26.2 million. • ODR gross profit accounted for $22.2 million, or

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Source: SEC EDGAR

accession 0001628280-24-021718

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