earnings
confidence high
sentiment negative
materiality 0.80
Limbach Q2 revenue up 22% to $173.5M but net income down 39%; acquires CYMCOR for $30M
Limbach Holdings, Inc.
- Q2 revenue $173.5M (+21.9% YoY), net income $4.7M ($0.39 diluted EPS) vs $7.8M ($0.64) prior year.
- Adjusted EBITDA $13.9M vs $17.9M prior year; full-year guidance revised: revenue $760-790M (up), Adj. EBITDA $78-84M (down from $90-94M).
- Acquired CYMCOR for $30M cash/debt; CYMCOR expected to contribute ~$12M revenue and $4M adjusted EBITDA in 2027.
- ODR revenue 74% of total; bookings $182M with 1.1x book-to-bill.
- Gross margin fell to 21.5% from 28.0% due to Pioneer Power integration and project timing.