Building systems provider Limbach raises annual revenue guidance
Overview
Limbach Holdings Inc Q2 revenue rises 16.4% yr/yr but misses analyst expectations
Adjusted EBITDA for Q2 grows 30%, driven by Owner Direct Relationships segment
Co, which focuses on installation and maintenance of mechanical, electrical, and plumbing systems, raises FY 2025 revenue guidance
Outlook
Limbach raises full-year 2025 revenue guidance to $650 mln - $680 mln
Company increases 2025 adjusted EBITDA guidance to $80 mln - $86 mln
Result Drivers
ODR GROWTH - Revenue from Owner Direct Relationships grew 31.7%, driven by strategic focus on higher-margin business
MARGIN EXPANSION - Increased gross profit attributed to higher-margin ODR segment work
STRATEGIC INVESTMENTS - Co invests in sales organization to enhance national account approach and customer collaboration
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $142.24 mln | $144.20 mln (4 Analysts) |
Q2 Net Income | $7.76 mln | ||
Q2 Gross Profit | $39.83 mln | ||
Q2 Operating Expenses | $29.18 mln | ||
Q2 Operating Income | $10.64 mln | ||
Q2 Pretax Profit | $10.76 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Limbach Holdings Inc is $141.50, about 4.7% above its August 4 closing price of $134.84
The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 29 three months ago
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