Limbach Q3 revenue beats estimates on organic growth

Overview

• US building systems firm's Q3 revenue rose 25% yr/yr, beating analyst expectations

• Adjusted EBITDA for Q3 rose 26% yr/yr

• Company expects FY 2026 revenue and adjusted EBITDA at or near high end of guidance

Outlook

• Company expects 2026 revenue at or near the high end of $760 mln-$790 mln range

• Company sees 2026 adjusted EBITDA at or near the high end of $78 mln-$84 mln

Result Drivers

• ORGANIC GROWTH - Co said Q3 revenue growth was driven by improved customer activity and a return to organic growth in owner-direct business, per CEO Michael McCann

• ACQUISITIONS - Revenue growth included contributions from newly acquired 1901 and CYMCOR businesses, which accounted for $19.3 mln in Q3 revenue

• GCR SEGMENT - Significant revenue growth in general contractor relationships segment, with both organic and acquisition-related gains

Company press release:

Key Details

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 1 "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 $80.00, about 70.5% above its November 2 closing price of $46.93

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 16 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)