Overview

* Limbach ( LMB ) Q3 revenue grows 37.8% yr/yr, beating analyst expectations

* Adjusted EBITDA for Q3 rises 25.6%, reflecting strategic focus on ODR

* Company reaffirms FY 2025 revenue guidance of $650 mln to $680 mln

Outlook

* Limbach ( LMB ) reaffirms FY 2025 revenue guidance of $650 mln to $680 mln

* Company expects full-year ODR organic revenue growth of 20% to 25%

* Limbach ( LMB ) revises gross margin outlook due to Pioneer Power revenue

Result Drivers

* ODR REVENUE GROWTH - ODR revenue increased 52.0%, driven by strategic focus on higher margin business, now 76.6% of total revenue

* ACQUISITIONS - Revenue growth primarily due to acquisitions, with Pioneer Power exceeding expectations

* MARGIN IMPACT - Lower gross margins due to Pioneer Power's current margin profile, with plans to improve

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $184.58 $184.48

Revenue mln mln (4

Analysts

)

Q3 Net $8.78

Income mln

Q3 Gross $44.68

Profit mln

Q3 $31.34

Operatin mln

g

Expenses

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 ( LMB ) is $129.50, about 27.8% above its November 3 closing price of $93.45

* The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 36 three months ago

Press Release:

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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.)