Limbach (LMB) Q4 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

Limbach Holdings delivered a tale of two metrics in Q4 2025, posting adjusted diluted EPS of $1.40 against a consensus estimate of $1.24, a beat of 13.34%, even as revenue of $186.87 million fell 5.41% short of the $197.56 million analysts had expect… Read more Limbach Holdings delivered a tale of two metrics in Q4 2025, posting adjusted diluted EPS of $1.40 against a consensus estimate of $1.24, a beat of 13.34%, even as revenue of $186.87 million fell 5.41% short of the $197.56 million analysts had expected. The top-line miss did little to obscure the underlying momentum in the business; total revenue still climbed 30.1% year over year, powered largely by the company's accelerating pivot toward Owner Direct Relationships, where revenue surged 51.8% to $144.97 million and now accounts for 77.6% of total sales. The Pioneer Power acquisition, while a key growth catalyst, compressed ODR gross margins to 25.1% from 32.1%, a dynamic management acknowledged and framed as a near-term integration challenge with margin recovery expected through 2026. With analysts broadly maintaining buy ratings and a consensus price target implying meaningful upside from current levels, investor attention now turns to Limbach's 2026 guidance of $730 million to $760 million in revenue and $90 million to $94 million in adjusted EBITDA, underpinned by ODR organic growth targets of 9% to 12%.