Limbach/$LMB

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About Limbach

Limbach Holdings Inc is a building systems solutions firm that designs, delivers, and maintains mechanical (heating, ventilation, and air conditioning), electrical, plumbing, and controls (MEPC) systems. The Company partners with owners and operators of facilities across healthcare, industrial and manufacturing, data centers, life sciences, higher education, and cultural and entertainment markets. It operates through two segments: Owner Direct Relationships (ODR), which generates maximum revenue and includes owner direct projects, maintenance, and service on MEPC systems; and General Contractor Relationships (GCR), which manages new construction or renovation projects involving MEPC systems awarded by general contractors or construction managers.
Ticker
$LMB
Primary listing
NASDAQ
Employees
1,600

Limbach Metrics

BasicAdvanced
$579M
19.34
$2.51
1.41
-

What the Analysts think about Limbach

Analyst ratings (Buy, Hold, Sell) for Limbach stock.
Analyst projections of the future price of Limbach stock.

Bulls say / Bears say

Demand indicators remain solid: Limbach reported $209.1 million of first-quarter bookings at a 1.5x book-to-bill ratio, followed by $182.0 million in the second quarter at 1.1x. This gives the company a sizeable order base to convert into future revenue. (Last10K, Last10K)
The higher-quality Owner Direct Relationships segment accounted for 74% of second-quarter revenue, while operating cash flow rose to $18.7 million from $2.0 million a year earlier. Strong cash conversion could help Limbach fund investment and reduce borrowings as the business grows. (Last10K)
Recent acquisitions broaden Limbach’s growth platform. CYMCOR adds programme management and commissioning expertise for data-centre customers, while 1901 expands the company’s Midwest footprint and adds its largest electrical operation to date. (Limbach, Limbach)
Profitability has weakened sharply despite higher revenue. Second-quarter gross margin fell to 21.5% from 28.0%, and Limbach cut full-year adjusted EBITDA guidance to $78–84 million from $90–94 million. (Last10K)
Reported growth is increasingly acquisition-led rather than organic. Of the $31.2 million second-quarter revenue increase, $30.9 million came from the Pioneer Power acquisition, while organic revenue increased only slightly and organic ODR revenue fell 3.4%. (Last10K)
Several operating headwinds could delay a recovery. Management cited softness and price sensitivity in healthcare and institutional markets, while competition for skilled labour and materials in data-centre construction pressured costs; GCR gross margin fell to 14.5% from 24.7%. (The Motley Fool, Last10K)
Data summarised monthly by Lightyear AI. Last updated on 28 Sept 2026.

Limbach Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

Limbach Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise

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