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Mar 31, 2021
Limbach Q1 2021 Earnings Report
Achieved gross margin increase to 15.2% due to owner-direct shift acceleration.
Key Takeaways
Limbach Holdings reported a decrease in consolidated revenues by 18.3% to $113.3 million, but an increase in gross margin to 15.2%. The company is focusing on higher margin opportunities for strategic customers and shifting towards an owner-driven business model.
Gross margin improved to 15.2%, up from 13.1% year-over-year.
Consolidated revenue decreased by 18.3% to $113.3 million.
GCR segment revenue decreased by 22.5% year-over-year, while ODR segment revenue remained relatively flat.
Net loss for the quarter was $2.3 million, compared to a net loss of $0.1 million in the prior year.
Limbach
Limbach
Forward Guidance
Limbach forecasts revenue to be between $480 million and $520 million, and Adjusted EBITDA of $23 million to $27 million for the full year 2021.