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Mar 31, 2022
Limbach Q1 2022 Earnings Report
Reported a 1.3% increase in consolidated revenue and improved gross margins to 16.0%.
Key Takeaways
Limbach Holdings, Inc. reported a slight increase in consolidated revenue, driven by strong growth in the ODR segment, and improved gross margins. The company is focusing on serving facility owners and expects business activity to be back half-loaded, similar to 2021.
Consolidated revenue increased by 1.3% compared to Q1 2021.
ODR segment revenue increased by 50.3% year-over-year.
Gross margins improved to 16.0% from 15.2% in Q1 2021.
ODR backlog grew by 9.1% from December 31, 2021, and 102.3% from March 31, 2021.
Limbach
Limbach
Forward Guidance
Limbach expects consolidated revenue to be in the range of $510 million to $540 million with Adjusted EBITDA of between $25 million and $29 million for 2022.