Limbach Q3 2022 Earnings Report
Key Takeaways
Limbach Holdings, Inc. reported consolidated revenue of $122.4 million for Q3 2022, a decrease of 5.3% compared to Q3 2021. The ODR segment revenue increased by 52.2% year-over-year and accounted for 48.8% of consolidated revenue. Consolidated gross margin improved to 20.3%. Net income was $3.6 million, and Adjusted EBITDA was $10.2 million, up 25.7% from the prior year.
Consolidated revenue was $122.4 million, a decrease of 5.3% from $129.2 million.
ODR segment revenue increased by 52.2% year-over-year, accounting for 48.8% of consolidated revenue.
Consolidated gross margin improved to 20.3% from 18.9%.
Adjusted EBITDA increased by 25.7% to $10.2 million from $8.1 million.
Limbach
Limbach
Forward Guidance
The company tightened revenue guidance and increased Adjusted EBITDA guidance for FY 2022.
Positive Outlook
- Revenue guidance: $510 million - $530 million
- Adjusted EBITDA guidance: $27 million - $30 million