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Sep 30, 2023
Limbach Q3 2023 Earnings Report
Limbach's financial performance increased in Q3 2023, driven by growth in ODR segment and improved gross margins.
Key Takeaways
Limbach Holdings reported a 4.4% increase in consolidated revenue, reaching $127.8 million, and a 25.7% increase in gross profit to $31.2 million. Net income rose to $7.2 million, or $0.61 per diluted share, compared to $3.6 million, or $0.34 per diluted share in the same quarter of the previous year. Adjusted EBITDA increased by 33.6% to $13.6 million.
Consolidated revenue increased by 4.4% to $127.8 million.
Gross profit increased by 25.7% to $31.2 million, with gross margin up to 24.5%.
Net income increased to $7.2 million, or $0.61 per diluted share.
Adjusted EBITDA increased by 33.6% to $13.6 million.
Forward Guidance
Limbach is updating its guidance for FY 2023 with revenue expected to be in the range of $490 million to $520 million and Adjusted EBITDA expected to be in the range of $42 million to $45 million.
Positive Outlook
- Revenue guidance maintained at $490 million - $520 million.
- Adjusted EBITDA guidance increased to $42 million - $45 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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