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Dec 31, 2019
Limbach Q4 2019 Earnings Report
Limbach Holdings reported fiscal year 2019 results, with revenue increasing by 1.2% and gross margin expanding to 13.0%.
Key Takeaways
Limbach Holdings reported a 1.2% increase in revenue for fiscal year 2019, with improved gross margins and an 86% improvement in Adjusted EBITDA. However, continuing challenges in the Southern California market weighed on the overall performance.
Fiscal year 2019 revenue increased by 1.2% to $553.3 million.
Gross margin expanded by 210 basis points to 13.0%.
Net loss for the year was $1.8 million.
Adjusted EBITDA increased by 86% to $16.8 million.
Limbach
Limbach
Forward Guidance
Limbach has developed and implemented aggressive cost reduction and liquidity enhancement plans in response to the COVID-19 pandemic, focusing on near-term performance and managing the business with a heightened sense of urgency.
Positive Outlook
- Focusing on near-term performance.
- Managing the business with a heightened sense of urgency.
- Pursuing opportunities with customers that meet their urgent needs, particularly in the healthcare market.
- Continuing to focus on liquidity.
- Aggressive cost reduction and liquidity enhancement plans.
Challenges Ahead
- Uncertainty due to the COVID-19 pandemic.
- Significant headwinds in the last several months.
- Some reduction in construction and service activity.
- Impacts to productivity.
- Premature to speculate about timelines with respect to the virus and its collateral impacts.