Loading...
•
Dec 31, 2021
Limbach Q4 2021 Earnings Report
Reported increased gross profit and net income, driven by growth in the ODR segment and improved GCR margins
Key Takeaways
Limbach Holdings reported a decrease in revenue for Q4 2021, but net income increased due to improved gross profit and reduced interest expense. The ODR segment saw revenue growth, while the GCR segment experienced a decline. The company is focused on higher margin projects and risk management.
Q4 2021 revenue decreased by 2.7% year-over-year to $126.8 million.
Gross margin increased to 20.1% from 14.3% due to gross profit write-ups and higher GCR margins.
Net income increased to $4.3 million, compared to $0.4 million in the prior year.
Adjusted EBITDA increased by 112.5% to $9.5 million.
Limbach
Limbach
Forward Guidance
Limbach's 2022 sales and project scheduling are governed by their risk management methodology.
Positive Outlook
- Proposal activity is above levels at this time a year ago.
- Securing a range of project wins in both segments.
- Being selective on pricing.
- Bottom-line focused approach.
- Risk management methodology governing sales and project scheduling.