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Dec 31, 2023
Limbach Q4 2023 Earnings Report
Reported fourth quarter and 2023 results, with ODR segment revenue up 22.8% year-over-year and gross margin increased to 23.3%.
Key Takeaways
Limbach Holdings, Inc. reported a slight decrease in consolidated revenue but an increase in gross profit and net income for the fourth quarter of 2023. The ODR segment showed significant growth in revenue and gross profit, while the GCR segment experienced a decrease in revenue.
Consolidated revenue decreased slightly by 0.6% to $142.7 million.
Gross profit increased by 14.0% to $33.3 million.
Net income increased to $5.2 million, or $0.44 per diluted share.
ODR segment revenue increased by 22.8% to $78.6 million, while GCR segment revenue decreased by 19.4% to $64.1 million.
Forward Guidance
The Company provided initial 2024 full year guidance with revenue between $510 million and $530 million and Adjusted EBITDA between $49 million and $53 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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