Limbach Holdings Reports Strong Q1 2025 Results

Limbach Holdings ( (LMB) ) has released its Q1 earnings. Here is a breakdown of the information Limbach Holdings presented to its investors.

Limbach Holdings, Inc. is a building systems solutions firm that partners with building owners and facilities managers to provide essential mechanical, electrical, and plumbing infrastructure services, primarily in the healthcare, industrial, and data center sectors across the eastern United States.

Limbach Holdings reported a strong first quarter for 2025, achieving a record net income of $10.2 million and an adjusted EBITDA of $14.9 million, reflecting significant growth compared to the previous year. The company continues to focus on expanding its Owner Direct Relationships (ODR) segment, which now accounts for 67.9% of total revenue.

Key financial highlights include a total revenue increase of 11.9% to $133.1 million, driven by a 21.7% rise in ODR revenue. Gross profit also saw an 18.1% increase, reaching $36.7 million. The company successfully turned around its cash flow from operations, generating $2.2 million compared to a negative cash flow in the same quarter last year. Despite an increase in selling, general, and administrative expenses, Limbach maintained a healthy operating income growth of 21.1%.

Limbach’s strategic focus on the ODR segment has resulted in higher margins and more predictable revenue streams, positioning the company for continued growth. The management remains confident in achieving its full-year guidance, supported by strong cash generation and a solid M&A pipeline.

Looking ahead, Limbach Holdings is optimistic about its growth prospects, particularly in the ODR segment, as it continues to leverage its operational execution and market penetration strategies to deliver long-term value to its stockholders.