Limbach Holdings Reports Strong Q3 2025 Results

Limbach Holdings ( (LMB) ) has released its Q3 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 across various sectors, providing essential mechanical, electrical, and plumbing infrastructure services. The company operates primarily in the eastern United States with a focus on six vertical markets including healthcare and data centers.

In its third quarter of 2025, Limbach Holdings reported a net income of $8.8 million and an adjusted EBITDA of $21.8 million, showcasing a significant increase in revenue and profitability compared to the same period last year. The company reaffirmed its full-year revenue guidance, indicating confidence in its ongoing strategic initiatives.

Key highlights from the earnings report include a 37.8% increase in total revenue to $184.6 million, largely driven by acquisitions and a strategic shift towards higher-margin Owner Direct Relationships (ODR) business, which now constitutes 76.6% of total revenue. The acquisition of Pioneer Power has expanded Limbach’s market presence and contributed significantly to its revenue growth, despite its current lower margin profile.

Limbach’s management expressed satisfaction with the company’s performance, emphasizing the success of its strategic transition towards the ODR business model, which is expected to continue driving growth and improving revenue consistency. The company also noted an increase in gross profit and a decrease in SG&A expenses as a percentage of revenue, reflecting operational efficiencies.

Looking ahead, Limbach Holdings remains optimistic about its growth prospects, maintaining its full-year revenue and adjusted EBITDA guidance. The company plans to continue leveraging acquisitions and strategic initiatives to enhance its market position and deliver long-term value to shareholders.