Limbach reports Q2 adjusted EPS 93c, consensus 77c

Reports Q2 revenue $142.2M, consensus $144.21M. The company said, “We delivered strong second quarter performance, with improvement in key metrics year over year – clear evidence that our strategic shift to higher margin ODR business is driving meaningful results. During the quarter, ODR revenue grew 31.7%, representing 76.6% of total revenue, up from approximately 21% of total revenue during the second quarter of 2019 which was the year that we started the transition. In addition, ODR gross profit grew 24.6%, representing 79.3% of total gross profit. Our strategic focus on the ODR segment is yielding measurable value as we expand margins, reduce risk, and generate more predictable revenue and profits. This momentum continues to build, reinforcing our confidence in our growth strategy and Limbach’s (LMB) position as a leading provider of essential building systems solutions for existing critical infrastructure.”