Limbach Holdings demonstrated strong revenue growth and strategic progress, particularly in the ODR segment and through successful acquisitions. However, challenges such as decreased gross margins and increased SG&A expenses indicate areas needing improvement.

Company Guidance

During the Limbach Holdings Third Quarter 2025 Earnings Conference Call, the company reaffirmed its 2025 guidance, projecting total revenue between $650 million and $680 million and adjusted EBITDA ranging from $80 million to $86 million. Limbach highlighted its strategic focus on Owner-Direct Relationships (ODR), which now constitute 76.6% of total revenue, with the goal of maintaining this segment at 70% to 80% of total revenue. The ODR segment experienced a 52% growth, contributing $141.4 million, of which 39.8% was from acquisitions and 12.2% was organic. The company also reported a total revenue increase of 37.8% to $184.6 million for the quarter and a 25.6% rise in adjusted EBITDA to $21.8 million. Despite a decrease in gross margin to 24.2%, primarily due to the recent Pioneer Power acquisition, Limbach emphasized its ongoing integration efforts to improve margins and leverage its unique market positioning for sustained growth and risk-adjusted returns.

Significant Revenue Growth

Total revenue for Q3 2025 increased by 37.8% to $184.6 million compared to $133.9 million in Q3 2024. ODR revenue grew 52% to $141.4 million.

Strong Performance in ODR Segment

ODR revenue accounted for 76.6% of total revenue for the third quarter, up from 69.4% in Q3 2024, aligning with the strategic focus on ODR growth.

Successful Acquisition Integration

The acquisition of Pioneer Power exceeded expectations, contributing significantly to revenue and aligning with the company's strategic goals.

Improved Free Cash Flow

Free cash flow for Q3 2025 increased to $17.9 million from $13 million in Q3 2024, with a free cash flow conversion of adjusted EBITDA at 82%.

Limbach Holdings (LMB) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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LMB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 18, 2026	2025 (Q4)	1.21 / -	1.15	―	―	―
Nov 04, 2025	2025 (Q3)	1.05 / 1.05	0.62	69.35% (+0.43)
Aug 05, 2025	2025 (Q2)	0.77 / 0.93	0.5	86.00% (+0.43)
May 05, 2025	2025 (Q1)	0.43 / 1.12	0.64	75.00% (+0.48)
Mar 10, 2025	2024 (Q4)	0.79 / 1.15	0.44	161.36% (+0.71)
Nov 05, 2024	2024 (Q3)	0.52 / 0.62	0.61	1.64% (+0.01)
Aug 06, 2024	2024 (Q2)	0.37 / 0.50	0.46	8.70% (+0.04)
May 08, 2024	2024 (Q1)	0.34 / 0.64	0.27	137.04% (+0.37)
Mar 13, 2024	2023 (Q4)	0.40 / 0.44	0.35	25.71% (+0.09)
Nov 08, 2023	2023 (Q3)	0.31 / 0.61	0.34	79.41% (+0.27)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

LMB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 04, 2025	$90.80	$84.00	-7.49%
Aug 05, 2025	$134.12	$109.68	-18.22%
May 05, 2025	$103.33	$114.69	+10.99%
Mar 10, 2025	$68.92	$79.69	+15.63%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Limbach Holdings (LMB) report earnings?

Limbach Holdings (LMB) is schdueled to report earning on Mar 18, 2026, After Close (Confirmed).

What is Limbach Holdings (LMB) earnings time?

Limbach Holdings (LMB) earnings time is at Mar 18, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is LMB EPS forecast?

LMB EPS forecast for the fiscal quarter 2025 (Q4) is 1.21.

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