Limbach (LMB)
Market Price (11/9/2026): $53.465 | Market Cap: $627.2 MilSector: Industrials | Industry: Building Products
Limbach (LMB)
Market Price (11/9/2026): $53.465Market Cap: $627.2 MilSector: IndustrialsIndustry: Building Products
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% Attractive yieldFCF Yield is 9.0% Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, and Electrification of Everything. Themes include Building Management Systems, Show more. | Weak multi-year price returns2Y Excs Rtn is -59% | Key risksLMB key risks include [1] financial disruption from potential U.S. Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% |
| Attractive yieldFCF Yield is 9.0% |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, and Electrification of Everything. Themes include Building Management Systems, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -59% |
| Key risksLMB key risks include [1] financial disruption from potential U.S. Show more. |
Qualitative Assessment
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Updated on 11/5/2026
Limbach (LMB) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Disappointing Fiscal Q2 2026 Earnings and Reduced Profitability Outlook.
Limbach's stock experienced a significant decline following its fiscal second-quarter 2026 earnings report released on August 4, 2026. The company reported adjusted earnings per share of $0.64, missing analyst estimates by 31.9%. Revenue for the quarter also fell short, coming in at $173.45 million against expectations, a miss of 2.2%. More critically, the gross margin compressed by 650 basis points year-over-year to 21.5% from 28.0%. Consequently, Limbach reduced its full-year 2026 Adjusted EBITDA guidance to a range of $78 million to $84 million, down from its prior forecast of $90 million to $94 million. This announcement directly contributed to a 25.82% drop in the stock price on August 4, 2026.
2. Persistent Margin Pressure and Project Timing Delays.
The compression in gross margin during fiscal Q2 2026 was attributed to a less favorable mix of work, including lower-margin contributions from the Pioneer Power acquisition, coupled with general weakness in the healthcare market and heightened labor competition in data center projects. Management noted that customer budget decisions and project timing issues had been difficult to predict during the first half of fiscal 2026, particularly affecting the healthcare and institutional markets, with these issues only beginning to resolve in fiscal Q3 2026. This prolonged uncertainty surrounding project execution and profitability weighed on investor confidence.
Show more
Limbach (LMB) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Disappointing Fiscal Q2 2026 Earnings and Reduced Profitability Outlook.
Limbach's stock experienced a significant decline following its fiscal second-quarter 2026 earnings report released on August 4, 2026. The company reported adjusted earnings per share of $0.64, missing analyst estimates by 31.9%. Revenue for the quarter also fell short, coming in at $173.45 million against expectations, a miss of 2.2%. More critically, the gross margin compressed by 650 basis points year-over-year to 21.5% from 28.0%. Consequently, Limbach reduced its full-year 2026 Adjusted EBITDA guidance to a range of $78 million to $84 million, down from its prior forecast of $90 million to $94 million. This announcement directly contributed to a 25.82% drop in the stock price on August 4, 2026.
2. Persistent Margin Pressure and Project Timing Delays.
The compression in gross margin during fiscal Q2 2026 was attributed to a less favorable mix of work, including lower-margin contributions from the Pioneer Power acquisition, coupled with general weakness in the healthcare market and heightened labor competition in data center projects. Management noted that customer budget decisions and project timing issues had been difficult to predict during the first half of fiscal 2026, particularly affecting the healthcare and institutional markets, with these issues only beginning to resolve in fiscal Q3 2026. This prolonged uncertainty surrounding project execution and profitability weighed on investor confidence.
Show more
Updated on 11/5/2026
Limbach (LMB) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Disappointing Fiscal Q2 2026 Earnings and Reduced Profitability Outlook.
Limbach's stock experienced a significant decline following its fiscal second-quarter 2026 earnings report released on August 4, 2026. The company reported adjusted earnings per share of $0.64, missing analyst estimates by 31.9%. Revenue for the quarter also fell short, coming in at $173.45 million against expectations, a miss of 2.2%. More critically, the gross margin compressed by 650 basis points year-over-year to 21.5% from 28.0%. Consequently, Limbach reduced its full-year 2026 Adjusted EBITDA guidance to a range of $78 million to $84 million, down from its prior forecast of $90 million to $94 million. This announcement directly contributed to a 25.82% drop in the stock price on August 4, 2026.
2. Persistent Margin Pressure and Project Timing Delays.
The compression in gross margin during fiscal Q2 2026 was attributed to a less favorable mix of work, including lower-margin contributions from the Pioneer Power acquisition, coupled with general weakness in the healthcare market and heightened labor competition in data center projects. Management noted that customer budget decisions and project timing issues had been difficult to predict during the first half of fiscal 2026, particularly affecting the healthcare and institutional markets, with these issues only beginning to resolve in fiscal Q3 2026. This prolonged uncertainty surrounding project execution and profitability weighed on investor confidence.
3. Analyst Downgrades and Price Target Reductions.
Following the lower-than-expected fiscal Q2 2026 results and revised guidance, several investment firms adjusted their ratings and price targets for Limbach. On August 21, 2026, JPMorgan Chase & Co. downgraded Limbach from a "neutral" to an "underweight" rating and lowered its price target from $60.00 to $50.00. Similarly, Royal Bank Of Canada set a $50.00 target price on the same date. Further, Stifel Nicolaus reduced its price objective from $86.00 to $75.00 on October 8, 2026. These downward revisions in analyst sentiment likely contributed to sustained selling pressure on the stock.
Show less
Limbach (LMB) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Disappointing Fiscal Q2 2026 Earnings and Reduced Profitability Outlook.
Limbach's stock experienced a significant decline following its fiscal second-quarter 2026 earnings report released on August 4, 2026. The company reported adjusted earnings per share of $0.64, missing analyst estimates by 31.9%. Revenue for the quarter also fell short, coming in at $173.45 million against expectations, a miss of 2.2%. More critically, the gross margin compressed by 650 basis points year-over-year to 21.5% from 28.0%. Consequently, Limbach reduced its full-year 2026 Adjusted EBITDA guidance to a range of $78 million to $84 million, down from its prior forecast of $90 million to $94 million. This announcement directly contributed to a 25.82% drop in the stock price on August 4, 2026.
2. Persistent Margin Pressure and Project Timing Delays.
The compression in gross margin during fiscal Q2 2026 was attributed to a less favorable mix of work, including lower-margin contributions from the Pioneer Power acquisition, coupled with general weakness in the healthcare market and heightened labor competition in data center projects. Management noted that customer budget decisions and project timing issues had been difficult to predict during the first half of fiscal 2026, particularly affecting the healthcare and institutional markets, with these issues only beginning to resolve in fiscal Q3 2026. This prolonged uncertainty surrounding project execution and profitability weighed on investor confidence.
3. Analyst Downgrades and Price Target Reductions.
Following the lower-than-expected fiscal Q2 2026 results and revised guidance, several investment firms adjusted their ratings and price targets for Limbach. On August 21, 2026, JPMorgan Chase & Co. downgraded Limbach from a "neutral" to an "underweight" rating and lowered its price target from $60.00 to $50.00. Similarly, Royal Bank Of Canada set a $50.00 target price on the same date. Further, Stifel Nicolaus reduced its price objective from $86.00 to $75.00 on October 8, 2026. These downward revisions in analyst sentiment likely contributed to sustained selling pressure on the stock.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -25.5% change in LMB stock from 7/31/2026 to 11/8/2026 was primarily driven by a -18.9% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 71.70 | 53.45 | -25.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 653 | 730 | 11.8% |
| Net Income Margin (%) | 5.1% | 4.2% | -16.9% |
| P/E Multiple | 25.4 | 20.6 | -18.9% |
| Shares Outstanding (Mil) | 12 | 12 | -1.1% |
| Cumulative Contribution | -25.5% |
Market Drivers
7/31/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| LMB | -25.5% | |
| Market (SPY) | -1.6% | 32.8% |
| Sector (XLI) | -9.5% | 18.5% |
Fundamental Drivers
The -46.4% change in LMB stock from 4/30/2026 to 11/8/2026 was primarily driven by a -30.7% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 99.77 | 53.45 | -46.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 647 | 730 | 12.8% |
| Net Income Margin (%) | 6.0% | 4.2% | -29.9% |
| P/E Multiple | 29.7 | 20.6 | -30.7% |
| Shares Outstanding (Mil) | 12 | 12 | -2.2% |
| Cumulative Contribution | -46.4% |
Market Drivers
4/30/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| LMB | -46.4% | |
| Market (SPY) | 2.6% | 22.1% |
| Sector (XLI) | -6.6% | 12.8% |
Fundamental Drivers
The -43.4% change in LMB stock from 10/31/2025 to 11/8/2026 was primarily driven by a -33.9% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 94.48 | 53.45 | -43.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 553 | 730 | 32.0% |
| Net Income Margin (%) | 6.4% | 4.2% | -33.7% |
| P/E Multiple | 31.1 | 20.6 | -33.9% |
| Shares Outstanding (Mil) | 12 | 12 | -2.2% |
| Cumulative Contribution | -43.4% |
Market Drivers
10/31/2025 to 11/8/2026| Return | Correlation | |
|---|---|---|
| LMB | -43.4% | |
| Market (SPY) | 8.7% | 28.5% |
| Sector (XLI) | 5.8% | 27.6% |
Fundamental Drivers
The 79.4% change in LMB stock from 10/31/2023 to 11/8/2026 was primarily driven by a 42.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.80 | 53.45 | 79.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 512 | 730 | 42.6% |
| Net Income Margin (%) | 3.1% | 4.2% | 37.4% |
| P/E Multiple | 20.1 | 20.6 | 2.3% |
| Shares Outstanding (Mil) | 11 | 12 | -10.5% |
| Cumulative Contribution | 79.4% |
Market Drivers
10/31/2023 to 11/8/2026| Return | Correlation | |
|---|---|---|
| LMB | 79.4% | |
| Market (SPY) | 81.9% | 34.5% |
| Sector (XLI) | 72.0% | 37.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LMB Return | -27% | 16% | 337% | 88% | -9% | -31% | 333% |
| Peers Return | 55% | -6% | 49% | 16% | 30% | 7% | 248% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| LMB Win Rate | 42% | 42% | 75% | 67% | 42% | 45% | |
| Peers Win Rate | 63% | 50% | 60% | 53% | 53% | 44% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| LMB Max Drawdown | -61% | -44% | -23% | -25% | -56% | -64% | |
| Peers Max Drawdown | -18% | -41% | -29% | -24% | -26% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: WTS, WMS, GFF, UFPI, PPIH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)
How Low Can It Go
| Event | LMB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.1% | -18.8% |
| % Gain to Breakeven | 25.2% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -10.2% | -7.8% |
| % Gain to Breakeven | 11.4% | 8.5% |
| Time to Breakeven | 2 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.8% | -24.5% |
| % Gain to Breakeven | 71.7% | 32.4% |
| Time to Breakeven | 135 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.7% | -33.7% |
| % Gain to Breakeven | 71.5% | 50.9% |
| Time to Breakeven | 134 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -66.8% | -19.2% |
| % Gain to Breakeven | 200.8% | 23.8% |
| Time to Breakeven | 688 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -27.0% | -3.7% |
| % Gain to Breakeven | 37.0% | 3.9% |
| Time to Breakeven | 2112 days | 6 days |
In The Past
Limbach's stock fell -20.1% during the 2025 US Tariff Shock. Such a loss loss requires a 25.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | LMB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.1% | -18.8% |
| % Gain to Breakeven | 25.2% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -41.8% | -24.5% |
| % Gain to Breakeven | 71.7% | 32.4% |
| Time to Breakeven | 135 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.7% | -33.7% |
| % Gain to Breakeven | 71.5% | 50.9% |
| Time to Breakeven | 134 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -66.8% | -19.2% |
| % Gain to Breakeven | 200.8% | 23.8% |
| Time to Breakeven | 688 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -27.0% | -3.7% |
| % Gain to Breakeven | 37.0% | 3.9% |
| Time to Breakeven | 2112 days | 6 days |
In The Past
Limbach's stock fell -20.1% during the 2025 US Tariff Shock. Such a loss loss requires a 25.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Limbach (LMB)
Limbach Holdings, Inc. (LMB) is an integrated building systems solutions company that specializes in the design, installation, management, and maintenance of critical infrastructure within large commercial and institutional buildings across the United States. Their core expertise lies in mechanical, electrical, and plumbing (MEP) systems, alongside heating, ventilation, and air-conditioning (HVAC) systems. The company provides a comprehensive lifecycle approach, from initial engineering and prefabrication to final installation and ongoing operational support.
The company's main services include mechanical construction, HVAC service and maintenance, energy audits and retrofits, and comprehensive engineering and design-build solutions. They emphasize modern construction methods, such as offsite prefabrication, for enhanced efficiency and quality. Limbach also offers constructability evaluations, equipment and materials selection, and sustainable building practices. They engage with clients through both direct owner relationships and partnerships with general contractors.
Limbach serves a broad and diversified client base across multiple sectors. Key markets include healthcare facilities like hospitals and research centers, educational institutions from K-12 to universities, and large entertainment venues such as sports arenas. They also cater to government agencies, transportation hubs (airports and rail), commercial properties including office buildings, hotels, and data centers, and various industrial manufacturing facilities.
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Here are 1-2 brief analogies for Limbach (LMB):
They're like an Otis Elevator, but for a building's entire internal network of HVAC, plumbing, electrical, and control systems, handling everything from design to long-term maintenance.
Imagine a Trane or Carrier, but expanded to design, install, and maintain *all* major internal building systems – HVAC, plumbing, electrical, and controls.
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- Integrated Building Systems Solutions: Provides design, prefabrication, installation, management, and maintenance for mechanical, electrical, plumbing, control, and HVAC systems.
- Mechanical Construction: Offers specialized construction services for mechanical building components as part of its facility services.
- HVAC Service and Maintenance: Delivers ongoing service, maintenance, and repair for heating, ventilation, and air-conditioning systems.
- Energy Audits and Retrofits: Conducts evaluations to identify energy-saving opportunities and implements retrofit solutions for improved efficiency.
- Engineering and Design-Build Services: Provides comprehensive engineering and design capabilities, from initial concept to project completion.
- Offsite/Prefabrication Construction: Utilizes prefabrication and offsite construction methods to optimize project delivery and quality.
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Limbach (LMB) primarily serves a diverse range of institutional and commercial clients. The provided background description does not list specific names of customer companies or their symbols.
However, it identifies the following major categories of organizations and facilities that it serves:
- Healthcare and Education: This includes research, acute care, and inpatient hospitals, as well as public and private colleges, universities, research centers, and K-12 facilities.
- Commercial and Entertainment: This category encompasses sports arenas, entertainment facilities, amusement rides, hotels, resorts, office buildings, and other commercial structures, including data centers.
- Infrastructure and Industrial: Limbach also serves passenger terminals and maintenance facilities for rail and airports, various government facilities (federal, state, and local agencies), and industrial manufacturing facilities.
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Mike McCann, President and Chief Executive Officer
Mike McCann serves as the President and Chief Executive Officer of Limbach Holdings, Inc.. He was noted as holding this position as of January 2026.
Jayme Brooks, Executive Vice President and Chief Financial Officer
Jayme Brooks joined Limbach as Executive Vice President and Chief Financial Officer, effective October 1, 2019, reporting directly to the CEO. Prior to Limbach, Ms. Brooks spent 14 years at Capstone Turbine Corp., where her roles included Executive Vice President and Chief Financial Officer, Chief Financial Officer and Chief Accounting Officer, Vice President of Finance and Chief Accounting Officer, Vice President of Financial Planning and Analysis, and Director of Financial Reporting. Earlier in her career, she was Vice President and Controller of Computer Patent Annuities North America LLC. Ms. Brooks is a Certified Public Accountant (active) licensed in California. She has extensive experience in cash optimization, controlling expenses, and leading efforts to raise capital. At Limbach, she has been instrumental in fortifying the balance sheet as a competitive advantage and integrating newly acquired companies into Limbach's systems and processes.
Nick Angerosa, Executive Vice President, National Customer Solutions
Nick Angerosa was appointed Executive Vice President, National Customer Solutions, effective January 13, 2026. He has been with Limbach for over 13 years and most recently served as President of the Southeast Region. In his current role, he is responsible for leading the company's strategy to support national owner-direct customers across key vertical markets.
Jay Sharp, Executive Vice President, Sales
Jay Sharp's appointment as Executive Vice President, Sales, was effective January 13, 2026. He brings 36 years of experience at Limbach, having most recently served as President of the Midwest and Northeast Regions. He oversees the company's overall sales strategy and growth execution.
Scott Wright, Executive Vice President - Legal & Risk Management
Scott Wright was promoted to Executive Vice President - Legal & Risk Management in July 2023. He joined Limbach in 2006 and has served as general counsel since 2012. Mr. Wright leads the internal Legal and Risk Management Team and is responsible for guiding, implementing, and managing regulatory and policy matters for the public company.
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The key risks to Limbach Holdings, Inc. (LMB) primarily revolve around its growth strategy, operational challenges, and the competitive landscape of its industry.
- Acquisition Integration Challenges: A significant portion of Limbach's growth strategy relies on external growth through acquisitions. The successful integration of these acquired businesses presents a key risk, as flawless execution is not guaranteed and can impact margins, as noted in recent financial periods.
- Skilled Labor Shortages and Supply Chain Disruptions: Limbach's operations are vulnerable to skilled labor shortages, which can put pressure on profit margins. Additionally, the company is susceptible to fluctuations in material and equipment costs, inflationary pressures, and broader supply chain disruptions. These factors can affect profitability, particularly for fixed-price projects, and impact project timelines.
- Intense Competition: Limbach operates in a highly competitive and fragmented industry. This environment means that price often plays a critical role in contract awards, posing a continuous challenge to securing new business and maintaining profitability.
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Limbach Holdings, Inc. (LMB) operates in several key addressable markets within the United States and North America, encompassing mechanical, electrical, and plumbing (MEP) services, HVAC systems and services, facility management, and building automation systems.
Addressable Markets for Limbach Holdings, Inc. (LMB)
Mechanical, Electrical, and Plumbing (MEP) Services
- The North America mechanical, electrical, and plumbing service market was estimated at approximately USD 31.35 billion in 2023. The U.S. held a significant share of 77.5% of this market in 2023.
- Another estimate for the United States MEP Services Market indicates a value of USD 34.90 billion in 2025, projected to reach USD 37 billion in 2026. Additionally, the U.S. MEP Services Market was worth USD 34.61 billion in 2026 and is forecast to grow to USD 47.05 billion by 2031.
HVAC Systems and Services
- The U.S. HVAC systems market size was valued at approximately USD 29.95 billion in 2024. Other estimates place the U.S. HVAC systems market size at USD 31.71 billion in 2025, with a projection to reach USD 54.02 billion by 2033. Another source indicates a value of USD 62 billion for the U.S. HVAC Systems Market based on a five-year historical analysis.
- For HVAC services specifically, the U.S. market was valued at USD 17.93 billion in 2025 and is estimated to grow to USD 25.35 billion by 2031.
- The broader North America HVAC system market size was valued at USD 49.10 billion in 2024 and is projected to grow to USD 75.75 billion by 2032, with the U.S. holding the largest share within this region.
Electrical Services and Construction
- The U.S. electrical services market was valued at USD 163.9 billion in 2024 and is expected to reach USD 294.6 billion by 2034. The electrical construction segment alone generated USD 115 billion in 2024.
- The U.S. electrical contractors market size was valued at USD 237.59 billion in 2023 and is expected to reach USD 256.65 billion by 2029.
Plumbing Services and Components
- The North America plumbing fixtures market size was valued at USD 29.15 billion in 2024, with the U.S. accounting for a dominant 69.8% revenue share in this region in 2024.
- North America's plumbing components market, which includes plumbing services, was valued at approximately USD 38.3 billion in 2025.
Facility Management and Maintenance Services
- The United States facility management market was valued at USD 365.93 billion in 2025 and is projected to reach USD 434.16 billion by 2031. Another estimate places the U.S. Facility Management market size at USD 300.46 billion in 2025, reaching USD 403.42 billion by 2030.
- The U.S. Building Maintenance Services Market was valued at USD 1.4 billion in 2024.
- The North America commercial facility maintenance market was estimated at USD 153.60 billion in 2023, with the U.S. holding the largest revenue share of 77.5% in 2023.
- The global facility management services market was valued at USD 1.75 trillion in 2024, and North America, led by the U.S., held the largest revenue share of 34.6%.
Building Automation and Control Systems
- The North America building automation systems market reached USD 76.57 billion in 2026, with the United States capturing a 78.23% revenue share in 2025.
- The US Building Automation System Market is projected to grow from USD 20.59 billion in 2024 to USD 43.32 billion by 2035.
- North America accounts for approximately 37% of the global Building Management System Market, which was valued at USD 23.19 billion in 2025. The global building management systems market size was estimated at USD 20.25 billion in 2024.
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Expected Drivers of Future Revenue Growth for Limbach Holdings, Inc. (LMB)
- Strategic Shift to Owner Direct Relationships (ODR): Limbach is intentionally transitioning its business mix by scaling down its General Contractor Relationships (GCR) segment and prioritizing Owner Direct Relationships (ODR). This strategic shift is consistently highlighted as a primary driver for both revenue growth and margin expansion. ODR revenue has shown consistent growth and represents an increasing percentage of the company's total revenue.
- Strategic Acquisitions: The company's growth strategy includes a disciplined approach to mergers and acquisitions, encompassing "Tuck-In" and "Expansion" acquisitions. These acquisitions are designed to enhance scale and introduce Limbach to new strategic markets. Recent acquisitions, such as Pioneer Power, have been noted for contributing to overall revenue growth.
- Expansion of Service Offerings and Evolved Customer Solutions: Limbach aims to expand its revenue by deepening existing customer relationships through the provision of evolved service offerings. This includes extending its expertise beyond traditional mechanical, electrical, and plumbing (MEP) systems to deliver comprehensive, turnkey building system solutions. The focus is on optimizing existing buildings for sustainability and cost efficiency, encompassing services like on-demand support, maintenance, critical system repairs, equipment upgrades, and data-driven solutions.
- Growth in Key Vertical Markets, particularly Data Centers: Limbach is focused on mission-critical markets that exhibit durable demand. These key verticals include healthcare, industrial and manufacturing, life sciences, higher education, cultural and entertainment, and notably, data centers. The data center vertical has been specifically identified by management as a significant area for future growth.
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Limbach (LMB) has made several capital allocation decisions over the last 3-5 years.
Share Repurchases
- On December 15, 2025, Limbach's board of directors authorized a share repurchase program, allowing for the purchase of up to $50.0 million of its common stock through December 15, 2027.
- This authorization represents approximately 5.4% of the company's market capitalization at the time it was approved.
- The program is intended to provide flexibility for opportunistic repurchases and help manage potential dilution from incentive compensation programs.
Share Issuance
- The number of outstanding shares for Limbach Holdings has increased over the past few years, reaching 11,626,578 as of February 2026.
- This figure represents an increase from 10.3 million shares in 2021.
- Specifically, shares outstanding were 10.3 million in 2021, 10.41 million in 2022, 10.96 million in 2023, 11.27 million in 2024, and 11.62 million in 2025.
Outbound Investments
- Limbach made strategic acquisitions, including Kent Island Mechanical in Q3 2024 for $13.4 million.
- The company also acquired Consolidated Mechanical in Q4 2024 for $23.2 million.
- On July 1, 2025, Limbach acquired Pioneer Power, Inc. for an initial cash consideration of $66.1 million.
Capital Expenditures
- Limbach invested $251,000 in capital expenditures during the fourth quarter of 2025.
- In the first quarter of 2025, the company invested $2 million in its climate control rental equipment fleet.
Peer Outperformance in Building Products
LMB has outperformed 97% of its 33 Building Products peers over 5Y. Among the peers that beat it is MOD. Building Products ranks 8th of 23 industries in Industrials by median 5Y return.
Share of Building Products constituents that LMB has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
27%
of 37 industry peers · -31.8% return
3Y
69%
of 35 industry peers · 51.5% return
5Y
97%
of 33 industry peers · 622.3% return
Building Products peers with revenue growth within 4pp of LMB's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| LMB | Limbach | 12.5% | 20.6x | -31.8% | 51.5% | 622.3% | — |
| MOD | Modine Manufacturing | 15.3% | 39.7x | -38.2% | 124.3% | 753.4% | +131pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Building Products is LMB's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Marine Transportation | 5 | 28.7% | 34.6% | 109.9% | MATX 149% · KEX 110% |
| Construction Machinery & Heavy Transportation Equipment | 14 | 9.1% | 66.3% | 93.0% | ALSN 261% · WAB 201% · CAT 183% |
| Construction & Engineering | 28 | -21.4% | 94.1% | 91.9% | FIX 948% · STRL 785% · AGX 563% |
| Aerospace & Defense | 54 | -2.0% | 55.7% | 55.6% | ATI 901% · FTAI 836% · HWM 537% |
| Trading Companies & Distributors | 19 | 11.5% | 30.7% | 29.4% | DXPE 293% · AIT 187% · URI 179% |
| Industrial Machinery & Supplies & Components | 71 | 1.0% | 48.7% | 28.0% | CRS 766% · MLI 290% · SYM 266% |
| Rail Transportation | 7 | 33.7% | 69.8% | 24.9% | CSX 48% · UNP 36% · NSC 25% |
| Building Products ← | 34 | -7.3% | 6.8% | 12.8% | MOD 753% · GFF 340% · TT 128% |
| Diversified Support Services | 35 | 15.7% | 39.1% | 11.9% | CXW 197% · OPLN 136% · CTAS 113% |
| Cargo Ground Transportation | 16 | 27.7% | 13.1% | 1.3% | XPO 265% · R 246% · SNDR 17% |
| Office Services & Supplies | 10 | 19.6% | 25.3% | -2.8% | PBI 146% · HNI 39% · MSA 17% |
| Industrial Conglomerates | 17 | 14.5% | 8.0% | -4.5% | CSW 97% · DD 69% · CSL 68% |
| Electrical Components & Equipment | 39 | -7.8% | 58.1% | -7.7% | POWL 1421% · VRT 567% · BE 387% |
| Data Processing & Outsourced Services | 6 | -10.2% | 2.7% | -13.5% | EXLS 59% · BR 19% · G -10% |
| Research & Consulting Services | 13 | 0.5% | -11.2% | -24.9% | HURN 212% · FCN 37% · BAH 7% |
| Agricultural & Farm Machinery | 16 | 14.8% | -3.4% | -26.2% | DE 99% · TTC 14% · AGCO 2% |
| Security & Alarm Services | 9 | -47.2% | 35.9% | -28.5% | BCO 72% |
| Environmental & Facilities Services | 29 | -22.8% | 26.2% | -30.4% | GEO 194% · CLH 164% · RSG 97% |
| Passenger Airlines | 11 | 4.0% | 75.4% | -33.9% | LTM 3031% · UAL 112% · DAL 103% |
| Air Freight & Logistics | 12 | -31.2% | -8.1% | -40.8% | FDX 71% · EXPD 56% · CHRW 49% |
| Human Resource & Employment Services | 22 | 22.1% | -15.8% | -42.2% | ADP 49% · FA 14% · PAYX 12% |
| Passenger Ground Transportation | 3 | -22.5% | 37.0% | -57.3% | UBER 49% · CAR -57% · LYFT -69% |
| Airport Services | 4 | -42.8% | -62.5% | -87.2% | JOBY -37% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Limbach Earnings Notes | 12/16/2025 | |
| Would You Still Hold Limbach Stock If It Fell 30%? | 10/17/2025 | |
| Limbach Total Shareholder Return (TSR): 88.1% in 2024 and 111.8% 3-yr compounded annual returns (above peer average) | 03/07/2025 | |
| Limbach (LMB) Operating Cash Flow Comparison | 02/17/2025 | |
| Limbach (LMB) Net Income Comparison | 02/15/2025 | |
| Limbach (LMB) Operating Income Comparison | 02/15/2025 | |
| Limbach (LMB) Revenue Comparison | 02/13/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 90.43 |
| Mkt Cap | 4.4 |
| Rev LTM | 2,794 |
| Op Inc LTM | 461 |
| FCF LTM | 270 |
| FCF 3Y Avg | 332 |
| CFO LTM | 381 |
| CFO 3Y Avg | 384 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 18.7% |
| Rev Chg 3Y Avg | 4.9% |
| Rev Chg Q | 11.1% |
| QoQ Delta Rev Chg LTM | 2.8% |
| Op Inc Chg LTM | 0.4% |
| Op Inc Chg 3Y Avg | 14.4% |
| Op Mgn LTM | 16.7% |
| Op Mgn 3Y Avg | 17.0% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 11.4% |
| CFO/Rev 3Y Avg | 14.7% |
| FCF/Rev LTM | 9.8% |
| FCF/Rev 3Y Avg | 12.2% |
Price Behavior
Price Behavior
| Market Price | $53.45 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 11/16/2016 | |
| Distance from 52W High | -53.2% | |
| 50 Days | 200 Days | |
| DMA Price | $49.66 | $70.89 |
| DMA Trend | down | down |
| Distance from DMA | 7.6% | -24.6% |
| 3M | 1YR | |
| Volatility | 57.5% | 73.2% |
| Downside Capture | 120.74 | 218.19 |
| Upside Capture | 245.59 | 144.53 |
| Correlation (S&P 500) | 46.9% | 28.7% |
LMB Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.11 | 1.39 | 1.82 | 1.09 | 1.41 | 1.40 |
| Up Beta | 0.57 | -1.46 | 0.94 | -1.26 | 0.59 | 1.21 |
| Down Beta | 3.13 | 3.19 | 0.61 | 2.01 | 1.82 | 1.33 |
| Up Capture | 190% | 201% | 162% | 45% | 104% | 391% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 12 | 24 | 33 | 59 | 119 | 399 |
| Down Capture | 172% | 46% | 317% | 201% | 153% | 110% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 10 | 19 | 31 | 67 | 131 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LMB | |
|---|---|---|---|---|
| LMB | -36.5% | 73.2% | -0.27 | - |
| Sector ETF (XLI) | 7.1% | 17.8% | 0.22 | 27.8% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 28.7% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | 3.4% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | -7.4% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | 11.1% |
| Bitcoin (BTCUSD) | -27.2% | 43.6% | -0.61 | 14.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LMB | |
|---|---|---|---|---|
| LMB | 49.6% | 65.1% | 0.89 | - |
| Sector ETF (XLI) | 10.9% | 17.7% | 0.45 | 34.9% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 32.9% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 6.7% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | 3.6% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 23.1% |
| Bitcoin (BTCUSD) | 4.0% | 51.6% | 0.26 | 17.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LMB | |
|---|---|---|---|---|
| LMB | 12.7% | 64.2% | 0.48 | - |
| Sector ETF (XLI) | 13.0% | 20.1% | 0.56 | 25.1% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 23.5% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 0.9% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 4.4% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 16.4% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 7.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2026 | 16.4% | ||
| 8/4/2026 | -35.5% | -39.8% | -37.0% |
| 5/5/2026 | -32.5% | -36.6% | -26.1% |
| 3/3/2026 | -0.5% | -8.1% | -8.4% |
| 11/4/2025 | -7.5% | -15.1% | -18.8% |
| 8/5/2025 | -18.2% | -18.8% | -16.3% |
| 5/5/2025 | 11.0% | 19.2% | 28.1% |
| 3/10/2025 | 15.6% | 8.8% | 3.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 13 |
| # Negative | 13 | 11 | 11 |
| Median Positive | 16.0% | 19.1% | 28.7% |
| Median Negative | -7.7% | -12.1% | -16.3% |
| Max Positive | 21.9% | 31.7% | 50.0% |
| Max Negative | -35.5% | -39.8% | -37.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2026 | 16.4% | ||
| 8/4/2026 | -35.5% | -39.8% | -37.0% |
| 5/5/2026 | -32.5% | -36.6% | -26.1% |
| 3/3/2026 | -0.5% | -8.1% | -8.4% |
| 11/4/2025 | -7.5% | -15.1% | -18.8% |
| 8/5/2025 | -18.2% | -18.8% | -16.3% |
| 5/5/2025 | 11.0% | 19.2% | 28.1% |
| 3/10/2025 | 15.6% | 8.8% | 3.1% |
| 11/5/2024 | 20.6% | 20.0% | 28.7% |
| 8/6/2024 | 6.3% | 6.4% | 10.1% |
| 5/8/2024 | -1.5% | 4.7% | 18.6% |
| 3/13/2024 | -16.3% | -11.7% | -20.6% |
| 11/8/2023 | 17.9% | 31.7% | 40.1% |
| 8/9/2023 | 21.9% | 14.9% | 30.4% |
| 5/8/2023 | 17.8% | 19.1% | 36.9% |
| 3/8/2023 | 8.9% | 16.6% | 23.4% |
| 11/9/2022 | 19.9% | 20.8% | 50.0% |
| 8/9/2022 | 6.2% | 29.9% | 44.4% |
| 5/10/2022 | -7.7% | 6.5% | 11.2% |
| 3/16/2022 | -4.9% | -4.2% | -8.5% |
| 11/10/2021 | -2.6% | -8.3% | -0.7% |
| 8/12/2021 | -11.1% | -16.2% | -29.3% |
| 5/14/2021 | -9.6% | -12.1% | -11.2% |
| 3/25/2021 | -1.7% | -7.7% | -3.1% |
| 11/12/2020 | 0.0% | 23.8% | 40.1% |
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 13 |
| # Negative | 13 | 11 | 11 |
| Median Positive | 16.0% | 19.1% | 28.7% |
| Median Negative | -7.7% | -12.1% | -16.3% |
| Max Positive | 21.9% | 31.7% | 50.0% |
| Max Negative | -35.5% | -39.8% | -37.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/03/2026 | 10-Q |
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 03/10/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/03/2026 | 10-Q |
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 03/10/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/16/2022 | 10-K |
| 09/30/2021 | 11/10/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/14/2021 | 10-Q |
| 12/31/2020 | 03/25/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-Q |
| 03/31/2020 | 06/15/2020 | 10-Q |
| 12/31/2019 | 05/12/2020 | 10-K |
Recent Forward Guidance
Updated 11/4/2026Latest: Q3 2026 Earnings Reported 11/3/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 760.00 Mil | 775.00 Mil | 790.00 Mil | 0.0% | Affirmed | Guidance: 775.00 Mil for 2026 | |
| 2026 Total organic revenue growth | Reported | 9.0% | 11.5% | 14.0% | 0.0% | Affirmed | Guidance: 11.5% for 2026 | |
| 2026 ODR revenue % of total revenue | Reported | 70.0% | 75.0% | 80.0% | 0.0% | Affirmed | Guidance: 75.0% for 2026 | |
| 2026 ODR organic revenue growth | Reported | 6.0% | 8.0% | 10.0% | 0.0% | Affirmed | Guidance: 8.0% for 2026 | |
| 2026 Gross margin percentage | Reported | 23.0% | 23.5% | 24.0% | 0.0% | Affirmed | Guidance: 23.5% for 2026 | |
| 2026 SG&A expense % of total revenue | Reported | 15.0% | 15.5% | 16.0% | 0.0% | Affirmed | Guidance: 15.5% for 2026 | |
| 2026 Adjusted EBITDA | Reported | 78.00 Mil | 81.00 Mil | 84.00 Mil | 0.0% | Affirmed | Guidance: 81.00 Mil for 2026 | |
| 2026 Free Cash Flow | Reported | 58.50 Mil | 60.75 Mil | 63.00 Mil | ||||
Prior: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 760.00 Mil | 775.00 Mil | 790.00 Mil | 4.0% | Raised | Guidance: 745.00 Mil for 2026 | |
| 2026 Total organic revenue growth | Reported | 9.0% | 11.5% | 14.0% | 5.5% | Raised | Guidance: 6.0% for 2026 | |
| 2026 ODR revenue % of total revenue | Reported | 70.0% | 75.0% | 80.0% | -2.5% | Lowered | Guidance: 77.5% for 2026 | |
| 2026 ODR organic revenue growth | Reported | 6.0% | 8.0% | 10.0% | -2.5% | Lowered | Guidance: 10.5% for 2026 | |
| 2026 Gross margin percentage | Reported | 23.0% | 23.5% | 24.0% | -3.0% | Lowered | Guidance: 26.5% for 2026 | |
| 2026 SG&A expense % of total revenue | Reported | 15.0% | 15.5% | 16.0% | -0.5% | Lowered | Guidance: 16.0% for 2026 | |
| 2026 Adjusted EBITDA | Reported | 78.00 Mil | 81.00 Mil | 84.00 Mil | -12.0% | Lowered | Guidance: 92.00 Mil for 2026 | |
Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 730.00 Mil | 745.00 Mil | 760.00 Mil | 0 | Affirmed | Guidance: 745.00 Mil for 2026 | |
| 2026 Total organic revenue growth | Reported | 4.0% | 6.0% | 8.0% | 0 | Affirmed | Guidance: 6.0% for 2026 | |
| 2026 ODR revenue % of total revenue | Reported | 75.0% | 77.5% | 80.0% | 0 | Affirmed | Guidance: 77.5% for 2026 | |
| 2026 ODR organic revenue growth | Reported | 9.0% | 10.5% | 12.0% | 0 | Affirmed | Guidance: 10.5% for 2026 | |
| 2026 Gross margin percentage | Reported | 26.0% | 26.5% | 27.0% | 0 | Affirmed | Guidance: 26.5% for 2026 | |
| 2026 SG&A expense % of total revenue | Reported | 15.0% | 16.0% | 17.0% | 0 | Affirmed | Guidance: 16.0% for 2026 | |
| 2026 Adjusted EBITDA | Reported | 90.00 Mil | 92.00 Mil | 94.00 Mil | 0 | Affirmed | Guidance: 92.00 Mil for 2026 | |
| 2026 Free cash flow | Reported | 0.75 | 0 | Affirmed | Guidance: 0.75 for 2026 | |||
Q4 2025 Earnings Reported 3/3/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 730.00 Mil | 745.00 Mil | 760.00 Mil | 12.0% | Higher New | Actual: 665.00 Mil for 2025 | |
| 2026 Total organic revenue growth | Reported | 4.0% | 6.0% | 8.0% | -2.5% | Lower New | Actual: 8.5% for 2025 | |
| 2026 ODR revenue % of total revenue | Reported | 75.0% | 77.5% | 80.0% | 2.5% | Higher New | Actual: 75.0% for 2025 | |
| 2026 ODR organic revenue growth | Reported | 9.0% | 10.5% | 12.0% | ||||
| 2026 Gross margin percentage | Reported | 26.0% | 26.5% | 27.0% | 0.5% | Higher New | Actual: 26.0% for 2025 | |
| 2026 SG&A expense % of total revenue | Reported | 15.0% | 16.0% | 17.0% | 0.0% | Same New | Actual: 16.0% for 2025 | |
| 2026 Adjusted EBITDA | Reported | 90.00 Mil | 92.00 Mil | 94.00 Mil | 10.8% | Higher New | Actual: 83.00 Mil for 2025 | |
| 2026 Free cash flow | Reported | 0.75 | 0.0% | Same New | Actual: 0.75 for 2025 | |||
Insider Activity
Updated 9/17/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sharp, Jay | Executive Vice President | Direct | Sell | 9172026 | 50.21 | 5,094 | 255,770 | 3,396,305 | Form |
| 2 | Krzeminski, Laurel J | SEP-IRA | Buy | 9162026 | 50.58 | 500 | 25,288 | 202,300 | Form | |
| 3 | Gaboury, David Richard | Direct | Buy | 9162026 | 51.35 | 1,940 | 99,619 | 369,361 | Form | |
| 4 | Horowitz, Joshua | Direct | Buy | 9152026 | 50.66 | 212 | 10,740 | 2,228,888 | Form | |
| 5 | Horowitz, Joshua | Palm Global Small Cap Master Fund LP | Buy | 9152026 | 50.71 | 4,008 | 203,258 | 8,682,492 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sharp, Jay | Executive Vice President | Direct | Sell | 9172026 | 50.21 | 5,094 | 255,770 | 3,396,305 | Form |
| 2 | Krzeminski, Laurel J | SEP-IRA | Buy | 9162026 | 50.58 | 500 | 25,288 | 202,300 | Form | |
| 3 | Gaboury, David Richard | Direct | Buy | 9162026 | 51.35 | 1,940 | 99,619 | 369,361 | Form | |
| 4 | Horowitz, Joshua | Direct | Buy | 9152026 | 50.66 | 212 | 10,740 | 2,228,888 | Form | |
| 5 | Horowitz, Joshua | Palm Global Small Cap Master Fund LP | Buy | 9152026 | 50.71 | 4,008 | 203,258 | 8,682,492 | Form | |
| 6 | Horowitz, Joshua | Direct | Buy | 9152026 | 49.59 | 1,000 | 49,590 | 2,171,298 | Form | |
| 7 | Horowitz, Joshua | Palm Global Small Cap Master Fund LP | Buy | 9152026 | 49.01 | 2,600 | 127,425 | 8,194,422 | Form | |
| 8 | Sharp, Jay | Executive Vice President | Direct | Sell | 6172026 | 79.82 | 4,871 | 388,799 | 5,863,192 | Form |
| 9 | Brooks, Jayme L | Chief Financial Officer | Direct | Sell | 5012026 | 100.00 | 3,440 | 344,000 | 12,522,700 | Form |
| 10 | Brooks, Jayme L | Chief Financial Officer | Direct | Sell | 4282026 | 100.05 | 2,173 | 217,412 | 12,873,339 | Form |
| 11 | Brooks, Jayme L | Chief Financial Officer | Direct | Sell | 4152026 | 85.43 | 5,703 | 487,190 | 11,177,256 | Form |
| 12 | Brooks, Jayme L | Chief Financial Officer | Direct | Sell | 4102026 | 85.11 | 841 | 71,578 | 11,621,175 | Form |
| 13 | Brooks, Jayme L | Chief Financial Officer | Direct | Sell | 4102026 | 85.19 | 3,366 | 286,764 | 11,704,320 | Form |
| 14 | Brooks, Jayme L | Chief Financial Officer | Direct | Sell | 3182026 | 78.56 | 9,910 | 778,551 | 11,057,623 | Form |
| 15 | Sharp, Jay | Executive Vice President | Direct | Sell | 3182026 | 79.99 | 2,000 | 159,971 | 6,321,017 | Form |
| 16 | Sharp, Jay | Regional President | Direct | Sell | 12162025 | 77.98 | 2,000 | 155,951 | 5,066,769 | Form |
| 17 | Sharp, Jay | Regional President | Direct | Sell | 9172025 | 106.09 | 2,000 | 212,180 | 7,201,071 | Form |
Investor Activity (13F)
Updated Nov 9, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Limbach — Investor Video Playlist
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Investor / Analyst
Mike McCann: Behind the Numbers Q1'26 Recap
Leadership
Limbach CEO Spotlighted on Yahoo Finance After Q1 Earnings Release
Leadership
Limbach CEO, Mike McCann on Schwab Network
Leadership
Driving Innovation & Success: LMB CEO Talks Featured on MarketSite NASDAQ with Kristina Ayanian
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Building Products Resources |
| Building Design+Construction |
| Construction Dive |
| Architectural Record |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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