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Investing.com -- Limbach Holdings, Inc. (NASDAQ:LMB) saw its stock jump 5.7% after reporting first quarter earnings that significantly exceeded analyst expectations, driven by strong revenue growth and improved profitability.
The building systems solutions firm posted adjusted earnings per share of $1.12 for Q1 2025, handily beating the analyst consensus of $0.43. Revenue came in at $133.1 million, up 11.9% YoY and surpassing estimates of $120.48 million.
Limbach’s net income reached a record $10.2 million, or $0.85 per diluted share, compared to $7.6 million, or $0.64 per diluted share, in the same quarter last year. Adjusted EBITDA rose 26.5% to $14.9 million.
The company’s Owner Direct Relationships (ODR) segment was a key driver of growth, with revenue increasing 21.7% YoY to $90.4 million, now representing 67.9% of total revenue.
"We grew revenue, gross profit, and Adjusted EBITDA, demonstrating the scalability of our business model," said Michael McCann, President and CEO of Limbach. "We believe by expanding the ODR segment, we are substantially enhancing margins, reducing risk, and driving more predictable, reoccurring revenue."
Limbach reaffirmed its full-year 2025 guidance, projecting revenue between $610 million and $630 million, in line with analyst expectations of $611.4 million.
The company’s focus on ODR growth and strategic acquisitions appears to be paying off, with gross profit margins improving from 26.1% to 27.6% YoY.
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