How are energy investors positioned?
On June 11, 2025, Limbach Holdings, Inc. (NASDAQ:LMB), a Delaware-based specialty construction contractor with a market capitalization of $1.6 billion, conducted its annual meeting where several key decisions were made by its shareholders. The company has demonstrated remarkable performance, with its stock price surging 65.82% year-to-date and maintaining a "GREAT" financial health score according to InvestingPro analysis. The results of the meeting, which are detailed in the company’s latest 8-K filing with the Securities and Exchange Commission (SEC), included the election of directors, approval of executive compensation, and amendments to the company’s Omnibus Incentive Plan.
Shareholders elected Michael M. McCann and Laurel J. Krzeminski as Class C directors to serve until the 2028 annual meeting. The voting results showed 5,991,158 votes for McCann and 2,168,424 withheld, with 1,228,233 broker non-votes. Krzeminski received 5,532,195 votes with 2,627,387 withheld, alongside the same number of broker non-votes.
The compensation of the named executive officers was approved in a non-binding advisory vote, with 7,954,343 votes for, 200,293 against, and 4,946 abstentions, in addition to 1,228,233 broker non-votes. According to InvestingPro data, the company appears overvalued at current levels, despite its strong operational performance and ability to maintain healthy cash flows. InvestingPro subscribers have access to 18 additional key insights about LMB’s valuation and financial health.
An amendment to the Limbach Holdings, Inc. Amended and Restated Omnibus Incentive Plan was also approved. The amendment includes provisions for the acceleration of vesting of restricted stock units (RSUs) and performance-based stock units (PSUs) upon death, disability, retirement, or reduction in force. Specifically, RSUs will vest in full upon death or disability, and on a pro-rated basis for retirement without notice or reduction in force. For retirement with notice, RSUs will continue to vest post-retirement. The amendment also defines "Retirement" and "Reduction in Force" within the context of the plan.
Additionally, the appointment of Crowe LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with 9,312,307 votes for, 59,514 against, and 15,994 abstentions.
The board of directors had approved the Omnibus Plan amendment subject to shareholder approval, which was obtained at the Annual Meeting. The material terms of the amended Omnibus Plan were outlined in the company’s definitive proxy statement filed with the SEC on April 23, 2025.
This news is based on a press release statement and provides a summary of the most recent corporate events and shareholder decisions at Limbach Holdings, Inc. The company maintains a solid financial position with a moderate debt level and liquid assets exceeding short-term obligations. For detailed analysis and comprehensive insights, investors can access the full Pro Research Report available on InvestingPro, which provides in-depth coverage of LMB’s financial health, valuation metrics, and growth prospects.
In other recent news, Limbach Holdings reported impressive financial results for the first quarter of 2025, surpassing market expectations. The company achieved revenues of $133.1 million, exceeding the forecast of $120.48 million, and earnings per share of $1.12, significantly higher than the anticipated $0.43. Limbach’s adjusted EBITDA stood at $15 million, outperforming the consensus projection of $10 million, largely due to higher-than-expected gross profitability. The company’s strategic focus on Owner Direct Revenue (ODR) has been a key driver, now constituting 67.9% of total revenue, with a year-over-year increase of 22% in this segment.
Additionally, Limbach’s total backlog saw a 15% increase, fueled by a 57% rise in ODR, although General Contractor Revenue (GCR) experienced a 26% decline. The company also updated its forecast for free cash flow conversion for the year to approximately 75% of its adjusted EBITDA. Stifel analysts maintained their Buy rating for Limbach Holdings, with price targets of $141 and $103, reflecting optimism about the company’s potential for further margin improvements and strategic initiatives. These developments highlight Limbach’s ongoing progress and strategic transformation, positioning it for continued growth in key markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.