Quarterly ResultMay 14, 2026, 07:31 AM
Legence Q1 Revenue $1.04B (+105%), Raises Full Year Guidance
AI Summary
Legence Corp. reported strong first-quarter 2026 financial results, with revenues more than doubling year-over-year to $1.04 billion, driven by organic growth and contributions from the Bowers acquisition. Adjusted EBITDA increased significantly by 132.4% to $118.1 million, and the company achieved a net income of $16.1 million compared to a net loss in the prior year. Legence also announced record total backlog and awards of $5.38 billion and raised its full-year 2026 revenue and Adjusted EBITDA guidance.
Key Highlights
- Q1 2026 Revenues reached $1.04 billion, a 105.1% increase year-over-year.
- Q1 2026 Adjusted EBITDA grew 132.4% to $118.1 million.
- Net income attributable to Legence was $16.1 million, or $0.13 per diluted share.
- Total backlog and awarded contracts hit a record $5.38 billion, up 103.9% YoY.
- Full-year 2026 revenue guidance raised to $4.1 billion - $4.3 billion.
- Full-year 2026 Adjusted EBITDA guidance raised to $470 million - $490 million.
- Q1 revenue growth, excluding Bowers acquisition, was 57.1%.
- Net leverage stood at 2.1 times, or 1.8 times on an adjusted basis.