Quarterly ResultMay 5, 2026, 04:47 PM
Limbach Q1 Net Income Down 57% to $4.38M; EPS $0.36
AI Summary
Limbach Holdings, Inc. reported a significant decline in profitability for the first quarter of 2026, with net income decreasing 57.1% to $4.38 million and diluted EPS falling 57.6% to $0.36. This occurred despite a 4.3% increase in revenue to $138.86 million, partly driven by the Pioneer Power acquisition which contributed $23.5 million but operated at a lower gross margin. The company also saw a substantial increase in long-term debt and a shift to net cash used in operating activities.
Key Highlights
- Net income decreased 57.1% to $4.38 million in Q1 2026 from $10.21 million in Q1 2025.
- Diluted EPS fell 57.6% to $0.36 in Q1 2026 compared to $0.85 in Q1 2025.
- Revenue increased 4.3% to $138.86 million in Q1 2026 from $133.11 million in Q1 2025.
- Gross profit declined 15.1% to $31.17 million in Q1 2026 from $36.72 million in Q1 2025.
- Operating income dropped 85.7% to $1.13 million in Q1 2026 from $7.91 million in Q1 2025.
- Net cash used in operating activities was $7.81 million in Q1 2026, compared to $2.24 million provided in Q1 2025.
- Long-term debt increased 69.4% to $51.74 million as of March 31, 2026, from $30.54 million at December 31, 2025.
- Pioneer Power acquisition contributed $23.5 million to total revenue for Q1 2026.