Earnings Results Analysis: Limbach Holdings Inc. (NASDAQ: LMB) – News Description

Earnings Results Analysis: Limbach Holdings Inc. (NASDAQ: LMB)

PITTSBURGH, September 28, 2019 – Shares of Limbach Holdings Inc. (NASDAQ: LMB) declined -2.64% to $4.80. The stock traded total volume of 14.209K shares lower than the average volume of 70.54K shares.

Limbach Holdings, Inc. (LMB) reported net income (loss) of $2.10M attributable to common stockholders in the first quarter, contrast to $4.50M in the prior year quarter.

First Quarter 2019 Summary:

Revenue:

First quarter 2019 revenue increased 11.1% to $134.00M contrast to $120.50M for the prior year quarter, as both the Construction and Service segments continued to exhibit growth. Construction segment revenue increased 8.1% to $104.70M and Service segment revenue increased 23.3% to $29.30M.

SG&A Expense:

First quarter 2019 SG&A expenses were $16.00M, contrast to $15.70M in the prior year quarter. The modest increase in SG&A expenses was mainly because of added incentive compensation expense. As a percentage of total revenue, first quarter 2019 SG&A expenses accounted for 12.0%, contrast to 13.0% in the prior year quarter.

Net Income (Loss) attributable to the Company’s common stockholders:

Net income (loss) attributable to the Company’s common stockholders for first quarter 2019 was $2.10M, contrast to $4.50M in the prior year quarter. Net income improved because of the combination of increased revenues and gross margins coupled with minimal operating expense growth. Earnings per share for the first quarter 2019 was $0.28 for both basic and diluted, contrast to losses of $(0.60) for both basic and diluted in the prior year quarter.

Backlog:

Aggregate backlog at March 31, 2019 was a record $611.40M, contrast to $559.70M as of December 31, 2018. Backlog at March 31, 2019 consisted of $557.60M of Construction segment work and $53.80M of Service segment work.

Balance Sheet and Refinancing:

At March 31, 2019, Limbach had total debt outstanding of $36.70M, consisting of $10.50M drawn on its revolver; $7.50M of bridge term loan debt; $13.40M of term debt; and $5.30M of vehicle leases. Current assets at March 31, 2019 were $174.80M and current liabilities were $139.50M, resulting in working capital of $35.30M and a current ratio of 1.25x.

LMB has the market capitalization of $37.06M. The return on assets ratio of the Company was 0.20% while its return on investment ratio stands at 1.80%. Price to sales ratio was 0.07 while 40.40% of the stock was owned by institutional investors.

About the Author

Mel Villarreal
Mel Villarreal
I am Mel Villarreal and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind News Description with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Industrial Goods” category. Address: 2171 Medical Center Drive Venice, FL 34285, USA Phone: (+1) 941-492-9329 Email: [email protected]

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