LMB - Why Limbach Stock Is Up Today
2023-08-10 14:46:13 ET
Limbach (NASDAQ: LMB) reported earnings results on Wednesday and blew away the consensus estimate for the quarter, and suggested there could be some upside to the full-year revenue estimate. Investors are excited about the construction specialist's potential, sending shares up more than 15%.
Limbach specializes in the design, installation, and service of heating, ventilation, and air conditioning (HVAC) and other mechanical, electrical, plumbing, and building automation systems . The company earned $0.27 per share in its fiscal first quarter ending June 30, easily topping Wall Street's expectation for $0.05 per share in earnings.
Revenue came in at $124 million, $10 million better than consensus and up 7.5% year over year. Gross profit, meanwhile, was $28.5 million, up 33.7% from a year ago. The company's "owner direct relationships" (ODR), or servicing, segment was particularly strong, with sales up 18.1% year over year.
For further details see:
Why Limbach Stock Is Up Today