Limbach Shares Slump After Q2 Results Miss Estimates
Limbach Holdings (LMB) shares slumped 33% in Wednesday trading, a day after the company posted Q2 results that missed the market consensus.Adjusted earnings in the three months ended June 30 fell to $0.64 per diluted share from $0.93 a year earlier.Analysts polled by FactSet expected $0.93.Revenue rose to $173.5 million from $142.2 million. Analysts projected $177.3 million.The company raised full-year revenue guidance to $760 million to $790 million from its prior forecast of $730 million to $760 million. Analysts expect $743.3 million.Limbach also closed its $30 million acquisition of Cymcor to strengthen its data center services platform.The acquisition is slated to contribute $12 million in professional services revenue and $4 million in adjusted EBITDA in 2027, Limbach said.Price: $51.78, Change: $-25.34, Percent Change: -32.86%
