$LMB Reports Strong 2022 Financial Results and Focus on Customer Relationships.
Mar 8th 2023, 9:37 pm
Analyst Summary: Limbach Holdings, Inc. reported strong financial results for the year ended December 31, 2022. The company's consolidated total revenue increased to $496.8 million, which includes a significant contribution from the ODR segment accounting for approximately 58%, up from 28% in the comparable period. The company's focus on improving profitability and cash flow has positively impacted its return on capital. The CEO expressed his excitement for leading the company with a customer-focused platform and solidifying and expanding their relationships with building owners. Going forward, the company aims to continue improving GCR execution and profitability by pursuing GCR opportunities that are smaller in scope and lower in contract value. Finally, the company's net income and earnings per share were impacted by certain restructuring charges and other costs that are not included in the prior periods.