Filing Flows › Legence (LGN) › Q1 2026 › vs Q1 2025
Legence (LGN) Q1 2026 vs Q1 2025 (year over year)
Legence's revenue rose $532M (+105%) from $506M in Q1 2025 to $1.0B in Q1 2026. The biggest changes: Installation & Maintenance +$512M (+142%); Engineering & Consulting +$20.4M (+14%). Gross margin 17.9% against 22.1% (-4.1 pts).
Legence, Q1 2026: revenue $1.0B (+105% year over year), operating margin 2.2%, net earnings $16.1M, operating cash flow $120M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Gross margin | 17.9% | 22.1% | -4.1 pts |
| Operating margin | 2.2% | 3.3% | -1.1 pts |
| Net margin | 1.6% | -4.2% | +5.7 pts |
| Free cash flow margin | 9.9% | 4.8% | +5.1 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Installation & Maintenance | $872M | $361M | $512M | +142% |
| Engineering & Consulting | $166M | $145M | $20.4M | +14% |
| Revenue | $1.0B | $506M | $532M | +105% |
| Gross profit | $186M | $112M | $74.5M | +67% |
| Cost of revenue | $852M | $394M | $457M | +116% |
| Operating profit | $22.4M | $16.6M | $5.8M | +35% |
| Operating expenses | $164M | $95.2M | $68.6M | +72% |
| Pre-tax earnings | $4.0M | −$15.1M | $19.1M | — |
| Other expense, net | $18.4M | $31.7M | −$13.3M | -42% |
| SG&A | $116M | $69.5M | $46.6M | +67% |
| Other operating costs | $47.7M | $25.7M | $22.0M | +86% |
| Income tax benefit | $13.4M | −$4.0M | $17.4M | — |
| Net earnings | $16.1M | −$21.2M | $37.3M | — |
| Minority interests | $1.3M | $2.1M | −$774K | -37% |
| Depreciation & amortization | $36.8M | $26.1M | $10.7M | +41% |
| Share-based compensation | $36.7M | $0 | $36.7M | — |
| Working capital & other | $30.5M | $24.6M | $6.0M | +24% |
| Operating cash flow | $120M | $29.5M | $90.7M | +308% |
| Free cash flow (OCF − capex) | $102M | $24.1M | $78.2M | +324% |
| Capital expenditures | $17.8M | $5.4M | $12.5M | +232% |
Questions
How much did Legence's revenue grow year over year in Q1 2026?
Legence's revenue rose $532M (+105%) from $506M in Q1 2025 to $1.0B in Q1 2026.
What drove Legence's revenue change in Q1 2026?
Installation & Maintenance +$512M (+142%); Engineering & Consulting +$20.4M (+14%).