Filing Flows › Legence (LGN) › Q1 2026
Legence (LGN) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Legence (LGN) reported revenue of $1.0B for the first quarter 2026 (Q1 2026), +105% from a year earlier and +41% from the quarter before. Operating margin was 2.2%, net earnings $16.1M (1.6% of revenue).
Legence, Q1 2026: revenue $1.0B (+105% year over year), operating margin 2.2%, net earnings $16.1M, operating cash flow $120M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +41% | +105% |
| Gross profit | $186M | +26% | +67% |
| Operating profit | $22.4M | — | +35% |
| Net earnings | $16.1M | — | — |
| Operating cash flow | $120M | +27% | +308% |
| Free cash flow | $102M | +25% | +324% |
What changed
Revenue was $1.0B in Q1 2026, up 105% year over year and up 41% from the previous quarter. Installation & Maintenance was the largest line at 84% of revenue. Installation & Maintenance added $0.51B year over year (up 142%), 96% of the total change.
Gross margin was 17.9%, down 4.1 points from a year earlier. Operating profit was $0.02B, a 2.2% margin (down 1.1 points year over year). Of the extra revenue versus a year earlier, 1% reached operating profit, below the 3% margin then. Operating expenses grew 72% against revenue growth of 105%. The fastest-growing cost line was Other operating costs (+86%). Net earnings were $0.02B. The tax line was a benefit of $0.01B on pre-tax earnings of $4.0M.
Operating cash flow was $0.12B (up 308% year over year), 691% of net income including minority interests. Non-cash charges added back $0.04B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.03B. Capital expenditures of $0.02B left free cash flow of $0.10B.
Questions
What was Legence's revenue in the first quarter 2026?
Legence (LGN) reported revenue of $1.0B for the first quarter 2026 (Q1 2026), +105% from a year earlier and +41% from the quarter before.
Was Legence profitable in the first quarter 2026?
Operating profit was $22.4M (2.2% of revenue) and net earnings $16.1M.
Source: Legence 10-Q on SEC EDGAR.