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Limbach Holdings (LMB) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Limbach Holdings (LMB) Q3 2026 earnings results →
Q3 2026 Revenue up 25% year over year to $230M · 4¢ of every $1 of revenue kept as net profit · operating margin 6.5%
Limbach Holdings made $230M in Q3 2026 (+25% Y/Y). Operating margin 6.5%, net earnings $9.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $230.5M in Q3 2026, up 25% year over year and up 33% from the previous quarter.
Gross margin was 23.4%, down 0.8 points from Q3 2025. Operating profit was $15.1M, a 6.5% margin (down 0.7 points year over year). Of the extra revenue versus Q3 2025, 4% reached operating profit, below the 7% margin then. Operating expenses grew 24% against revenue growth of 25%. The fastest-growing cost line was Other operating costs (+39%). Net earnings were $9.4M, up 8% year over year. The effective tax rate was 31.5%.
Operating cash flow was $20.3M (up 52% year over year), 214% of net earnings. Non-cash charges added back $6.5M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items added $2.8M. Capital expenditures of $735K left free cash flow of $19.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $230M | +25% | 6.5% | $9.4M | $20.3M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $173M | +22% | 4.2% | $4.7M | $18.7M |
| Q1 2026 | 10-Q | May 5, 2026 | $139M | +4% | 0.8% | $4.4M | −$7.8M |
| Q4 2025 | 10-K | Mar 2, 2026 | $187M | +30% | 9.4% | $12.3M | $28.1M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $185M | +38% | 7.2% | $8.8M | $13.3M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $142M | +16% | 7.5% | $7.8M | $2.0M |
| Q1 2025 | 10-Q | May 5, 2025 | $133M | +12% | 5.9% | $10.2M | $2.2M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Limbach Holdings
Limbach Holdings, Inc. (the “Company,” “we” or “our”), a Delaware corporation headquartered in Warrendale, Pennsylvania, is a building systems solutions firm that designs, delivers, and maintains mechanical (heating, ventilation, and air conditioning), electrical, plumbing, and controls (“MEPC”) systems. The Company partners with building owners and operators of mission-critical facilities across healthcare, industrial and manufacturing, data centers, life sciences, higher education, and cultural and entertainment markets. With approximately 1,500 team members across 21 offices throughout the Eastern and Midwestern regions of the United States, the Company strives to be an indispensable partner by combining its national capabilities with strong local execution and talent to deliver proactive, safe, and reliable solutions for complex facilities.
In its own words, from its 10-K, filed Mar 2, 2026.
Limbach Holdings against its Construction - Special Trade Contractors peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +25% against the peers' median +13%. Operating margin: 6.5% against the peers' median 6.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LMB Limbach Holdings | Q3 2026 | $230M | +25% | 6.5% |
| LGN Legence | Q2 2026 | $1.3B | +111% | -0.5% |
| RUN Sunrun | Q3 2026 | $1.1B | +52% | 14.0% |
| AMRC Ameresco | Q2 2026 | $515M | +9% | 8.6% |
| AGX Argan | Q2 FY27 | $384M | +62% | 14.8% |
| MTRX Matrix Service | Q1 FY27 | $219M | +4% | 2.0% |
| BBCP Concrete Pumping Holdings | Q3 FY26 | $117M | +13% | 12.9% |
| SPWR SunPower | Q2 2026 | $54.9M | -17% | -42.8% |
| CETX Cemtrex | Q3 FY26 | $18.4M | +9% | -6.5% |
Source: Limbach Holdings 10-Q on SEC EDGAR · CIK 1606163 · Construction - Special Trade Contractors
Guidance and outlook
13F: who owns LMB and who is buying
More on LMB
- How Limbach Holdings makes money: revenue by segment
- Limbach Holdings next earnings date and what analysts expect
- Limbach Holdings stock forecast, price target and fair value
- Who owns Limbach Holdings stock: holders, funds and Congress trades
- Limbach Holdings guidance and outlook
- Is Limbach Holdings a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results