Filing Flows › Limbach Holdings (LMB) › Q3 2025
Limbach Holdings (LMB) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Limbach Holdings (LMB) reported revenue of $185M for the third quarter 2025 (Q3 2025), +38% from a year earlier and +30% from the quarter before. Operating margin was 7.2%, net earnings $8.8M (4.8% of revenue).
Limbach Holdings, Q3 2025: revenue $185M (+38% year over year), operating margin 7.2%, net earnings $8.8M, operating cash flow $13.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $185M | +30% | +38% |
| Gross profit | $44.7M | +12% | +24% |
| Operating profit | $13.3M | +25% | +23% |
| Net earnings | $8.8M | +13% | +17% |
| Operating cash flow | $13.3M | +566% | +170% |
| Free cash flow | $12.8M | 11× | +180% |
What changed
Revenue was $184.6M in Q3 2025, up 38% year over year and up 30% from the previous quarter.
Gross margin was 24.2%, down 2.8 points from a year earlier. Operating profit was $13.3M, a 7.2% margin (down 0.9 points year over year). Of the extra revenue versus a year earlier, 5% reached operating profit, below the 8% margin then. Operating expenses grew 24% against revenue growth of 38%. The fastest-growing cost line was Other operating costs (+104%). Net earnings were $8.8M, up 17% year over year. The effective tax rate was 30.0%.
Operating cash flow was $13.3M (up 170% year over year), 152% of net earnings. Non-cash charges added back $5.1M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $2.4M. Capital expenditures of $481K left free cash flow of $12.8M.
Questions
What was Limbach Holdings' revenue in the third quarter 2025?
Limbach Holdings (LMB) reported revenue of $185M for the third quarter 2025 (Q3 2025), +38% from a year earlier and +30% from the quarter before.
Was Limbach Holdings profitable in the third quarter 2025?
Operating profit was $13.3M (7.2% of revenue) and net earnings $8.8M.
Source: Limbach Holdings 10-Q on SEC EDGAR.