Filing Flows › Limbach Holdings (LMB) › Q4 2025
Limbach Holdings (LMB) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Limbach Holdings (LMB) reported revenue of $187M for the fourth quarter 2025 (Q4 2025), +30% from a year earlier and +1% from the quarter before. Operating margin was 9.4%, net earnings $12.3M (6.6% of revenue).
Limbach Holdings, Q4 2025: revenue $187M (+30% year over year), operating margin 9.4%, net earnings $12.3M, operating cash flow $28.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $187M | +1% | +30% |
| Gross profit | $48.1M | +8% | +10% |
| Operating profit | $17.6M | +32% | +35% |
| Net earnings | $12.3M | +40% | +25% |
| Operating cash flow | $28.1M | +111% | +46% |
| Free cash flow | $27.9M | +117% | +55% |
What changed
Revenue was $186.9M in Q4 2025, up 30% year over year and up 1% from the previous quarter.
Gross margin was 25.7%, down 4.6 points from a year earlier. Operating profit was $17.6M, a 9.4% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 11% reached operating profit, above the 9% margin then. Operating expenses fell 0% while revenue rose 30%. Net earnings were $12.3M, up 25% year over year. The effective tax rate was 29.0%.
Operating cash flow was $28.1M (up 46% year over year), 229% of net earnings. Non-cash charges added back $5.1M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items added $9.0M. Capital expenditures of $251K left free cash flow of $27.9M.
Questions
What was Limbach Holdings' revenue in the fourth quarter 2025?
Limbach Holdings (LMB) reported revenue of $187M for the fourth quarter 2025 (Q4 2025), +30% from a year earlier and +1% from the quarter before.
Was Limbach Holdings profitable in the fourth quarter 2025?
Operating profit was $17.6M (9.4% of revenue) and net earnings $12.3M.
Source: Limbach Holdings 10-K on SEC EDGAR.