Limbach Holdings Inc. (LMB) reported first-quarter adjusted earnings of 64 cents per share, easily surpassing analyst estimates and providing a strong full-year revenue outlook.
The results topped the average Wall Street estimate of 28 cents per share, according to four analysts surveyed by Zacks Investment Research. The company posted revenue of $138.9 million in the period, also beating Street forecasts for $134.5 million.
While the quarterly performance significantly exceeded expectations, earnings per share were down from $1.12 in the same period a year ago. On a GAAP basis, the Warrendale, Pennsylvania-based company reported first-quarter net income of $4.4 million, or 36 cents per share.
Looking ahead, Limbach expects full-year revenue to be in the range of $730 million to $760 million.
The strong top- and bottom-line beat suggests operational efficiency and robust demand for the company's building and design services. Investors will watch for the company's second-quarter results in August to see if the momentum can be sustained against the new guidance.
This article is for informational purposes only and does not constitute investment advice.
