The company posted a quarterly profit of $9.5 million, or 79 cents a share, marking a steady climb from the $8.8 million, or 73 cents a share, recorded during the same period last year. When adjusted for one-time items, earnings hit $1.37 a share, comfortably beating the $1.21 consensus estimate from FactSet analysts. Revenue similarly outperformed, reaching $230.5 million against the projected $218.6 million.
In section Market Quotes
Limbach Holdings Shares Surge Following Earnings Beat
Investors pushed Limbach Holdings shares up 19% to $59.54 in after-hours trading Tuesday, reacting to a third-quarter performance that eclipsed Wall Street expectations. The building systems company reported profit and revenue growth that signaled a recovery from previous project delays and a return to organic expansion.
Chief Executive Michael McCann attributed the gains to heightened customer activity and the stabilization of project timelines that had hampered earlier results. While management reaffirmed its existing full-year guidance for revenue and adjusted EBITDA, the company noted that current performance is trending toward the high end of those projections. This positive momentum offers a significant recovery for the stock, which had faced a 36% decline throughout the current year prior to this report.
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