Limbach Holdings, Inc. (LMB)
NASDAQIndustrialsConstruction MaterialsSnapshot 2026-11-05
$54.50-6.21%
Close 2026-11-05 · 1-day change
NASDAQIndustrialsConstruction MaterialsSnapshot 2026-11-05
QuarterlyIQ Insights · LMB
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance recently climbed back into the top half of its industry — confirming the recovery.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | -18.3% |
| Our one-year growth estimate | diamond |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the same direction.
Price observations: 365 days
Most sensitive to the broad stock market.
Based on historical daily prices through 2026-11-05.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
A larger daily loss that occurred about once in every 20 trading days.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| 20.2% |
Growth built into the price is above our model estimate.
The price assumes 38.5 percentage points less one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-11-05 · Compared with 21 industry peers · Company calendar date is not available
LMB — credit agreement
Dated 2026-09-09
Entry into a Material Definitive Agreement Limbach Facility Services LLC (the “Company”), a wholly owned subsidiary of Limbach Holdings, Inc. (“LHI”), Limbach Holdings LLC, a wholly owned subsidiary of LHI, and certain of LHI's other subsidiaries as guarantor loan parties, entered into a Credit Agreement, dated as of September 9, 2026, with PNC Bank, National Association (“PNC”), as administrative agent, swingline lender and issuing lender, and the lenders party thereto (the “PNC Credit Agree…
Why it matters: ODR is Limbach's largest revenue segment. Its organic revenue fell 3.4% in Q2, even as total ODR revenue rose with acquisition sales.
Supportive ifQ3 ODR organic revenue grows year over year, after falling 3.4% in Q2.
Worry ifQ3 ODR organic revenue falls year over year for a second straight quarter.
Why it matters: 1901 adds scale and a large electrical operation, but Limbach funded the $63 million deal with cash and debt. Its stated 2027 contribution gives investors a clear test of the deal.
Supportive ifLimbach reports 1901 is on track to bring in about $140 million revenue and $11 million adjusted EBITDA in 2027.
Worry ifLimbach reports that 1901's 2027 revenue is below its $140 million goal. Or adjusted EBITDA is below its $11 million goal.
Why it matters: Limbach used cash and borrowings for CYMCOR and 1901. A rise in debt would make its plan to reduce revolver borrowings harder to carry out.
Worry ifThe next filing shows higher revolver borrowings than the $17.5 million reported at June 30, 2026.
Less concerning ifThe next filing shows revolver borrowings below $17.5 million. It also shows no new purchase funded by debt.
Why it matters: Q2 gross margin fell to 21.5%, and Limbach cut its 2026 margin range to 23% to 24%. A rebound would support its plan to improve margins as the year goes on.
Supportive ifQ3 gross margin is above 23%, and Limbach says Pioneer Power margins improved from Q2.
Worry ifQ3 gross margin is below 21.5%, or Limbach says Pioneer Power margins did not improve.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$186 on $10,000 · ±1.9% | How much price usually moves either way. |
| Bad day | $589 loss on $10,000 · 5.9% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $6,388 loss on $10,000 · 63.9% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: Limbach cut its 2026 EBITDA range after Q2 results fell below its expectations. A Q3 result below $19.5 million would add pressure to the new $78 million to $84 million goal.
Worry ifQ3 adjusted EBITDA is below $19.5 million, one quarter of the $78 million low end of the 2026 range.
Less concerning ifQ3 adjusted EBITDA is at least $19.5 million, and Limbach keeps its $78 million to $84 million 2026 range.