Building systems company Limbach (NASDAQ:LMB) will be announcing earnings results tomorrow after the bell. Here’s what to expect.
Limbach met analysts’ revenue expectations last quarter, reporting revenues of $122.2 million, down 2.1% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ earnings and EBITDA estimates.
Is Limbach a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Limbach’s revenue to grow 1.4% year on year to $129.5 million, slowing from the 4.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.46 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Limbach has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Limbach’s peers in the construction and maintenance services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Orion delivered year-on-year revenue growth of 34.5%, missing analysts’ expectations by 3.6%, and MYR Group reported a revenue decline of 5.5%, falling short of estimates by 3.2%. Orion traded up 12.7% following the results while MYR Group was also up 13.7%.
Read our full analysis of Orion’s results here and MYR Group’s results here.
Investors in the construction and maintenance services segment have had steady hands going into earnings, with share prices flat over the last month. Limbach is down 1.5% during the same time and is heading into earnings with an average analyst price target of $73.50 (compared to the current share price of $76.60).
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