Limbach Holdings Raises 2025 Revenue Outlook After Q2 Growth

Limbach Holdings reported strong second-quarter 2025 results, with revenue rising 16.4% year-over-year to $142.2 million and adjusted EBITDA increasing by around 30%, driven by growth in its higher-margin Owner Direct Relationships (ODR) segment. Despite missing revenue expectations slightly, the company raised its full-year revenue guidance to between $650 million and $680 million and its adjusted EBITDA outlook to $80 million to $86 million, surpassing analyst estimates. Limbach's CEO emphasized strategic investments in sales and national account approaches to deepen customer relationships and capitalize on market opportunities, supported by acquisitions like Pioneer Power and an expanded credit facility. The company’s focus on higher-margin contracts and operational efficiency aligns with broader industry trends prioritizing profitability over volume. Analysts maintain a positive outlook, rating Limbach as a strong buy or outperform, although some caution remains due to valuation and technical factors. Limbach operates primarily in the Eastern and Midwest U.S., serving key vertical markets including healthcare, industrial, and data centers, positioning itself for sustained growth and long-term shareholder value.