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LMB Nasdaq· Limbach Holdings Inc.
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LMB Nasdaq· Limbach Holdings Inc.
Earnings report Q3 2023

LMB Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

LMB reported total revenue of $127.8 million for the three months ended September 30, 2023, compared to $122.4 million in the same period last year. The revenue was generated from two segments: GCR (Green Construction and Retrofit) and ODR (Orchestrated Digital Solutions). GCR revenue decreased slightly by $0.7 million or 1.1%, while ODR revenue increased significantly by $6.1 million or 10.3%. The growth in ODR segment revenue was primarily driven by the company's focus on accelerating the growth of its digital solutions business. Additionally, the ODR segment revenue received a boost of approximately $1.5 million from the ACME transaction.

Strengths

LMB demonstrated strong revenue growth in the latest quarter, with total revenue increasing by $5.4 million compared to the same period last year. The company's strategic focus on expanding its ODR business has paid off, as evidenced by the double-digit growth in ODR segment revenue. The ACME transaction also contributed to the increase in ODR revenue. LMB's management has successfully executed its growth strategy and capitalized on market opportunities.

Challenges

While LMB experienced overall revenue growth, the GCR segment revenue declined slightly by $0.7 million or 1.1%. This indicates a potential challenge in the company's green construction and retrofit business. LMB may need to assess and address the factors contributing to this decline to ensure sustained growth in this segment.

Noteworthy

The increase in ODR segment revenue was primarily driven by the company's focus on accelerated growth and the successful completion of the ACME transaction. This transaction provided an additional boost to ODR revenue, further strengthening LMB's position in the digital solutions market.

Summary

LMB delivered a strong performance in the latest quarter, with total revenue increasing by $5.4 million compared to the same period last year. The company's strategic focus on expanding its ODR business has resulted in double-digit revenue growth in this segment. The successful completion of the ACME transaction also contributed to the increase in ODR revenue. However, the GCR segment experienced a slight decline in revenue, indicating a potential challenge that LMB needs to address. Overall, LMB's management has demonstrated effective execution of its growth strategy, positioning the company for continued success in the digital solutions market.

Source documents

Form 10-Q  filed on Nov 08, 2023
31 pages scanned

Reference data

Company financials Q3 revenue 128M
Analyst estimates Q3 EPS beat by 487.27%
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