Limbach Holdings Inc Up 7.13% To $6.01 After Earnings Miss

Limbach Holdings Inc (LMB) missed earnings estimates for Q2 2022 this afternoon.

Analyst expectations for Limbach Holdings Inc earnings per share (EPS) were at $0.09, with the company missing those estimates with a reported EPS of $0.08, leading to a negative surprise of $0.01 per share (-11%). Limbach Holdings Inc's earnings rose 14% year-over-year as the firm reported an EPS of $0.07 in its year-ago quarter. The positive annual growth shows the Industrials company is performing well amid recent economic conditions.

Revenues were downbeat at $116.1 million. That represents a 4.05% decrease in revenues from the year-ago report and is 5.73% lower than consensus estimates set at $123.2 million.

The stock is up 7.13% to $6.01 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 43. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Limbach Holdings Inc is a commercial specialty contractor in the fields of heating, ventilation, air conditioning, plumbing, electrical, and building controls for the design and construction of new and renovated buildings, maintenance services, energy retrofits, and equipment upgrades. It operates in two segments: Construction, which involves new construction or renovation projects, primarily HVAC, plumbing, or electrical services; and Service segment, which provides maintenance or services primarily on HVAC, plumbing, electrical systems, and building controls directly for building owners and direct specialty contracting projects. The company derives the majority of its revenue from the construction segment.