Key Points – Second-quarter profitability weakened despite revenue rising 22% to $173.5 million, as gross margin fell to 21.5%, net income declined 39% to $4.7 million, and adjusted EBITDA dropped 22% to $13.9 million.
Project timing, softness in healthcare and institutional markets, and competition for labor and materials pressured results. – Limbach acquired data-center program manager CYMCOR for $30 million, expanding its mission-critical infrastructure capabilities and geographic reach
CYMCOR is expected to contribute $12 million in revenue and $4 million in adjusted EBITDA in 2027, excluding potential follow-on services. – The company raised its 2026 revenue outlook to $760 million-$790 million but cut its adjusted EBITDA forecast to $78 million-$84 million. Strong bookings and improved backlog support potential 2027 gains, while management described 2026 as a reset period focused on margins, data centers, industrial expansion, and integration. Limbach (NASDAQ:LMB) reported second-quarter 2026 results that fell short of management’s expectations as project timing, healthcare and institutional-market softness, and margin pressure weighed on profitability.
The company also announced the acquisition of data center program manager CYMCOR for $30 million, positioning the deal as part of a broader effort to diversify its end markets and geographic reach. President and Chief Executive Officer Michael McCann said customer demand remained healthy despite near-term pressure. Limbach recorded $182 million in bookings during the quarter, its third consecutive quarter of strong booking activity, bringing total bookings over the past three quarters to $616 million. “Our results fell short of expectations, driven by project timing and ongoing softness in healthcare and institutional markets from elevated price sensitivity and market conditions pressuring gross margins,” McCann said. “However, underlying customer demands remained healthy.” Revenue rises, but margins and…