Added to YB: 2025-07-28
Pitch date: 2025-07-25
LMB [bullish]
Limbach Holdings, Inc.
-41.54%
current return
Author Info
No bio for this author
Company Info
Limbach Holdings, Inc. operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships.
Market Cap
$792.6M
Pitch Price
$135.29
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.54
P/E
22.51
EV/Sales
1.43
Sector
Construction and Engineering
Category
growth
Limbach Holdings (LMB): Why Spruce Point is Very Wrong
LMB: Spruce Point's 'Strong Sell' claims ODR segment stagnating, but organic growth is actually 12% in Q1 2025. Backlog shift from GCR to ODR is strategic, not weakness. Acquisitions are accretive (3.8-5x EBITDA multiples), complementing strong core. Record earnings with EBITDA +36% in 2024, net income +49%. No accounting issues in percentage-of-completion method. Net cash position despite M&A.
Read full article (23 min)