Limbach Holdings Inc. (LMB) Financial Statements (2024 and earlier)

Company Profile

Business Address 797 COMMONWEALTH DRIVE
WARRENDALE, PA 15086
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 17 - Construction Special Trade Contractors (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments59,83336,00114,47642,1478,3441,619
Cash and cash equivalents59,83336,00114,47642,1478,3441,619
Restricted cash and investments65113113113113113
Receivables97,755124,54989,45385,777105,075135,699
Contract with customer, asset, after allowance for credit loss51,69061,45383,86367,09877,188 
Other current assets7,6453,8745,0014,2824,66034,857
Other undisclosed current assets 12    32,698
Total current assets:217,000225,990192,906199,417195,380204,986
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization9,5617,4024,9166,2426,412
Operating lease, right-of-use asset19,72718,28820,11918,75121,056
Property, plant and equipment (28,887)(23,514)(19,016)(16,340)(12,079)20,527
Intangible assets, net (including goodwill)41,37326,71028,27717,81018,44023,441
Goodwill16,37411,37011,3706,1296,12910,488
Intangible assets, net (excluding goodwill)24,99915,34016,90711,68112,31112,953
Deferred income tax assets5,1794,8294,3306,0874,786
Other noncurrent assets330515259392668271
Deferred tax assets, net4,409
Other undisclosed noncurrent assets40,15634,33635,72129,79826,954 
Total noncurrent assets:87,43968,56674,60662,74066,23748,648
TOTAL ASSETS:304,439294,556267,512262,157261,617253,634
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities96,235100,06488,78593,181106,32483,117
Taxes payable5011,67112 
Employee-related liabilities   5,146
Accounts payable65,26875,12263,84066,76386,26774,353
Accrued liabilities30,96724,94224,44424,74720,0453,618
Deferred revenue42,16044,00726,71246,64842,370
Debt2,6809,5649,8796,5364,4254,475
Provision for loss on contracts     1,708 
Estimated litigation liability      32,578
Other liabilities819557456764821607
Other undisclosed current liabilities3,2544,8933,9103,1651,22161,361
Total current liabilities:145,148159,085129,742150,294156,869182,138
Noncurrent Liabilities
Long-term debt and lease obligation, including:19,63121,52829,81636,51338,86823,614
Long-term debt, excluding current maturities   29,81636,51338,86823,614
Finance lease, liability10,0188,1702,6813,9234,161
Other undisclosed long-term debt and lease obligation9,61313,358(19,257)(19,382)(22,408) 
Liabilities, other than long-term debt18,74518,5013,9917,0491,1451,514
Accounts payable and accrued liabilities   451890382 
Other liabilities2,7082,8583,5406,1597631,514
Operating lease, liability16,03715,64316,57615,45918,247
Other undisclosed noncurrent liabilities   16,12514,56917,865 
Total noncurrent liabilities:38,37640,02949,93258,13157,87825,128
Total liabilities:183,524199,114179,674208,425214,747207,266
Equity
Equity, attributable to parent120,91595,44287,83853,73246,87046,368
Common stock111111
Treasury stock, value(2,000)(2,000)    
Additional paid in capital92,52887,80985,00457,61256,55754,791
Retained earnings (accumulated deficit)30,3869,6322,833(3,881)(9,688)(8,424)
Total equity:120,91595,44287,83853,73246,87046,368
TOTAL LIABILITIES AND EQUITY:304,439294,556267,512262,157261,617253,634

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues516,350496,782490,351568,209553,334546,526
Cost of revenue(397,060)(403,041)(404,441)(486,823)(481,457)(487,095)
Gross profit:119,29093,74185,91081,38671,87759,431
Operating expenses(90,006)(81,731)(71,920)(64,231)(63,810)(58,361)
Operating income:29,28412,01013,99017,1558,0671,070
Nonoperating income (expense)1,217    (3,550)
Investment income, nonoperating 1,217     
Interest and debt expense(2,046)(264)(1,961)(363)(333)(373)
Income (loss) from continuing operations before equity method investments, income taxes:28,45511,74612,02916,7927,734(2,853)
Other undisclosed income (loss) from continuing operations before income taxes(355)(2,138)(2,552)(9,803)(9,791)373
Income (loss) from continuing operations before income taxes:28,1009,6089,4776,989(2,057)(2,480)
Income tax expense (benefit)(7,346)(2,809)(2,763)(1,182)282635
Income (loss) from continuing operations:20,7546,7996,7145,807(1,775)(1,845)
Income (loss) before gain (loss) on sale of properties:6,7145,807(1,775)(1,845)
Net income (loss) attributable to parent:20,7546,7996,7145,807(1,775)(1,845)
Preferred stock dividends and other adjustments      (2,219)
Other undisclosed net income available to common stockholders, basic      113
Net income (loss) available to common stockholders, diluted:20,7546,7996,7145,807(1,775)(3,951)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):20,7546,7996,7145,807(1,775)(1,845)
Comprehensive income (loss), net of tax, attributable to parent:20,7546,7996,7145,807(1,775)(1,845)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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