Revenue: As of FY2026 Q1, the actual value is USD 1.038 B, beating the estimate of USD 930.48 M.EPS: As of FY2026 Q1, the actual value is USD 0.13.EBIT: As of FY2026 Q1, the actual value is USD 38.05 M.<h4>Segmented Financial Metrics (Three Months Ended March 31)</h4><h4>Revenue</h4><ul><li>Total Revenue for Legence Corp. increased by $531,940 thousand, or 105.1%, to $1,037,893 thousand in 2026 from $505,953 thousand in 2025 .<ul><li>Engineering &amp; Consulting Segment: Revenue increased by $20,354 thousand, or 14.0%, to $165,801 thousand in 2026 from $145,447 thousand in 2025 .<ul><li>Engineering &amp; Design: Revenue decreased by - $8,971 thousand, or -8.4%, to $97,571 thousand in 2026 from $106,542 thousand in 2025 .</li><li>Program &amp; Project Management: Revenue increased by $29,325 thousand, or 75.4%, to $68,230 thousand in 2026 from $38,905 thousand in 2025 .</li></ul></li><li>Installation &amp; Maintenance Segment: Revenue increased by $511,586 thousand, or 141.9%, to $872,092 thousand in 2026 from $360,506 thousand in 2025 .<ul><li>Installation &amp; Fabrication: Revenue increased by $468,910 thousand, or 161.9%, to $758,592 thousand in 2026 from $289,682 thousand in 2025 .</li><li>Maintenance &amp; Service: Revenue increased by $42,676 thousand, or 60.3%, to $113,500 thousand in 2026 from $70,824 thousand in 2025 .</li></ul></li></ul></li></ul><h4>Gross Profit</h4><ul><li>Total Gross Profit increased by $74,450 thousand, or 66.6%, to $186,154 thousand in 2026 from $111,704 thousand in 2025 .<ul><li>Engineering &amp; Consulting Segment: Gross profit decreased by - $9,240 thousand, or -15.5%, to $50,413 thousand in 2026 from $59,653 thousand in 2025 . Gross margin decreased by -10.6% to 30.4% in 2026 from 41.0% in 2025 .</li><li>Installation &amp; Maintenance Segment: Gross profit increased by $83,690 thousand, or 160.8%, to $135,741 thousand in 2026 from $52,051 thousand in 2025 . Gross margin increased by 1.2% to 15.6% in 2026 from 14.4% in 2025 .</li></ul></li></ul><h4>Operating Costs</h4><ul><li>Selling, General and Administrative (SG&amp;A) expenses: Increased by $46,636 thousand to $116,095 thousand in 2026 from $69,459 thousand in 2025 . As a percentage of revenue, SG&amp;A declined to 11.2% in 2026 from 13.7% in 2025 .</li><li>Depreciation and Amortization: Increased by $10,736 thousand to $36,828 thousand in 2026 from $26,092 thousand in 2025 .</li><li>Acquisition-related Costs: Increased by $11,275 thousand to $11,432 thousand in 2026 from $157 thousand in 2025 .</li><li>Interest Expense: Decreased by - $12,641 thousand to $17,000 thousand in 2026 from $29,641 thousand in 2025 .</li><li>Credit Agreement Amendment Fees: Increased by $366 thousand to $3,243 thousand in 2026 from $2,877 thousand in 2025 .</li></ul><h4>Net Income</h4><ul><li>Net income (loss) attributable to Legence Corp.: Was $16,094 thousand in 2026 compared to - $21,213 thousand in 2025 .</li></ul><h4>Cash Flow (Three Months Ended March 31)</h4><ul><li>Cash provided by operating activities: Increased by $90,651 thousand to $120,112 thousand in 2026 from $29,461 thousand in 2025 .</li><li>Cash used in investing activities: Increased by $293,269 thousand to - $299,019 thousand in 2026 from - $5,750 thousand in 2025 .</li><li>Cash provided by (used in) financing activities: Was $193,361 thousand in 2026 compared to - $15,753 thousand in 2025 .</li></ul><h4>Unique Metrics</h4><ul><li>Subcontractor Expense: Increased to $156,109 thousand in 2026 from $71,583 thousand in 2025 .</li><li>Equipment Expense: Increased to $282,682 thousand in 2026 from $109,602 thousand in 2025 .</li><li>Backlog and Awarded Contracts: Totaled $5,382,850 thousand as of March 31, 2026, up from $2,639,875 thousand as of March 31, 2025 .<ul><li>Engineering &amp; Consulting: Backlog and awarded contracts were $1,011,678 thousand in 2026, up from $896,295 thousand in 2025 .</li><li>Installation &amp; Maintenance: Backlog and awarded contracts were $4,371,172 thousand in 2026, up from $1,743,580 thousand in 2025 .</li></ul></li><li>Book-to-Bill Ratio: For the three months ended March 31 was 1.2x in 2026, down from 1.4x in 2025 .<ul><li>Engineering &amp; Consulting: Book-to-bill ratio was 1.0x in 2026, down from 1.3x in 2025 .</li><li>Installation &amp; Maintenance: Book-to-bill ratio was 1.2x in 2026, down from 1.4x in 2025 .</li></ul></li><li>Remaining Performance Obligations: Were approximately $4,196,500 thousand as of March 31, 2026, with 65% to 75% expected to be recognized within the next 12 months .</li><li>Adjusted EBITDA: Was $118,101 thousand in 2026, up from $50,819 thousand in 2025 .</li><li>Adjusted EBITDA Margin: Was 11.4% in 2026, up from 10.0% in 2025 .</li></ul><h4>Outlook and Strategy</h4>Legence Corp. plans to pursue acquisitions to increase scale, expand capabilities, access new clients, or broaden geographic reach, targeting those that enhance growth and profitability . The company anticipates increased future capital expenditures for fabrication capacity expansion within its Installation &amp; Maintenance segment . While primary liquidity sources are deemed sufficient for ongoing needs for at least the next twelve months, additional capital may be sought through equity, equity-linked arrangements, and debt if necessary .

Legence - CL | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 1.038 B