Limbach

Q2 FY2026 EarningsQ2 FY2026 results missed consensus estimates significantly across the bottom line despite a narrow revenue beat. Normalized EPS of $0.64 fell 30.9% short of the $0.93 expectation, while Gross Margin compressed to 21.5% vs. the 25.8% anticipated. The underperformance was driven by project timing issues and the lower-margin profile of the Pioneer Power acquisition. Crucially, management slashed full-year Adjusted EBITDA guidance by ~13% at the midpoint, signaling near-term profitability headwinds despite raising the revenue outlook due to higher organic growth assumptions.