Legence - CL | 8-K: FY2025 Q3 Revenue: USD 708.01 M

Revenue: As of FY2025 Q3, the actual value is USD 708.01 M.

EPS: As of FY2025 Q3, the actual value is USD -0.02.

EBIT: As of FY2025 Q3, the actual value is USD 64.31 M.

Segment Revenue

• Engineering & Consulting: Revenue for the third quarter of 2025 was $212.2 million, a 9.5% increase from $193.8 million in the third quarter of 2024.
• Installation & Maintenance: Revenue for the third quarter of 2025 was $495.8 million, a 35.1% increase from $367.0 million in the third quarter of 2024.

Operational Metrics

• Net Loss: The net loss attributable to Legence for the third quarter of 2025 was - $0.6 million, compared to a net loss of $1.1 million for the third quarter of 2024.
• Gross Profit: Gross profit for the third quarter of 2025 was $148.1 million with a gross margin of 20.9%, compared to $118.5 million and a gross margin of 21.1% for the third quarter of 2024.
• Adjusted EBITDA: Non-GAAP Adjusted EBITDA for the third quarter of 2025 was $88.8 million, an increase of 38.9% from $64.0 million for the third quarter of 2024.

Cash Flow

• Operating Cash Flow: Cash provided by operating activities for the nine months ended September 30, 2025 was $162.1 million, compared to $23.2 million for the same period in 2024.

Unique Metrics

• Backlog and Awarded Contracts: Total backlog and awarded contracts as of September 30, 2025 were $3.1 billion, a 29.4% increase from $2.4 billion as of September 30, 2024.

Outlook / Guidance

• Legence has established fourth quarter 2025 guidance for revenue between $600 million and $630 million, and non-GAAP adjusted EBITDA between $60 million and $65 million.
• Full year 2026 guidance includes revenue between $2.65 billion and $2.85 billion, and non-GAAP adjusted EBITDA between $295 million and $315 million.
• The guidance excludes any effect from the announced acquisition of Bowers, expected to close in the first quarter of 2026.