Legence Corp. SEC 10-Q Report

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2025.11.14 16:33
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Legence Corp.'s latest SEC 10-Q report reveals significant financial improvements, with revenue rising to $708 million from $560.8 million, and gross profit increasing to $148.1 million. The company reported a net income of $0.4 million, reversing a previous loss. The report highlights growth in Engineering & Consulting and Installation & Maintenance segments, and geographic expansion in the mid-Atlantic. Legence anticipates fulfilling 75% of its performance obligations within a year, focusing on service and geographic expansion through acquisitions.

Legence Corp., a leading provider of engineering, consulting, installation, and maintenance services, has released its latest Form 10-Q report, showcasing significant financial and operational improvements. The report highlights the company's robust revenue growth, improved profitability, and strategic business expansions, reflecting its strong market position and future growth potential.

Financial Highlights

  • Revenue: $708.0 million, reflecting a significant increase from $560.8 million in the prior year period, driven by growth in both the Engineering & Consulting and Installation & Maintenance segments.
  • Gross Profit: $148.1 million, up from $118.5 million, indicating improved profitability and cost management.
  • Income from Operations: $37.2 million, compared to $27.0 million in the previous year, showcasing enhanced operational efficiency.
  • Net Income: $0.4 million, a turnaround from a loss of $0.7 million, highlighting improved bottom-line performance.
  • Net loss attributable to Legence: $(0.6) million, compared to $(1.1) million, showing a reduction in losses attributable to the company.
  • Net loss per Class A Common Stock—basic and diluted: $(0.02), consistent with the prior period, reflecting the impact of the corporate reorganization and IPO.

Business Highlights

  • Revenue Segments: The company operates in two main segments: Engineering & Consulting and Installation & Maintenance. The Engineering & Consulting segment includes Engineering & Design and Program & Project Management services, while the Installation & Maintenance segment includes Installation & Fabrication and Maintenance & Service. For the three months ended September 30, 2025, the Engineering & Consulting segment generated $212.2 million, and the Installation & Maintenance segment generated $495.8 million.
  • Geographical Performance: The company has expanded its geographic footprint, particularly in the mid-Atlantic region, through acquisitions. This expansion is expected to enhance the company's mechanical contracting capabilities.
  • Future Outlook: The company anticipates recognizing approximately 75% of its remaining performance obligations within the next twelve months, with the remainder expected to be recognized by September 30, 2027. The company is also focused on expanding its service offerings and geographic reach through strategic acquisitions.

SEC Filing: Legence Corp. [ LGN ] - 10-Q - Nov. 14, 2025

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