These Analysts Increase Their Forecasts On Legence After Q3 Earnings

Group 1: Financial Performance - Legence Corp reported third-quarter revenue of $708.01 million, a 26.2% increase year-over-year, exceeding analyst expectations of $639.78 million [1] - The company's gross margin decreased to 20.9% from 21.1% a year earlier, while earnings per share (EPS) showed a loss of 2 cents, missing the consensus estimate of a profit of 6 cents [1] - For the fourth quarter, Legence expects revenue between $600 million and $630 million, slightly below the consensus estimate of $608.45 million, and adjusted EBITDA of $60 million to $65 million [2] Group 2: Future Projections - For fiscal 2026, Legence projects revenue between $2.65 billion and $2.85 billion, surpassing the consensus estimate of $2.63 billion, with adjusted EBITDA expected to be between $295 million and $315 million [3] Group 3: Stock Performance and Analyst Ratings - Following the earnings announcement, Legence shares increased by 3.7%, trading at $41.77 [3] - Analysts have adjusted their price targets for Legence, with BMO Capital raising it from $36 to $46, RBC Capital from $36 to $48, Goldman Sachs from $37 to $46, and Barclays from $34 to $37, while maintaining their respective ratings [5]