Limbach(US:LMB)2023-11-09 19:35Financial Performance & Guidance - The company projects revenue between $490 million and $520 million and adjusted EBITDA between $42 million and $45 million[9] - TTM Adjusted EBITDA as of September 30, 2023, was $45.8 million[47] - The company received $15.6 million from the settlement of an outstanding claim during the quarter[21] Strategic Initiatives & Acquisitions - The company is focused on expanding the ODR (Owner Direct Relationships) segment, targeting annual growth in the "low teens"[17] - Limbach acquired ACME, expecting it to contribute $10 million in revenue and over $1 million in EBITDA on a full-year basis[6] - Limbach acquired Industrial Air for $13.5 million in cash, with potential earn-outs of $6.5 million over 2024/2025, expecting it to contribute $30 million in revenue and $4 million in EBITDA on a full year basis[69, 84] Balance Sheet & Capital Allocation - As of September 30, 2023, the company had $57.5 million in cash and cash equivalents and a net cash position of $35.2 million[47, 14] - The company has a credit revolver capacity of $50 million, with $10 million borrowed as of September 30, 2023[47] Segment Performance - In Q3 2023, ODR revenue was $65.8 million, compared to $59.7 million in Q3 2022, representing a 4.4% increase[13] - Gross profit from ODR in Q3 2023 was $19.3 million, with a margin of 29.3%, compared to $15.2 million in Q3 2022, with a margin of 25.7%, representing a 33.6% increase[13]