Why Is Limbach Holdings Stock Down Today?

Limbach Holdings shares remain sharply lower today after a 35.5% single-day decline on August 4, 2026. The mechanical and building-systems contractor reported second-quarter revenue of $173.46 million against a $177.25 million estimate — still up 21.9% from $142.2 million a year earlier — alongside adjusted earnings of $0.64 per share versus roughly $0.73 expected.

The size of the reaction traces to a divergence inside the company's own guidance. Limbach raised full-year revenue guidance to $760 million-$790 million from a prior $730 million-$760 million, while cutting full-year adjusted EBITDA guidance to $78 million-$84 million from $90 million-$94 million, a reduction of roughly 12% at the midpoint. Read together, the company expects to do more business while earning meaningfully less profit on each dollar of that revenue — margin compression rather than a demand problem, which for a contractor executing fixed-price and cost-plus work usually points to cost pressure on projects already underway. For the full breakdown, see our dated report on the guidance divergence.