Limbach Holdings (NASDAQ: LMB) reported Q3 EPS of ($0.46), versus $0.00 reported last year. Revenue for the quarter came in at $135.06 million versus the consensus estimate of $140.77 million.

Charlie Bacon, CEO of Limbach, commented, “While we are very pleased with the operating performance of our business as a whole, we are very disappointed with the financial performance of our Mid-Atlantic region. The additional expenses were primarily caused by elevated market activity and a resulting shortage of skilled labor. The Company has taken a number of actions that will be discussed in our earnings call. The Mid-Atlantic region has a long history of profitable operations, and we believe that it is one of the best regions in the U.S. for our business to operate within. We maintain a core group of talented staff and craft workers in this region along with a strong set of relationships with our customers.”

Mr. Bacon concluded, “Our booked backlog and promised work has us set up well for 2019 and into 2020, allowing us to be disciplined in our sales approach. Despite the challenges in the Mid-Atlantic region, we continued to report solid revenue growth and expansion throughout several markets. We continue to observe favorable trends that should support the performance of our business units into 2019, and we expect to report solid progress in the coming quarter.”

GUIDANCE:

Limbach Holdings sees FY2018 revenue of $530-550 million, versus the consensus of $541.82 million.

For earnings history and earnings-related data on Limbach Holdings (LMB) click here.