Legence Corp. Class A Common stock
Legence Corp. Class A Common stock Q4 FY2025 earnings call
March 27, 2026 · fiscal period ended 2025-12
EPS · actual vs est
Revenue · actual vs est
Summary
Generated 2026-03-27
Management highlights
Jeff highlighted strong Q4 results with revenues up 35% to a record $738M, adjusted EBITDA up 53%. Bowers integration is progressing well, with regulatory approval received earlier than expected. Tuck-in acquisition of Metrix in Seattle complements existing engineering team. Craft labor force grew to ~6,600. Backlog grew 49% YOY and 20% QOQ
Segment performance
Total revenues in Q4 2025 reached $738 million, up 35% from the prior year, with full-year revenues up 22%. Adjusted EBITDA grew 53% in Q4 and 30% for the year. Engineering and consulting segment had Q4 revenue of $173 million (+10%), full-year +21%. Installation and maintenance segment had Q4 revenue of $565 million (+44%), full-year +22%
Guidance
First quarter 2026 guidance: consolidated revenue $925M - $950M, adjusted EBITDA $90M - $100M. Full-year 2026 revenue guidance increased to $3.7B - $3.9B, adjusted EBITDA to $400M - $430M, up from prior guidance
Risks
Comments contain forward-looking statements, actual results may differ materially from expectations, subject to risks in SEC filings
Q&A highlights
Q: Joseph Osha asked about craft labor force availability and supply chain challenges in data centers.
A: Steve Hansen responded no supply chain issues pushing schedules out.
Q: Adam Hubei asked about data center technology revenue breakdown and 2026 growth.
A: Installation and fabrication growing, backlog elongation with larger projects.
Q: Sharif Elmaghrabi asked about Q4 revenue driver.
A: Mostly from backlog and large projects.
Q: Brian Brophy asked about I&M gross margins.
A: Exceptional project execution, increased fab-only proportion.
Q: Michael Dudas asked about non-data center growth.
A: Life science, healthcare, education have growth.
Q: Derek Soderberg asked about proprietary software.
A: Trove has de minimis revenue impact.
Q: Chris Sung asked about data center deliveries and backlog new vs existing.
A: Still opportunities in 26-28, backlog includes new and existing clients.
Q: Joseph Osha asked about 800-volt DC shift.
A: Not encountered yet, no big impact.
Q: Oliver Davies asked about organic growth cadence.
A: Second and third quarters peak due to program and project management in education
Key numbers
Reported versus consensus
Earnings calendar feed
| Metric | Reported | Consensus | Delta | Prior year |
|---|---|---|---|---|
| EPS | $-0.01 | $-0.03 | +66.7% | — |
| Revenue | $737.6M | $619.3M | +19.1% | — |
Transcript
March 27, 2026Full transcript unavailable for redistribution
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Prior quarters
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