Limbach Holdings, Inc. (NASDAQ:LMB) just released its latest quarterly report and things are not looking great. It wasn't a great result overall - while revenue fell marginally short of analyst estimates at US$173m, statutory earnings missed forecasts by an incredible 47%, coming in at just US$0.39 per share. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Limbach Holdings after the latest results.

Following the latest results, Limbach Holdings' five analysts are now forecasting revenues of US$760.0m in 2026. This would be a decent 11% improvement in revenue compared to the last 12 months. Per-share earnings are expected to bounce 26% to US$3.20. Before this earnings report, the analysts had been forecasting revenues of US$743.3m and earnings per share (EPS) of US$3.96 in 2026. While next year's revenue estimates increased, there was also a substantial drop in EPS expectations, suggesting the consensus has a bit of a mixed view of these results.

The consensus price target fell 29% to US$82.40, suggesting that the analysts are primarily focused on earnings as the driver of value for this business. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Limbach Holdings, with the most bullish analyst valuing it at US$107 and the most bearish at US$60.00 per share. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Limbach Holdings' past performance and to peers in the same industry. The analysts are definitely expecting Limbach Holdings' growth to accelerate, with the forecast 24% annualised growth to the end of 2026 ranking favourably alongside historical growth of 5.6% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 12% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Limbach Holdings to grow faster than the wider industry.

The Bottom Line

The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Limbach Holdings. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. Furthermore, the analysts also cut their price targets, suggesting that the latest news has led to greater pessimism about the intrinsic value of the business.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Limbach Holdings going out to 2028, and you can see them free on our platform here..

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.