Legence Reports Record Q1 Results, Raises Full-Year Revenue & EBITDA Guidance Significantly

summarizeSummary

Legence Corp. announced record first-quarter 2026 financial results, with revenue up 105% and a shift to net income, leading to a significant increase in full-year revenue and Adjusted EBITDA guidance.

check_boxKey Events · Earnings and Guidance · LGN

• Record Q1 Financial Performance

  First-quarter 2026 revenues surged 105.1% year-over-year to $1.04 billion. Net income attributable to Legence was $16.1 million ($0.13 per diluted share), a significant improvement from a net loss of $21.2 million in Q1 2025. Adjusted EBITDA increased 132.4% to $118.1 million.

• Substantial Full-Year Guidance Raise

  Legence raised its full-year 2026 revenue guidance to $4.1 billion - $4.3 billion (up from $3.7 billion - $3.9 billion) and Non-GAAP Adjusted EBITDA guidance to $470 million - $490 million (up from $400 million - $430 million).

• Strong Organic Growth and Backlog

  Excluding the Bowers acquisition, non-GAAP revenue growth was 57.1%. Total backlog and awarded contracts doubled year-over-year to $5.38 billion, with a Q1 book-to-bill ratio of 1.2x, indicating strong future revenue visibility.

auto_awesomeAnalysis · LGN · Real Estate & Construction

Legence Corp. delivered exceptionally strong first-quarter results, with revenue more than doubling year-over-year and a significant turnaround from a net loss to net income. The company also substantially raised its full-year 2026 revenue and Adjusted EBITDA guidance, signaling robust business momentum and an improved financial outlook. This performance, coupled with a doubling of backlog, indicates strong demand and successful project execution, particularly in data centers and technology.