Legence Doubles Q2 Revenue on Bowers Deal, Lifts 2026 Outlook
LGN has more than doubled off its 52-week low of $26.96.
Summary
Legence reported Q2 revenue of $1.26 billion, more than double the prior year, driven by the Bowers acquisition and strong data center demand. Adjusted EBITDA also more than doubled to $154.6 million. The company raised full-year 2026 guidance to $4.7-$4.8 billion in revenue and $565-$585 million in adjusted EBITDA, with Q3 guidance of $1.225-$1.275 billion revenue and $150-$160 million adjusted EBITDA. Gross margin declined due to a shift toward Installation & Maintenance and higher indirect fulfillment costs, but the raised outlook signals confidence in continued growth. This follows the S&P upgrade to BB- in June, reflecting improving credit quality. The stock closed at $68.68 on August 12, and the raised guidance is likely to drive a positive reaction.
At the time of this announcement, LGN was trading at $73.00 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $7.4B. The 52-week trading range was $26.96 to $107.24. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.