{"id":1020249,"date":"2026-11-12T08:56:14","date_gmt":"2026-11-12T13:56:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/legence-reports-third-quarter-2026-financial-results\/"},"modified":"2026-11-12T08:56:14","modified_gmt":"2026-11-12T13:56:14","slug":"legence-reports-third-quarter-2026-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/legence-reports-third-quarter-2026-financial-results\/","title":{"rendered":"Legence Reports Third Quarter 2026 Financial Results"},"content":{"rendered":"
\n

Record Quarterly Revenues of $1.31 Billion, an 85% Increase from a Year Ago<\/p>\n

Excluding Bowers Acquisition, Revenues (non-GAAP) Grew by 40% from a Year Ago1<\/sup><\/p>\n

Quarterly Adjusted EBITDA (non-GAAP) Increased 99% from Prior Year2<\/sup><\/p>\n

Record Total Backlog and Awarded Contracts of $5.90 Billion, a 92% Increase from a Year Ago<\/p>\n

Board Authorizes $150 Million Stock Repurchase Program<\/p>\n

Establish Fourth Quarter 2026 Guidance for Revenue of $1.26 Billion – $1.30 Billion and Non-GAAP Adjusted EBITDA of $160 Million – $170 Million<\/p>\n

Raise Full Year 2026 Guidance for Revenue to $4.87 Billion – $4.91 Billion and Non-GAAP Adjusted EBITDA of $610 Million – $620 Million<\/p>\n

Establish Full Year 2027 Guidance for Revenue of $5.3 Billion – $5.6 Billion and Non-GAAP Adjusted EBITDA of $690 Million – $730 Million<\/p>\n

SAN JOSE, Calif., Nov. 12, 2026 (GLOBE NEWSWIRE) — Legence Corp. (Nasdaq: LGN) (\u201cLegence\u201d or the \u201cCompany\u201d) today reported financial results for the third quarter ended September 30, 2026.<\/p>\n

\u201cStrong customer demand drove record third-quarter revenue, Adjusted EBITDA, and backlog and awarded contracts for Legence,\u201d said Jeff Sprau, Chief Executive Officer of Legence. \u201cOur team continues to deliver exceptional project execution, which along with an increasing mix of fabrication work, contributed to the delivery of the highest Adjusted EBITDA margin in company history. Additionally, we also recently acquired a mechanical contractor in central Texas, creating an ideal platform to expand customer support across this high-growth region. Our confidence in the fundamentals of our business is reflected in our increased guidance for this year, and growth embedded in our initial 2027 guidance. This outlook also underpins the Board’s authorization of our $150 million stock repurchase program, which broadens our capital allocation options.\u201d<\/p>\n

\n Third Quarter 2026 Consolidated Results:<\/strong>\n <\/p>\n

Revenues for the third quarter 2026 totaled $1.31 billion, an increase of 85.1% from $708.0 million for the third quarter 2025. Excluding the impact of the acquisition of The Bowers Group, Inc. (“Bowers”), non-GAAP revenue growth was 39.5%. Gross profit for the third quarter 2026 was $275.5 million with gross margin of 21.0%, compared to gross profit of $148.1 million and gross margin of 20.9% for the third quarter 2025. Excluding the impact of compensation related to legacy Series A Interests and Restricted Series C Interests paid for by entities outside of Legence, we generated non-GAAP Adjusted Gross Profit of $266.6 million and non-GAAP Adjusted Gross Margin of 20.3% for the third quarter 2026, compared to non-GAAP Adjusted Gross Profit of $151.9 million and non-GAAP Adjusted Gross Margin of 21.5% for the third quarter 2025. The decrease in non-GAAP Adjusted Gross Margin was primarily due to a revenue mix shift towards Installation & Maintenance. Net income attributable to Legence for the third quarter 2026 was $89.6 million, or $1.15 per diluted share, compared to a net loss attributable to Legence of $0.6 million for the third quarter 2025, or $(0.02) per diluted share. Net income for the third quarter 2026 was $133.9 million, compared to a net income of $0.4 million for the third quarter 2025. Non-GAAP Adjusted EBITDA for the third quarter 2026 was $177.0 million, an increase of 99.3% from $88.8 million for the third quarter 2025. Refer to \u201cNon-GAAP Financial Measures\u201d for definitions of revenue growth (excluding Bowers), Adjusted Gross Profit, Adjusted Gross Margin, Adjusted EBITDA and Adjusted EBITDA Margin and a reconciliation of each to the most directly comparable GAAP measure.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Legence Corp. Consolidated Results<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ($ in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n Three Months Ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Revenues:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Engineering & Consulting<\/td>\n\u00a0<\/td>\n$<\/td>\n199,940<\/td>\n\u00a0<\/td>\n15.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n212,172<\/td>\n\u00a0<\/td>\n30.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n(12,232<\/td>\n)<\/td>\n\u00a0<\/td>\n(5.8)%<\/td>\n<\/tr>\n
Installation & Maintenance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,110,728<\/td>\n\u00a0<\/td>\n84.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n495,834<\/td>\n\u00a0<\/td>\n70.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n614,894<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n124.0<\/td>\n%<\/td>\n<\/tr>\n
Consolidated Revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n1,310,668<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n708,006<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n602,662<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85.1<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n% Margin<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n% Margin<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Gross Profit:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Engineering & Consulting<\/td>\n\u00a0<\/td>\n$<\/td>\n71,723<\/td>\n\u00a0<\/td>\n35.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n67,326<\/td>\n\u00a0<\/td>\n31.7<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n4,397<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.5<\/td>\n%<\/td>\n<\/tr>\n
Installation & Maintenance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n203,776<\/td>\n\u00a0<\/td>\n18.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n80,733<\/td>\n\u00a0<\/td>\n16.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n123,043<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n152.4<\/td>\n%<\/td>\n<\/tr>\n
Consolidated Gross Profit<\/td>\n\u00a0<\/td>\n$<\/td>\n275,499<\/td>\n\u00a0<\/td>\n21.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n148,059<\/td>\n\u00a0<\/td>\n20.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n127,440<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n86.1<\/td>\n%<\/td>\n<\/tr>\n
Non-GAAP Adjusted Gross Profit<\/td>\n\u00a0<\/td>\n$<\/td>\n266,626<\/td>\n\u00a0<\/td>\n20.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n151,903<\/td>\n\u00a0<\/td>\n21.5<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n114,723<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75.5<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Adjusted EBITDA<\/td>\n\u00a0<\/td>\n$<\/td>\n177,008<\/td>\n\u00a0<\/td>\n13.5<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n88,821<\/td>\n\u00a0<\/td>\n12.5<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n88,187<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n99.3<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n Engineering & Consulting Segment Results:<\/strong>\n <\/p>\n

Engineering & Consulting segment revenue for the third quarter 2026 totaled $199.9 million, a decrease of (5.8)% from $212.2 million for the third quarter 2025, driven by a decline in Program & Project Management services and modestly lower Engineering & Design revenue, primarily from education clients.<\/p>\n

Engineering & Consulting segment gross profit for the third quarter 2026 totaled $71.7 million, an increase of 6.5% from $67.3 million for the third quarter 2025. Excluding the impact of compensation related to legacy Series A Interests and Restricted Series C Interests paid for by entities outside of Legence, we generated non-GAAP Adjusted Gross Profit of $66.6 million and non-GAAP Adjusted Gross Margin of 33.3% for the third quarter 2026, compared to non-GAAP Adjusted Gross Profit of $69.6 million and non-GAAP Adjusted Gross Margin of 32.8% for the third quarter 2025. Refer to \u201cNon-GAAP Financial Measures\u201d for definitions of Adjusted Gross Profit and Adjusted Gross Margin and a reconciliation of each to the most directly comparable GAAP measure. The decrease in non-GAAP Adjusted Gross Profit was primarily driven by lower revenue, partially offset by higher non-GAAP Adjusted Gross Margin. The increase in non-GAAP Adjusted Gross Margin was primarily driven by higher project margins in our Program & Project Management service line, and a favorable revenue mix shift toward Engineering & Design.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Engineering & Consulting Segment Results<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ($ in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n Three Months Ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Segment Revenues:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Engineering & Design<\/td>\n\u00a0<\/td>\n$<\/td>\n109,144<\/td>\n\u00a0<\/td>\n54.6<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n110,939<\/td>\n\u00a0<\/td>\n52.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n(1,795<\/td>\n)<\/td>\n\u00a0<\/td>\n(1.6)%<\/td>\n<\/tr>\n
Program & Project Management<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90,796<\/td>\n\u00a0<\/td>\n45.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n101,233<\/td>\n\u00a0<\/td>\n47.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(10,437<\/td>\n)<\/td>\n\u00a0<\/td>\n(10.3)%<\/td>\n<\/tr>\n
Engineering & Consulting Revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n199,940<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n212,172<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n(12,232<\/td>\n)<\/td>\n\u00a0<\/td>\n(5.8)%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n% Margin<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n% Margin<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Engineering & Consulting Gross Profit<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n71,723<\/td>\n\u00a0<\/td>\n35.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n67,326<\/td>\n\u00a0<\/td>\n31.7<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n4,397<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.5<\/td>\n%<\/td>\n<\/tr>\n
\n Engineering & Consulting Non-GAAP Adjusted Gross Profit<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n66,552<\/td>\n\u00a0<\/td>\n33.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n69,570<\/td>\n\u00a0<\/td>\n32.8<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,018<\/td>\n)<\/td>\n\u00a0<\/td>\n(4.3)%<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n Installation & Maintenance Segment Results:<\/strong>\n <\/p>\n

Installation & Maintenance segment revenue for the third quarter 2026 totaled $1.11 billion, an increase of 124.0% from $495.8 million for the third quarter 2025. Excluding the impact of the Bowers acquisition, non-GAAP Installation & Maintenance segment revenues grew by 58.9% over the comparable period.3<\/sup> The increase was driven by strong demand for our Installation & Fabrication services, primarily from data centers & technology clients. The increase in Maintenance & Service revenue was primarily driven by the acquisition of Bowers and growth from education and other clients. See the section titled \u201cNon-GAAP Financial Measures\u201d for more information about non-GAAP revenue growth (excluding Bowers).<\/p>\n

Installation & Maintenance segment gross profit for the third quarter 2026 totaled $203.8 million, an increase of 152.4% from $80.7 million for the third quarter 2025. Excluding the impact of compensation related to legacy Series A Interests and Restricted Series C Interests paid for by entities outside of Legence, we generated non-GAAP Adjusted Gross Profit of $200.1 million and non-GAAP Adjusted Gross Margin of 18.0% for the third quarter 2026, compared to non-GAAP Adjusted Gross Profit of $82.3 million and non-GAAP Adjusted Gross Margin of 16.6% for the third quarter 2025. Refer to \u201cNon-GAAP Financial Measures\u201d for definitions of Adjusted Gross Profit and Adjusted Gross Margin and a reconciliation of each to the most directly comparable GAAP measure. The increase in non-GAAP Adjusted Gross Profit was primarily driven by revenue growth and higher non-GAAP Adjusted Gross Margin. The increase in non-GAAP Adjusted Gross Margin was primarily driven by higher project margins in our Installation & Fabrication service line and greater economies of scale in customer fulfillment support costs, partially offset by a revenue mix shift toward our Installation & Fabrication service line and lower project margins in our Maintenance & Service service line.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Installation & Maintenance Segment Results<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ($ in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n Three Months Ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Segment Revenues:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Installation & Fabrication<\/td>\n\u00a0<\/td>\n$<\/td>\n992,521<\/td>\n\u00a0<\/td>\n89.4<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n408,717<\/td>\n\u00a0<\/td>\n82.4<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n583,804<\/td>\n\u00a0<\/td>\n142.8<\/td>\n%<\/td>\n<\/tr>\n
Maintenance & Service<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n118,207<\/td>\n\u00a0<\/td>\n10.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n87,117<\/td>\n\u00a0<\/td>\n17.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,090<\/td>\n\u00a0<\/td>\n35.7<\/td>\n%<\/td>\n<\/tr>\n
Installation & Maintenance Revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n1,110,728<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n495,834<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n614,894<\/td>\n\u00a0<\/td>\n124.0<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n% Margin<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n% Margin<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\n Installation & Maintenance Gross Profit<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n203,776<\/td>\n\u00a0<\/td>\n18.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n80,733<\/td>\n\u00a0<\/td>\n16.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n123,043<\/td>\n\u00a0<\/td>\n152.4<\/td>\n%<\/td>\n<\/tr>\n
\n Installation & Maintenance Non-GAAP Adjusted Gross Profit<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n200,074<\/td>\n\u00a0<\/td>\n18.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n82,333<\/td>\n\u00a0<\/td>\n16.6<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n117,741<\/td>\n\u00a0<\/td>\n143.0<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n Backlog and Awarded Contracts and Book-to-Bill Ratio<\/strong>\n <\/p>\n

Backlog and awarded contracts totaled $5.90 billion at September 30, 2026, an increase of 92.5% from $3.07 billion at September 30, 2025. The consolidated book-to-bill ratio for the three-month period ended September 30, 2026 was 1.2x. Engineering & Consulting segment backlog and awarded contracts increased by 32.6% year over year, primarily from growth in the education and state & local government end markets. Installation & Maintenance segment backlog and awarded contracts increased by 117.2% year over year, primarily from the acquisition of Bowers and strong growth in the data centers & technology and education end markets.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Backlog and Awarded Contracts<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ($ in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n As of September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2026<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2025<\/td>\n\u00a0<\/td>\n$<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
Engineering & Consulting<\/td>\n\u00a0<\/td>\n$<\/td>\n1,186,759<\/td>\n\u00a0<\/td>\n$<\/td>\n894,734<\/td>\n\u00a0<\/td>\n$<\/td>\n292,025<\/td>\n\u00a0<\/td>\n32.6<\/td>\n%<\/td>\n<\/tr>\n
Installation & Maintenance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,713,825<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,170,714<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,543,111<\/td>\n\u00a0<\/td>\n117.2<\/td>\n%<\/td>\n<\/tr>\n
Total Backlog and Awarded Contracts<\/td>\n\u00a0<\/td>\n$<\/td>\n5,900,584<\/td>\n\u00a0<\/td>\n$<\/td>\n3,065,448<\/td>\n\u00a0<\/td>\n$<\/td>\n2,835,136<\/td>\n\u00a0<\/td>\n92.5<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Book-to-bill ratio for the three months ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
September 30<\/td>\n\u00a0<\/td>\n1.2x<\/td>\n\u00a0<\/td>\n1.5x<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Book-to-bill ratio for the nine months ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
September 30<\/td>\n\u00a0<\/td>\n1.2x<\/td>\n\u00a0<\/td>\n1.3x<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n Acquisitions<\/strong>\n <\/p>\n

On November 1, 2026, the Company completed the acquisition of Central Texas Industrial Contractors (“CTI”). Founded in 2010, CTI is an Austin, Texas-based mechanical contractor supporting mission-critical infrastructure, with a strong presence in the semiconductor end market in central Texas. \u201cTexas is a strategic geographic region for Legence. With CTI, we immediately establish a reputable platform to expand our business and support our customers in this region,\u201d said Jeff Sprau, Chief Executive Officer of Legence. \u201cCTI also adds a high-quality list of new customers and shares a strong cultural alignment with Legence. We are excited to welcome CTI to our team, and look forward to expanding our service reach and accelerating our growth together in this geography.\u201d For the calendar year 2026, CTI is expected to generate revenue of approximately $40 million, of which Legence expects to record approximately $6 to $8 million of revenue during the fourth quarter of 2026.<\/p>\n

\n Share Repurchase Plan<\/strong>\n <\/p>\n

In early November 2026, the Company\u2019s Board of Directors authorized a $150 million share repurchase plan, reflecting the Company\u2019s strong financial position and outlook, as well as a commitment to a disciplined approach to capital allocation. The new share repurchase plan will be executed in accordance with applicable securities laws and regulations, does not require any specific number of shares to be acquired, and may be suspended or discontinued at any time at the Company\u2019s discretion.<\/p>\n

\n Balance Sheet<\/strong>\n <\/p>\n

At September 30, 2026, the Company had cash and cash equivalents of approximately $340.8 million and total debt4<\/sup> of approximately $1.02 billion. As a result, net leverage was 1.3 times, based on non-GAAP Adjusted EBITDA of the Company for the last 12 months ended September 30, 2026 (\u201cLegence LTM adjusted EBITDA\u201d). When including non-GAAP EBITDA of Bowers for the three months ended December 31, 2025 together with Legence LTM adjusted EBITDA, adjusted net leverage was 1.2 times. Refer to \u201cNon-GAAP Financial Measures\u201d for definitions of net leverage and adjusted net leverage and related reconciliations.<\/p>\n

\n Guidance<\/strong>\n <\/p>\n

Legence announces the following guidance for the fourth quarter of 2026:<\/p>\n