{"id":962675,"date":"2026-05-14T07:29:14","date_gmt":"2026-05-14T11:29:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/legence-reports-first-quarter-2026-financial-results\/"},"modified":"2026-05-14T07:29:14","modified_gmt":"2026-05-14T11:29:14","slug":"legence-reports-first-quarter-2026-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/legence-reports-first-quarter-2026-financial-results\/","title":{"rendered":"Legence Reports First Quarter 2026 Financial Results"},"content":{"rendered":"
\n

Record Quarterly Revenues of $1.04 Billion, a 105% Increase from a Year Ago<\/p>\n

Excluding Bowers Acquisition, Revenues (non-GAAP) Grew by 57% from a Year Ago1<\/sup><\/p>\n

Quarterly Adjusted EBITDA (non-GAAP) Increased 132% from Prior Year2<\/sup><\/p>\n

Record Total Backlog and Awards of $5.38 Billion, 104% Increase from a Year Ago, with Q1 Book-to-Bill of 1.2x<\/p>\n

Establish Second Quarter 2026 Guidance for Revenue of $1.05 Billion – $1.1 Billion and Non-GAAP Adjusted EBITDA of $115 Million – $125 Million<\/p>\n

Raise Full Year 2026 Guidance for Revenue to $4.1 Billion – $4.3 Billion and Non-GAAP Adjusted EBITDA of $470 Million – $490 Million<\/p>\n

SAN JOSE, Calif., May 14, 2026 (GLOBE NEWSWIRE) — Legence Corp. (Nasdaq: LGN) (\u201cLegence\u201d or the \u201cCompany\u201d) today reported financial results for the first quarter ended March 31, 2026.<\/p>\n

\u201cLegence delivered a strong start to the year, as our first quarter 2026 results reflect robust demand and exceptional project execution across the platform,\u201d said Jeff Sprau, Chief Executive Officer of Legence. \u201cRevenues more than doubled year over year, from a combination of healthy organic growth in both Installation & Maintenance and Engineering & Consulting segments, alongside significant contributions from recent acquisitions, particularly The Bowers Group (\u201cBowers\u201d). Our dedicated and skilled craftspeople and engineering professionals continue to deliver complex projects safely, efficiently, and at the highest standards for our customers. We maintain strong visibility into our business, with record quarter-ending backlog and awarded contracts, supported by solid demand and tailwinds across the diverse end markets that we serve.\u201d<\/p>\n

____________________
1<\/sup> Excludes impact of approximately $243.3 million of first quarter 2026 revenues from Bowers. Revenue growth (excluding Bowers) is a non-GAAP financial measure. See the section titled \u201cNon-GAAP Financial Measures\u201d for more information.<\/p>\n

\n 2<\/sup> Adjusted EBITDA is a non-GAAP financial measure. Definitions of non-GAAP financial measures and reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure are included in the section titled \u201cNon-GAAP Financial Measures.\u201d<\/p>\n

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

Revenues for the first quarter 2026 totaled $1.04 billion, an increase of 105.1% from $506.0 million for the first quarter 2025. Excluding the impact of the Bowers acquisition, non-GAAP revenue growth was 57.1%. Gross profit for the first quarter 2026 was $186.2 million with gross margin of 17.9%, compared to gross profit of $111.7 million and gross margin of 22.1% for the first quarter 2025. Excluding the impact of compensation related to legacy Series A Interests and Restricted Series C Interests (previously referred to as \u201clegacy profit interest units\u201d) paid for by entities outside of Legence, we generated non-GAAP Adjusted Gross Profit of $193.8 million and non-GAAP Adjusted Gross Margin of 18.7% for the first quarter 2026, compared to non-GAAP Adjusted Gross Profit of $110.9 million and non-GAAP Adjusted Gross Margin of 21.9% for the first quarter 2025. Net income attributable to Legence for the first quarter 2026 was $16.1 million, or $0.13 per diluted share, compared to a net loss attributable to Legence of $21.2 million for the first quarter 2025. Net income for the first quarter 2026 was $17.4 million, compared to a net loss of $19.1 million for the first quarter 2025. Non-GAAP Adjusted EBITDA for the first quarter 2026 was $118.1 million, an increase of 132.4% from $50.8 million for the first quarter 2025. Refer to \u201cNon-GAAP Financial Measures\u201d for definitions of revenue growth (excluding Bowers), Adjusted Gross Profit, Adjusted Gross Margin, Adjusted EBITDA and Adjusted EBITDA Margin and a reconciliation of each to the most directly comparable GAAP measure.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n Legence Corp. Consolidated Results<\/strong>
\n \n <\/td>\n<\/tr>\n
\n ($ in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n Three Months Ended March 31,<\/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>\n165,801<\/td>\n\u00a0<\/td>\n16.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n145,447<\/td>\n\u00a0<\/td>\n28.7<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n20,354<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.0<\/td>\n%<\/td>\n<\/tr>\n
Installation & Maintenance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n872,092<\/td>\n\u00a0<\/td>\n84.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n360,506<\/td>\n\u00a0<\/td>\n71.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n511,586<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n141.9<\/td>\n%<\/td>\n<\/tr>\n
Consolidated Revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n1,037,893<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n505,953<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n531,940<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n105.1<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended March 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n$<\/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$<\/td>\n50,413<\/td>\n\u00a0<\/td>\n30.4<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n59,653<\/td>\n\u00a0<\/td>\n41.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n(9,240<\/td>\n)<\/td>\n\u00a0<\/td>\n(15.5)%<\/td>\n<\/tr>\n
Installation & Maintenance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n135,741<\/td>\n\u00a0<\/td>\n15.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52,051<\/td>\n\u00a0<\/td>\n14.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n83,690<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n160.8<\/td>\n%<\/td>\n<\/tr>\n
Consolidated Gross Profit<\/td>\n\u00a0<\/td>\n$<\/td>\n186,154<\/td>\n\u00a0<\/td>\n17.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n111,704<\/td>\n\u00a0<\/td>\n22.1<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n74,450<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n66.6<\/td>\n%<\/td>\n<\/tr>\n
Non-GAAP Adjusted Gross Profit<\/td>\n\u00a0<\/td>\n$<\/td>\n193,846<\/td>\n\u00a0<\/td>\n18.7<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n110,871<\/td>\n\u00a0<\/td>\n21.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n82,975<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n74.8<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Adjusted EBITDA<\/td>\n\u00a0<\/td>\n$<\/td>\n118,101<\/td>\n\u00a0<\/td>\n11.4<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n50,819<\/td>\n\u00a0<\/td>\n10.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n67,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n132.4<\/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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

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

Engineering & Consulting segment revenue for the first quarter 2026 totaled $165.8 million, an increase of 14.0% from $145.4 million for the first quarter 2025, driven by higher demand for Program & Project Management services primarily from education, data centers & technology and other clients including hospitality & entertainment, partially offset by lower revenue from Engineering & Design services primarily from education and mixed use clients.<\/p>\n

Engineering & Consulting segment gross profit for the first quarter 2026 totaled $50.4 million, a decrease of 15.5% from $59.7 million for the first 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 $55.0 million and non-GAAP Adjusted Gross Margin of 33.2% for the first quarter 2026, compared to non-GAAP Adjusted Gross Profit of $59.2 million and non-GAAP Adjusted Gross Margin of 40.7% for the first quarter 2025. Refer to \u201cNon-GAAP Financial Measures\u201d for definitions of Adjusted Gross Profit and Adjusted Gross Margin and a reconciliation of each to the most directly comparable GAAP measure. The decrease in non-GAAP Adjusted Gross Profit was primarily driven by lower non-GAAP Adjusted Gross Margin, partially offset by higher revenue. The decrease in non-GAAP Adjusted Gross Margin was primarily driven by a higher percentage of subcontractor expenses, a revenue mix shift towards the Program & Project Management service line and lower Engineering & Design margins.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n Engineering & Consulting Segment Results<\/strong>
\n \n <\/td>\n<\/tr>\n
\n ($ in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n Three Months Ended March 31,<\/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>\n97,571<\/td>\n\u00a0<\/td>\n58.8<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n106,542<\/td>\n\u00a0<\/td>\n73.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n(8,971<\/td>\n)<\/td>\n\u00a0<\/td>\n(8.4)%<\/td>\n<\/tr>\n
Program & Project Management<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n68,230<\/td>\n\u00a0<\/td>\n41.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,905<\/td>\n\u00a0<\/td>\n26.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29,325<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75.4<\/td>\n%<\/td>\n<\/tr>\n
Engineering & Consulting Revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n165,801<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n145,447<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n20,354<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.0<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended March 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n$<\/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$<\/td>\n50,413<\/td>\n\u00a0<\/td>\n30.4<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n59,653<\/td>\n\u00a0<\/td>\n41.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n(9,240<\/td>\n)<\/td>\n\u00a0<\/td>\n(15.5)%<\/td>\n<\/tr>\n
\n Engineering & Consulting Non-GAAP Adjusted Gross Profit<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n55,022<\/td>\n\u00a0<\/td>\n33.2<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n59,218<\/td>\n\u00a0<\/td>\n40.7<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n(4,196<\/td>\n)<\/td>\n\u00a0<\/td>\n(7.1)%<\/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\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

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

Installation & Maintenance segment revenue for the first quarter 2026 totaled $872.1 million, an increase of 141.9% from $360.5 million for the first quarter 2025. Excluding the impact of the Bowers acquisition, non-GAAP Installation & Maintenance segment revenues grew by 74.4% over the comparable periods.3<\/sup> The increase was driven by robust demand for our Installation & Fabrication services, primarily from data centers & technology clients. The increase in Maintenance & Service revenue was primarily from data centers\u00a0& technology, education, life sciences & healthcare, and state & local government 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 first quarter 2026 totaled $135.7 million, an increase of 160.8% from $52.1 million for the first 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 $138.8 million and non-GAAP Adjusted Gross Margin of 15.9% for the first quarter 2026, compared to non-GAAP Adjusted Gross Profit of $51.7 million and non-GAAP Adjusted Gross Margin of 14.3% for the first 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, as well as higher non-GAAP Adjusted Gross Margin. The increase in non-GAAP Adjusted Gross Margin was primarily due to strong project execution and greater economies of scale in customer fulfillment support costs.<\/p>\n

____________________
3<\/sup>\u00a0Excludes impact of approximately $243.3 million of first quarter 2026 revenues from Bowers. Revenue growth (excluding Bowers) is a non-GAAP financial measure. See the section titled \u201cNon-GAAP Financial Measures\u201d for more information.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n<\/tr>\n
\n Installation & Maintenance Segment Results<\/strong>
\n \n <\/td>\n<\/tr>\n
\n ($ in thousands)<\/em>\n <\/td>\n\u00a0<\/td>\n\n Three Months Ended March 31,<\/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>\n758,592<\/td>\n\u00a0<\/td>\n87.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n289,682<\/td>\n\u00a0<\/td>\n80.4<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n468,910<\/td>\n\u00a0<\/td>\n161.9<\/td>\n%<\/td>\n<\/tr>\n
Maintenance & Service<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n113,500<\/td>\n\u00a0<\/td>\n13.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n70,824<\/td>\n\u00a0<\/td>\n19.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42,676<\/td>\n\u00a0<\/td>\n60.3<\/td>\n%<\/td>\n<\/tr>\n
Installation & Maintenance Revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n872,092<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n360,506<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n511,586<\/td>\n\u00a0<\/td>\n141.9<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended March 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year over Year Change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n$<\/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$<\/td>\n135,741<\/td>\n\u00a0<\/td>\n15.6<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n52,051<\/td>\n\u00a0<\/td>\n14.4<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n83,690<\/td>\n\u00a0<\/td>\n160.8<\/td>\n%<\/td>\n<\/tr>\n
\n Installation & Maintenance Non-GAAP Adjusted Gross Profit<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n138,824<\/td>\n\u00a0<\/td>\n15.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n51,653<\/td>\n\u00a0<\/td>\n14.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n87,171<\/td>\n\u00a0<\/td>\n168.8<\/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 $5.38 billion at March 31, 2026, an increase of 103.9% from $2.64 billion at March 31, 2025. The consolidated book-to-bill ratio for the three-month period ended March 31, 2026 was 1.2x. Engineering & Consulting segment backlog and awarded contracts increased by 12.9% year over year, primarily from growth in the state & local government and education end markets. Installation & Maintenance segment backlog and awarded contracts increased by 150.7% year over year, primarily from the acquisition of Bowers and strong growth in the data center & technology end market.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Backlog and Awarded Contracts<\/strong>
\n \n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ($ in thousands)<\/em>
\n \n <\/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 March 31,<\/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>\n1,011,678<\/td>\n\u00a0<\/td>\n$<\/td>\n896,295<\/td>\n\u00a0<\/td>\n$<\/td>\n115,383<\/td>\n\u00a0<\/td>\n12.9<\/td>\n%<\/td>\n<\/tr>\n
Installation & Maintenance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,371,172<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,743,580<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,627,592<\/td>\n\u00a0<\/td>\n150.7<\/td>\n%<\/td>\n<\/tr>\n
Total Backlog and Awarded Contracts<\/td>\n\u00a0<\/td>\n$<\/td>\n5,382,850<\/td>\n\u00a0<\/td>\n$<\/td>\n2,639,875<\/td>\n\u00a0<\/td>\n$<\/td>\n2,742,975<\/td>\n\u00a0<\/td>\n103.9<\/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
March 31<\/td>\n\u00a0<\/td>\n1.2x<\/td>\n\u00a0<\/td>\n1.4x<\/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<\/table>\n

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

At March 31, 2026, the Company had cash and equivalents of approximately $244.6 million and total debt4<\/sup> of approximately $1.02 billion. As a result, net leverage was 2.1 times, based on non-GAAP Adjusted EBITDA of the Company for the last 12 months ended March 31, 2026 (\u201cLegence LTM adjusted EBITDA\u201d). When including non-GAAP EBITDA of Bowers for the nine months ended December 31, 2025 together with Legence LTM adjusted EBITDA, adjusted net leverage was 1.8 times. Refer to \u201cNon-GAAP Financial Measures\u201d for definitions of net leverage and adjusted net leverage and related reconciliations.<\/p>\n

____________________
4<\/sup> Total debt defined as Term Loan balance of $995.3 million and Notes Payable balance of $26.2 million.<\/p>\n

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

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