Legence 'A'

Legence increased revenue to $1.262bn (+111%) and adjusted EBITDA to $155m, but missed adjusted EPS at -$0.37 versus consensus $0.21, prompting a 6.3% premarket dip. The company raised its full-year outlook (revenue $4.7–4.8bn, adjusted EBITDA $565–585m) and reported a record backlog of $5.7bn. Management cited continued strong demand in data centers, semiconductors and life sciences, but warned of margin pressure from a mix shift toward more installation work and acquisition-related effects. » Mere på de.investing.com

S&P Global Ratings raised Legence Holdings’ rating from B+ to BB- and set the outlook to positive. The move was justified by the reduced Blackstone stake following the IPO, better-than-expected business performance in Q1/2026 and a significant reduction in debt. Legence reported strong growth in high-tech end markets, lifted its full-year guidance and expects 2026 pro‑forma revenue growth of around 63% with adjusted EBITDA of about USD 450 million. S&P sees further upside potential if leverage and cash-flow metrics continue to improve or the sponsor stake declines further. » Mere på de.investing.com

Legence has adjusted the terms of its $995 million term loan facility and reduced the interest rate to SOFR plus 2.00% (down 25 basis points). If the company is upgraded by a major rating agency, the rate can fall further to SOFR plus 1.75%. The change resets the six-month 101% soft-call protection for certain refinancings. According to InvestingPro, Legence has total debt of $1.18 billion and a moderate leverage; analysts expect net income growth for the year. » Mere på de.investing.com

Legence reported Q1 2026 EPS of $0.13 versus $0.08 expected and revenue of $1.038 billion (up 105% year-over-year). Growth was driven by the installation and maintenance segment; the acquisition of the Bowers Group contributed $240 million, while organic revenue growth was 57%. Adjusted EBITDA rose to $118 million, and adjusted gross margin fell to 18.7%. After the results, the stock rose 5.5% in premarket trading and was trading near its 52-week high. » Mere på de.investing.com