Company: LGN
Filing Date: 2025-02-14
Form Type: DRS
Source: 0000950123-25-002471
Chunk: 117

Company: Legence Corp.
Filing Date: 2025-02-14
Form: DRS
Chunk 117
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 fourth quarter of 2023. The Program & Project Management service line accounted for $16.5 million of the increase in Engineering & Consulting segment revenue. Higher job volumes, primarily from government clients, drove the increase in Program & Project Management service line revenue. Installation & Maintenance: Installation & Maintenance segment revenue increased $270.9 million for the year ended December 31, 2023 compared to the year ended December 31, 2022. The Installation & Fabrication service line accounted for $204.7 million of the increase in Installation & Maintenance segment revenue. Higher job volumes, primarily from data centers & technology clients, accounted for approximately 60% of the increase in Installation & Fabrication service line revenue. The contribution from acquisitions completed in 2023 accounted for approximately 40% of the increase in Installation & Fabrication service line revenue. The Maintenance & Service service line accounted for $66.2 million of the increase in the Installation & Maintenance segment revenue. Approximately 80% of the increase in Maintenance & Service service line revenue was the result of higher job volumes and 20% was the result of an acquisition completed in 2023. Gross Profit Consolidated gross profit increased $81.4 million, or 34.8%, during the year ended December 31, 2023 compared to the year ended December 31, 2022. The increase is attributable to the results of our operating segments, which are discussed below. The following table presents our gross profit, as well as gross profit margin expressed as a percentage of revenue, by reportable segment (dollars in thousands):

|                                    |     | Year Ended December 31, |    2022 |     |          |      |   |     |   |    2023 |     |          |      |   |     | Year over Year 
 Change         |        |     |          |      |   |
|:-----------------------------------|:----|:------------------------|--------:|:----|:---------|-----:|:--|:----|:--|--------:|:----|:---------|-----:|:--|:----|:---------------|-------:|:----|:---------|-----:|:--|
|                                    |     | $                       |         |     | % Margin |      |   |     | $ |         |     | % Margin |      |   |     | $              |        |     | % Margin |      |   |
| Gross profit                       |     |