Company: LGN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0002052568-25-000018
Chunk: 192

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 192
---
 

September 30,20252024Engineering & ConsultingBacklog$552,181 $546,371Awarded contracts342,553 335,098 Backlog and awarded contracts$894,734 $881,469 Book-to-bill ratio for the three months ended September 301.0x1.0xBook-to-bill ratio for the nine months ended September 301.1x1.1xInstallation & MaintenanceBacklog$1,765,626 $1,028,531 Awarded contracts405,088 459,571 Backlog and awarded contracts$2,170,714 $1,488,102 Book-to-bill ratio for the three months ended September 301.7x1.5xBook-to-bill ratio for the nine months ended September 301.4x1.5xTotalBacklog$2,317,807 $1,574,902 Awarded contracts747,641 794,669 Backlog and awarded contracts$3,065,448 $2,369,571 Book-to-bill ratio for the three months ended September 301.5x1.3xBook-to-bill ratio for the nine months ended September 301.3x1.4x

The increase in backlog and awarded contracts from September 30, 2024 to September 30, 2025 resulted from an increase in awards in both segments. The modest increase in Engineering & Consulting was primarily driven by new projects within the state & local government client end market, partially offset by education, data centers & technology and mixed-use end markets. The increase in Installation & Maintenance was primarily driven by new projects within the data centers & technology and life sciences & healthcare client end markets, partially offset by the education client end market. 

58

Critical Accounting Estimates 

Our management’s discussion and analysis of our financial condition and results of operations is based on our Condensed Consolidated Financial Statements. The preparation of the Condensed Consolidated Financial Statements requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, the related revenues and expenses and disclosures as of the date of the financial statements. Actual results could differ from those estimates. Our significant accounting policies are discussed in “Item 1. Financial Statements, Note 2—Summary of Significant Accounting Policies” in Notes to Condensed Consolidated Financial Statements and “Note 2—Summary of Significant Accounting Policies” in Notes to Consolidated Financial