Company: LGN
Filing Date: 2025-09-02
Form Type: S-1/A
Source: 0001193125-25-193346
Chunk: 128

Company: Legence Corp.
Filing Date: 2025-09-02
Form: S-1/A
Chunk 128
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64,111 |     |          | 32.7 | % |     | $                     |  8,251 |     |   | 14.8 | % |     |          | (4.0 | )% |
| Installation & Maintenance segment |     |                             |  56,934 |     |          | 15.5 | % |     |   |  64,563 |     |          | 16.0 | % |     |                       |  7,629 |     |   | 13.4 | % |     |          |  0.5 | %  |
| Consolidated gross profit          |     | $                           | 112,794 |     |          | 21.7 | % |     | $ | 128,674 |     |          | 21.5 | % |     | $                     | 15,880 |     |   | 14.1 | % |     |          | (0.2 | )% |

Engineering & Consulting: The $8.3 million, or 14.8%, increase in gross profit for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 was driven by a combination of organic revenue growth and the impact of acquisitions completed in 2024, slightly offset by lower gross margin. The decrease in gross margin was driven by lower margins in our Engineering & Design and Program & Project Management service lines, in part due to a higher percentage of subcontractor expenses, primarily from education and state & local government clients. Installation & Maintenance: The $7.6 million, or 13.4%, increase in gross profit for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 was primarily driven by strong revenue growth in both the Installation & Fabrication service line and Maintenance & Service business as well as slightly higher margins. Selling, General & Administrative Selling, general and administrative expenses increased $14.4 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024. Selling, general and administrative expenses for the three months ended June 30, 2025 include $3.8 million related to an acquisition completed subsequent to the three months ended June 30, 2024. The remaining increase is primarily attributable to an increase in compensation costs and professional fees. There was a $6.