Company: LGN
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001193125-25-186788
Chunk: 133

Company: Legence Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 133
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 federal statutory rate of 21%. The effective tax rate in the year ended
December 31, 2024 was primarily due to a significant portion of the pre-tax loss being generated by pass-through entities that are not subject to income taxes at the Company level and unfavorable
permanent adjustments including goodwill impairment, and was partially offset by a reduction in the Company’s deferred state tax rate. The effective tax rate in the year ended December 31, 2023 was primarily due to a significant portion
of the pre-tax loss being generated by pass-through entities that are not subject to income taxes at the Company level and to taxable income in the tax paying C corporations.

95

For the Year Ended December 31, 2023 Compared to Year Ended December 31, 2022 A summary of our consolidated results of operations, selected data as a percentage of revenues for the years indicated, as well as the dollar and percentage rates of change from the prior year is presented as follows (dollars in thousands):

|                                                                   |     | Year Ended December 31, |      2022 |   |     |   |      2023 |   |     | Year over Year 
 Change         |         |   |     |   |      |   |
|:------------------------------------------------------------------|:----|:------------------------|----------:|:--|:----|:--|----------:|:--|:----|:---------------|--------:|:--|:----|:--|-----:|:--|
|                                                                   |     | $                       |           |   |     | $ |           |   |     | $              |         |   |     | % |      |   |
| Revenue                                                           |     | $                       | 1,246,501 |   |     | $ | 1,615,062 |   |     | $              | 368,561 |   |     |   | 29.6 | % |
| Cost of revenue                                                   |     |                         | 1,012,795 |   |     |   | 1,299,916 |   |     |                | 287,121 |   |     |   | 28.3 | % |
| Gross profit                                                      |     |                         |   233,706 |   |     |   |   315,146 |   |     |                |  81,440 |   |     |   | 34.8 | % |
| Selling, general and administrative                               |