Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 126

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 126
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 in the depreciation of property and equipment, primarily from the impact of an acquisition completed subsequent to the three months ended June 30, 2024. Interest Expense The increase in interest expense is primarily attributable to additional borrowings. This includes $315.0 million of borrowings under the Term Loan Credit Facility made subsequent to the three months ended June 30, 2024. Income Tax Expense Income tax expense was $5.5 million for the three months ended June 30, 2025, and resulted in an effective tax rate of 330.7%, as compared to income tax expense of $3.7 million for the three months ended June 30, 2024 and an effective tax rate of 37.1%. For the three months ended June 30, 2025 and 2024, the effective tax rate was higher than the U.S. federal statutory rate of 21%, primarily due to the loss before income tax from pass-through business not subject to income taxes at the Company level. 88

Results of Operations For the Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024 A summary of our consolidated results of operations, selected data as a percentage of revenues for the periods indicated, as well as the dollar and percentage change from the prior year period is presented as follows (dollars in thousands):

|                                                     |     | Six Months Ended 
 June 30,         |    2024 |   |     |   |      2025 |   |     | Year over Year 
 Change         |         |   |     |   |       |    |
|:----------------------------------------------------|:----|:-----------------|--------:|:--|:----|:--|----------:|:--|:----|:---------------|--------:|:--|:----|:--|------:|:---|
|                                                     |     | $                |         |   |     | $ |           |   |     | $              |         |   |     | % |       |    |
| Revenue                                             |     | $                | 989,583 |   |     | $ | 1,104,843 |   |     | $              | 115,260 |   |     |   |  11.6 | %  |
| Cost of revenue                                     |     |                  | 790,303 |   |     |   |   864,465 |   |     |                |