Company: LGN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0002052568-25-000018
Chunk: 112

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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 projects have comprised a relatively small portion of our revenue. We calculate our book-to-bill ratio by taking our additions to backlog and awarded contracts, excluding additions that were attained through acquisition, for the period, and dividing it by revenue from fixed-price contracts for the same period. A book-to-bill ratio of 1.0 indicates that we are booking backlog and awarded contracts at the same pace as we are recognizing revenue, suggesting stable revenue in future periods. A book-to-bill ratio above 1.0 indicates that backlog and awarded contracts are outpacing revenue, which could indicate an increase in revenue in future periods. Conversely, a book-to-bill ratio below 1.0 indicates that backlog and awarded contracts are trailing revenue, which could indicate a decrease in future revenue. Given that backlog and awarded contracts and book-to-bill ratio are operational measures and that our methodology for calculating backlog and awarded contracts and book-to-bill ratio does not meet the definition of a non-GAAP measure, as that term is defined by the Commission, a quantitative reconciliation for each is not required nor provided. 

The following table presents our backlog and awarded contracts and book-to-bill ratio by reportable segment with book-to-bill ratio calculated during the periods noted (dollars in thousands): 

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