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  "documentTitle": "Limbach Holdings, Inc. (LMB)",
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  "presentationDate": "2025-07-22 00:00:00",
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      "text": "Q1'25 marked the lowest gross margin quarter for Limbach's ODR segment since Q1'23. The margin decline raises concerns over the sustainability of Limbach's margin profile. We see risk for further margin erosion at Limbach considering Pioneer Power's reported 8% EBITDA margin is well below Limbach's pre-acquisition margin.",
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      "text": "Q1'25 marked the lowest gross margin quarter for Limbach's ODR segment since Q1'23. The margin decline raises concerns over the sustainability of Limbach's margin profile.",
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