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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": "Based on Limbach's current 2025 guidance, total company organic growth is effectively flat once acquisition contributions are stripped out, and organic growth in the ODR segment, Limbach's primary growth engine, appears to have decelerated to the low-single digits.",
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      "text": "ODR's Organic Growth Appears To Slow to A Multi-Year Low: Following the Pioneer Power acquisition announced July 1, 2025, we believe Limbach will need to materially raise its 2025 revenue guidance to avoid multiple compression.",
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      "text": "Limbach's Buying Spree: To support its shift toward an ODR-focused model, which now accounts for approximately 66% of revenue and 75% of gross profit, Limbach pursued a series of acquisitions starting in late 2021.",
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