Legence Q2 Loss Widens On Impairment Charges; Raises FY26 Outlook

(RTTNews) - Legence Corp. (LGN), a provider of energy efficiency, engineering and sustainable infrastructure solutions, on Thursday reported a wider second-quarter loss, despite strong revenue growth, primarily due to goodwill and asset impairment charges.

Net loss attributable to Legence widened to $27.84 million or $0.37 per share from $5.27 million or $0.23 per share a year ago. The results included $21.59 million of goodwill impairment charges and $19.49 million of long-lived asset impairment charges.

Adjusted EBITDA increased 114.1% to $154.6 million from $72.2 million a year ago.

Revenue grew 110.7% to $1.26 billion from $598.9 million. Excluding the impact of the Bowers acquisition, adjusted revenue growth was 60%.

Looking ahead, Legence raised its full-year 2026 revenue outlook to $4.7 billion - $4.8 billion from $4.1 billion - $4.3 billion previously, and increased its adjusted EBITDA outlook to $565 million - $585 million from $470 million - $490 million.

For the third quarter, the company expects revenue of $1.225 billion - $1.275 billion and adjusted EBITDA of $150 million - $160 million.

On the Nasdaq, Legence shares rose nearly 1% in premarket trading after closing at $68.68 on Wednesday.