Legence (LGN) Investor presentation summary

Company overview and market position

• Leading provider of engineering, installation, and maintenance for mission-critical MEP systems in technically demanding buildings, with $3.1B in Q1 2026 LTM revenues.

• Ranked as a top 2 pure-play MEP engineering firm and top 5 HVAC installer in the U.S., serving over 20,000 clients since 2019.

• Over 60% of Nasdaq-100 companies are clients, with a strong presence in high-growth sectors like data centers, technology, life sciences, and healthcare.

• National footprint with 10,000+ employees across 47 states and a focus on high-growth markets.

Business model and services

• Offers end-to-end MEP solutions, including engineering, design, installation, maintenance, and program management.

• Unique integrated design-install-maintain approach provides a single-source relationship, reducing costs and project timelines for clients.

• Recurring revenue streams from maintenance contracts and strong client retention through comprehensive service offerings.

• Differentiated by in-house fabrication, modular construction, and long-standing blue-chip client relationships.

Financial performance and growth

• Achieved 27% CAGR in revenues and 32% CAGR in gross profit from 2022-2025, with Q1 2026 LTM revenues of $3.1B and gross profit of $610M.

• Adjusted EBITDA for Q1 2026 LTM reached $366M, with margins expanding to 11.9%.

• Record quarterly revenue of $1.04B in Q1 2026, up 105% YoY; organic revenue growth (excluding Bowers) was 57% YoY.

• Backlog and awarded contracts at $5.4B as of March 31, 2026, with a book-to-bill ratio of 1.2x.