Limbach Holdings (LMB) FY2025 10-K Risk Factors: 36 New, 42 Dropped

What the changes say

Limbach Holdings expanded its risk disclosures, highlighting threats from government shutdowns, cost overruns, safety incidents, and labor workforce management.

What changed since the prior 10-K

New

NewRisks Related to Our Business and Industry
A U.S. government shutdown or delays in federal appropriations could adversely affect our business and results of operations
U.S. government shutdowns, appropriations delays, or funding uncertainty could suspend our federal, state, and local contracts or delay project starts.
NewRisks Related to Our Business and Industry
Because we bear the risk of cost overruns on many of our contracts, we may experience reduced profitability or incur losses if actual costs exceed our estimates
Inflation, tariffs, and inaccurate cost estimates can cause severe cost overruns and margin compression on our fixed-price or guaranteed contracts.
NewRisks Related to Our Business and Industry
or other third parties to perform as expected; or delays in identifying and addressing execution issues. Inflationary cost increases or tariffs that are not recoverable through contractual price adjustments or change orders could further compress margins, particularly on longer-duration projects
Failure to meet completion schedules or performance standards can trigger liquidated damages, liability, and reputational harm.
NewRisks Related to Our Business and Industry
Our failure to obtain new customer agreements or renew existing agreements at current or more favorable terms could adversely affect our business, financial condition and results of operations
Inability to secure new customer agreements or renew existing ones on favorable terms could reduce backlog and workforce utilization.
NewRisks Related to Our Business and Industry
The timing of the award, commencement and performance of contracts may cause variability in our operating results and cash flows
Unpredictable timing of contract awards and negotiations can cause periodic fluctuations in our operating results and cash flows.
NewRisks Related to Our Business and Industry
We may be unable to recover additional claimed costs on projects, which could adversely affect our profitability and liquidity
Lengthy dispute resolution or lower-than-expected recoveries on claimed project costs could cause volatility and unexpected losses.
NewRisks Related to Our Business and Industry
workforces or participation in multiemployer pension plans (“MEPP”) could increase our exposure to labor-related risks or pension obligations
Acquisition financing and MEPP pension obligations could increase our financial leverage, interest expenses, and labor-related risks.
NewRisks Related to Our Business and Industry
The realization of anticipated benefits from acquisitions depends on our ability to successfully integrate acquired businesses into our existing operations. Integration efforts involve significant operational, financial, and managerial challenges and require substantial management attention and resources
Integration challenges from acquisitions could divert management focus, increase costs, or result in goodwill impairment charges.
NewRisks Related to Our Business and Industry
Delays in, disputes over, or defaults on customer payments could adversely affect our liquidity, results of operations, and financial condition
Delayed customer payments, billing disputes, or customer defaults force us to fund project costs through working capital.
NewRisks Related to Our Business and Industry
Unsatisfactory safety performance could subject us to penalties and/or litigation, restrict our ability to pursue certain projects, increase operating costs, and adversely affect our employees’ morale and retention
Accidents or hazardous exposures at customer sites can result in safety penalties, litigation, and increased insurance expenses.
NewRisks Related to Our Business and Industry
customers using metrics such as Experience Modification Rates (“EMRs”). If the EMR for one or more of our operating units exceeds customer-established thresholds, we may be restricted from bidding on or performing certain projects
Exceeding customer EMR safety thresholds could restrict us from bidding on or performing certain projects.
NewRisks Related to Our Business and Industry
Our inability to effectively plan for and utilize our workforce could adversely affect our customer relationships, profitability and operating results
Underutilizing our workforce increases overhead costs, while overutilizing employees harms safety, morale, and project quality.
NewRisks Related to Our Business and Industry
Our union and open shop operations subject us to labor relations risks, including potential disputes, work stoppages, and challenges to our corporate structure, which could adversely affect our business and results of operations
NewRisks Related to Our Business and Industry
Our failure to effectively execute our business strategy, including our increased focus on owner-direct relationships, could adversely affect our business and results of operations
NewRisks Related to Our Business and Industry
Our success depends on the continued contributions of key members of our management team, and the loss of one or more of these individuals could adversely affect our business and results of operations
NewRisks Related to Our Business and Industry
Our dependence on subcontractors and suppliers could increase costs, disrupt project execution, and adversely affect our profitability and cash flows
NewRisks Related to Our Business and Industry
Increases in the cost or reduced availability of materials, equipment, commodities, or energy due to inflation, tariffs, trade policies, or geopolitical events could adversely affect our profitability and operating results
NewRisks Related to Our Business and Industry
Our inability to identify, contract with, or properly utilize qualified disadvantaged business enterprise (“DBE”) subcontractors could adversely affect our business and results of operations
NewRisks Related to Our Business and Industry
Our ability to obtain sufficient surety bonding is critical to our business, and any reduction in bonding capacity or availability could adversely affect our operations and results of operations
NewRisks Related to Our Business and Industry
Our insurance coverage may be insufficient to cover all potential liabilities, and adverse conditions in the insurance markets could increase our costs or limit our ability to obtain required coverage
NewRisks Related to Our Business and Industry
Our use of the cost-to-cost method of accounting requires significant estimates and judgments and may result in reductions or reversals of previously recognized revenue or profit
NewRisks Related to Our Business and Industry
adjustments may result in the reversal of profits recognized in prior periods or the recognition of contract losses in the period identified
NewRisks Related to Our Business and Industry
We carry significant amounts of goodwill and identifiable intangible assets on our consolidated balance sheets, primarily as a result of acquisitions. These assets are subject to periodic impairment assessments and may be written down if their carrying values are determined not to be recoverable
NewRisks Related to Our Business and Industry
Adverse economic conditions, geopolitical instability, or volatility in financial markets could reduce demand for our services and adversely affect our business and results of operations
NewRisks Related to Our Business and Industry
Our indebtedness, including variable-rate borrowings and related covenant restrictions, could increase our interest expense, limit our liquidity and financial flexibility, and adversely affect our business and results of operations
NewRisks Related to Our Business and Industry
indebtedness, enforce remedies against collateral, or trigger cross-defaults under other debt or surety arrangements. Any such actions could materially and adversely affect our liquidity, operations, and financial condition
NewRisks Related to Our Business and Industry
Increases in healthcare costs or changes in healthcare laws could increase our operating expenses and adversely affect our results of operations
NewRisks Related to Our Business and Industry
Climate change, including physical risks and the transition to lower-emission building practices, could increase our costs, disrupt operations, and adversely affect our financial results
NewRisks Related to Our Business and Industry
Changing climate-related regulations, disclosure requirements, and environmental, social and governance expectations may increase compliance costs, create regulatory complexity, or adversely affect customer and investor perceptions
NewRisks Related to Our Business and Industry
Information technology system failures, cybersecurity incidents, or data privacy breaches could disrupt our operations and adversely affect our business, results of operations, and reputation
NewRisks Related to Our Business and Industry
The use of artificial intelligence technologies by us or by our third-party vendors may create operational, legal, regulatory, or reputational risks
NewRisks Related to Our Business and Industry
material failure of any of our subsidiaries or us to comply with any of them, could increase our costs and have other negative impacts on our business
NewRisks Related to Our Business and Industry
As federal government contractors, our subsidiaries are subject to a number of rules and regulations, and our contracts with government entities are subject to audit. Noncompliance with applicable requirements could limit a subsidiary’s ability to obtain or perform government contracts
NewRisks Related to Our Business and Industry
Changes in environmental, safety, and health regulations or licensing requirements could increase our compliance costs or limit our ability to perform certain work
NewRisks Related to Ownership of Our Common Stock
Unfavorable analyst coverage or a reduction in analyst coverage could adversely affect the market price and liquidity of our common stock
NewRisks Related to Ownership of Our Common Stock
Force majeure events, including natural disasters, malicious acts, or other extraordinary events, could disrupt our operations and adversely affect our business and results of operations

Dropped

DroppedRisks Related to Our Business and Industry
Since we bear the risk of cost overruns in most of our contracts, we may experience reduced profits or, in some cases, losses, if costs increase above estimates
DroppedRisks Related to Our Business and Industry
Our failure to obtain new agreements and renew existing agreements could have a material adverse effect on our business, financial condition and results of operations
DroppedRisks Related to Our Business and Industry
Timing of the award and performance of new contracts could have an adverse effect on our operating results and cash flow
DroppedRisks Related to Our Business and Industry
Our failure to adequately recover on claims brought by us against contractors, project owners or other project participants for additional contract costs could have a negative impact on our results of operations and financial condition, liquidity and on our credit facilities
DroppedRisks Related to Our Business and Industry
Our failure to successfully integrate acquisitions could adversely affect our financial results
Cost overruns and estimate errors in contracts.
DroppedRisks Related to Our Business and Industry
If we experience delays and/or defaults in customer payments, we could be unable to recover all expenditures
Failure to obtain or renew customer agreements.
DroppedRisks Related to Our Business and Industry
Unsatisfactory safety performance may subject us to penalties, affect customer relationships, result in higher operating costs, negatively impact employee morale and result in higher employee turnover
Unpredictable timing of contract awards.
DroppedRisks Related to Our Business and Industry
Our inability to properly utilize our workforce could have a negative impact on our profitability
DroppedRisks Related to Our Business and Industry
Our business has union and open shop operations, subjecting the business to risk for labor disputes
Failure to recover project claims from participants.
DroppedRisks Related to Our Business and Industry
Strikes or work stoppages could have a negative impact on our operations and results
DroppedRisks Related to Our Business and Industry
Our business may be negatively affected by our failure to properly execute our business strategy
DroppedRisks Related to Our Business and Industry
Our success depends upon the continuing contributions of certain key personnel, each of whom would be difficult to replace. If we lose the benefit of the experience, efforts and abilities of one or more of these individuals, our operating results could suffer
Failure to successfully integrate acquisitions.
DroppedRisks Related to Our Business and Industry
Our dependence on subcontractors and suppliers of equipment and materials could increase our costs and impair our ability to complete contracts on a timely basis or at all, which would adversely affect our profits and cash flow
DroppedRisks Related to Our Business and Industry
An increase in the cost or the availability of materials and commodities could affect our profitability
Customer payment delays and project defaults.
DroppedRisks Related to Our Business and Industry
Changes in energy prices may increase our costs, and we may not be able to pass along increased energy costs to our customers
Unsatisfactory safety performance and site risks.
DroppedRisks Related to Our Business and Industry
We may be unable to identify and contract with qualified DBE contractors to perform as subcontractors
Improper workforce utilization affecting profitability.
DroppedRisks Related to Our Business and Industry
projects depends upon the various risks discussed elsewhere in this section and on whether our joint venture partners satisfy their contractual obligations
Union and open shop labor dispute risks.
DroppedRisks Related to Our Business and Industry
A significant portion of our business depends on our ability to provide surety bonds. Any difficulties in the financial and surety markets may cause a material adverse effect on our bonding capacity and availability
Strikes or collective bargaining work stoppages.
DroppedRisks Related to Our Business and Industry
Our insurance policies against many potential liabilities require high deductibles. Additionally, difficulties in the insurance markets may adversely affect our ability to obtain necessary insurance
Failure to execute business strategy and ODR growth.
DroppedRisks Related to Our Business and Industry
Our use of the cost-to-cost method of accounting could result in a reduction or reversal of previously recorded revenue or profits
Loss of key management personnel.
DroppedRisks Related to Our Business and Industry
Earnings for future periods may be impacted by impairment charges for goodwill and intangible assets
DroppedRisks Related to Our Business and Industry
Recent and potential changes in U.S. trade policies, including changes to existing trade agreements and any resulting changes in international trade relations, and retaliatory responses from other countries may significantly increase the costs or limit supplies of raw materials and products used in our operations
DroppedRisks Related to Our Business and Industry
Rising inflation and/or interest rates, or deterioration of the United States economy could have a material adverse effect on our business, financial condition and results of operations
DroppedRisks Related to Our Business and Industry
Continuing worldwide political and economic uncertainties may adversely affect our revenue and profitability
DroppedRisks Related to Our Business and Industry
Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly
DroppedRisks Related to Our Business and Industry
Failure to remain in compliance with covenants under our debt and credit agreements or service our indebtedness could adversely impact our business
DroppedRisks Related to Our Business and Industry
We may not be able to generate sufficient cash flow to meet all of our existing or potential future debt service obligations
DroppedRisks Related to Our Business and Industry
Increases in healthcare costs could adversely affect our financial results
DroppedRisks Related to Our Business and Industry
Future climate change could adversely affect us
DroppedRisks Related to Our Business and Industry
We may be affected by market or regulatory responses to climate change, including potential policy shifts under the current presidential administration
DroppedRisks Related to Our Business and Industry
Additionally, ongoing market and investor pressure for greater sustainability and climate-related disclosures may persist regardless of federal regulatory changes
DroppedRisks Related to Our Business and Industry
Increasing scrutiny and changing expectations from investors and customers with respect to our environmental, social and governance (“ESG”) practices may impose additional costs on us or expose us to reputational or other risks
DroppedRisks Related to Our Business and Industry
We are susceptible to adverse weather conditions and the increasing frequency and severity of extreme weather events, which may harm our business and financial results
DroppedRisks Related to Our Business and Industry
Information technology system failures, network disruptions or cybersecurity breaches could adversely affect our business
DroppedRisks Related to Our Business and Industry
Artificial intelligence is an emerging area of technology that has the potential to impact various aspects of our business operations
DroppedRisks Related to Our Business and Industry
Changes to our outsourced software or infrastructure vendors as well as any sudden loss, breach of security, disruption or unexpected data or vendor loss associated with our information technology systems could have a material adverse effect on our business
DroppedRisks Related to Our Business and Industry
These disruptions could increase our operational expenses as well as impact the management of our business operations, which could have a material adverse effect on our financial position, results of operations, cash flows and liquidity
DroppedRisks Related to Our Business and Industry
Past and future environmental, safety and health regulations could impose significant additional costs on us that reduce our profits
DroppedRisks Related to Ownership of Our Common Stock
If equity research analysts publish unfavorable commentary or downgrade our common stock, the price and trading volume of our common stock could decline
DroppedRisks Related to Ownership of Our Common Stock
discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer's own slate of directors or otherwise attempting to obtain control of our company
DroppedRisks Related to Ownership of Our Common Stock
Force majeure events, including natural disasters and terrorist actions, could negatively impact our business, which may affect our financial position, results of operations or cash flows
DroppedRisks Related to Ownership of Our Common Stock
Deliberate, malicious acts, including terrorism and sabotage, could damage our facilities, disrupt our operations or injure our employees, contractors, customers or the public and result in liability to us

Reworded

100% rewrittenRisks Related to Our Business and Industry
Failure to perform our services in accordance with professional standards or contractual requirements could expose us to significant liability and adversely affect our business and results of operations
Clarified that professional liability applies to planning, design, construction, operation, and maintenance of complex facilities with specific insurance limits and deductibles.
Was: Failure to provide our services in accordance with professional standards or contractual requirements could expose us to significant monetary damages
99% rewrittenRisks Related to Our Business and Industry
If we are unable to attract and retain qualified personnel, subcontractors, joint venture partners, and suppliers, our ability to operate efficiently and profitably could be adversely affected
Added subcontractors, joint venture partners, and suppliers alongside personnel, highlighting intense competition for skilled labor in specific markets.
Was: If we are unable to attract and retain qualified managers, employees, joint venture partners, subcontractors and suppliers, we will be unable to operate efficiently, which could reduce our profitability
99% rewrittenRisks Related to Ownership of Our Common Stock
Actions by activist investors could disrupt our operations and adversely affect our business and strategic execution
Expanded activist investor risks to explicitly include potential impacts on capital allocation policies, board composition, and increased legal and advisory costs.
Was: Actions of activist investors could disrupt our business
98% rewrittenRisks Related to Our Business and Industry
Acquisitions, divestitures, and other strategic transactions may fail to achieve anticipated financial or strategic benefits and could disrupt our business, and adversely affect our results of operations
Broadened strategic transactions language to include divestitures and specific operational, financial, legal, and regulatory integration risks.
Was: Acquisitions, divestitures, and other strategic transactions could fail to achieve financial or strategic objectives, disrupt our ongoing business, and adversely impact our results of operations
87% rewrittenRisks Related to Our Business and Industry
Our participation in construction joint ventures exposes us to liability and/or harm to our reputation for failures of our partners
Added explicit disclosure that we and our joint venture partners are generally jointly and severally liable for all obligations.
82% rewrittenRisks Related to Our Business and Industry
Intense competition in our industry could reduce our market share and profitability
Specified competition from customer in-house service organizations and vertical consolidation within the MEPC systems services industry.
Was: Intense competition in our industry could reduce our market share and profit
79% rewrittenRisks Related to Our Business and Industry
Our contract backlog is subject to adjustments, delays and cancellations and could be an uncertain indicator of our future earnings
Added pricing adjustments and schedule delays to the list of modifications affecting contract backlog and revenue recognition.
Was: Our contract backlog is subject to unexpected adjustments and cancellations and could be an uncertain indicator of our future earnings
45% rewrittenRisks Related to Ownership of Our Common Stock
Failure or circumvention of our disclosure controls and procedures or internal controls over financial reporting could adversely affect our financial reporting and business
Expanded internal controls risk to specify potential consequences like financial statement restatements, filing delays, and regulatory enforcement actions.
Was: Failure or circumvention of our disclosure controls and procedures or internal controls over financial reporting could seriously harm our financial condition, results of operations, and business
39% rewrittenRisks Related to Ownership of Our Common Stock
Provisions in our organizational documents and Delaware or certain other state laws could delay or prevent a change in control of our company, which could adversely affect the price of our common stock
23% rewrittenRisks Related to Ownership of Our Common Stock
We have not declared any dividends on our common stock to date and have no expectation of doing so in the foreseeable future
22% rewrittenRisks Related to Our Business and Industry
Our failure to comply with immigration laws and labor regulations could affect our business
21% rewrittenRisks Related to Ownership of Our Common Stock
Future sales of our common stock may cause our common stock price to decline

All 64 risk factors

Headings as the filing states them, in filing order.

Risks Related to Our Business and Industry

01Intense competition in our industry could reduce our market share and profitability82% rewritten
02If we do not effectively manage the size and cost of our operations, our infrastructure may become strained or overly-burdened, and we may be unable to increase revenue growth
03Failure to maintain high quality building systems solutions in our ODR segment could damage our reputation with customers and negatively impact our results
04Our contract backlog is subject to adjustments, delays and cancellations and could be an uncertain indicator of our future earnings79% rewritten
05A U.S. government shutdown or delays in federal appropriations could adversely affect our business and results of operationsNew
06Because we bear the risk of cost overruns on many of our contracts, we may experience reduced profitability or incur losses if actual costs exceed our estimatesNew
07or other third parties to perform as expected; or delays in identifying and addressing execution issues. Inflationary cost increases or tariffs that are not recoverable through contractual price adjustments or change orders could further compress margins, particularly on longer-duration projectsNew
08Our failure to obtain new customer agreements or renew existing agreements at current or more favorable terms could adversely affect our business, financial condition and results of operationsNew
09The timing of the award, commencement and performance of contracts may cause variability in our operating results and cash flowsNew
10We may incur significant costs in performing our work in excess of the original project scope and contract amount without having an approved change order
11We may be unable to recover additional claimed costs on projects, which could adversely affect our profitability and liquidityNew
12We place significant decision-making powers with our business units’ management, which presents certain risks that may cause the operating results of individual branches to vary
13Acquisitions, divestitures, and other strategic transactions may fail to achieve anticipated financial or strategic benefits and could disrupt our business, and adversely affect our results of operations98% rewritten
14workforces or participation in multiemployer pension plans (“MEPP”) could increase our exposure to labor-related risks or pension obligationsNew
15The realization of anticipated benefits from acquisitions depends on our ability to successfully integrate acquired businesses into our existing operations. Integration efforts involve significant operational, financial, and managerial challenges and require substantial management attention and resourcesNew
16Design/Build and Design/Assist contracts subject us to the risks of design errors and omissions
17Delays in, disputes over, or defaults on customer payments could adversely affect our liquidity, results of operations, and financial conditionNew
18Unsatisfactory safety performance could subject us to penalties and/or litigation, restrict our ability to pursue certain projects, increase operating costs, and adversely affect our employees’ morale and retentionNew
19customers using metrics such as Experience Modification Rates (“EMRs”). If the EMR for one or more of our operating units exceeds customer-established thresholds, we may be restricted from bidding on or performing certain projectsNew
20Our inability to effectively plan for and utilize our workforce could adversely affect our customer relationships, profitability and operating resultsNew
21Our union and open shop operations subject us to labor relations risks, including potential disputes, work stoppages, and challenges to our corporate structure, which could adversely affect our business and results of operationsNew
22Our failure to effectively execute our business strategy, including our increased focus on owner-direct relationships, could adversely affect our business and results of operationsNew
23Our success depends on the continued contributions of key members of our management team, and the loss of one or more of these individuals could adversely affect our business and results of operationsNew
24If we are unable to attract and retain qualified personnel, subcontractors, joint venture partners, and suppliers, our ability to operate efficiently and profitably could be adversely affected99% rewritten
25Misconduct by our employees, subcontractors or partners, or our overall failure to comply with laws or regulations could harm our reputation, damage our relationships with customers, reduce our revenue and profits, and subject us to criminal and civil enforcement actions
26Failure to perform our services in accordance with professional standards or contractual requirements could expose us to significant liability and adversely affect our business and results of operations100% rewritten
27Our dependence on subcontractors and suppliers could increase costs, disrupt project execution, and adversely affect our profitability and cash flowsNew
28Increases in the cost or reduced availability of materials, equipment, commodities, or energy due to inflation, tariffs, trade policies, or geopolitical events could adversely affect our profitability and operating resultsNew
29Our inability to identify, contract with, or properly utilize qualified disadvantaged business enterprise (“DBE”) subcontractors could adversely affect our business and results of operationsNew
30Our participation in construction joint ventures exposes us to liability and/or harm to our reputation for failures of our partners87% rewritten
31Our ability to obtain sufficient surety bonding is critical to our business, and any reduction in bonding capacity or availability could adversely affect our operations and results of operationsNew
32Our insurance coverage may be insufficient to cover all potential liabilities, and adverse conditions in the insurance markets could increase our costs or limit our ability to obtain required coverageNew
33Our use of the cost-to-cost method of accounting requires significant estimates and judgments and may result in reductions or reversals of previously recognized revenue or profitNew
34adjustments may result in the reversal of profits recognized in prior periods or the recognition of contract losses in the period identifiedNew
35We carry significant amounts of goodwill and identifiable intangible assets on our consolidated balance sheets, primarily as a result of acquisitions. These assets are subject to periodic impairment assessments and may be written down if their carrying values are determined not to be recoverableNew
36Contractual warranty obligations could adversely affect our profits and cash flow
37Adverse economic conditions, geopolitical instability, or volatility in financial markets could reduce demand for our services and adversely affect our business and results of operationsNew
38Our indebtedness, including variable-rate borrowings and related covenant restrictions, could increase our interest expense, limit our liquidity and financial flexibility, and adversely affect our business and results of operationsNew
39indebtedness, enforce remedies against collateral, or trigger cross-defaults under other debt or surety arrangements. Any such actions could materially and adversely affect our liquidity, operations, and financial conditionNew
40Our obligation to contribute to multiemployer pension plans could give rise to significant expenses and liabilities in the future
41Increases in healthcare costs or changes in healthcare laws could increase our operating expenses and adversely affect our results of operationsNew
42Our business may be affected by the work environment in which we operate
43A pandemic, epidemic or outbreak of an infectious disease in the markets in which we operate or that otherwise impacts our facilities or suppliers could adversely impact our business
44Climate change, including physical risks and the transition to lower-emission building practices, could increase our costs, disrupt operations, and adversely affect our financial resultsNew
45Changing climate-related regulations, disclosure requirements, and environmental, social and governance expectations may increase compliance costs, create regulatory complexity, or adversely affect customer and investor perceptionsNew
46Information technology system failures, cybersecurity incidents, or data privacy breaches could disrupt our operations and adversely affect our business, results of operations, and reputationNew
47The use of artificial intelligence technologies by us or by our third-party vendors may create operational, legal, regulatory, or reputational risksNew
48material failure of any of our subsidiaries or us to comply with any of them, could increase our costs and have other negative impacts on our businessNew
49As federal government contractors, our subsidiaries are subject to a number of rules and regulations, and our contracts with government entities are subject to audit. Noncompliance with applicable requirements could limit a subsidiary’s ability to obtain or perform government contractsNew
50Changes in environmental, safety, and health regulations or licensing requirements could increase our compliance costs or limit our ability to perform certain workNew
51Our failure to comply with immigration laws and labor regulations could affect our business22% rewritten
52Tax matters, including changes in corporate tax laws and disagreements with taxing authorities, could impact our results of operations and financial condition

Risks Related to Ownership of Our Common Stock

53The price of our common stock may be volatile
54Future sales of our common stock may cause our common stock price to decline21% rewritten
55Future equity issuances could result in dilution, which could cause our common stock price to decline
56Unfavorable analyst coverage or a reduction in analyst coverage could adversely affect the market price and liquidity of our common stockNew
57We have not declared any dividends on our common stock to date and have no expectation of doing so in the foreseeable future23% rewritten
58Provisions in our organizational documents and Delaware or certain other state laws could delay or prevent a change in control of our company, which could adversely affect the price of our common stock39% rewritten
59Failure or circumvention of our disclosure controls and procedures or internal controls over financial reporting could adversely affect our financial reporting and business45% rewritten
60Actual and potential claims, lawsuits and proceedings could ultimately reduce our profitability and liquidity and weaken our financial condition
61Force majeure events, including natural disasters, malicious acts, or other extraordinary events, could disrupt our operations and adversely affect our business and results of operationsNew
62A change in tax laws or regulations of any federal or state jurisdiction in which we operate could increase our tax burden and otherwise adversely affect our financial position, results of operations, cash flows and liquidity
63Changes in accounting rules and regulations could adversely affect our financial results
64Actions by activist investors could disrupt our operations and adversely affect our business and strategic execution99% rewritten

Other Limbach Holdings 10-Ks

FY2024 10-K risk factors
70 risks
Dependence on the ODR segment growth strategy drives overall business success. Management of labor costs, union relations, and subcontractor networks is critical. Exposure to fixed-price contract risks and material cost inflation heavily impacts profitability.
Filed Mar 10, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.