Legence Corp.
Business
Legence Corp. is a leading provider of engineering, installation and maintenance services for mission-critical mechanical, electrical and plumbing (MEP) systems in buildings. The company offers integrated design, fabrication, installation and ongoing maintenance of complex HVAC, process piping and control systems for new construction and existing building retrofits. Legence operates through two segments—Engineering & Consulting and Installation & Maintenance—and serves technology, life sciences, healthcare, education and other sectors across 46 U.S. states and the District of Columbia.
Summary from 10-K filed 2026-03-30
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Revenue | 2,550 | 2,099 | 1,615 | |
| Cost of revenue | 2,015 | 1,668 | 1,300 | |
| Gross profit | 536 | 431 | 315 | |
| Selling, general and administrative | 343 | 243 | 186 | |
| Depreciation and amortization | 100 | 97 | 80 | |
| Acquisition-related costs | 6 | 6 | 4 | |
| Changes in fair value of contingent consideration liabilities (including $13,424 for the year ended December 31, 2023 from related parties) | 0 | 0 | 31 | |
| Gain on sale of property and equipment | −326,000 | 0 | 0 | |
| Goodwill impairment | 25 | 18 | 5 | |
| Long-lived asset impairment | 2 | 0 | 0 | |
| Equity in earnings of joint venture | −1 | −3 | −1 | |
| Income from operations | 62 | 70 | 10 | |
| Interest expense, net of capitalized interest (including $13,340, $13,316, and $12,396 for years ended December 31, 2025, 2024, and 2023, respectively, from related parties) | 102 | 92 | 68 | |
| Interest income | −4 | −5 | −4 | |
| Loss on debt extinguishment | 7 | 0 | 0 | |
| Credit agreement amendment fees | 6 | 8 | 0 | |
| Other expense (income) , net | 6 | −473,000 | 257,000 | |
| Total other expense, net | 117 | 93 | 64 | |
| Loss before income tax | −55 | −23 | −54 | |
| Income tax expense (benefit) | 22 | 5 | −8 | |
| Net loss | −77 | −28 | −46 | |
| Net (loss) income attributable to noncontrolling interests | −18 | 912,000 | 0 | |
| Net loss attributable to Legence | −60 | −29 | −46 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2025 2025-08-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 230 | — | 81 | — | — | |
| Accounts receivable, net | 584 | — | 449 | — | — | |
| Contract assets, net | 260 | — | 188 | — | — | |
| Prepaid expenses and other current assets | 36 | — | 39 | — | — | |
| Total current assets | 1,110 | — | 756 | — | — | |
| Property and equipment, net | 92 | — | 73 | — | — | |
| Operating lease right-of-use assets (including $20,025 and $23,375 as of December 31, 2025 and 2024, respectively, from related parties) | 117 | — | 91 | — | — | |
| Goodwill | 764 | — | 781 | 676 | — | |
| Intangible assets, net | 551 | — | 624 | — | — | |
| Other assets | 44 | — | 26 | — | — | |
| Total assets | 2,679 | — | 2,353 | — | — | |
| Accounts payable | 246 | — | 127 | — | — | |
| Accrued compensation and benefits | 68 | — | 55 | — | — | |
| Accrued and other current liabilities | 16 | — | 28 | — | — | |
| Contract liabilities | 339 | — | 164 | 165 | — | |
| Current portion of operating lease liabilities (including $3,920 and $3,654 as of December 31, 2025 and 2024, respectively, from related parties) | 21 | — | 14 | — | — | |
| Current portion of long-term debt | 17 | — | 23 | — | — | |
| Total current liabilities | 708 | — | 411 | — | — | |
| Long-term debt, net of current portion (including $84,735 and $211,039 as of December 31, 2025 and 2024, respectively, from related parties) | 812 | — | 1,586 | — | — | |
| Operating lease liabilities, net of current portion (including $17,282 and $20,960 as of December 31, 2025 and 2024, respectively, from related parties) | 104 | — | 81 | — | — | |
| Tax receivable agreement liability - related party | 207 | 147 | 0 | — | — | |
| Deferred tax liabilities, net | 47 | — | 35 | — | — | |
| Other long-term liabilities | 12 | — | 36 | — | — | |
| Total liabilities | 1,891 | — | 2,149 | — | — | |
| Commitments and contingencies (Note 21) | — | — | — | — | — | |
| Member's equity | — | — | 444 | — | — | |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025 | 0 | — | — | — | — | |
| Additional paid-in capital | 702 | — | — | — | — | |
| Accumulated deficit | −310 | — | −250 | — | — | |
| Accumulated other comprehensive (loss) income | −698,000 | — | 9 | — | — | |
| Total Legence stockholders' equity / Member's equity | 392 | — | — | — | — | |
| Noncontrolling interests | 397 | — | — | — | — | |
| Total stockholders' equity / Member's equity | 789 | — | — | — | — | |
| Total Legence stockholders' equity / Member's equity | — | — | 203 | — | — | |
| Noncontrolling interests | — | — | 912,000 | — | — | |
| Total stockholders' equity / Member's equity | — | — | 204 | 523 | 541 | |
| Total liabilities and stockholders' equity / Member's equity | 2,679 | — | 2,353 | — | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Amortization of intangible assets | 82 | 81 | 70 | |
| Depreciation of property and equipment | 32 | 30 | 23 | |
| Amortization of debt issuance costs and discounts | 3 | 5 | 5 | |
| Stock-based compensation | 68 | 5 | 10 | |
| Deferred taxes | 15 | −14 | −13 | |
| Tax receivable agreement liability remeasurement | 3 | 0 | 0 | |
| Return on investment in joint venture | 2 | 1 | 1 | |
| Operating lease right-of-use asset lease expense | 18 | 13 | 9 | |
| Other | 1 | 4 | 1 | |
| Accounts receivable, net | −130 | 18 | −81 | |
| Contract assets | −71 | −51 | −24 | |
| Prepaid expenses and other current assets | 3 | 4 | 3 | |
| Accounts payable | 118 | 11 | −5 | |
| Accrued compensation and benefits | 12 | −3 | 7 | |
| Accrued and other current liabilities | −14 | −37 | 1 | |
| Contract liabilities | 172 | −15 | 46 | |
| Operating lease liabilities, current and long-term | −15 | −11 | −9 | |
| Other long-term assets and liabilities | 2 | −909,000 | 78,000 | |
| Cash provided by operating activities | 257 | 29 | 34 | |
| Purchases of property and equipment | −38 | −19 | −17 | |
| Consideration paid for acquisitions, net of cash acquired | −16 | −225 | −120 | |
| Proceeds from sale of property and equipment | 390,000 | 269,000 | 353,000 | |
| Return of investment in joint venture | 0 | 0 | 3 | |
| Cash used in investing activities | −54 | −244 | −134 | |
| Term loan borrowings (including $2,968, $103,500, and $15,000 for the years ended December 31, 2025, 2024, and 2023, respectively, from related parties) | 60 | 565 | 155 | |
| Term loan payments (including $74,797 in 2025 to related parties) | −852 | −14 | −10 | |
| Notes payable payments | −8 | −6 | −5 | |
| Finance lease payments | −4 | −2 | −2 | |
| Cash distributions to Legence Parent | 0 | −302 | −2 | |
| Cash contributions from Legence Parent | 0 | 400,000 | 550,000 | |
| Proceeds from IPO, net of underwriting discounts and commissions | 780 | 0 | 0 | |
| Debt issuance costs | −2 | −1 | −3 | |
| Payments for deferred offering costs | −28 | −196,000 | 0 | |
| Payments of contingent consideration (including ($20,663) and $(5,520) for the years ended December 31, 2024 and 2023, respectively, from related parties) | 0 | −33 | −6 | |
| Cash (used in) provided by financing activities | −54 | 207 | 128 | |
| Increase (decrease) in cash and cash equivalents | 149 | −8 | 28 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Legence Corp.'s CIK number?
Legence Corp.'s SEC CIK number is 0002052568 (2052568). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Legence Corp.'s SEC filings?
All of Legence Corp.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Legence Corp. last report earnings?
Legence Corp. (LGN) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-222792). This is Legence Corp.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Legence Corp.'s most recent earnings 8-K?
Legence Corp.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001193125-26-222792. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Legence Corp.'s latest earnings 8-K →
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