Legence (LGN) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, May 14, 2026 astatine 12:01 PM CDT 38 min read

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Date

Thursday, May 14, 2026 astatine 10:00 a.m. ET

Call participants

• Chief Executive Officer — Jeffrey Sprau

• Chief Financial Officer — Stephen Butz

• Chief Operating Officer — Stephen Hansen

• Head of Investor Relations — Son Vann

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Full Conference Call Transcript

Son Vann: Thank you, Daniel, and bully morning, everyone. Welcome to Allegion's archetypal 4th 2026 net call. With maine contiguous are Jeffrey Sprau, our Chief Executive Officer; Stephen Butz, Chief Financial Officer; and Steve Hansen, Chief Operating Officer. This morning, we issued a property merchandise that covers our archetypal 4th 2026 fiscal results and posted a descent presumption that accompanies the net release. All materials tin beryllium recovered connected the Investor Relations conception of the company's website, wearelegence.com. Before we begin, I privation to punctual you that comments made during this telephone incorporate definite guardant looking statements and are taxable to risks and uncertainties including those identified successful our Risk Factors contained successful our SEC filings.

Our existent results could disagree materially and we undertake nary obligations to update immoderate specified guardant looking statements. During this call, we volition notation to definite non-GAAP fiscal measures which should not beryllium considered successful isolation from oregon arsenic a substitute for measures prepared successful accordance with mostly accepted accounting principles. Please notation to our quarterly net presumption for reconciliations of these non GAAP measures. To the astir straight comparable GAAP measures. With that, fto maine crook the telephone implicit to Jeffrey.

Jeffrey Sprau: Thank you, Son, and thanks, everyone, for joining contiguous to sermon our archetypal 4th show and existent outlook for Legence. it is lone been 1.5 months since our past net call, and the themes that we spoke astir past are inactive applicable today. These themes see a precise steadfast request situation for ngo captious gathering systems peculiarly successful the information halfway and exertion extremity market. Our beardown task execution, our quality to pull talented labor, and the interaction that M&A tin bring to accelerate our growth. All of these factors contributed to our beardown archetypal 4th results that exceeded quarterly guidance. arsenic good arsenic supply the underpinning to rise our full-year 2026 guidance.

Our archetypal 4th results, Steve volition spell into greater detail. But astatine a precocious level, full revenues much than doubled twelvemonth implicit twelvemonth to conscionable implicit $1 billion. Now to enactment that into perspective, Legence's generated 1.2 cardinal of gross for each of 2022. So we person grown gross astatine an unthinkable gait implicit the past 3 years. Our historical maturation was astir divided evenly betwixt integrated maturation and done acquisitions. This was the lawsuit successful our latest quarterly results wherever our acquisition of Bowers accounted for conscionable nether fractional of the twelvemonth implicit twelvemonth gross gains with integrated maturation fundamentally making up the different half. Excluding the interaction from Bowers, revenues accrued by a robust 57% twelvemonth implicit year.