Limbach Holdings, Inc. (NASDAQ:LMB) Q1 2023 Earnings Conference Call May 9, 2023 9:00 AM ET
Company Participants
Jeremy Hellman - IR
Michael McCann - CEO
Jayme Brooks - CFO
Conference Call Participants
Rob Brown - Lake Street Capital
Chip Moore - EF Hutton
Gerry Sweeney - ROTH Capital
Operator
Good day, ladies and gentlemen. Welcome to the Limbach First Quarter 2023 Conference Call and Webcast. [Operator Instructions]
I would now like to turn the call over to your host, Jeremy Hellman of the Equity Group. Jeremy, you may begin.
Jeremy Hellman
Thank you very much, and good morning, everyone. Yesterday, Limbach Holdings announced its first quarter 2023 results and filed its Form 10-Q for the period ended March 31, 2023. The company would also like to note that an updated investor presentation is available on the Investors section of the company website at www.limbachinc.com.Management will refer to select slides during today's call and encourages investors to review the presentation in its entirety. During this call, the company will be reviewing those results and providing an update on current market conditions. Today's discussion may contain forward-looking statements, and actual results may differ from any forecasts, projections or similar statements made during the earnings call.
Listeners are reminded to review the company's annual report on Form 10-K and quarterly reports on Form 10-Q for risk factors that may cause the actual results to differ from forward-looking statements made during the earnings call. Also, please note that during the question-and-answer session at the end of the call, we will only be taking questions from our analysts.
With that, I'll turn the call over to Mike McCann, Chief Executive Officer of Limbach Holdings. Please go ahead, Mike.
Michael McCann
Good morning. Welcome, everyone, and thanks for joining us. Joining me this morning is Jayme Brooks, our Chief Financial Officer.
2023 is off to a solid start with adjusted EBITDA pacing well ahead of the first quarter last year and also the year before that. Top line revenue was up modestly year-over-year, while gross margin continued to expand, driving the bottom line expansion. Our local teams continue to provide best-in-class services while always living our values.
On the whole market conditions remain much of the same when we spoke to you two months ago, and we continue to focus on managing the business, expanding our relationship with building owners who recognize the value in having a partner to manage their mission-critical building assets.Q1 was characterized by solid and consistent execution of our plan, which drove the sort of margin and bottom line success we continue to talk about. This success rests on three key pillars;