Legence Corp. Q4 2025 Earnings Call Summary: Record Revenue Growth, Expanded Backlog, and Strategic Acquisitions

Legence Corp. reported record Q4 revenue growth of 35%, driven by demand for technical cooling systems in the data center and technology sectors. Total backlog increased 49% YoY, and the company acquired the Bowers Group, expanding fabrication footprint by 50%. The successful execution was attributed to a unionized workforce of 6,600 craftspeople. For 2026, revenue guidance was raised to $3.7-$3.9 billion, with a planned capital expenditure of $65 million and a normalized effective tax rate of 30%.