LGN

Baron Small Cap Fund (the Fund) was up 12.57% (Institutional Shares) in the second quarter, trailing the Russell 2000 Growth Index (the Index) by 13.14%, as the Index was up 25.71%. Shares increased during the quarter as Vertiv reported strong Q1 financial results (adjusted earnings per share increased 83% year-over-year) and increased fiscal year guidance fueled by organic sales growth of around 30%. Planet Fitness, Inc. , the leading high-value, low-cost gym operator, detracted from performance in the second quarter after the company lowered full-year guidance following weaker-than-expected member additions in the first quarter.

Legence Corp. is rated a Strong Buy, driven by robust earnings growth and integration benefits from the Bowers Group acquisition. Despite margin pressure from Bowers, LGN raised guidance, now targeting $450 million adjusted EBITDA in 2026 and trading at an attractive 9.39x EV/EBITDA. Private equity selling, notably Blackstone reducing its stake from 72% to 47%, has weighed on sentiment but does not reflect LGN's growth trajectory.

Legence LGN NASDAQ: LGN reported record second-quarter results as demand for mission-critical building systems remained strong, led by data centers and technology projects, while the company raised its full-year revenue and adjusted EBITDA outlook.

Record Quarterly Revenues of $1.26 Billion, a 111% Increase from a Year Ago Excluding Bowers Acquisition, Revenues (non-GAAP) Grew by 60% from a Year Ago1 Quarterly Adjusted EBITDA (non-GAAP) Increased 114% from Prior Year2 Record Total Backlog and Awarded Contracts of $5.67 Billion, a 105% Increase from a Year Ago Establish Third Quarter 2026 Guidance for Revenue of $1.225 Billion - $1.275 Billion and Non-GAAP Adjusted EBITDA of $150 Million - $160 Million Raise Full Year 2026 Guidance for Revenue to $4.7 Billion - $4.8 Billion and Non-GAAP Adjusted EBITDA of $565 Million - $585 Million SAN JOSE, Calif., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Legence Corp. (Nasdaq: LGN) (“Legence” or the “Company”) today reported financial results for the second quarter ended June 30, 2026.

SAN JOSE, Calif., July 27, 2026 (GLOBE NEWSWIRE) -- Legence Corp. (Nasdaq: LGN) (“Legence” or the “Company”) today announced that it will release results for the second quarter ended June 30, 2026 on Thursday, August 13, 2026, prior to the market open.

STRL, INOD and LGN are benefiting from AI-driven engineering demand as infrastructure spending and smart project adoption fuel industry growth.

SAN JOSE, California, May 28, 2026 (GLOBE NEWSWIRE) -- Legence Corp. (Nasdaq: LGN) (“Legence” or the “Company”) today announced the amendment of its $995 million term loan credit facility, reducing the applicable interest rate to Secured Overnight Financing Rate (“SOFR”) plus 2.00%, representing a 25 basis point reduction in pricing. Additionally, the applicable interest rate shall decline further to SOFR plus 1.75%, representing an incremental 25-basis point decrease in pricing, at such time Legence receives a one notch upgrade to its corporate credit rating from either major credit rating agency.

Legence Corp. (LGN) Q1 2026 Earnings Call Transcript

Legence LGN NASDAQ: LGN reported sharply higher first-quarter 2026 revenue and adjusted EBITDA, driven by strong demand for mission-critical building systems, growth in data center and technology projects, and the contribution from its Bowers Group acquisition.

Record Quarterly Revenues of $1.04 Billion, a 105% Increase from a Year Ago Excluding Bowers Acquisition, Revenues (non-GAAP) Grew by 57% from a Year Ago1 Quarterly Adjusted EBITDA (non-GAAP) Increased 132% from Prior Year2 Record Total Backlog and Awards of $5.38 Billion, 104% Increase from a Year Ago, with Q1 Book-to-Bill of 1.2x Establish Second Quarter 2026 Guidance for Revenue of $1.05 Billion - $1.1 Billion and Non-GAAP Adjusted EBITDA of $115 Million - $125 Million Raise Full Year 2026 Guidance for Revenue to $4.1 Billion - $4.3 Billion and Non-GAAP Adjusted EBITDA of $470 Million - $490 Million SAN JOSE, Calif., May 14, 2026 (GLOBE NEWSWIRE) -- Legence Corp. (Nasdaq: LGN) (“Legence” or the “Company”) today reported financial results for the first quarter ended March 31, 2026.