Limbach Holdings, Inc.

Once again, to ask a question, please press star 1 on your telephone keypad. One moment while we compile the Q&A roster. Your first question comes from Rob Brown of Lake Street Capital.

Good morning. Congratulations on all the progress. Good morning. Thank you, Rob. Just wanted to get a little color on kind of the demand environment and maybe focus on owner direct, but overall demand environment, how has that been trending? And, you know, obviously the strong results, it's been good, but, you know, what's the demand environment and sort of visibility like?

Yeah, Rob, the demand environment is still really strong. And I think one of the things that we're really focused on, and I mentioned this, is we want to make sure that our customers have mission-critical systems. And if you kind of look at the vertical markets, that we're in, sometimes each one of these vertical markets will shift towards short-term repair work versus long-term capital expenditures. And right now we have a diverse enough group of vertical markets that each one of them is operating a little bit differently, but they all have demand. The question is the demand short-term or long-term. And just as a couple examples of this, healthcare, still high demand but more of a quicker turn. The data center, emission-critical market, they're investing in long-term capital expenditures. It's maybe hedged a little bit towards that direction. From a manufacturing standpoint, a lot of it is customer-dependent, whether they're short-term or long-term, but we're well-positioned because those customers are mission-critical and because we've positioned ourselves. And then lastly, if you look at higher ed and life science, on higher ed, we typically work for, if we're working for a university, it's going to be lab style work and that market's kind of changed a little bit, but the demand is still there. It's gone from maybe less of a core and shell to a fit out spec lab. And it's also kind of tailored. So the biggest thing is our teams are really focused on working for mission critical customers that have equipment that can't go down. And we always use this example internally. If they have a call on Saturday and the equipment goes down at three o'clock, if they can wait till Monday or Tuesday, then they're not mission critical. So we use that as a simple guide, but, you know, demand's still really strong.