RBC Capital has initiated coverage on Legence Corp (LGN) with an Outperform rating as of October 6, 2025. This marks the firm's first assessment of the company's investment potential, reflecting their analysis of Legence's business, industry dynamics, and growth prospects.
Legence Corp, headquartered in San Jose, California, operates in the construction sector, providing engineering, installation, and maintenance services for mission-critical systems in buildings. The company employs approximately 6,000 full-time staff and went public on September 12, 2025. It operates through two segments: Engineering & Consulting and Installation & Maintenance. The former focuses on designing HVAC and other mechanical, electrical, and plumbing systems, while the latter fabricates and installs these systems in various building types.
Currently, Legence Corp has a market capitalization of $4.7 billion. The company is expected to report its upcoming earnings on November 14, 2025, with an estimated EPS of $0.06 and projected revenue of $646.2 million. Notably, Legence reported a Q3 2025 EPS of $0.18, surpassing estimates by 207.7%.
As of November 1, 2025, analyst consensus shows a positive outlook, with 7 Strong Buy, 9 Buy, and 3 Hold ratings among 19 total analysts. This update provides insight into the growing interest in Legence Corp, as evidenced by recent coverage from other firms, including Barclays and Guggenheim, both initiating ratings on the same day as RBC Capital.
Analyst ratings offer a professional perspective based on research and financial models, but investors should consider multiple factors, including company fundamentals and market conditions, before making decisions.