Revenue Growth - For the twelve months ended October 31, 2022, the company's revenue increased by 27.1%, reaching $401.3 million compared to $315.8 million in the previous year[144]. - The U.S. Concrete Pumping segment revenue grew by 29.2%, or $67.0 million, from $229.5 million in the prior year to $296.5 million in fiscal 2022[148]. - The U.K. Operations segment revenue increased by 14.2%, or $6.8 million, from $48.1 million to $54.9 million, with a 24.7% increase when excluding foreign currency translation[149]. - The U.S. Concrete Waste Management Services segment saw a revenue improvement of 30.1%, or $11.6 million, from $38.6 million to $50.2 million[150]. Profitability - Gross profit for the fiscal year 2022 was $163.6 million, an increase of $25.9 million from $137.7 million in fiscal 2021, although gross margin declined by 280 basis points to 40.8%[144]. - The company reported a net income of $28.7 million for the fiscal year 2022, compared to a net loss of $15.1 million in the previous year[145]. - The gross margin for the twelve months ended October 31, 2022, was 40.8%, down from 43.6% for the previous twelve months, primarily due to significant inflation in input costs[152]. - Adjusted EBITDA for the year ended October 31, 2022 was $118.6 million, compared to $104.3 million for the previous year[187]. - EBITDA for the year ended October 31, 2022 was $117.6 million, up from $68.7 million in the previous year[187]. Expenses and Costs - General and Administrative (G&A) expenses for the twelve months ended October 31, 2022, were $113.2 million, an increase of $13.8 million from $99.4 million in the previous year, with G&A expenses as a percentage of revenue decreasing to 28.2% from 31.5%[153]. - Rising fuel prices reduced gross profit by approximately $10.1 million and gross margin by about 2.5% since October 31, 2021[138]. - Interest expense, net for the year ended October 31, 2022, was $25.9 million, an increase of $0.7 million from the same period a year ago[158]. Assets and Liquidity - Total assets increased from $792.7 million as of October 31, 2021, to $887.5 million as of October 31, 2022, primarily due to growth in the U.S. Concrete Pumping segment[146]. - As of October 31, 2022, the company had $7.5 million in cash and cash equivalents and $103.7 million of available borrowing capacity under the ABL Facility, totaling $111.2 million in available liquidity[167]. - The outstanding balance under the ABL Facility as of October 31, 2022 was $52.1 million, with the Company in compliance with all debt covenants[179]. Strategic Acquisitions - The company executed strategic acquisitions, including Hi-Tech for $12.3 million, Pioneer for $20.2 million, and Coastal for $30.8 million, enhancing its market presence[133]. - The Company used $124.1 million for investing activities during the twelve months ended October 31, 2022, including $101.9 million for property, plant, and equipment and $30.8 million for the acquisition of Coastal[183]. Market Outlook - The company anticipates fluctuations in residential end market volumes due to macroeconomic factors, while commercial and infrastructure markets may continue to show strong demand[139]. Tax and Fair Value - The company recorded an income tax expense of $5.5 million on a pretax income of $34.2 million for the twelve months ended October 31, 2022[159]. - The company recognized a $9.9 million gain on the fair value remeasurement of liability-classified warrants for the year ended October 31, 2022, compared to a $9.9 million expense in the previous year[156]. - The fair value of U.S. Concrete Waste Management Services exceeded its carrying value by 82% as of August 31, 2022[200]. - The fair value of U.K. Operations exceeded its carrying value by 32% as of the same date[200]. - The U.S. Concrete Pumping reporting unit had goodwill of $147.5 million, with its fair value approximately 7% greater than its carrying value[201]. - Management's projections included terminal growth rates of 3.0% and discount rates ranging from 10.0% to 11.3%[200]. - The company applies ASC 805 principles for business combinations, recording assets at fair value and recognizing goodwill when applicable[202]. - Fair value determinations require significant estimates and assumptions, impacting reported depreciation, amortization, and income tax expenses[203].

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Q4 2022 Earnings Conference Call January 23, 2023 5:00 PM ET Company Participants Cody Slach - External Director, Investor Relations Bruce Young - Chief Executive Officer Iain Humphries - Chief Financial Officer Conference Call Participants Andy Wittmann - Robert W. Baird Brent Thielman - D.A. Davidson Operator Good afternoon, everyone, and thank you for participating in today's conference call to discuss Concrete Pumping Holdings' Financial Results for the Four ...

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Q3 2022 Earnings Conference Call September 8, 2022 5:00 PM ET Company Participants Bruce Young - CEO Iain Humphries - CFO Cody Slach - External Director, IR Conference Call Participants Andy Wittmann - Baird Steven Fisher - UBS Brent Thielman - D.A. Davidson Tim Mulrooney - William Blair Stanley Elliott - Stifel Operator Good afternoon, everyone, and thank you for participating in today's conference call to discuss Concrete Pumping Holdings' financial results fo ...

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Q2 2022 Earnings Conference Call June 7, 2022 5:00 PM ET Company Participants Cody Slach - External Director, IR Bruce Young - CEO Iain Humphries - CFO Conference Call Participants Brent Thielman - D.A. Davidson Robert Schultz - Baird Operator Good afternoon, everyone and thank you for participating in today's conference call to discuss Concrete Pumping Holdings' Financial Results for the Second Quarter ending April 30, 2022. Joining us today are Concrete Pumpin ...

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Q1 2022 Earnings Conference Call March 10, 2022 5:00 PM ET Company Participants Cody Slach - External Director, Investor Relations Bruce Young - Chief Executive Officer Iain Humphries - Chief Financial Officer Conference Call Participants Andy Wittmann - Baird Steven Fisher - UBS Zane Karimi - D.A. Davidson Brian Brophy - Stifel Tim Mulrooney - William Blair Operator Good afternoon, everyone and thank you for participating in today's conference call to discuss ...

Revenue Growth - For the three months ended January 31, 2022, the company's revenue increased by 21.3% year-over-year to $85.4 million, compared to $70.4 million in the same period of 2021[145]. - The U.S. Concrete Pumping segment revenue rose by 20.6%, or $10.8 million, primarily due to acquisitions and organic growth, reaching $63.1 million[151]. - The U.K. Operations segment revenue increased by 22.9%, or $2.2 million, driven by recovery from COVID-19 impacts, totaling $12.0 million[152]. - The U.S. Concrete Waste Management Services segment saw a revenue increase of 24.2%, or $2.0 million, attributed to organic growth and pricing improvements, reaching $10.5 million[153]. Profitability - Gross profit for the first quarter of fiscal 2022 was $34.1 million, with a gross margin of 39.9%, down from 42.4% in the prior year due to inflationary pressures[145][155]. - Net income for the first quarter of fiscal 2022 was $1.2 million, a significant improvement from a net loss of $12.3 million in the same period last year[146]. - Adjusted EBITDA for U.S. Concrete Pumping segment was $15.2 million in Q1 fiscal 2022, slightly down from $15.3 million in Q1 fiscal 2021, despite a 20.6% revenue increase due to higher fuel and labor costs[165]. - Adjusted EBITDA for U.K. Operations improved to $3.3 million in Q1 fiscal 2022 from $2.7 million in Q1 fiscal 2021, driven by revenue growth[166]. - U.S. Concrete Waste Management Services segment saw a 32.7% increase in Adjusted EBITDA to $4.9 million in Q1 fiscal 2022 from $3.7 million in Q1 fiscal 2021, attributed to strong revenue growth[167]. Cash Flow and Liquidity - Net cash provided by operating activities was $13.2 million for Q1 fiscal 2022, with a net income of $1.2 million and non-cash charges totaling $16.0 million[177]. - The company used $34.5 million for investing activities in Q1 fiscal 2022, primarily for property, plant, and equipment purchases totaling $35.4 million[178]. - Net cash provided by financing activities was $14.7 million in Q1 fiscal 2022, mainly from $15.2 million in net borrowings under the ABL Facility[179]. - As of January 31, 2022, the company had $2.8 million in cash and cash equivalents and $105.2 million in available borrowing capacity under the ABL Facility, totaling $108.0 million in liquidity[170]. Debt and Compliance - The outstanding principal amount of Senior Notes was $375.0 million as of January 31, 2022, with the company in compliance with all covenants[174]. - The ABL Facility had an outstanding balance of $16.2 million as of January 31, 2022, with the company also in compliance with all debt covenants[175]. Strategic Acquisitions - The company completed strategic acquisitions, including Pioneer Concrete Pumping Service for $20.1 million and Hi-Tech Concrete Pumping Services for $12.3 million, enhancing its market presence[134]. - The company plans to utilize cash and a revolving line of credit for opportunistic M&A to enhance its value proposition[132]. Impact of COVID-19 - The company continues to evaluate the impact of COVID-19 on its operations, with ongoing uncertainties affecting labor resources and market conditions[140]. - Impairment charges were primarily due to COVID-19, which negatively impacted market capitalization and increased the discount rate used in DCF models[197]. Accounting and Taxation - The company will no longer be classified as an emerging growth company as of October 31, 2022, and will adopt new accounting standards accordingly[188]. - The company emphasizes that its financial results may not be comparable to those of non-emerging growth companies due to its previous election to delay the adoption of new accounting standards[188]. - The company is subject to income taxes in multiple jurisdictions, requiring significant judgment in determining tax provisions[198]. - Deferred tax assets and liabilities are based on differences between financial statement balances and tax bases, using enacted tax rates for the year of reversal[199]. Goodwill and Fair Value - The company evaluates goodwill for possible impairment annually, generally as of August 31st, using a two-step process that includes qualitative and quantitative assessments[191]. - Fair value determinations are sensitive to changes in underlying assumptions, including projected revenue and market factors, particularly due to the impact of COVID-19[192]. - The estimated fair value of reporting units is determined using a discounted cash flow (DCF) model and a market approach, with significant assumptions regarding future operating performance and economic conditions[193]. - The DCF model relies on expected future after-tax operating cash flows, discounted using a risk-adjusted discount rate based on the weighted average cost of capital (WACC)[195]. - The guideline public company (GPC) method estimates value using multiples derived from publicly traded companies, requiring careful selection of comparable companies[196].

Concrete Pumping Holdings, Inc (NASDAQ:BBCP) Q4 2021 Earnings Conference Call January 12, 2022 5:00 PM ET Company Participants Cody Slach - Investor Relations Bruce Young - Chief Executive Officer Iain Humphries - Chief Financial Officer Conference Call Participants Andy Wittmann - Baird Tim Mulrooney - William Blair Brent Thielman - D.A. Davidson Steven Fisher - UBS Operator Good afternoon, everyone and thank you for participating in today’s conference call to discuss Concrete Pumping Holdings Financial Re ...