crete Pumping (US:BBCP)2026-01-13 21:11Financial Performance - Revenue for Q4 FY 2025 was $108.8 million, a decrease of 2.4% from $111.5 million in Q4 FY 2024[5] - Gross profit for Q4 FY 2025 was $43.3 million, down from $46.2 million, with a gross margin decline of 170 basis points to 39.8%[7] - Net income for Q4 FY 2025 was $5.3 million, compared to $9.4 million in the prior year quarter, resulting in diluted earnings per share of $0.09 versus $0.16[8] - Adjusted EBITDA for Q4 FY 2025 was $30.7 million, down from $33.7 million, with an adjusted EBITDA margin of 28.2% compared to 30.2%[9] - For FY 2025, revenue was $392.9 million, a decrease of 7.8% from $425.9 million in FY 2024[10] - Net income for FY 2025 was $6.4 million, down from $16.2 million in FY 2024, with diluted earnings per share of $0.09 compared to $0.26[12] - Revenue for the three months ended October 31, 2025, was $108.8 million, a decrease of 2.3% from $111.5 million in the same period of 2024[38] - Net income for the year ended October 31, 2025, was $6.4 million, compared to $16.2 million in 2024, reflecting a decline of 60.5%[39] - Total revenue for the three months ended October 31, 2025, was $108,787, a decrease of $2,696 or 2.4% compared to $111,483 in the same period of 2024[40] - Consolidated net income for the three months ended October 31, 2025, was $5,317, compared to $9,427 for the same period in 2024, representing a decrease of 43.5%[48] Liquidity and Capital Expenditures - Total available liquidity at the end of Q4 FY 2025 was $359.5 million, down from $378.0 million a year ago[5] - The company plans to accelerate approximately $22.0 million of capital equipment investments into FY 2026 due to upcoming stricter emissions laws[21] - Capital expenditures for Q1 2025 included approximately $2 million for growth investments[46] - Capital expenditures for Q2 2025 included approximately $2 million for growth investments[47] Segment Performance - U.S. Concrete Waste Management Services revenue increased 8% in Q4 FY 2025 to $21.3 million, driven by organic volume growth and pricing improvements[16] - U.S. Concrete Pumping segment revenue decreased by $2,343 or 3.1% to $72,161 for the three months ended October 31, 2025, compared to $74,504 in 2024[40] - U.S. Concrete Waste Management Services segment revenue increased by $1,492 or 7.5% to $21,329 for the three months ended October 31, 2025, compared to $19,837 in 2024[40] - U.K. Operations segment revenue decreased by $1,845 or 10.8% to $15,297 for the three months ended October 31, 2025, compared to $17,142 in 2024[40] - U.S. Concrete Waste Management Services segment net income increased by $393 or 7.2% to $5,853 for the year ended October 31, 2025, compared to $5,460 in 2024[44] - U.S. Concrete Pumping segment reported a net income of $1,131 for the three months ended October 31, 2025, compared to $3,778 in 2024, a decrease of 70.0%[48] - U.S. Concrete Waste Management Services segment achieved a net income of $3,037 for the three months ended October 31, 2025, slightly down from $3,932 in 2024, a decrease of 22.8%[49] - U.K. Operations reported a net income of $1,154 for the three months ended October 31, 2025, compared to $1,720 in 2024, a decrease of 32.9%[49] Debt and Interest - Total net debt as of October 31, 2025, was $380,606, a decrease from $387,212 as of April 30, 2025[50] - The company incurred interest expense of $8,200 for the three months ended October 31, 2025, compared to $5,976 in the same period of 2024, an increase of 37.0%[48] - Net debt as of October 31, 2025, was calculated as total debt obligations less cash, providing insight into the company's leverage[31] - The leverage ratio, defined as net debt to Adjusted EBITDA, is a standard measurement used by investors to assess creditworthiness[32] Other Financial Metrics - Adjusted EBITDA for the year ended October 31, 2025, was not explicitly stated but is a key measure for evaluating ongoing operating results[30] - Free cash flow for the year ended October 31, 2025, is defined as Adjusted EBITDA less net maintenance capital expenditures and cash paid for interest[33] - Total current assets increased slightly to $113.4 million as of October 31, 2025, compared to $112.4 million in 2024[37] - Total liabilities increased to $589.8 million as of October 31, 2025, from $551.3 million in 2024[37] - The company reported a decrease in accumulated deficit to $(85.0) million as of October 31, 2025, compared to $(38.2) million in 2024[37] - Depreciation and amortization for the year ended October 31, 2025, was $53,543, down from $57,110 in 2024, a decrease of 6.5%[48] - The company reported a loss on debt extinguishment of $1,392 for the year ended October 31, 2025[48] - Other adjustments for the year ended October 31, 2025, included a non-recurring charge related to sales tax litigation amounting to $3.5 million[51]