crete Pumping (BBCP) - 2024 Q2 - Quarterly Report

Part I. Financial Information Item 1. Financial Statements Presents unaudited condensed consolidated financial statements, including balance sheets, operations, comprehensive income, equity, cash flows, and detailed notes Condensed Consolidated Balance Sheets (Unaudited) Condensed Consolidated Balance Sheets (in thousands) | Metric (in thousands) | April 30, 2024 | October 31, 2023 | Change ($) | Change (%) | | :-------------------- | :------------- | :--------------- | :--------- | :--------- | | Total Assets | $894,713 | $904,525 | $(9,812) | (1.1)% | | Total Liabilities | $561,412 | $571,285 | $(9,873) | (1.7)% | | Total Stockholders' Equity | $308,301 | $308,240 | $61 | 0.0% | | Current Assets | $99,459 | $94,270 | $5,189 | 5.5% | | Current Liabilities | $79,973 | $83,976 | $(4,003) | (4.8)% | | Working Capital | $19,486 | $10,294 | $9,192 | 89.3% | Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended April 30 | Metric (in thousands) | 2024 | 2023 | Change ($) | Change (%) | | :-------------------- | :-------- | :-------- | :--------- | :--------- | | Revenue | $107,062 | $107,791 | $(729) | (0.7)% | | Cost of operations | $65,295 | $64,317 | $978 | 1.5% | | Gross profit | $41,767 | $43,474 | $(1,707) | (3.9)% | | General and administrative expenses | $29,712 | $30,258 | $(546) | (1.8)% | | Income from operations| $12,055 | $13,216 | $(1,161) | (8.8)% | | Total other expense | $(6,829) | $(6,163) | $(666) | 10.8% | | Income before income taxes | $5,226 | $7,053 | $(1,827) | (25.9)% |\n| Income tax expense | $2,180 | $1,465 | $715 | 48.8% | | Net income | $3,046 | $5,588 | $(2,542) | (45.5)% | | Income (loss) available to common shareholders | $2,616 | $5,161 | $(2,545) | (49.3)% | | Basic EPS | $0.05 | $0.09 | $(0.04) | (44.4)% | | Diluted EPS | $0.05 | $0.09 | $(0.04) | (44.4)% | Six Months Ended April 30 | Metric (in thousands) | 2024 | 2023 | Change ($) | Change (%) | | :-------------------- | :-------- | :-------- | :--------- | :--------- |\n| Revenue | $204,773 | $201,366 | $3,407 | 1.7% | | Cost of operations | $129,692 | $121,438 | $8,254 | 6.8% | | Gross profit | $75,081 | $79,928 | $(4,847) | (6.1)% | | General and administrative expenses | $61,570 | $57,299 | $4,271 | 7.5% | | Income from operations| $13,511 | $22,629 | $(9,118) | (40.3)% | | Total other expense | $(13,122) | $(8,457) | $(4,665) | 55.2% | | Income before income taxes | $389 | $14,172 | $(13,783) | (97.3)% | | Income tax expense | $1,169 | $2,109 | $(940) | (44.6)% | | Net income (loss) | $(780) | $12,063 | $(12,843) | (1064.7)% | | Income (loss) available to common shareholders | $(1,650) | $11,195 | $(12,845) | (114.7)% | | Basic EPS | $(0.03) | $0.20 | $(0.23) | (115.0)% | | Diluted EPS | $(0.03) | $0.20 | $(0.23) | (115.0)% | Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended April 30 | Metric (in thousands) | 2024 | 2023 | Change ($) | Change (%) | | :-------------------- | :------- | :------- | :--------- | :--------- |\n| Net income (loss) | $3,046 | $5,588 | $(2,542) | (45.5)% | | Foreign currency translation adjustment | $(1,529) | $1,678 | $(3,207) | (191.1)% | | Total comprehensive income | $1,517 | $7,266 | $(5,749) | (79.1)% | Six Months Ended April 30 | Metric (in thousands) | 2024 | 2023 | Change ($) | Change (%) |\n| :-------------------- | :------- | :------- | :--------- | :--------- |\n| Net income (loss) | $(780) | $12,063 | $(12,843) | (1064.7)% | | Foreign currency translation adjustment | $2,559 | $6,730 | $(4,171) | (62.0)% | | Total comprehensive income | $1,779 | $18,793 | $(17,014) | (90.5)% | Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) Changes in Stockholders' Equity (Six Months Ended April 30, 2024) | Metric (in thousands) | Amount |\n| :------------------------------------ | :--------- |\n| Balance, October 31, 2023 | $308,240 | | Stock-based compensation expense | $1,273 | | Treasury shares purchased for tax withholding | $(1,500) | | Treasury shares purchased under share repurchase program | $(1,517) | | Net income (loss) | $(780) | | Foreign currency translation adjustment | $2,559 | | Balance, April 30, 2024 | $308,301 | Condensed Consolidated Statements of Cash Flows (Unaudited) Six Months Ended April 30 | Metric (in thousands) | 2024 | 2023 | Change ($) | Change (%) |\n| :------------------------------------ | :--------- | :--------- | :--------- | :--------- |\n| Net cash provided by operating activities | $29,445 | $31,092 | $(1,647) | (5.3)% | | Net cash used in investing activities | $(23,581) | $(31,129) | $7,548 | 24.2% | | Net cash used in financing activities | $(4,135) | $(1,052) | $(3,083) | (293.1)% | | Effect of foreign currency exchange rate changes on cash | $366 | $250 | $116 | 46.4% | | Net increase (decrease) in cash and cash equivalents | $2,095 | $(839) | $2,934 | 349.7% | | Cash and cash equivalents, beginning of period | $15,861 | $7,482 | $8,379 | 112.0% | | Cash and cash equivalents, end of period | $17,956 | $6,643 | $11,313 | 170.3% | [Notes to the Condensed Consolidated Financial Statements (Unaudited)](index=