Financial Data and Key Metrics Changes - Revenue for the second quarter was $94 million, down from $107.1 million in the prior year quarter, primarily due to a decline in the U.S. Concrete Pumping segment [10][11] - Gross margin declined by 50 basis points to 38.5% compared to 39% in the same year ago quarter [12] - Net loss available to common shareholders was $400,000 or $0.01 per diluted share, compared to net income of $2.6 million or $0.05 per diluted share in the prior year quarter [13] - Consolidated adjusted EBITDA was $22.5 million, down from $27.5 million in the same year ago quarter, with an adjusted EBITDA margin of 23.9% compared to 25.7% in the prior year quarter [13][14] Business Line Data and Key Metrics Changes - U.S. Concrete Pumping segment revenue was $62.1 million, down from $74.6 million in the prior year quarter, with adverse weather impacting revenue by approximately $3 million to $4 million [10][11] - U.K. operations revenue was $13.8 million, down from $15.5 million in the same year ago quarter, due to lower volumes from a slowdown in commercial construction [11] - U.S. Concrete Waste Management Services revenue increased by 7% to $18.1 million, driven by increased pan pickup volumes and improved pricing [12][14] Market Data and Key Metrics Changes - The commercial end market is experiencing construction softness, particularly in interest rate-sensitive areas, while residential markets in certain regions remain resilient [6][8] - Infrastructure end markets continue to grow, with strong performance in the U.K. and the U.S., supported by funding from the Infrastructure Investment and Jobs Act [9][10] Company Strategy and Development Direction - The company is focused on capital allocation, cost discipline, fleet optimization, and strategic pricing to navigate the challenging construction environment [4][5] - The company plans to continue investments in fleet and strategic acquisitions when the timing is right, while maintaining a strong balance sheet [20] Management's Comments on Operating Environment and Future Outlook - Management noted that higher interest rates and macroeconomic uncertainty are delaying commercial project starts, with expectations for a market recovery pushed to 2026 at the earliest [17][19] - The company remains optimistic about the infrastructure market, expecting continued growth due to strong project backlogs and funding availability [26][30] Other Important Information - The company repurchased approximately 1 million shares for $6 million during the second quarter, with an additional $15 million authorized for the share buyback plan [16] - The adjusted EBITDA guidance for fiscal year 2025 is expected to range between $95 million and $100 million, with revenue projected between $380 million and $390 million [17] Q&A Session Summary Question: Clarification on guidance regarding construction market recovery - Management confirmed that the expectation of no meaningful recovery pertains to both commercial and residential construction, with optimism for recovery in the commercial market once tariff discussions settle [22][24] Question: Visibility into the infrastructure market - Management indicated strong growth across nearly all segments of infrastructure, including roads, bridges, and airport construction, with expectations for continued strength in both the U.S. and U.K. [25][26] Question: Project delays and customer feedback - Management noted that project delays are primarily due to tariffs and uncertainty, but customers have strong backlogs for the next year, indicating optimism for future project starts [29][30]

Financial Data and Key Metrics Changes - Revenue for the second quarter was $94 million, down from $107.1 million in the prior year quarter, primarily due to a decline in the U.S. Concrete Pumping segment [10][11] - Gross margin declined by 50 basis points to 38.5% compared to 39% in the same year ago quarter [12] - Net loss available to common shareholders was $400,000 or $0.01 per diluted share, compared to net income of $2.6 million or $0.05 per diluted share in the prior year quarter [13] - Consolidated adjusted EBITDA was $22.5 million, down from $27.5 million in the same year ago quarter, with an adjusted EBITDA margin of 23.9% compared to 25.7% in the prior year quarter [13][14] Business Line Data and Key Metrics Changes - U.S. Concrete Pumping segment revenue was $62.1 million, down from $74.6 million in the prior year quarter, with adverse weather impacting revenue by approximately $3 million to $4 million [10][11] - U.K. operations revenue was $13.8 million, down from $15.5 million in the same year ago quarter, due to lower volumes from a slowdown in commercial construction [11] - U.S. Concrete Waste Management Services segment revenue increased by 7% to $18.1 million compared to $16.9 million in the prior year quarter, driven by increased pan pickup volumes and improved pricing [12] Market Data and Key Metrics Changes - The commercial end market is experiencing construction softness, particularly in interest rate-sensitive sectors like commercial and office buildings [6] - Residential end markets in the Mountain and Texas regions remain resilient, but signs of softness are emerging in other U.S. regions due to elevated interest rates [7][8] - Infrastructure end markets continue to grow, with expectations for robust performance in fiscal year 2025 due to favorable funding environments in both the U.K. and U.S. [8][9] Company Strategy and Development Direction - The company remains focused on capital allocation, cost discipline, fleet optimization, and strategic pricing despite macroeconomic headwinds [4][5] - The company is committed to a prudent capital allocation and flexible investment strategy, with expectations for continued investments in fleet and service offerings [18][19] - The company plans to pursue disciplined strategic acquisitions and return capital to shareholders through share buybacks and dividends [21] Management's Comments on Operating Environment and Future Outlook - Management noted that higher interest rates and macroeconomic uncertainty are delaying commercial project starts and impacting residential construction [5][18] - The company does not expect a meaningful market rebound in the current fiscal year, adjusting revenue guidance to between $380 million and $390 million [18] - Management expressed optimism about the recovery of the commercial market once tariff discussions settle and interest rates potentially decrease [25] Other Important Information - The company repurchased approximately 1 million shares for $6 million during the second quarter, with an additional $15 million authorized for the share buyback plan [16][17] - Total debt outstanding as of April 30, 2025, was $425 million, with a net debt to EBITDA leverage ratio of approximately 3.7 times [15] Q&A Session Summary Question: Confirmation on guidance regarding construction recovery - Management confirmed that the expectation of no meaningful recovery pertains to both commercial and residential construction, with optimism for the commercial market once tariff discussions settle and interest rates decrease [24][25] Question: Visibility into the infrastructure market - Management indicated growth across nearly all segments of infrastructure, with strong results expected in 2025, particularly in roads, bridges, and airport construction [26][27] Question: Project delays and customer feedback - Management noted that project delays are primarily due to tariffs and uncertainty, but customers have strong backlogs for next year, indicating optimism for future project starts [30][31]

Announces $15 Million Increase to Share Repurchase PlanDENVER, June 05, 2025 (GLOBE NEWSWIRE) -- Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) (the "Company" or "CPH"), a leading provider of concrete pumping and waste management services in the U.S. and U.K., reported financial results for the second quarter ended April 30, 2025. Second Quarter Fiscal Year 2025 Summary vs. Second Quarter of Fiscal Year 2024 (where applicable) Revenue of $94.0 million compared to $107.1 million.Gross profit of $36.2 million ...

DENVER, May 27, 2025 (GLOBE NEWSWIRE) -- Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) (“CPH” or the “Company”), a leading provider of concrete pumping and waste management services in the U.S. and U.K., will hold a conference call on Thursday, June 5, 2025, at 5:00 p.m. Eastern Time to discuss its financial results for the second quarter ended April 30, 2025. The Company will report its financial results in a press release prior to the conference call. CPH’s CEO Bruce Young and CFO Iain Humphries will hos ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $86.4 million, down from $97.7 million in Q1 2024, primarily due to a decline in the U.S. Concrete Pumping segment and severe winter weather [13][14] - Gross margin increased by 200 basis points to 36.1% compared to 34.1% in the prior year quarter, driven by cost control initiatives [16] - Net loss available to common shareholders was $3.1 million or $0.06 per diluted share, an improvement from a net loss of $4.3 million or $0.08 per diluted share in the prior year [17] - Adjusted EBITDA for Q1 2025 was $17 million, down from $19.3 million in the same year-ago quarter, but the adjusted EBITDA margin remained unchanged at 19.7% [18] Business Line Data and Key Metrics Changes - U.S. Concrete Pumping segment revenue decreased to $56.9 million from $66.7 million due to a slowdown in commercial construction and weather impacts [14] - UK operations revenue was $12.8 million, down from $15.4 million, attributed to lower volumes from commercial construction [15] - U.S. Concrete Waste Management Services segment revenue increased by 7% to $16.7 million, driven by increased volumes and improved pricing [15] Market Data and Key Metrics Changes - The commercial end market experienced construction softness, particularly in light commercial and warehouse sectors, while larger projects remained durable but slower [9] - The residential end market showed resilience, with 33% of total revenue coming from residential concrete pumping work [10] - Infrastructure market revenue share grew slightly year-over-year, with expectations for continued growth in fiscal 2025 [11] Company Strategy and Development Direction - The company is focused on disciplined fleet management and cost control to enhance gross margins and sustain adjusted EBITDA margins [8] - A flexible capital investment strategy is in place to prepare for market recovery in fiscal 2025 and beyond [8] - The company is exploring M&A opportunities as the market improves, indicating a shift in capital allocation priorities [48] Management's Comments on Operating Environment and Future Outlook - Management noted that higher interest rates and extreme weather conditions negatively impacted revenue, estimating a $5 million revenue loss due to weather in Q1 [6][7] - The company expects a recovery in commercial market demand and is optimistic about the impact of improved weather patterns [29] - Full-year revenue guidance was adjusted to a range of $400 million to $420 million, with adjusted EBITDA expected between $105 million and $115 million [25] Other Important Information - Total debt outstanding was $425 million, with net debt of $340 million, reflecting a decrease of $33 million over the year [20] - The company successfully closed a private offering of $425 million in senior secured second lien notes, which were used for debt redemption and a special dividend of $1 per share [21][22] - Approximately 296,000 shares were repurchased for $1.9 million during the first quarter, with a total of $20 million repurchased since the buyback was initiated [23] Q&A Session Summary Question: Revenue guidance reduction - Management indicated that the revenue guidance was adjusted due to both the shortfall in Q1 and a broader assessment of the entire fiscal year [36] Question: Weather-related disruptions - Management confirmed that weather-related disruptions were more severe than in the previous year, impacting volume significantly [41] Question: Capital allocation priorities - Management emphasized a commitment to maintaining a disciplined approach to capital allocation, including debt reduction and potential M&A opportunities [47][48] Question: Eco-Pan segment performance - The Eco-Pan segment faced similar weather challenges but benefited from a broader market share [52] Question: Equipment capacity and pricing dynamics - Management acknowledged a surplus of equipment in the market, primarily affecting residential and light commercial sectors [55] Question: Future CapEx expectations - Management indicated that there would not be significant changes in capital expenditures, as current fleet capacity is sufficient for expected volumes [58] Question: Margin dynamics - Management explained that effective control over variable costs, including labor and fuel, helped maintain margins despite lower volumes [66] Question: Concrete Waste Management Services growth - Management noted that growth in the Eco-Pan segment was impacted by weather, and pricing improvements were modest [68]