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Concrete Pumping Holdings, Inc. (symbol: BBCP) is a premier provider of concrete pumping and waste management services, operating in the United States and the United Kingdom. With its headquarters in Thornton, Colorado, the company has been a cornerstone in the construction industry since its founding in 1983.
Concrete Pumping Holdings, Inc. delivers its services under well-known brands like Brundage-Bone and Camfaud for concrete pumping, and Eco-Pan for waste management. The company serves a diverse clientele, including general contractors and concrete finishing companies, across commercial, infrastructure, and residential sectors. Its extensive fleet of specialized pumping equipment and trained operators ensures efficient concrete placement solutions, contributing to labor cost savings, decreased placement times, enhanced worksite safety, and improved construction quality.
In addition to its core services, Concrete Pumping Holdings offers industrial cleanup and containment services, primarily targeting the construction industry. The Eco-Pan brand provides a full-service, cost-effective, and regulatory-compliant solution to manage environmental issues caused by concrete washout.
The company's operations are segmented into U.S. Concrete Pumping, U.K. Operations, U.S. Concrete Waste Management Services, and Corporate. Notably, the U.S. Concrete Pumping segment generates the maximum revenue. Concrete Pumping Holdings has a significant footprint with approximately 100 branch locations across 21 states in the U.S. and around 30 branch locations in the U.K., alongside 20 operating locations for waste management services in the U.S. and one shared location in the U.K.
Recent achievements include a record revenue growth in fiscal year 2023, driven by the strength and diversification of its business. Concrete Pumping Holdings reported an increase in revenue to $442.2 million, a 10% rise compared to the previous year, along with a 7% increase in Adjusted EBITDA to $124.6 million. The U.S. Concrete Pumping segment saw a 7% revenue growth to $317.9 million, attributed largely to organic growth and strategic acquisitions like Coastal Carolina. The U.K. Operations segment also performed well, with a 14% revenue increase to $62.6 million.
Looking forward, Concrete Pumping Holdings anticipates continued growth, projecting fiscal year 2024 revenues between $460.0 million and $480.0 million, and Adjusted EBITDA between $122.0 million and $130.0 million. The company's strategy includes evaluating opportunistic, accretive mergers and acquisitions while strategically reducing leverage.
Concrete Pumping Holdings is committed to maintaining a robust financial condition, demonstrated by its share repurchase plan and effective cash flow management. The company’s focus on sustainability and regulatory compliance positions it well in a market that prioritizes environmental stewardship.
Concrete Pumping Holdings (Nasdaq: BBCP) announced a conference call scheduled for September 8, 2022, at 5:00 p.m. Eastern time to discuss third-quarter financial results for fiscal year 2022, ending July 31, 2022. CEO Bruce Young and CFO Iain Humphries will lead the call, which will include a Q&A session. The call can be accessed via toll-free numbers or through the Company's investor relations website. A replay will be available until September 29, 2022. Concrete Pumping Holdings operates under national brands like Brundage-Bone and Eco-Pan, offering concrete pumping and waste management services.
Concrete Pumping Holdings has acquired Coastal Carolina Pumping, a leader in concrete pumping services in the Carolinas and Florida. This all-cash deal includes 89 equipment units and was financed through existing debt and strong cash flow. The acquisition strengthens CPH's presence in the North Carolina, South Carolina, and Florida markets, enhancing service offerings and fleet availability. It aligns with CPH’s recent expansion strategy in the Washington D.C. area, poised for significant growth over the next decade.
Concrete Pumping Holdings (Nasdaq: BBCP) announced an upsized ABL facility of $160 million, increased from $125 million, facilitated by JPMorgan Chase Bank. The company’s CFO, Iain Humphries, expressed optimism about enhanced liquidity for growth opportunities. This upsizing is in line with their strategy to maximize shareholder value in fiscal year 2022. Concrete Pumping operates major brands like Brundage-Bone and Eco-Pan, providing services across the U.S. and U.K.
Concrete Pumping Holdings (Nasdaq: BBCP) reported a 25.5% revenue increase to $96.5 million for Q2 FY2022, driven by organic growth and acquisitions. Gross profit rose 16.9% to $38.9 million, yet gross margin decreased to 40.4% due to inflationary pressures, notably in diesel fuel. Net income improved significantly to $5.6 million ($0.10/share) from a net loss of $11.4 million. The company completed three tuck-in acquisitions for $11.4 million and authorized a $10 million share repurchase plan, aiming to enhance shareholder value amid ongoing inflationary challenges.
Concrete Pumping Holdings (Nasdaq: BBCP) will hold a conference call on June 7, 2022, at 5:00 p.m. Eastern time to discuss its second-quarter financial results for FY 2022, ending April 30, 2022. CEO Bruce Young and CFO Iain Humphries will lead the call, which will include a Q&A session. Interested parties can join via toll-free and international dial-in options. A replay will be available until June 28, 2022.
As of January 31, 2022, Concrete Pumping Holdings operates 95 locations in the U.S. and 30 in the U.K., offering concrete pumping and waste management services under established national brands.
Concrete Pumping Holdings reported a strong first quarter for fiscal 2022, with revenue increasing 21.3% to $85.4 million from $70.4 million a year earlier. This growth was driven by double-digit increases across all segments. Gross margin fell to 39.9% due to inflation, primarily in diesel fuel. Notably, net income turned positive at $0.7 million, compared to a loss of $(12.8) million in the prior year. Adjusted EBITDA rose 7.3% to $24.0 million, while liquidity stood at $108.0 million. The company anticipates fiscal year 2022 revenue between $360 million and $370 million.
Concrete Pumping Holdings, operating under Nasdaq: BBCP, will hold a conference call on March 10, 2022, at 5:00 p.m. Eastern time to discuss its Q1 fiscal results for the period ending January 31, 2022. The call will feature CEO Bruce Young and CFO Iain Humphries, followed by a Q&A session. Interested parties can join via toll-free dial-in numbers or participate in a live broadcast available for replay. Concrete Pumping Holdings, a leader in the concrete pumping and waste management sector, operates under prominent brands like Brundage-Bone in the U.S. and Camfaud in the U.K.
Concrete Pumping Holdings reported solid results for Q4 and fiscal year 2021. Revenue rose 11% to $87.8 million, while gross profit increased 5% to $37.3 million. Significant operational improvement was evident as income from operations surged 169% to $11.7 million. The company's net income hit $2.8 million, a turnaround from a loss of $3.1 million last year. Despite inflationary pressures reducing margins, the company maintained total available liquidity of $129.9 million. For FY 2022, revenue guidance is set between $360 million and $370 million, indicating continued growth.
Concrete Pumping Holdings (BBCP) announced a conference call on January 12, 2022, at 5:00 p.m. Eastern time to discuss its financial results for Q4 and fiscal year ending October 31, 2021. CPH will release these results before the call. The call will be hosted by CEO Bruce Young and CFO Iain Humphries, followed by a Q&A session. Interested parties can join the call using provided toll-free and international numbers. A replay will be available after 8:00 p.m. Eastern time the same day, lasting until February 2, 2022.
Concrete Pumping Holdings (Nasdaq: BBCP) will attend the Baird Global Industrial Conference on November 10, 2021. CFO Iain Humphries will hold investor meetings and participate in a fireside chat at the event.
The company is a top provider of concrete pumping and waste management services in the U.S. and U.K., operating under national brands such as Brundage-Bone and Camfaud. As of July 31, 2021, they serviced around 90 U.S. locations across 19 states and 30 U.K. locations, focusing on improving labor cost efficiency and construction quality.
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