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Concrete Pumping Holdings reports developments tied to concrete pumping, concrete waste management, and related construction services in the United States and the United Kingdom. Its recurring updates cover operating results, gross profit, income from operations, Adjusted EBITDA, debt and liquidity measures, and performance across U.S. Concrete Pumping, U.K. Operations, and U.S. Concrete Waste Management Services.
The company also announces acquisition activity through brands and subsidiaries such as Camfaud and Brundage-Bone. Recent completed transactions expanded its geographic reach in Ireland and added a U.K. temporary power platform with generator rental, distribution equipment, cabling, fuel management, and on-site support services for construction and infrastructure customers.
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Concrete Pumping Holdings reported a 10% revenue growth to $93.6 million for Q1 FY2023, up from $85.4 million. Gross profit rose 7% to $36.5 million, with net income increasing significantly to $6.5 million from $1.2 million. The company’s Adjusted EBITDA also grew by 7% to $25.0 million, with a margin slightly declining to 26.8%. The U.S. Concrete Waste Management segment excelled with a 32% revenue increase. The company pursued M&A by acquiring Cherokee Pumping and Cherokee Materials for $6.3 million. Despite higher operational costs, the outlook for FY2023 anticipates revenues between $420 million and $445 million.
Concrete Pumping Holdings (BBCP) will hold a conference call on March 9, 2023, at 5:00 p.m. Eastern time to discuss its financial results for the first quarter ended January 31, 2023. The call will feature CEO Bruce Young and CFO Iain Humphries, followed by a Q&A session. Interested participants can join via the provided toll-free or international dial-in numbers, with a replay available until March 15, 2023. Concrete Pumping Holdings is a top provider of concrete pumping and waste management services, operating notable brands in the U.S. and U.K., including Brundage-Bone, Camfaud, and Eco-Pan.
Concrete Pumping Holdings reported strong financial results for Q4 and fiscal year 2022. Revenue surged by 31% in Q4 to $114.9 million, driven by organic growth and acquisitions, leading to a 170% increase in net income, reaching $8.1 million or $0.14 per diluted share. For the fiscal year, revenue rose 27% to $401.3 million, with net income improving to $26.9 million. The company launched a $10 million increase to its share repurchase plan, reflecting its commitment to shareholder value. However, liquidity decreased to $111.2 million due to recent acquisitions.
Concrete Pumping Holdings (Nasdaq: BBCP) will host a conference call on January 23, 2023, at 5:00 p.m. ET to discuss its financial results for the fourth quarter and fiscal year ending October 31, 2022. CEO Bruce Young and CFO Iain Humphries will present, followed by Q&A. A press release with earnings details will precede the call. The company provides leading concrete pumping and waste management services in the U.S. and U.K. through brands like Brundage-Bone, Camfaud, and Eco-Pan. Investors can access the live call or replay via their website.
Concrete Pumping Holdings reported a remarkable 29.4% revenue growth in Q3 FY2022, reaching $104.5 million, up from $80.8 million in the previous year. Gross profit increased 16.4% to $43.3 million, while net income surged to $14.1 million, or $0.24 per diluted share. Adjusted EBITDA rose 14.7% to $32.6 million. The company also raised its full-year revenue outlook to $380.0 million to $390.0 million. Despite inflationary pressures, particularly in diesel fuel, management remains optimistic about future growth.