Concrete Pumping Hldgs Inc Stock Price, News & Analysis

Concrete Pumping Holdings (Nasdaq: BBCP) has successfully acquired Pioneer Concrete Pumping Service, Inc. for $20.1 million in cash. This strategic acquisition enhances CPH's footprint in the Georgia and Texas markets, increasing operational capacity with 83 units of equipment. The merger aims to provide expanded services to customers and access to CPH's Eco-Pan waste management solutions. CEO Bruce Young expressed confidence in leveraging this acquisition for continued growth in these key regions.

Concrete Pumping Holdings reported Q3 FY2021 results, showing a 5% revenue increase to $80.8 million compared to Q3 FY2020. Net income attributable to common shareholders improved to $4.1 million or $0.07 per diluted share, reversing a net loss in the prior year. Adjusted EBITDA was $28.4 million, with a margin of 35.2%. The company managed inflationary pressures despite operational challenges, including above-average precipitation in key markets. Total available liquidity increased to $142.2 million.

Concrete Pumping Holdings has successfully acquired Hi-Tech Concrete Pumping Services for $12.3 million in cash. This strategic move enhances Concrete Pumping Holdings' market presence in Houston, Texas, allowing for increased service offerings and an expanded fleet availability. The acquisition also facilitates the introduction of Eco-Pan concrete waste management services to Hi-Tech's customers. CEO Bruce Young highlighted the opportunity to grow in one of the nation's fastest-growing cities and emphasized the shared values of safety and reliability between the two companies.

Concrete Pumping Holdings (NASDAQ: BBCP) will participate in two virtual financial conferences in September 2021. The first is the 10th Annual Gateway Conference on September 9 at 11:30 a.m. Pacific time, with a webcast available here. The second event is the D.A. Davidson 20th Annual Diversified Industrials & Services Conference on September 23, featuring one-on-one meetings. The Company, a leader in concrete pumping and waste management services, operates nationally recognized brands in the U.S. and U.K., with approximately 90 and 30 locations respectively.

Concrete Pumping Holdings will host a conference call on September 8, 2021, at 5:00 p.m. Eastern Time to discuss its financial results for Q3 FY2021, ending July 31, 2021. CEO Bruce Young and CFO Iain Humphries will lead the call, which will include a Q&A session. Interested parties can join the call via toll-free and international numbers or listen via the company's investor relations website. A replay will be available after 8:00 p.m. Eastern on the same day through September 29, 2021.

Concrete Pumping Holdings reported a 4% increase in revenue to $76.9 million for Q2 FY2021, compared to $74.0 million in Q2 FY2020. Gross margin rose to 43.3% from 43.0%. The net loss narrowed significantly to $11.4 million or $(0.21) per diluted share, improving from a loss of $56.2 million or $(1.06) per share in the prior year. Adjusted EBITDA grew by 7% to $25.0 million, with a margin of 32.6%. The company anticipates FY2021 revenue between $300 million and $310 million.

Concrete Pumping Holdings reported preliminary Q2 results for fiscal 2021, showing a 4% increase in revenue to $76.9 million from $74.0 million in Q2 FY 2020. The gross margin rose to 43.3%, a 30 basis point increase, while adjusted EBITDA grew by 7% to $25.0 million with an adjusted EBITDA margin of 32.6%. Total liquidity expanded to $134.9 million. The company rescheduled its earnings call to address warrant accounting following SEC guidance, with no expected impact on preliminary results.

Concrete Pumping Holdings (Nasdaq: BBCP) will participate in three virtual financial conferences in June 2021. The events include the William Blair 41st Annual Growth Stock Virtual Conference on June 1, UBS Global Industrials and Transportation Virtual Conference on June 8, and Stifel 2021 Virtual Cross Sector Insight Conference on June 9. The company provides concrete pumping and waste management services across the U.S. and U.K., operating under established brands like Brundage-Bone, Camfaud, and Eco-Pan. These presentations aim to enhance investor engagement and market awareness.

Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) will hold a conference call on June 7, 2021, at 5:00 p.m. Eastern Time to discuss its Q2 fiscal results for 2021, ending April 30, 2021. The call will be led by CEO Bruce Young and CFO Iain Humphries, preceded by a press release detailing financial outcomes. The company is a leader in concrete pumping and waste management in the U.S. and U.K., operating under established brands. A replay of the call will be available until June 28, 2021.