Concrete Pumping Hldgs Inc Stock Price, News & Analysis

Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) will host a conference call on March 11, 2021, at 5:00 p.m. Eastern time to discuss its first-quarter fiscal results for the period ending January 31, 2021. The call will feature insights from CEO Bruce Young and CFO Iain Humphries, followed by a Q&A session. A press release detailing financial results will precede the call. Investors can access the live broadcast or replay via the company’s website. The company operates under well-known brands in the U.S. and U.K., providing essential concrete pumping and waste management services.

Concrete Pumping Holdings (Nasdaq: BBCP) has closed a private offering of $375 million in senior secured second lien notes due 2026 at a fixed interest rate of 6.000%. Proceeds will be used to repay existing term loan debt and related costs. Additionally, the company has amended its ABL Facility, increasing commitments from $60 million to $125 million. CEO Bruce Young noted that these moves enhance liquidity and reduce debt costs, allowing for strategic investment opportunities and support for long-term growth. The notes will not be registered under the Securities Act.

Concrete Pumping Holdings has priced a private offering of $375 million in senior secured second lien notes due 2026, increasing from an initial $350 million. The notes carry a 6% annual interest rate and are expected to close on January 28, 2021. Proceeds, along with $15 million from its credit facility, will be used to repay existing term loan debts. This offering will be made to qualified institutional buyers and will not be registered under the Securities Act. Concrete Pumping is a leading provider in the concrete pumping sector, operating primarily under established national brands.

Concrete Pumping Holdings (Nasdaq: BBCP) announced plans to offer $350 million in senior secured second lien notes due 2026 via its subsidiary, Brundage-Bone Concrete Pumping Holdings. The company also intends to amend its ABL credit agreement to provide $125 million in commitments. Proceeds will be used to repay existing term loan indebtedness, amounting to $39.4 million from the ABL Facility. The offer is limited to qualified institutional buyers, with no registration under the Securities Act, thereby emphasizing its private placement nature.

Concrete Pumping Holdings reported a 2020 revenue increase of 8% to $304 million, despite a decline in Q4 revenue owing to COVID-19 impacts. Adjusted EBITDA rose 12% to $107.3 million for the year. The company ended with a net loss of $62.9 million or $(1.19 per diluted share), a significant increase from the previous year's losses. However, net debt was reduced by $42 million, leading to greater liquidity of $59.3 million. For 2021, the company expects revenue between $300 million - $310 million and adjusted EBITDA of $105 million - $110 million.

Concrete Pumping Holdings (Nasdaq: BBCP) will hold a conference call on January 12, 2021, at 5:00 p.m. Eastern time to discuss its financial results for the fourth quarter and fiscal year ended October 31, 2020. CEO Bruce Young and CFO Iain Humphries will lead the call, followed by a Q&A session. Interested parties can join via toll-free and international dial-in numbers provided. A replay will be available until February 2, 2021. The Company operates under established brands in concrete pumping and waste management across the U.S. and U.K.

Concrete Pumping Holdings (Nasdaq: BBCP) will hold a conference call on September 9, 2020, at 5:00 p.m. Eastern time to discuss its third-quarter financial results for the period ending July 31, 2020. CEO Bruce Young and CFO Iain Humphries will lead the call, with a question and answer session following. Investors can join via toll-free numbers and access a replay after the call. The company is a leading provider of concrete pumping and waste management services in the U.S. and U.K., operating under brands like Brundage-Bone and EcoPan.

Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) reported a 19% revenue increase to $74.0 million in Q2 FY 2020, driven by strong market performance despite COVID-19 impacts. Gross margin rose by 370 basis points to 43.0%. However, net loss surged to $59.4 million, influenced by a $57.9 million goodwill impairment. Adjusted EBITDA improved by 29% to $23.5 million, with significant growth in U.S. segments. The company improved liquidity to $33 million and reduced net debt by $20 million. Outlook remains cautious amid ongoing pandemic challenges.

Concrete Pumping Holdings (BBCP) is participating in two virtual financial conferences in June 2020. The Stifel 2020 Virtual Cross Sector Insight Conference will occur on June 10 at 12:40 p.m. ET, followed by the William Blair 2020 Virtual Growth Stock Conference on June 11 at 11:40 a.m. ET. CPH serves U.S. and U.K. markets, utilizing national brands like Brundage-Bone for pumping services and EcoPan for waste management. As of January 31, 2020, the company operates from 90 U.S. locations across 22 states and 28 locations in the U.K.