Concrete Pumping Holdings ( (BBCP) ) has released its Q4 earnings. Here is a breakdown of the information Concrete Pumping Holdings presented to its investors.
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Concrete Pumping Holdings (CPH) is a leading provider of concrete pumping and waste management services across the United States and the United Kingdom, known for its national brands Brundage-Bone and Eco-Pan.
In the fiscal year 2024, Concrete Pumping Holdings reported a slight decrease in revenue and net income compared to the previous year, amidst challenging conditions in the construction sector driven by high interest rates and increased vacancy rates in commercial buildings.
The company recorded a revenue of $425.9 million for the fiscal year 2024, down from $442.2 million in 2023. Net income attributable to common shareholders fell to $14.5 million from $30.0 million, while adjusted EBITDA decreased to $112.1 million from $124.6 million. Despite these declines, CPH improved its liquidity position significantly, with total available liquidity increasing to $378.0 million from $216.7 million.
Notably, CPH’s U.S. Concrete Waste Management segment displayed robust growth, with revenue increasing by 15% year-over-year, supported by organic volume growth and pricing improvements. This segment’s growth partially offset the declines in the U.S. Concrete Pumping segment, which faced volume-driven challenges.
Looking ahead, CPH is positioned to capitalize on potential market recovery, maintaining a flexible capital investment strategy and a strengthening balance sheet. The company projects revenue for fiscal year 2025 to range between $425.0 million to $445.0 million, with adjusted EBITDA expected between $115.0 million to $125.0 million.
