Concrete Pumping reports Q1 EPS (8c), consensus 5c

Reports Q1 revenue $97.7M, consensus $98.08M. “In our first quarter, continued double-digit growth in our Concrete Waste Management Services and U.K. operations segments was roughly offset by severe winter weather that impacted our U.S. market,” said CPH CEO Bruce Young. “Specifically, heavy rainfall, snow and freezing temperatures in the month of January brought many of our customers’ projects to a standstill. In fact, we estimate such weather events lowered the expected volume of our U.S. concrete pumping work by approximately 25% in January, or about $7.0 million. Work has recently returned to more normalized levels in February, and we are working closely with our customers to accommodate accelerated project schedules.”