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Concrete Pumping Holdings (BBCP)
NASDAQ:BBCP
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Concrete Pumping Holdings
(NASDAQ:BBCP)
66Neutral
Positive Factors
Negative Factors
Financial Performance
Revenue of $109.6M declined 9.2% YOY and was 13% below consensus.
Market Conditions
A general slowdown in commercial construction due to interest rate sensitivity is cited as a headwind for US & UK Pumping.
Market Guidance
Guidance was sharply lowered, with F4Q24's revenue expected below consensus.
Concrete Pumping Holdings (BBCP) vs. S&P 500 (SPY)
Market Cap
$320.43M
Dividend YieldN/A
Average Volume (3M)218.85K
Price to Earnings (P/E)20.9
Beta (1Y)1.15
Revenue Growth-7.12%
EPS Growth-19.18%
CountryUS
Employees1,590
SectorIndustrials
Sector Strength66
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.29
Shares Outstanding53,050,945
10 Day Avg. Volume209,995
30 Day Avg. Volume218,848
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.70
Price to Cash Flow (P/CF)3.30
P/FCF Ratio4.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$6.50Price Target Upside7.62% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Concrete Pumping Holdings Business Overview & Revenue Model
Company DescriptionConcrete Pumping Holdings (BBCP) is a leading provider of concrete pumping services in the United States and the United Kingdom. The company operates through its two main segments: U.S. Concrete Pumping and U.K. Concrete Pumping. Through these segments, Concrete Pumping Holdings offers a comprehensive fleet of specialized equipment and expert operators, servicing construction projects in commercial, infrastructure, and residential sectors. The company is known for its extensive reach and ability to handle large-scale projects with efficiency and precision.
How the Company Makes MoneyConcrete Pumping Holdings primarily generates revenue through the provision of concrete pumping services. The company owns and operates a fleet of specialized concrete pumping vehicles and equipment, which are rented out to construction companies for use in various projects, such as building construction and infrastructure development. Revenue is earned through service contracts with construction firms, which are charged based on the duration of equipment usage, the complexity of the job, and the volume of concrete pumped. Additionally, the company may generate income through the sale of parts and maintenance services for concrete pumping equipment. Partnerships with construction firms and strategic acquisitions also contribute to expanding their service capabilities and market reach, further enhancing their revenue streams.
Concrete Pumping Holdings Financial Statement Overview
Summary
Concrete Pumping Holdings demonstrates solid financial health with strong cash flow and low leverage, supporting stability. While profitability is moderate, the company shows operational efficiency and a sound capital structure, with potential for improvement in revenue growth.Income Statement
The income statement shows moderate profitability with a gross profit margin of approximately 39.5% TTM, and a net profit margin of about 4.2% TTM. Revenue has been relatively stable, although there was a slight decline in the most recent period. EBITDA margin is strong at approximately 22.9% TTM, indicating good operating efficiency.70
Positive
Balance Sheet
The balance sheet reflects a healthy equity position with a debt-to-equity ratio of 0.10 TTM, showcasing low leverage. The equity ratio stands at 28.6%, indicating a solid capital structure. However, the return on equity at 6.7% TTM suggests moderate profitability on equity.65
Positive
Cash Flow
Cash flow analysis reveals robust operational cash flow with a high operating cash flow to net income ratio of approximately 4.18 TTM, indicating strong cash generation relative to earnings. Free cash flow is positive, and there is a notable improvement in free cash flow growth, enhancing liquidity.75
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 414.61M | 425.87M | 442.24M | 401.29M | 315.81M | 304.30M | Gross Profit |
| 163.75M | 165.83M | 178.30M | 163.61M | 137.73M | 137.30M | EBIT |
| 51.38M | 49.35M | 61.45M | 50.11M | 38.05M | -31.73M | EBITDA |
| 107.23M | 107.30M | 132.85M | 121.45M | 94.26M | 29.84M | Net Income Common Stockholders |
| 17.39M | 16.21M | 31.79M | 28.68M | -15.07M | -61.25M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 3.25M | 43.04M | 15.86M | 7.48M | 9.30M | 6.74M | Total Assets |
| 0.00 | 897.99M | 904.52M | 887.49M | 792.66M | 773.76M | Total Debt |
| 0.00 | 399.81M | 416.19M | 447.87M | 370.45M | 367.01M | Net Debt |
| 3.25M | 356.77M | 400.33M | 440.39M | 361.16M | 360.28M | Total Liabilities |
| 0.00 | 576.27M | 596.28M | 608.16M | 530.09M | 506.65M | Stockholders Equity |
| 37.10M | 321.71M | 308.24M | 279.33M | 262.57M | 267.11M |
| Cash Flow | Free Cash Flow | ||||
| 40.75M | 43.09M | 41.57M | -26.69M | 12.29M | 39.63M | Operating Cash Flow |
| 72.63M | 86.90M | 96.88M | 76.69M | 75.83M | 78.97M | Investing Cash Flow |
| -19.50M | -32.13M | -44.16M | -124.12M | -56.56M | -35.85M | Financing Cash Flow |
| 16.83M | -28.77M | -44.30M | 45.98M | -15.95M | -43.93M |
Concrete Pumping Holdings Technical Analysis
Positive
6.04
Price Trends
6.05
Negative
6.44
Negative
5.86
Positive
Market Momentum
0.03
Negative
53.64
Neutral
67.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BBCP, the sentiment is Positive. The current price of 6.04 is above the 20-day moving average (MA) of 5.66, below the 50-day MA of 6.05, and above the 200-day MA of 5.86, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 53.64 is Neutral, neither overbought nor oversold. The STOCH value of 67.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BBCP.
Concrete Pumping Holdings Risk Analysis
Concrete Pumping Holdings disclosed 38 risk factors in its most recent earnings report. Concrete Pumping Holdings reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Concrete Pumping Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $320.43M | 20.94 | 5.57% | ― | -7.12% | -19.18% | |
63 Neutral | $232.62M | ― | -1.21% | ― | 11.89% | 84.04% | |
63 Neutral | $4.14B | 11.23 | 5.47% | 215.40% | 4.10% | -8.63% | |
58 Neutral | $373.07M | 153.13 | 1.34% | ― | 23.19% | ― | |
48 Neutral | $295.67M | ― | -20.38% | ― | -7.47% | -74.28% | |
43 Neutral | $171.14M | ― | -50.99% | ― | -15.53% | -427.61% | |
40 Underperform | $84.88M | ― | 17.11% | ― | -22.20% | 34.30% |
* Industrials Sector Average
Performance Comparison
BBCP
Concrete Pumping Holdings
6.16
0.31
5.30%
MTRX
Matrix Service Company
11.11
-0.66
-5.61%
ORN
Orion Group Holdings
6.12
-1.22
-16.62%
VATE
INNOVATE Corp
6.39
0.79
14.11%
BWMN
Bowman Consulting Group
22.41
-9.68
-30.17%
SLND
Southland Holdings
3.25
-0.94
-22.43%
Concrete Pumping Holdings Earnings Call Summary
Earnings Call Date: Mar 11, 2025 | % Change Since: 0.00% | Next Earnings Date: Jun 16, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with strong free cash flow, improved gross margin, and strategic capital allocation on the positive side. However, there were significant challenges, including revenue declines due to weather impacts, challenges in commercial construction, and a net loss. The balance of positive and negative factors leads to a neutral sentiment.Highlights
Strong Free Cash Flow
The company generated robust free cash flow of approximately $60 million, which aligns with previous guidance and demonstrates consistent cash generation capabilities.
Improved Gross Margin
Gross margin increased by 200 basis points to 36.1% compared to 34.1% in the same year-ago quarter, driven by cost control initiatives and improved efficiencies.
Successful Debt Management and Liquidity Position
Net debt decreased by $33 million over the year, showing strong debt management. The company has approximately $410 million in liquidity, including cash and credit availability.
Resilient Residential and Infrastructure Markets
The residential end market remained resilient at 33% of total revenue, and infrastructure markets showed slight year-over-year growth.
Strategic Capital Allocation
The company issued a special dividend of $1 per share and repurchased approximately 296,000 shares for $1.9 million, reflecting a strategic approach to capital allocation.
Lowlights
Revenue Decline
Revenue decreased to $86.4 million from $97.7 million in the same year-ago quarter, primarily due to declines in the U.S. Concrete Pumping segment.
Weather Impact
Severe weather conditions reduced revenue by approximately $5 million, with historic freezing temperatures and wet weather affecting performance, particularly in the U.S. Central Mountain and Southeastern regions.
Challenges in Commercial Construction
Volume-driven declines in the U.S. Concrete Pumping segment were influenced by softness in commercial construction, exacerbated by higher interest rates and economic uncertainty.
Net Loss
The company reported a net loss of $3.1 million or $0.06 per diluted share, an improvement from a net loss of $4.3 million or $0.08 per diluted share in the prior year quarter, but still a negative result.
Reduced Guidance
The company adjusted its fiscal year 2025 revenue guidance to between $400 million and $420 million, down from previous expectations, reflecting broader market challenges.
Company Guidance
During the conference call discussing Concrete Pumping Holdings' financial results for the first quarter of fiscal year 2025, the company provided updated guidance for the full year. They now expect fiscal year revenue to range between $400 million and $420 million, with adjusted EBITDA projected between $105 million and $115 million. The company anticipates generating approximately $60 million in free cash flow, despite facing challenges such as severe weather impacts and a slowdown in commercial construction. The company's adjusted EBITDA margin remained stable at 19.7%, thanks to effective cost control measures. Additionally, Concrete Pumping Holdings reported a net debt of $340 million and a leverage ratio of 3.1 times at the end of the quarter. The company highlighted their strategic focus on optimizing equipment utilization, controlling capital expenditures, and maintaining a strong balance sheet to support future growth opportunities, including potential M&A activities.Concrete Pumping Holdings Corporate Events
Private Placements and FinancingDividendsBusiness Operations and Strategy
Concrete Pumping Holdings Completes $425M Note Offering
Positive
Feb 3, 2025
On February 3, 2025, Concrete Pumping Holdings, Inc. announced the successful completion of a private offering of $425 million in senior secured second lien notes due 2032, intended to refinance existing debt and support a special one-time dividend of $1.00 per share. This strategic financial move underscores the company’s solid operating performance and commitment to shareholder value while maintaining liquidity for future growth.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.