Concrete Pumping Q3 Revenue Beats, Raises FY Outlook on Data-Center Demand
BBCP sits 94% above its 52-week low of $5.555.
Summary
Concrete Pumping Holdings reported fiscal Q3 revenue of $116.77M, up 13% year-over-year and beating the $110.19M consensus. Adjusted EBITDA rose 13% to $30.4M. The company raised its full-year revenue outlook to $425M-$435M from $410M-$425M, lifted adjusted EBITDA guidance to $103M-$108M from $98M-$105M, and now expects about $50M in free cash flow, up from $45M. It also initiated a quarterly cash dividend of $0.13 per share, totaling $0.52 over the next four quarters, a 5.6% initial yield based on recent stock price. Growth was driven by commercial and infrastructure demand, especially data centers, and Eco-Pan waste management gains, partially offset by weak residential and UK markets. This follows a $300M shelf registration filed in July and recent insider selling by directors and the CFO, with a market cap around $456M.
At the time of this announcement, BBCP was trading at $10.80 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $456.1M. The 52-week trading range was $5.56 to $12.19. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.