Q2 2025 Concrete Pumping Holdings Inc Earnings Call Transcript
Key Points
- Concrete Pumping Holdings Inc (BBCP) demonstrated strong cost control initiatives, which helped limit the impact on margins despite revenue declines.
- The company's infrastructure end markets continue to grow, with robust performance expected in fiscal year 2025 due to favorable funding environments in both the US and UK.
- The US Concrete Waste Management Services segment saw a 7% increase in revenue, driven by increased Pan pickup volumes and sustained improvement in pricing.
- Concrete Pumping Holdings Inc (BBCP) has a strong liquidity position with approximately $353 million of available liquidity at the end of April 2025.
- The company has an ongoing share buyback program, with an additional $15 million authorized, demonstrating confidence in its long-term strategic growth plan.
- Revenue for the second quarter decreased to $94 million from $107.1 million in the prior year, primarily due to declines in the US Concrete Pumping segment.
- The company experienced volume-driven declines in its US Pumping segment, affected by macroeconomic headwinds and adverse weather conditions.
- Net loss available to common shareholders was $400,000, compared to net income of $2.6 million in the prior year quarter.
- Adjusted EBITDA for the second quarter declined to $22.5 million from $27.5 million in the same year-ago quarter.
- The company adjusted its financial outlook for fiscal 2025, not expecting a meaningful market rebound within the current fiscal year due to persistent high interest rates and tariff uncertainties.
Good afternoon, everyone, and thank you for participating in today's conference call to discuss Concrete Pumping Holdings' financial results for the second quarter ended April 30, 2025. Joining us today are Concrete Pumping Holdings' CEO, Bruce Young; CFO, Iain Humphries; and the company's External Director of Investor Relations, Cody Slach.
Before we go further, I would like to turn the call over to Mr. Slach to read the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements.
Cody, please go ahead.
Thank you. I'd like to remind everyone that in the course of this call, to give you a better understanding of our operations, we will be making certain forward-looking statements regarding our business and outlook. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from such statements.
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