Concrete Pumping Q3 Earnings Call Highlights

Concrete Pumping NASDAQ: BBCP reported higher third-quarter revenue and adjusted EBITDA as demand for large commercial and infrastructure projects, including data centers, continued to support its U.S. operations. The company also raised its fiscal 2026 outlook and announced a regular quarterly cash dividend. For the quarter ended July 31, 2026, revenue rose 13% year over year to $116.8 million. Net income attributable to common shareholders increased to $4.5 million, or $0.09 per diluted share, from $3.3 million, or $0.07 per diluted share, a year earlier. Adjusted EBITDA increased 13% to $30.4 million, while adjusted EBITDA margin improved to 26%. U.S. Commercial and Infrastructure Work Drives Growth Chief Executive Officer Bruce Young said the quarter was led by large-scale commercial and infrastructure construction activity. Data centers remained the primary growth driver, while education, utilities, energy and other infrastructure-related projects also contributed to demand. “These larger, more complex projects continue to support healthy fleet utilization across both our Brundage-Bone and Eco-Pan businesses,” Young said, pointing to the company’s national footprint, operating scale and technical expertise. U.S. Concrete Pumping segment revenue increased 10% to $76.2 million from $69.3 million in the prior-year period. Segment adjusted EBITDA rose 18% to $18.4 million. The company cited strong commercial and infrastructure activity, pricing improvement and mostly stable weather in U.S. markets. Management said light commercial construction remained under pressure from elevated interest rates and economic uncertainty, while residential activity continued to be subdued amid affordability challenges. Eco-Pan Concrete Waste Management Services revenue grew 14% to $21.9 million. The business benefited from organic volume growth, higher pricing and expansion with new customer accounts. Eco-Pan adjusted EBITDA increased 19% to $8.8 million. U.K. Revenue Rises, Though Demand Remains Uneven Revenue from U.K. operations increased 24% to $18.7 million, primarily reflecting the contribution of the Templant temporary power acquisition. Young said Templant is performing in line with the company’s strategy to create a more diversified service platform for construction and infrastructure markets. Underlying U.K. commercial construction conditions remained softer than in the U.S., with inflation, interest rates and slower commercial activity weighing on demand. Still, management said it saw improving commercial activity in July and August. During the question-and-answer session, Chief Financial Officer Iain Humphries said U.K. margins were affected by reduced labor efficiency as demand weakened. Young added that U.K. labor is less variable than in the U.S., requiring the company to retain and pay its workforce through periods of lower activity.