Concrete Pumping Reports Strong Q3 Earnings and Raises Full-Year Outlook
Concrete Pumping (NASDAQ:BBCP) reported a strong third-quarter performance, with revenue rising 13% year over year to $116.8 million and adjusted EBITDA increasing by the same margin to $30.4 million. The growth was primarily driven by U.S. commercial and infrastructure projects, especially data centers, as well as gains in its Eco-Pan business. The company raised its full-year 2026 revenue guidance to between $425 million and $435 million, with adjusted EBITDA expected to range from $103 million to $108 million. Concrete Pumping also announced a quarterly dividend of $0.13 per share as net leverage declined to approximately 3.6 times adjusted EBITDA. U.S. operations saw revenue increase by 10% year over year, while the Eco-Pan segment grew its revenue by 14%. The U.K. business also showed improvement with a 24% rise in revenue due partly to an acquisition. However, management noted ongoing challenges from elevated interest rates and economic uncertainty affecting light commercial construction.
Topics: dividend_announcement ebitda_increase outlook_update revenue_growth