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Jan 31, 2023
CPH Q1 2023 Earnings Report
Reported robust first quarter with double-digit revenue growth driving record results.
Key Takeaways
Concrete Pumping Holdings reported a strong first quarter of fiscal year 2023, marked by double-digit top and bottom-line growth and expansion in every segment. Revenue increased by 10% to $93.6 million, driven by organic growth and the acquisition of Coastal Carolina Pumping. Net income rose to $6.5 million, and Adjusted EBITDA increased by 7% to $25.0 million.
Revenue increased by 10% to $93.6 million compared to the first quarter of fiscal year 2022.
Net income increased to $6.5 million compared to $1.2 million.
U.S. Concrete Waste Management Services revenue increased 32% to $13.8 million.
The Company continues to expect fiscal year 2023 revenue to range between $420.0 million to $445.0 million.
Revenue by Segment
Forward Guidance
The Company continues to expect fiscal year 2023 revenue to range between $420.0 million to $445.0 million, Adjusted EBITDA to range between $125.0 million to $135.0 million, and free cash flow to range between $65.0 million and $75.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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