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Apr 30, 2023
CPH Q2 2023 Earnings Report
Reported strong second quarter results driven by double-digit revenue growth, achieving a record second quarter.
Key Takeaways
Concrete Pumping Holdings reported a strong second quarter with a 12% increase in revenue to $107.8 million compared to the previous year. The growth was driven by strong performance across all segments, including a 26% increase in Eco-Pan revenue. Net income was $5.6 million, and Adjusted EBITDA increased by 7% to $28.8 million.
Revenue increased by 12% to $107.8 million, driven by organic growth and the acquisition of Coastal Carolina Pumping.
Eco-Pan experienced exceptional growth with a 26% increase in revenue.
Net income was $5.6 million, slightly lower than the prior year's $6.0 million.
Adjusted EBITDA increased by 7% to $28.8 million, although the adjusted EBITDA margin declined to 26.7%.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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