CPH Q2 2024 Earnings Report
Key Takeaways
Concrete Pumping Holdings reported a slight decrease in revenue to $107.1 million, with growth in the U.S. Concrete Waste Management segment offsetting a decline in the U.S. Concrete Pumping segment. Net income decreased to $3.0 million, and Adjusted EBITDA also declined to $27.5 million.
Total revenue was $107.1 million, slightly down from $107.8 million in the prior year.
U.S. Concrete Pumping revenue decreased by 5% due to a slowdown in commercial construction and weather impacts.
U.S. Concrete Waste Management Services revenue increased by 19% due to organic growth and pricing improvements.
Net income decreased to $3.0 million from $5.6 million in the prior year.
CPH
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CPH Revenue by Segment
Forward Guidance
The Company expects fiscal year 2024 revenue to range between $455.0 million to $465.0 million and Adjusted EBITDA to range between $120.0 million to $125.0 million. The Company is maintaining its outlook for free cash flow of at least $75.0 million. The Company's leverage ratio as of October 31, 2024 is expected to be approximately 2.75x.
Revenue & Expenses
Visualization of income flow from segment revenue to net income