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Concrete Pumping Holdings: Concrete Pumping Holdings Delivers Mixed Q4 Results Amidst Challenging Market Conditions

Concrete Pumping Holdings reported Q4 revenue of $108.8 million, a slight decline from $111.5 million in the prior year quarter, primarily due to delays in commercial construction and softness in residential demand. The US Concrete Pumping segment revenue was $72.2 million, while the US concrete waste management services segment operating under Eco Pan increased 8% to $21.3 million. Gross margin declined 170 basis points to 39.8%, and net income available to common shareholders was $4.9 million or $0.09 per diluted share, with actual EPS coming in at $0.1031, beating estimates of $0.08.

BBCP

USD 7.39

-1.47%

A-Score: 5.0/10

Publication date: January 13, 2026

Full Report

Author: Analystock.ai

📋 Highlights
  • Q4 Revenue Decline: Revenue fell to $108.8M vs. $111.5M prior year due to commercial construction delays and residential demand softness.
  • Eco Pan Growth: US concrete waste management revenue rose 8% to $21.3M despite broader market challenges.
  • 2026 Guidance: Anticipates $390–$410M revenue and $90–$100M adjusted EBITDA, with $40M+ free cash flow.
  • Fleet Investment: $22M allocated in 2026 for US fleet upgrades to meet stricter NOx emission standards.
  • Share Repurchases: Repurchased 4.9M shares for $31.5M, leaving $18.5M in remaining authorization.

Segment Performance

The company's US concrete pumping business reported revenue of $72.2 million, while Eco Pan's revenue grew 8% to $21.3 million. The UK operations revenue declined to $15.3 million, primarily driven by volume weakness. The company's diversified revenue streams helped mitigate the impact of the decline in commercial construction.

Guidance and Outlook

The company expects revenue for fiscal 2026 to range between $390 million and $410 million and adjusted EBITDA to range between $90 million and $100 million. They anticipate free cash flow of at least $40 million. The company is accelerating a $22 million investment in its US concrete pumping and Eco Pan fleet in 2026, due to upcoming stricter NOx emission standards, which is expected to reduce replacement CapEx expenditures in 2027.

Valuation and Financial Health

With a P/E Ratio of 37.67 and EV/EBITDA of 7.93, the company's valuation appears to be reflecting its growth prospects. The company's Net Debt / EBITDA ratio stands at 4.07, indicating a relatively leveraged balance sheet. However, the company has a comfortable liquidity position to support its fleet investment. Analysts estimate next year's revenue growth at 7.4%, indicating a moderate growth trajectory.

Growth Drivers and Challenges

The company's Eco Pan segment is expected to achieve high single-digit to double-digit growth, driven by its expanding presence in new regions. The US concrete pumping business is expected to be resilient, driven by infrastructure projects and data centers. However, the commercial market in the UK remains a question mark, and the company is cautious about potential delays in office building and manufacturing projects.

Concrete Pumping Holdings's A-Score