Concrete Pumping Holdings reported first quarter fiscal year 2025 revenue of $86.4 million, a decrease from $97.7 million in the prior year quarter. This decline was primarily due to reduced commercial construction volume and severe weather conditions in key U.S. market regions, partially offset by growth in the Concrete Waste Management Services segment.
The company posted a net loss of $2.6 million for the quarter, or $(0.06) per diluted share, compared to a net loss of $3.8 million, or $(0.08) per diluted share, in the prior year quarter. Adjusted EBITDA for the first quarter was $17.0 million, down from $19.3 million year-over-year, with the Adjusted EBITDA margin remaining unchanged at 19.7%.
The U.S. Concrete Waste Management Services segment continued its positive trend, with revenue increasing 7% to $16.7 million, driven by organic volume growth and pricing improvements. The company's liquidity remained strong, with $409.6 million in total available liquidity as of January 31, 2025, and net debt reduced by $33.4 million to $339.9 million compared to the prior year.
Concrete Pumping Holdings revised its fiscal year 2025 outlook, now expecting revenue to range between $400.0 million and $420.0 million, a reduction from previous guidance. Adjusted EBITDA is now projected to be between $105.0 million and $115.0 million, with free cash flow estimated at approximately $60.0 million. The company's board of directors also extended the expiration date of its existing share repurchase program from March 31, 2025, to December 31, 2026, with $15.1 million available for repurchase as of January 31, 2025.
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