Concrete Pumping Holdings reported financial results for the third quarter ended July 31, 2025.
Revenue decreased from $109.6 million to $103.7 million compared to the third quarter of fiscal year 2024.
Net income declined from $7.6 million to $3.7 million in the same period.
Revenue Decrease
Revenue decreased by 5.5% from the third quarter of fiscal year 2024.
Net Income Decline
Net income dropped by 51.3% from the prior year quarter.
Adjusted EBITDA Margin
Adjusted EBITDA margin decreased to 25.8% from 28.8% in the prior year quarter.
Debt Details
Debt outstanding was $425.0 million with net debt of $384.0 million.
Segment Results
U.S. Concrete Pumping revenue declined to $69.3 million from $75.2 million in the previous year quarter.
- The decrease in revenue was mainly due to deferrals in commercial construction demand and softness in residential demand.
- Gross margin declined to 39.0% from 40.6% in the prior year quarter due to various market uncertainties.
- Management highlighted cost management, fleet optimization, and strategic pricing as key factors in navigating the challenging market conditions.
Despite the challenges in commercial and residential demand, Concrete Pumping Holdings showcased resilience through strategic cost management and diversification benefits in the waste management segment. The focus on generating healthy cash flow and maintaining flexibility positions them for improved performance in the future.