Concrete Pumping (BBCP) investor relations material

Executive summary

• Revenue grew 4.8–5% year-over-year to $90.6 million for Q1 FY2026, driven by U.S. commercial and data center demand, while U.K. operations declined due to economic uncertainty and weaker commercial demand.

• Adjusted EBITDA increased 6% to $18.0 million, reflecting operational efficiencies and strong U.S. segment performance.

• Net loss narrowed to $2.4 million–$2.9 million, with improved results in U.S. segments and a decline in U.K. profitability.

• Eco-Pan Waste Management Services delivered strong results, providing diversification and healthy demand.

• Management emphasized disciplined cost control, improved fleet efficiency, and strong free cash flow.

Financial highlights

• Revenue increased to $90.6 million from $86.4 million year-over-year.

• Gross margin declined to 35.3% from 36.1% due to higher insurance and maintenance costs.

• General and administrative expenses declined to $27.5 million, representing 30.3–30.4% of revenue.

• Net loss per share was $(0.06), unchanged year-over-year.

• Debt outstanding was $425 million, with net debt at $372 million and available liquidity of $350–$350.3 million.

Outlook and guidance

• FY2026 revenue expected between $390 million–$410 million; Adjusted EBITDA between $90 million–$100 million; free cash flow projected at least $40 million.

• Guidance assumes no meaningful construction market recovery in FY2026.

• $22 million in accelerated capital equipment investments planned for 2026 due to upcoming emissions regulations.

• Management expects sufficient liquidity for at least the next 12 months, with $53 million in cash and $297.3 million in available borrowing capacity.

• Capital allocation will focus on opportunistic M&A, share repurchases, and maintaining flexibility in capital expenditures.