Concrete Pumping Holdings reported second quarter fiscal year 2025 revenue of $94.0 million, a decrease from $107.1 million in the prior year quarter. This decline was primarily due to continued slowdowns in commercial construction, emerging challenges in residential work, high interest rates, and adverse weather events.
The company recorded a net loss attributable to common shareholders of $0.4 million, or $(0.01) per diluted share, compared to net income of $2.6 million, or $0.05 per diluted share, in the prior year quarter. Adjusted EBITDA for the second quarter was $22.5 million, down from $27.5 million year-over-year, with the Adjusted EBITDA margin at 23.9%.
The U.S. Concrete Waste Management Services segment continued its growth, with revenue increasing 7% to $18.1 million, driven by organic growth and pricing improvements. As of April 30, 2025, the company had $352.5 million in total available liquidity and $387.2 million in net debt.
Concrete Pumping Holdings further adjusted its fiscal year 2025 guidance downwards, now expecting revenue to range between $380.0 million and $390.0 million. Adjusted EBITDA is projected to be between $95.0 million and $100.0 million, with free cash flow estimated at approximately $45.0 million. These revised expectations assume no meaningful market recovery until fiscal year 2026.
In June 2025, the board of directors approved a $15.0 million increase to the company’s share repurchase program, bringing the total authorization to $50.0 million since inception. This action reflects management's commitment to driving shareholder value and confidence in the company's free cash flow generation, even amidst challenging market conditions.
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