Concrete Pumping Holdings reported its financial results for the fourth quarter and fiscal year ended October 31, 2024. For the fourth quarter, revenue was $111.5 million, a decrease from $120.2 million in the prior year quarter, primarily due to volume declines in the U.S. Concrete Pumping segment. Net income for the quarter was $9.4 million, unchanged from the prior year, with diluted earnings per share at $0.16.
For the full fiscal year 2024, total revenue was $425.9 million, down from $442.2 million in fiscal year 2023, attributed to a slowdown in commercial construction, high interest rates, and an oversaturation of concrete pumps. Net income attributable to common shareholders for the year was $14.5 million, or $0.26 per diluted share, compared to $30.0 million, or $0.54 per diluted share, in fiscal year 2023.
The U.S. Concrete Waste Management Services segment demonstrated strong performance, with revenue increasing 11% to $19.8 million in Q4 and 15% to $70.9 million for the full year 2024, driven by organic volume growth and pricing improvements. The company ended fiscal year 2024 with $378.0 million in total available liquidity and reduced net debt by $46.1 million to $332.0 million.
Looking ahead, Concrete Pumping Holdings provided its initial fiscal year 2025 outlook, expecting revenue to range between $425.0 million and $445.0 million. Adjusted EBITDA is projected to be between $115.0 million and $125.0 million, with free cash flow anticipated to be at least $65.0 million. This guidance reflects the company's expectations for market conditions and operational performance in the upcoming fiscal year.
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