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What To Expect From Concrete Pumping’s (BBCP) Q2 Earnings

BBCP Cover Image

Concrete and waste management company Concrete Pumping (NASDAQ: BBCP) will be reporting earnings this Thursday afternoon. Here’s what investors should know.

Concrete Pumping missed analysts’ revenue expectations by 4% last quarter, reporting revenues of $93.96 million, down 12.2% year on year. It was a disappointing quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and full-year EBITDA guidance missing analysts’ expectations significantly.

Is Concrete Pumping a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Concrete Pumping’s revenue to decline 8.5% year on year to $100.3 million, in line with the 9.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.06 per share.

Concrete Pumping Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Concrete Pumping has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Concrete Pumping’s peers in the construction and maintenance services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Primoris delivered year-on-year revenue growth of 20.9%, beating analysts’ expectations by 12.1%, and Comfort Systems reported revenues up 20.1%, topping estimates by 10.6%. Primoris traded up 16.7% following the results while Comfort Systems was also up 22.3%.

Read our full analysis of Primoris’s results here and Comfort Systems’s results here.

There has been positive sentiment among investors in the construction and maintenance services segment, with share prices up 4.6% on average over the last month. Concrete Pumping’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $7 (compared to the current share price of $6.77).

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