Concrete Pumping Holdings reported fourth quarter revenue of $108.8 million, down from $111.5 million in the prior year. Gross profit declined to $43.3 million from $46.2 million, driving a 39.8% gross margin versus 41.5% a year earlier. Operating income fell to $16.9 million from $19.2 million, while net income amounted to $5.3 million compared with $9.4 million in Q4 2024. Adjusted EBITDA for the quarter was $30.7 million, with a margin of 28.2%, versus $33.7 million and 30.2% in the same period last year. Total debt outstanding reached $425.0 million, net debt was $380.6 million and available liquidity stood at $359.5 million at quarter end, resulting in a leverage ratio of 3.9x.

For the fiscal year ended October 31, 2025, Concrete Pumping Holdings generated revenue of $392.9 million, a decrease from $425.9 million in 2024. Annual gross profit totaled $151.1 million versus $165.8 million, producing a 38.5% gross margin compared with 38.9% the previous year. Income from operations was $41.5 million, down from $49.3 million, and net income was $6.4 million compared to $16.2 million in 2024. Full-year adjusted EBITDA stood at $97.0 million, with a 24.7% margin, against $112.1 million and 26.3% a year ago. Diluted earnings per share were $0.09, down from $0.26 in fiscal 2024.

U.S. Concrete Pumping revenue for Q4 was $72.2 million, down from $74.5 million, with adjusted EBITDA of $17.5 million versus $19.7 million in the prior year quarter. Full-year segment revenue declined to $260.5 million from $291.0 million, and segment adjusted EBITDA fell to $54.9 million from $69.1 million. U.S. Waste Management services posted Q4 revenue growth of 8% to $21.3 million and adjusted EBITDA of $9.1 million, a 3% increase. Full-year waste management revenue rose 6% to $75.4 million, with adjusted EBITDA up 7% to $28.1 million. U.K. operations saw Q4 revenue of $15.3 million, down from $17.1 million, and adjusted EBITDA of $4.1 million versus $5.2 million; full-year U.K. revenue declined to $57.0 million from $64.0 million, with adjusted EBITDA at $14.0 million compared to $16.8 million.

Management projects fiscal 2026 revenue between $390.0 million and $410.0 million, with adjusted EBITDA in the range of $90.0 million to $100.0 million and free cash flow of at least $40.0 million. These targets assume continued pressure on construction volumes. The company plans to maintain disciplined cost control, selectively deploy capital for share repurchases or acquisitions, and prepare the fleet for anticipated U.S. emissions regulations effective in January 2027. Available liquidity of $359.5 million at October 31, 2025, provides flexibility to support operations and strategic initiatives.