Concrete Pumping Holdings reported fourth quarter revenue of $108.8 million, down from $111.5 million a year earlier, driven by continued softness in residential and commercial construction demand due to high interest rates and project deferrals. Gross profit declined to $43.3 million from $46.2 million, compressing gross margin by 170 basis points to 39.8%. Operating income fell to $16.9 million versus $19.2 million, and net income attributable to common shareholders was $4.9 million, or $0.09 per diluted share, compared with $9.0 million, or $0.16 per diluted share, in the prior-year quarter. Adjusted EBITDA decreased to $30.7 million with a margin of 28.2%, down from $33.7 million and 30.2%, respectively. The company ended the quarter with net debt of $380.6 million and total available liquidity of $359.5 million, resulting in a leverage ratio of 3.9x.

For fiscal 2025, Concrete Pumping Holdings generated revenue of $392.9 million, a 7.8% decline from $425.9 million in fiscal 2024, as weather disruptions and lower construction volumes weighed on top-line growth. Gross profit decreased to $151.1 million, and operating income came in at $41.5 million, down from $49.3 million. Net income attributable to common shareholders was $4.6 million, or $0.09 per diluted share, compared to $14.5 million, or $0.26 per diluted share, in the prior year. Adjusted EBITDA amounted to $97.0 million with a 24.7% margin, versus $112.1 million and 26.3%, respectively, in fiscal 2024. General and administrative expenses declined by $6.9 million year-over-year, reflecting ongoing cost discipline.

In the U.S. concrete pumping segment, revenue fell to $72.2 million in Q4 and to $260.5 million for the full year, contributing to a Q4 net income of $1.1 million and a full-year net loss of $1.9 million. The waste management business delivered resilience, with Q4 revenue up 8% to $21.3 million and fiscal 2025 revenue up 6% to $75.4 million, supporting segment adjusted EBITDA growth to $9.1 million in Q4 and $28.1 million for the year. U.K. operations faced a 13% volume decline on a constant currency basis, with Q4 revenue of $15.3 million and full-year revenue of $57.0 million, generating fiscal 2025 adjusted EBITDA of $14.0 million.

Management projects fiscal 2026 revenue between $390.0 million and $410.0 million and adjusted EBITDA of $90.0 million to $100.0 million, with free cash flow expected to exceed $40.0 million. These targets assume construction market conditions will remain subdued. The company plans to maintain its focus on fleet efficiency, cost management, and strategic capital deployment—such as selective share repurchases and bolt-on acquisitions—to drive value creation as industry demand stabilizes.