CONCRETE PUMPING Starts $0.13 Dividend and Lifts FY26 Outlook
Q3 revenue rose 13% to $116.8 million, guidance was raised again, and the board approved a first-ever quarterly dividend yielding about 5.6%.
Concrete Pumping Holdings (BBCP) reported fiscal third-quarter revenue up 12.6% to $116.8 million from $103.7 million a year earlier, raised its full-year outlook for the second time, and announced the initiation of a quarterly cash dividend of $0.13 per share. The Denver-based provider of concrete pumping and concrete waste management services in the U.S. and U.K. closed the quarter on July 31, 2026.
Net income rose 33% to $4.9 million, with net income attributable to common shareholders of $4.5 million, or $0.09 per diluted share, against $3.3 million and $0.07 a year ago. Income from operations climbed 17% to $15.1 million and Adjusted EBITDA increased 13.3% to $30.4 million, lifting Adjusted EBITDA margin to 26.0% from 25.8%.
Gross profit rose 12.0% to $45.2 million, though gross margin slipped to 38.7% from 39.0% on fuel cost inflation. G&A rose to $30.1 million on higher stock-based compensation and professional fees plus costs from recent acquisitions, but fell to 25.8% of revenue from 26.5%.
The U.S. concrete pumping segment grew 9.9% to $76.2 million, driven by commercial and infrastructure demand strongly related to growing data center and infrastructure projects. U.S. waste management revenue rose 13.5% to $21.9 million, while U.K. operations were up 23.9% to $18.7 million, helped by a $3.1 million contribution from the Templant acquisition, although U.K. Adjusted EBITDA fell to $3.2 million from $3.9 million.
Management now guides fiscal 2026 revenue to $425.0 million to $435.0 million, up from $410.0 million to $425.0 million, Adjusted EBITDA to $103.0 million to $108.0 million from $98.0 million to $105.0 million, and free cash flow to about $50.0 million from $45.0 million. The outlook still assumes light commercial and residential construction do not meaningfully recover this year.
Debt outstanding stood at $425.0 million with net debt of $382.0 million and total liquidity of $357.3 million; the leverage ratio improved to 3.6x from 3.8x. The company has incurred $1.9 million of capital spending pulled forward ahead of stricter U.S. heavy-duty engine emissions rules taking effect January 1, 2027, and expects another $17.1 million in the fiscal fourth quarter.
The initial dividend is payable October 2, 2026 to holders of record on September 18, 2026, and totals $0.52 over the next four quarters, which the company said represents a 5.6% initial yield based on a recent share price. Separately, the board extended the existing share repurchase program from December 31, 2026 to November 30, 2028, with roughly $11.9 million remaining available.
CEO Bruce Young said demand for large-scale commercial and infrastructure projects, particularly data centers, remained healthy, while residential and light commercial construction and U.K. market conditions stayed subdued.
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