Concrete Pumping Starts $0.13 Quarterly Dividend
The concrete-pumping and waste-services company raised fiscal 2026 revenue guidance to $425.0 million to $435.0 million after a $116.8 million third quarter.
Concrete Pumping Holdings, Inc. (BBCP), a provider of concrete pumping and waste-management services in the U.S. and U.K., declared a first quarterly cash dividend of $0.13 a share after another year-over-year lift in sales and a second consecutive raise to its full-year outlook.
The board also extended the existing share-repurchase program to November 30, 2028, leaving about $11.9 million available as of July 31, 2026. The initial dividend is payable October 2, 2026, to holders of record on September 18, 2026, and the company currently intends to pay regular quarterly dividends.
Revenue in the third quarter ended July 31, 2026, was $116.8 million, up 12.6% from $103.7 million a year earlier, after 13.7% growth in the second quarter. Adjusted EBITDA rose 13.3% to $30.4 million from $26.8 million, with the margin at 26.0%, 20 basis points higher than a year earlier. Income from operations increased 17% to $15.1 million from $12.9 million. Net income was $4.9 million, or $0.09 a diluted share, compared with $3.7 million, or $0.07 a share.
Chief Executive Bruce Young said the quarter reflected continued momentum across U.S. operations, healthy demand for large-scale commercial and infrastructure projects, particularly data centers, and organic growth, pricing discipline and new customer wins at Eco-Pan. Residential and light-commercial construction remained challenged, and U.K. conditions were more subdued.
The sales increase was primarily attributable to higher commercial and infrastructure construction demand and pricing, strongly related to growing data-center and infrastructure projects, and more stable weather across U.S. regions. Gross profit rose 12.0% to $45.2 million. Gross margin slipped to 38.7% from 39.0%, primarily because of fuel-cost inflation. General and administrative expenses were $30.1 million, or 25.8% of revenue, down from 26.5% a year earlier.
U.S. Concrete Pumping revenue was $76.2 million, up 9.9%. Adjusted EBITDA in that segment rose 17.8% to $18.4 million. The revenue increase reflected commercial and infrastructure demand and pricing tied to data-center and infrastructure work and more stable weather, partially offset by a continued slowdown in light-commercial construction and subdued residential demand. Segment net income was $2.0 million.
U.S. Concrete Waste Management Services revenue was $21.9 million, up 13.5%, with Adjusted EBITDA of $8.8 million, up 19.2%. The increase was driven by organic volume growth from commercial project demand, including data-center activity and infrastructure, and pricing, with net income of $2.4 million.
U.K. Operations revenue was $18.7 million, up 23.9%, including a $3.1 million contribution from the Templant acquisition and slightly higher pumping volumes. Adjusted EBITDA in the U.K. was $3.2 million, down from $3.9 million a year earlier. Excluding foreign-currency translation, changes in net income and Adjusted EBITDA were primarily driven by fuel-cost inflation and higher repair and maintenance activity. Net income in the U.K. was $0.5 million.
The company now expects fiscal 2026 revenue of $425.0 million to $435.0 million, Adjusted EBITDA of $103.0 million to $108.0 million, and free cash flow of approximately $50.0 million. Those ranges sit above the prior outlook of $410.0 million to $425.0 million for revenue, $98.0 million to $105.0 million for Adjusted EBITDA, and $45.0 million for free cash flow. The expectations continue to assume light-commercial and residential construction will not meaningfully recover in fiscal 2026.
Because of stricter U.S. emissions laws expected to take effect January 1, 2027, the company had approved accelerating certain planned capital-equipment investments from calendar 2027 into calendar 2026. As of July 31, 2026, it had incurred $1.9 million of those accelerated 2027 expenditures and estimated another $17.1 million would be incurred in the fiscal 2026 fourth quarter.
Debt outstanding was $425.0 million and net debt was $382.0 million. Total available liquidity was $357.3 million. The leverage ratio improved to 3.6x from 3.8x at the prior quarter-end. Young said the dividend reflects confidence in the company’s ability to generate consistent cash flow while investing in operations, pursuing growth and reducing leverage over time.