Concrete and waste management company Concrete Pumping (NASDAQ: BBCP) will be announcing earnings results this Thursday afternoon. Here’s what to expect.
Concrete Pumping beat analysts’ revenue expectations last quarter, reporting revenues of $90.56 million, up 4.8% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is Concrete Pumping a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Concrete Pumping’s revenue to grow 2.9% year on year, a reversal from the 12.2% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Concrete Pumping has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Concrete Pumping’s peers in the construction and maintenance services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Construction Partners delivered year-on-year revenue growth of 34.6%, beating analysts’ expectations by 12.6%, and Comfort Systems reported revenues up 56.5%, topping estimates by 19.5%. Construction Partners traded up 3.1% following the results while Comfort Systems was down 2.7%.
Read our full analysis of Construction Partners’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 6.2% 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 $8 (compared to the current share price of $7.85).
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