Concrete Pumping Holdings, Inc.

Second-quarter revenue increased 14% to $106.8 million from $94.0 million a year ago. Gross margin was 38.6% versus 38.5% last year, and adjusted EBITDA rose 17% to $26.4 million from $22.5 million, with adjusted EBITDA margin improving to 24.7% from 23.9%. Net income attributable to common shareholders was $2.1 million, or $0.04 per diluted share, versus a net loss of $0.4 million, or $0.01 per diluted share, in the prior-year quarter. For fiscal 2026, the company raised revenue guidance to $410 million to $425 million, adjusted EBITDA guidance to $98 million to $105 million, and free cash flow guidance to at least $45 million, up from prior targets of $390 million to $410 million, $90 million to $100 million, and about $40 million, respectively.

Bruce Young framed the quarter as evidence of the company’s operating model and scale advantage, emphasizing U.S. commercial and infrastructure momentum, price discipline, and strong execution. He highlighted data centers, public infrastructure, and Eco-Pan as key contributors, while saying the company is building a more diversified multiservice platform through acquisitions such as Templant and the Republic of Ireland expansion. His tone was constructive but measured, noting that residential and some light commercial segments remain weak and that the U.K. is still challenged.

Iain Humphries provided the key financial bridge: U.S. Concrete Pumping revenue rose 15% to $71.5 million, Eco-Pan revenue rose 13% to $20.3 million, and U.K. revenue rose 8% to $14.9 million, with $600,000 of foreign-currency benefit and $1.4 million from recent acquisitions. He said G&A increased to $29.2 million but improved to 27.3% of revenue from 29.7%, and he cited inflationary pressure from repair and maintenance, wear parts and tariffs. On liquidity and capital allocation, he noted $425.6 million of total debt, $386.9 million of net debt, about 3.8x net leverage, $346.3 million of available liquidity, and $2.6 million of share repurchases in the quarter; since 2022 the company has repurchased 5.9 million shares for $38.1 million, with $11.9 million remaining under authorization.

Analysts focused on how much of revenue now comes from data centers, and management said chip plant/data center work is about 10% to 12% of revenue today versus roughly 4% to 5% in the first half of last year. On margins, management said the improvement reflects better fleet utilization, specialty/remote project pricing, and operational discipline rather than data centers alone. Another question addressed Templant and the $22 million of planned investments that can be pulled forward from 2027; Bruce Young said the company does not disclose the acquisition multiple, sees Templant as a way to expand temporary power in the U.K., and is still working out whether the equipment spending falls in 2026 or 2027.