Concrete and waste management company Concrete Pumping (NASDAQ: BBCP) will be reporting earnings tomorrow after market close. Here’s what to expect.
Concrete Pumping missed analysts’ revenue expectations by 4.8% last quarter, reporting revenues of $86.45 million, down 11.5% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.
Is Concrete Pumping a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Concrete Pumping’s revenue to decline 8.5% year on year to $97.92 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.04 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Concrete Pumping has missed Wall Street’s revenue estimates four 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. Comfort Systems delivered year-on-year revenue growth of 19.1%, beating analysts’ expectations by 4.2%, and Great Lakes Dredge & Dock reported revenues up 22.3%, topping estimates by 17.5%. Comfort Systems traded up 5.6% following the results while Great Lakes Dredge & Dock was also up 3.5%.
Read our full analysis of Comfort Systems’s results here and Great Lakes Dredge & Dock’s results here.
There has been positive sentiment among investors in the construction and maintenance services segment, with share prices up 8.5% on average over the last month. Concrete Pumping is up 16.7% during the same time and is heading into earnings with an average analyst price target of $7.25 (compared to the current share price of $7.21).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
