Concrete Pumping Holdings Reports 2025 Declines, Guides 2026 Lower, Pulls Forward $22 Million Capex

Overview

• Full-year 2025 results fell year over year to revenue of $392.9 million, net income of $6.4 million, and Adjusted EBITDA of $97.0 million.
• Fourth-quarter 2025 revenue slipped to $108.8 million with net income of $5.3 million and Adjusted EBITDA of $30.7 million versus the prior-year quarter.
• The U.S. concrete pumping segment posted a $1.9 million net loss on lower volumes, while Eco-Pan waste-management revenue rose 6% to $75.4 million and U.K. revenue declined 13% excluding currency effects.
• Fiscal 2026 guidance calls for revenue of $390–$410 million, Adjusted EBITDA of $90–$100 million, and at least $40 million in free cash flow, assuming no meaningful market recovery.
• The company ended October with $425.0 million of debt, $380.6 million in net debt, $359.5 million of liquidity, and a 3.9x leverage ratio, and it will accelerate about $22 million of equipment purchases into 2026 ahead of 2027 heavy-duty engine emissions rules.