Concrete Pumping Holdings (BBCP) Q3 2026 Earnings Report

The call was strongly positive overall. The company delivered 13% revenue and adjusted EBITDA growth, reported strong U.S. and Eco-Pan performance, reduced leverage, maintained substantial liquidity, initiated a regular dividend, and raised full-year revenue, adjusted EBITDA, and free cash flow guidance. These strengths outweighed pressure from soft residential and light commercial markets, challenging U.K. conditions, higher fuel costs, and modest gross margin pressure.

For fiscal 2026, management now expects revenue between $425 million and $435 million, compared to the prior range of $410 million to $425 million; adjusted EBITDA in a range of $103 million to $108 million, from the prior range of $98 million to $105 million; and free cash flow of approximately $50 million, from the prior expectation of at least $45 million. Replacement CapEx is expected to be about 5% of revenue, with probably like $2 million or $3 million in the fourth quarter; excluding the pull forward, next year’s replacement CapEx will be a low single digits, with the expectation for the U.S. Pumping business being low percentage single digits. Management remains committed to its near-term net leverage target of 3x, said it is not a stretch to turn leverage down by at least a half a turn in 12 months, and described around 18 months, barring anything extraordinary on the investment side, as a reasonable expectation.