Concrete Pumping Jumps 8% As Q4 Results Beat Estimates

Shares of Concrete Pumping Holdings, Inc. (BBCP) are rising more than 8% Tuesday morning after reporting better-than-expected fourth-quarter results.

Profit in the fourth quarter increased 170% to $8.1 million or $0.14 per share from $3 million or $0.05 per share a year ago. On average, 4 analyts polled by Thomson-Reuters expected the company to report earnings of $0.6 per share.

Revenue increased 31% to $114.9 million from $87.8 million last year helped by growth in all segments. The consensus estimate stood at $96.62 million.

Looking forward, the company expects full-year revenue to range between $420 million and $445 million. Analysts’ expectation is for $443.2 million.

BBCP is at $7.06 currently. It has traded in the range of $4.64-$8.26 in the last 1 year.

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