Concrete Pumping Holdings Shares Fall After Cutting Sales Outlook

Dow Jones

Jun 07

By Kelly Cloonan

Concrete Pumping Holdings' stock were lower Friday after the company cut its outlook for full-year sales as it expects the construction market will take longer to recover.

Shares were recently down 18% at $5.79. The stock has lost 23% of its value over the past 12 months.

The concrete-pumping services provider on Thursday lowered its revenue guidance for the full year to $380 million to $390 million from a prior range of $400 million to $420 million.

The updated outlook assumes the construction market will not start to meaningfully recover until fiscal 2026, the company said.

For the fiscal second quarter, the company posted a loss of $4,000 compared with a profit of $3 million the prior year. The quarterly loss per share was 1 cent, below the earnings of 4 cents a share that analysts polled by FactSet had expected.

Revenue fell to $94 million from $107.1 million, below the $98.5 million estimated by analysts, according to FactSet.

The company continued to face a challenging construction environment in the quarter amid macroeconomic headwinds and regional weather disruptions, Chief Executive Bruce Young said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 06, 2025 12:52 ET (16:52 GMT)

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