Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Q2 2023 Earnings Conference Call June 8, 2023 5:00 PM ET

Company Participants

Cody Slach - Gateway Group, Inc., Investor Relations

Bruce Young - Chief Executive Officer

Iain Humphries - Chief Financial Officer

Conference Call Participants

Tim Mulrooney - William Blair

Brent Thielman - D.A. Davidson

Operator

Good afternoon, everyone and thank you for participating in today's conference call to discuss Concrete Pumping Holdings’ Financial Results for the Second Quarter ended April 30, 2023.

Joining us today are Concrete Pumping Holdings' CEO, Bruce Young; CFO, Iain Humphries and Company's External Director of Investor Relations, Cody Slach.

Before we go further, I'd like to turn the call over to Mr. Slach to read the company's Safe Harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995. That provides important cautions regarding forward-looking statements.

Cody, please go ahead.

Cody Slach

Thanks Camilla. I'd like to remind everyone that in the course of this call to give you a better understanding of our operations, we will be making certain forward-looking statements regarding our business and outlook. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see Concrete Pumping Holdings’ annual report on Form 10-K, quarterly report on Form 10-Q and other publicly available filings with the SEC. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

On today's call, we will also reference certain non-GAAP financial measures, including adjusted EBITDA, net debt and free cash flow, which we believe provide useful information for investors. We provide further information about these non-GAAP financial measures and reconciliations to the comparable GAAP measures in our press release issued today or the investor presentation posted on the company's website.

I would like to remind everyone that this call will be available for replay later this evening. A webcast replay will also be available via the link provided in today's press release, as well as on the company's website. Additionally, we have posted an updated investor presentation to the company's website.

Now, I would like to turn the call over to the CEO of Concrete Pumping Holdings, Bruce Young? Bruce?

Bruce Young

Thank you, Cody, and good afternoon, everyone. I am pleased to report that in our second quarter we experienced 12% revenue growth, making our seventh consecutive quarter of double-digit revenue gains. This consisted of growth across all segments and was driven by continued market share gains in recent accretive acquisitions and organic growth. These strong results would have exceeded our expectations had we not experienced above average rainfall in most of our markets, west of the Rocky Mountains, as well as in our home state of Colorado.