- Revenue for the Third Fiscal Quarter is Expected to be Approximately $79 Million, an Increase of 18% Compared to the Same Year-Ago Quarter -
DENVER, Sept. 06, 2019 (GLOBE NEWSWIRE) -- Concrete Pumping Holdings, Inc. (BBCP) (“CPH” or the “Company”), a leading provider of concrete pumping services and concrete waste management services in the U.S. and U.K. markets, today announced that it is rescheduling its earnings call and the release of its financial results for the third fiscal quarter ended July 31, 2019 to Monday, September 16, 2019.
The Company needs the additional time to update for the third fiscal quarter ended July 31, 2019 the opening balance sheet accounting treatment for the Business Combination with Industrea Acquisition Corp. (“Business Combination”), which closed on December 6, 2018. The Company does not expect any change to the Company’s consolidated carrying value of total assets acquired as of the Business Combination closing date, however, the review may result in a reallocation of amounts between long lived assets and goodwill across each of the Company’s operating segments as of the Business Combination closing date.
The Company will file a Form 12b-25 with the Securities and Exchange Commission today indicating that the Company expects to file its quarterly report on Form 10-Q for the three months ended July 31, 2019 on September 16, 2019, which is within the extension period under Rule 12b-25 of the Securities Exchange Act of 1934, as amended.
The Company also announced that it expects revenue for the third fiscal quarter ended July 31, 2019 to be approximately $79 million, an increase of 18% compared to the same year-ago quarter. For the nine months ended July 31, 2019, CPH expects revenue to be approximately $199 million, an increase of 13% compared to the same year-ago period.
Updated Third Fiscal Quarter Conference Call Details
CPH’s CEO Bruce Young and CFO Iain Humphries will host the conference call, followed by a question and answer period. The Company will report its financial results in a press release prior to the conference call.
Date: Monday, September 16, 2019
Time: 5:00 p.m. Eastern time (3:00 p.m. Mountain time)
Toll-free dial-in number: 1-877-407-9039
International dial-in number: 1-201-689-8470
Conference ID: 13693916
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 1-949-574-3860.
A replay of the conference call will be available after 1:00 p.m. Eastern time on the same day through October 7, 2019.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13693916
About Concrete Pumping Holdings
The Company is the leading provider of concrete pumping services and concrete waste management services in the fragmented U.S. and U.K. markets, operating under the only established, national brands in both markets (Brundage-Bone and Camfaud, respectively). The Company’s large fleet of specialized pumping equipment and trained operators position it to deliver concrete placement solutions that facilitate substantial labor cost savings to customers, shorten concrete placement times, enhance worksite safety and improve construction quality. The Company is also the leading provider of concrete waste management services in the U.S. market, operating under the only established, national brand – Eco-Pan. Highly complementary to its core concrete pumping service, Eco-Pan provides a full-service, cost-effective, regulatory-compliant solution to manage environmental issues caused by concrete washout. As of July 31, 2019, the Company provided concrete pumping services in the U.S. from a footprint of 90 locations across 22 states, concrete pumping services in the U.K. from 29 locations, and route-based concrete waste management services from 19 locations in the U.S. For more information, please visit www.concretepumpingholdings.com or the Company’s brand websites at www.brundagebone.com, www.camfaud.co.uk, or www.eco-pan.com.
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the outcome of any legal proceedings that may be instituted against the Company or its subsidiaries; the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably and retain its key employees; and realize the expected benefits from the acquisition of Capital Pumping; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Gateway Investor Relations
Cody Slach or Jared Filippone, CFA