BBCP Filings — Concrete Pumping Holdings, Inc. - FilingSpy
BBCP
Concrete Pumping Holdings, Inc.
One of the largest U.S. and U.K. providers of concrete pumping and concrete waste management services, operating through brands Brundage-Bone, Camfaud, and Eco-Pan for commercial construction crews that pour concrete on site. The roots date to 1983 in Denver, where Jack Brundage and Dale Bone founded a pumping business and named their brand from their own surnames, Brundage-Bone. Across the Atlantic, the U.K. brand Camfaud was started by the Faud family and Jim Campbell before joining the company.
U.S. Concrete Pumping returned to growth for a second straight quarter, lifting total revenue 13.7%.
U.S. Concrete Pumping grew for a second consecutive quarter, confirming the inflection that began in Q1. rose 13.7% to $106.8 million and held at 38.6% as data center and infrastructure demand offset softness in the U.K. The commercial construction recovery is taking hold, but higher interest costs from the refinancing continue to weigh on .
Key takeaways
U.S. Concrete Pumping rose 15.2% to $71.6 million, the second straight quarter of growth after four consecutive quarters of double-digit declines, driven by data center and infrastructure projects and favorable weather.
Consolidated rose 13.7% to $106.8 million, with U.S. Concrete Waste Management Services up 12.7% to $20.3 million on organic volume and pricing tied to the same data center and infrastructure work.
was essentially flat at 38.6%, up 0.1 points , as the benefit of higher volumes was offset by higher labor costs and in general and administrative expenses.
Section summaries
Management's Discussion and Analysis
Q2 FY2026 revenue rose 13.7% to $106.8M, driven by data center and infrastructure projects, while gross margin held flat at 38.6%.
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Total Q2 grew 13.7% to $106.8M, led by U.S. Concrete Pumping (+15.2%) on higher commercial and infrastructure volumes and favorable weather.
rose 46.0% to $12.1 million and widened 2.5 points to 11.3%, as growth in the higher-margin pumping flowed through to the .
remained elevated at $8.4 million, a result of the Q1 FY2025 refinancing that replaced 6.000% senior notes with $425 million of 7.500% notes due 2032, compressing to $2.5 million.
turned negative at -$2.0 million, down from $4.3 million a year ago, as fell 67.1% to $8.1 million and the company spent $11.1 million on the Templant acquisition in the U.K.
What changed
The U.S. Concrete Pumping inflection flagged as a watch item in Q1 FY2026 was sustained: after rising 5.3% in Q1, the grew 15.2% in Q2, confirming that the recovery is not a single-quarter event tied to specific projects.
of 38.6% remained below the 40% threshold that earlier filings had flagged as a recovery benchmark, and the Q1 FY2026 concern about higher insurance and repair costs representing a structural reset appears to be playing out, with margin flat despite growth.
, which had been positive at $11.9 million in Q1 FY2026, turned negative at -$2.0 million in Q2, as the seasonal benefit that aided Q1 reversed and the company deployed $11.1 million for the Templant acquisition.
The tariff risk factor added in Q2 FY2025 remains flagged but produced no material impact this quarter, with no new disclosures suggesting an imminent cost or demand effect.
What to watch
Whether U.S. Concrete Pumping growth accelerates or stabilizes in Q3 FY2026, the seasonally strongest quarter, and whether the data center and infrastructure demand that drove the Q2 result is durable or project-specific.
Whether can break above 40% in the second half, or whether higher labor, insurance, and repair costs keep it in the 38-39% range for a third consecutive year despite recovering volumes.
The trajectory of for the full year, given the Q2 reversal to -$2.0 million and the need for to improve to absorb both and the higher from the refinancing.
Any direct or indirect impact from tariffs on imported equipment and construction materials, which the company continues to flag as a risk factor but has not yet quantified.
U.S. Concrete Waste Management Services increased 12.7% to $20.3M, supported by organic volume growth and pricing improvements tied to data center and infrastructure work.
U.K. Operations rose 8.2% to $14.9M, including a $0.7M contribution from the Templant acquisition, though organic revenue declined 3.6% on soft commercial demand.
Consolidated was essentially flat at 38.6%, while G&A expenses rose $1.3M to $29.2M, driven by higher labor costs and .
increased 17.4% to $26.4M, with U.S. Concrete Pumping up 23.4%, while U.K. Operations declined 3.4% on inflationary cost pressures.
Liquidity remained strong at $346.3M, including $38.7M in cash and $307.6M available under the ABL Facility, with $30.7M in gross and $11.1M spent on the Templant acquisition.
Quantitative and Qualitative Disclosures About Market Risk
We are a smaller reporting company as defined in Rule 12b-2 of the Exchange Act; therefore, pursuant to Item 305(e) of the Regulation S-K, we are not required to provide the information required by this Item.
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We are a smaller reporting company as defined in Rule 12b-2 of the Exchange Act; therefore, pursuant to Item 305(e) of the Regulation S-K, we are not required to provide the information required by this Item.
The information required with respect to this item can be found under "Commitments and Contingencies—Litigation" in Note 15 of the notes to the condensed consolidated financial statements in this quarterly report and is incorporated by reference into this Item 1.
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The information required with respect to this item can be found under "Commitments and Contingencies—Litigation" in Note 15 of the notes to the condensed consolidated financial statements in this quarterly report and is incorporated by reference into this Item 1.
There have been no material changes to the Risk Factors previously disclosed in our Annual Report. For a detailed discussion of the risks that affect our business, please refer to the section entitled "Risk Factors" in the Annual Report.
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There have been no material changes to the Risk Factors previously disclosed in our Annual Report. For a detailed discussion of the risks that affect our business, please refer to the section entitled "Risk Factors" in the Annual Report.