CONCRETE PUMPING Reports Record Third-Quarter Earnings for FY2023
September 10, 2023
🌥️Earnings Overview
For the third quarter of FY2023 ending on July 31 2023, CONCRETE PUMPING ($NASDAQ:BBCP) reported USD 120.7 million in total revenue, representing a 15.5% increase from the same quarter of the prior year. Net income, however, dropped 28.7% to USD 10.3 million from the previous year.
Market Price
On Thursday, CONCRETE PUMPING reported record third-quarter earnings for fiscal year 2023. The company’s stock opened at $7.5 and closed at the same amount, signifying a 0.3% increase from the previous closing price of $7.5. The company’s impressive performance was attributed to increased efficiency in the production process, as well as increased demand for its services due to the booming construction industry. This resulted in an increase in revenue for CONCRETE PUMPING, allowing them to further expand their operations and hire more personnel. CONCRETE PUMPING has also made significant investments in technological innovations, such as automated pumping systems which have enabled them to maintain their high standards of quality control and customer service.
Additionally, they have implemented a number of environmentally-friendly practices to reduce their overall carbon footprint. The company’s strong financial performance has allowed them to continue to invest in research and development, and they have been able to develop new products and services that have been successful both domestically and abroad. With these continued efforts, the company can be expected to maintain its position as a leader in the concrete pumping industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Concrete Pumping. More…
| Total Revenues | Net Income | Net Margin |
| 436.93 | 28.09 | 5.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Concrete Pumping. More…
| Operations | Investing | Financing |
| 89.2 | -83.82 | 4.88 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Concrete Pumping. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 914.01 | 610.26 | 5.54 |
Key Ratios Snapshot
Some of the financial key ratios for Concrete Pumping are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.8% | 32.3% | 15.4% |
| FCF Margin | ROE | ROA |
| 5.6% | 14.1% | 4.6% |
Analysis
GoodWhale has analyzed CONCRETE PUMPING‘s financials and the results are quite interesting. We can see from the Star Chart that CONCRETE PUMPING is strong in growth, with medium profitability and weak asset and dividend. Our analysis reveals a health score of 6/10, suggesting that CONCRETE PUMPING might be able to sustain its future operations in times of crisis. For such a company, we believe that investors looking for a stable growth potential may be interested. More…
Peers
Concrete Pumping Holdings Inc. is one of the leading companies in the concrete pumping industry. Its competitors include Koatsu Kogyo Co Ltd, Jinyuan EP Co Ltd, and VNECO4 Electricity Construction JSC.
– Koatsu Kogyo Co Ltd ($TSE:1743)
Kogyo Co Ltd is a Japanese company that manufactures and sells automotive parts. The company has a market cap of 2.72B as of 2022 and a Return on Equity of 2.85%. Kogyo Co Ltd is a well-known company in the automotive industry and is a supplier of parts to many major automakers.
– Jinyuan EP Co Ltd ($SZSE:000546)
As of 2022, Jinyuan EP Co Ltd has a market cap of 10.56B and a Return on Equity of -3.57%. Jinyuan EP Co Ltd is a company that manufactures and sells electronic products. The company’s products include mobile phones, digital cameras, and other electronic products.
Summary
Concrete Pumping reported solid financial results for the third quarter of FY2023. Total revenue increased by 15.5%, coming in at USD 120.7 million. Net income, however, declined by 28.7%, recording USD 10.3 million. Investors may look favorably at the company’s growing revenue, but should also take into account the significant decrease in net income.
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