Concrete and waste management company Concrete Pumping (NASDAQ:BBCP) will be reporting earnings tomorrow after market hours. Here’s what you need to know.
Concrete Pumping missed analysts’ revenue expectations by 12.6% last quarter, reporting revenues of $109.6 million, down 9.2% year on year. It was a disappointing quarter for the company, with full-year revenue and EBITDA guidance missing analysts’ expectations.
Is Concrete Pumping a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Concrete Pumping’s revenue to decline 8.2% year on year to $110.4 million, a reversal from the 4.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.16 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Concrete Pumping has missed Wall Street’s revenue estimates four times over the last two years.
With Concrete Pumping being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for construction and engineering stocks. However, the segment has faced declining investor sentiment as Concrete Pumping’s peer group is down 6% on average over the last month. Concrete Pumping is down 8.2% during the same time and is heading into earnings with an average analyst price target of $7.08 (compared to the current share price of $6.74).
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