The concrete transportation and waste management provider now projects full-year revenue between $425 million and $435 million, surpassing its previous estimate. This optimism follows a fiscal third quarter where revenue climbed 13% to $116.8 million, while profit rose to $4.5 million, or 9 cents per share, from $3.3 million in the same period last year.
In section Market Quotes
Concrete Pumping Shares Surge on Raised Guidance and Maiden Dividend
Shares of Concrete Pumping jumped 14% to $10.32 in after-hours trading Thursday, fueled by an upward revision to the company’s annual revenue forecast and the announcement of its first-ever quarterly dividend. The rally adds to a strong year for the firm, with stock value climbing 31% since January.
Chief Executive Bruce Young credited the growth to robust demand for large-scale infrastructure and commercial projects, specifically noting the influence of data center construction. The company’s new quarterly dividend of 13 cents per share signals management's belief in its long-term cash flow stability. Additionally, Concrete Pumping extended its share buyback program through November 2028, leaving approximately $11.9 million available for repurchases as of late July.
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