Stock Story -
Concrete and waste management company Concrete Pumping (NASDAQ:BBCP) will be reporting earnings tomorrow after market close. Here’s what to look for.
Concrete Pumping missed analysts’ revenue expectations by 4.9% last quarter, reporting revenues of $107.1 million, flat year on year. It was a weak quarter for the company, with a miss of analysts’ earnings estimates and a miss of analysts’ organic revenue estimates.
Is Concrete Pumping a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Concrete Pumping’s revenue to grow 4% year on year to $125.5 million, slowing from the 15.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.19 per share.
The majority of analysts covering the company have 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 three times over the last two years.
Looking at Concrete Pumping’s peers in the construction and maintenance services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Great Lakes Dredge & Dock delivered year-on-year revenue growth of 28.2%, beating analysts’ expectations by 3.5%, and Construction Partners reported revenues up 22.7%, topping estimates by 2.7%. Great Lakes Dredge & Dock traded up 5.8% following the results while Construction Partners was also up 3.9%.
Read the full analysis of Great Lakes Dredge & Dock’s and Construction Partners’s results on StockStory.
There has been positive sentiment among investors in the construction and maintenance services segment, with share prices up 6.6% on average over the last month. Concrete Pumping is up 8.7% during the same time and is heading into earnings with an average analyst price target of $9 (compared to the current share price of $6.49).
