Why Shares of Concrete Pumping Holdings Are Down Today
Shares of Concrete Pumping Holdings (NASDAQ: BBCP) fell more than 10% on Wednesday after the construction materials supplier reported quarterly results that fell short of expectations. Management said the issues were temporary but that they did cast some doubt on the outlook for the company's international operations.
Concrete Pumping after markets closed Tuesday reported a breakeven fourth quarter on revenue of $84 million, falling short of analyst expectations for a profit of $0.04 per share on $84.39 million in sales. Revenue was up nearly 25% year over year, and adjusted EBITDA was up 33%, but investors were disappointed in the earnings number.
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Source Fool.com
