Concrete Pumping Holdings, Inc. · NASDAQ:BBCP
Concrete Pumping — Q3 2026 Earnings Presentation
36 slides from Concrete Pumping's earnings presentation, Sep 3, 2026
Slide 1: Investor Presentation | September 2026
NASDAQ: BBCP INVESTOR PRESENTATION | September 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This investor presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from expectations, estimates and projections and
Slide 3: Business Overview
Business Overview Concrete Pumping Our Equipment Truck-Mounted Boom Pumps Stationary Concrete Pumps • Largest1 concrete pumping service provider in the U.S. (Brundage-Bone + Capital) & the U.K. (Camfaud) • Optimize utilization through broad geographic footprint & comprehensive suite of equipment Pla
Slide 4: Who We Are
Who We Are • We are the largest1 U.S. & U.K. concrete pumping service provider with a high-growth concrete waste management service (Eco-Pan) • We are a specialty service provider • Experienced professionals operate a fleet of highly technical equipment • Our clients are construction companies; we i
Slide 5: Highly Attractive and Low Risk Business Model
Highly Attractive and Low Risk Business Model A C C B D C B A B C D CPH does not purchase, transport or CPH simply pumps pass-through Non-CPH employees on-site lay the Limited risk for Eco-Pan own concrete concrete foundation ◼ No commodity inventory risk ◼ Pure service business ◼ Limited risk for p
Slide 6: Why Customers Choose CPH for Concrete Placement
Why Customers Choose CPH for Concrete Placement CPH Competitive Advantages Concrete Placement is Highly Critical & Time Sensitive Technical ◼ 40+ years of successful operating history Expertise ◼ Experienced and knowledgeable operators Need for Faster, Safer & Higher Quality Service Advantages of co
Slide 7: Advantages of Our Scale
Advantages of Our Scale Purchasing benefits for fuel, OEM capex purchases & parts Breadth of services In our industry, we compete to service large, more complex jobs based upon level of customer service, fleet availability and Trained operators equipment breadth… with a leading track record of safet
Slide 8: Why Invest in CPH?
Why Invest in CPH? U.S. Concrete Pumping Industry Market Share1 ✓ Largest player1 in the US and UK in a growing industry (% of Concrete ~6x Larger Than Nearest Pumping Spend) Competitor1 ✓ Eco-Pan is a disruptive solution with strong secular tailwinds Next Top 2-20 16% ✓ Proven acquisition platform
Slide 9: Framing the Long Term CPH Growth Opportunity
Framing the Long Term CPH Growth Opportunity Unique, scalable platform that is optimally positioned for continued strong, accretive growth Greenfield 5 Opportunities ◼ “Step-out” from established locations ◼ Leverage best “hunters” ◼ Leverage mobile fleet / operators Pursue 4 Acquisitions ◼ Deepen l
Slide 10: Disruptive Concrete Waste Management Solution
Disruptive Concrete Waste Management Solution Eco-Pan U.S. Market Opportunity Washout Method Alternatives $850M+1 Large Market for Continued Penetration $75M 19% of FY 25 Revenue Total US Market Opportunity (Current Penetration of ~9%) Key Factors for Increased Penetration of Eco-Pan Eco-Pan Organic
Slide 11: U.S. Business Conditions
U.S. Business Conditions U.S. Concrete Production(1) Aging U.S. Infrastructure Catalyzed Public & Private Investment(2) 458 457 432 415 396 406 390 404 394 401 400 379 359 371 377 373 352 325 336 343 351 290 300 259 257 266 D Grade D+ Grade C- Grade C Grade C+ Grade '00 '01 '02 '03 '04 '05 '06 '07 '
Slide 12: Camfaud is the Largest Concrete Pumping Company in the U.K.
Camfaud is the Largest1 Concrete Pumping Company in the U.K. Construction Market Drivers of Strong U.K. Infrastructure Spending Ten-Year U.K. Infrastructure Pipeline (2025–2035): 734 projects, ~£718 billion of planned capital investment3 ◼ Energy is the largest sector at ~£365 billion — grid reinfor
Slide 13: Unrivaled Geographic Footprint in Two Regions
Unrivaled Geographic Footprint in Two Regions #1 Player¹ in Each Region Served for All Business Segments U.S. Concrete U.K. Concrete U.K. Concrete Corporate U.S. Eco-Pan Pumping Pumping Pumping Headquarters Legend: # of Locations: ~100 ~35 ~30 # of Equipment Units: ~990 ~770 ~1602 U.S. Footprint U.K
Slide 14: Diversified Regional & End Market Exposure
Diversified Regional & End Market Exposure Diverse End Market Exposure1 U.S. Regional & U.K. Exposure2 Infrastructure (30%) Commercial (47%) (publicly funded) ◼ Data Centers ◼ Education, roads ◼ Mixed-Use & Apartments & bridges, utilities, ◼ Warehouse & Distribution Centers public hospitals 18% ◼ Ma
Slide 15: Disciplined Approach to Fleet Management
Disciplined Approach to Fleet Management CPH Fleet Overview1 (Pump lengths in meters; avg. age and useful life in years) Expected ▪ We own our entire fleet (no leasing) Equipment Type Fleet Count Average Age Useful Life Up to 33m 217 7.9 25 ▪ Employ qualified mechanics to ensure 34m to 43m 358 8.1 2
Slide 16: Proven & Unique M&A Platform
Proven & Unique M&A Platform Acquisitions Since 2016 ▪ Acquirer of Choice: Completed ~65 acquisitions since 1983 (avg. Fiscal Year Purchase Price estimated acquisition Adjusted EBITDA multiples before synergies Company Name Location Acquired (millions) Strategy <4.5x) Camfaud U.K. 2016 £45.5 New Mar
Slide 17: Industry-Leading Team Highly Aligned with Shareholders
Industry-Leading Team Highly Aligned with Shareholders Bruce Young Iain Humphries Mark Young Tony Faud Casey Mendenhall Chief Executive Officer Chief Financial Officer President, U.S. Concrete Pumping Managing Director, U.K. President, Eco-Pan ▪ CEO since 2008, ▪ CFO since 2016 ▪ President of US ▪ M
Slide 18: Key Financial Performance Trends
Key Financial Performance Trends Revenue Adjusted EBITDA1 ($ in millions) ($ in millions) Adj. EBITDA Margin (%) $442 $125 $426 $116 $112 $401 $393 $107 $104 $95 $97 $304 $316 $283 $79 $243 $68 $211 32% 33% 34% 35% 33% 29% 28% 26% 25% FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY
Slide 19: Historical Growth by Segment
Historical Growth by Segment ($ in millions) U.S. Concrete Pumping $442.2 U.K. Operations $425.9 $401.3 $61.7 $392.9 U.S. Concrete Waste Management Services $70.9 $50.2 $62.6 $75.4 $316.2 $304.7 $54.9 $64.0 $283.0 $38.6 $57.0 $35.9 $243.2 $30.4 $39.1 $48.1 $211.2 $28.5 $49.2 $172.4 $23.6 $50.4 $147.
Slide 20: FY 2026 Outlook
FY 2026 Outlook ($ in millions) FY 2025 Actual FY 2026 Outlook FY 2026 Commentary • Assumes no meaningful recovery for the light commercial and residential construction end markets as volumes remain challenged in FY 2026. Revenue $393 $425-$435 • Positive outlook for infrastructure spending remains.
Slide 21: Quarterly Financial Performance
Quarterly Financial Performance Revenue Adjusted EBITDA1 ($ in millions) ($ in millions) $121 $117 $120 $110 $112 $35 $36 $108$107 $107 $109 $34 $104 $94 $98 $94 $32 $30 $31 $86 $90 $29 $28 $26 $27 $25 $22 $19 $17 $18 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025 2026 2023 2024 2025 2026 Net Maintenance Ca
Slide 22: Long-Term Capital Allocation Strategy
Long-Term Capital Allocation Strategy Strong Capital Structure Reinvesting Strong Cash Flow into Growth Return Excess Cash to Investors • Financial flexibility with ~$357M of total • Initiated a regular quarterly cash dividend Organic M&A available liquidity between cash on the balance in the third
Slide 23: Key Valuation Information
Key Valuation Information Trading Data @ (8/28/26) Capital Structure Financial Overview Valuation Measures Stock Enterprise TTM Q3‘26 Adj. EV/TTM Adj. Price Value2 EBITDA EBITDA2 $9.21 $875M $106M 8.3x $5.56/$12.19 $493M $423M 10% 52 WEEK LOW/HIGH EQUITY VALUE2 TTM Q3’26 REVENUE FREE CASH FLOW YIELD
Slide 24: Attractive Financial Profile & Valuation Versus Peers
Attractive Financial Profile & Valuation Versus Peers EV / TTM Adjusted EBITDA EV / (TTM Adjusted EBITDA – Net Capex(1)) Discount vs. Specialty Rental Peers: (17%) Discount vs. Specialty Rental Peers: (30%) Discount vs. Specialty Waste Peers: (51%) Discount vs. Specialty Waste Peers: (57%) 25.8x 17.
Slide 25: Appendix
CONCRETE PUMPING HOLDINGS Appendix
Slide 26: Company Evolution
Company Evolution For 40+ years, CPH has established a market-leading position and developed a strong platform for continued robust growth 2026: Expansion 2018: Became a public 2022: into Ireland 2009-14: Focus on 2025: Refinancing 1999-03: Expansion into 2016: co. through a SPAC Acquires UKSGP, acq
Slide 27: Select Projects
Select Projects Temporary Power Solutions Nuclear Fuel Facility Eco-Pan (Anglia, England) (Knoxville, TN) (Ohio) Wind Turbine Base Crown Pacific Warehouse High-Speed Railway Line (England) (Puyallup, WA) (Birmingham, England)
Slide 28: Business Seasonality
Business Seasonality • Typically, ~55% of revenue is in the second half of the fiscal Percent of Revenue by Quarter year, May through October • Less concrete is placed in the colder and wetter winter 28% 28% 29% 26% 28% 29% 28% 26% 28% months, leading to greater business activity in the second half
Slide 29: Historical Diluted EPS and Reconciliation of Net Income to Adj. EBITDA
Historical Diluted EPS and Reconciliation of Net Income to Adj. EBITDA Years Ended October 31, (dollars in thousands) 2017 2018 2019 2020 2021 2022 2023 2024 2025 Statement of operations information: Net income (loss) $ 913 $ 28,382 $ (38,978) $ (61,251) $ (15,073) $ 28,676 $ 31,790 $ 16,207 $ 6,373
Slide 30: Historical Diluted EPS and Reconciliation of Net Income to Adj. EBITDA (cont.)
Historical Diluted EPS and Reconciliation of Net Income to Adj. EBITDA (cont.) (dollars in thousands) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Consolidated Net income (loss) $ 9,391 $ (3,826) $ 3,046 $ 7,560 $ 9,427 $ (2,639) $ (4) $ 3,699 $ 5,3
Slide 31: Reconciliation of Adjusted EBITDA and Free Cash Flow
Reconciliation of Adjusted EBITDA and Free Cash Flow July 31, 2026 Q4 2025 Q1 2026 Q2 2026 Q3 2026 (in millions) TTM Adjusted EBITDA (1) $ 30.7 $ 18.0 $ 26.4 $ 30.4 $ 105.5 Less net maintenance capex (7.0) (2.4) (5.4) (11.6) (26.4) Less cash paid for interest, net of interest income (15.8) 0.3 (15.7
Slide 32: Reconciliation of Net Debt and Leverage Ratio
Reconciliation of Net Debt and Leverage Ratio July 31, October 31, January 31, April 30, July 31, (in millions) 2025 2025 2026 2026 2026 Senior Notes $ 425.0 $ 425.0 $ 425.0 $ 425.0 $ 425.0 Revolving loan draws outstanding - - - 0.6 - Less: Cash (41.0) (44.4) (53.0) (38.7) (43.0) Net debt $ 384.0 $
Slide 33: Shares & Other Equivalents Outstanding
Shares & Other Equivalents Outstanding Q3 2026 Presentation Shares Underlying Outstanding Stock for Convertible Securities Valuation or Subject to Vesting Calculations Fully Outstanding Shares (5) Diluted Shares By Type Public Shares 21,163,469 - 21,163,469 Non-Executive Directors 684,100 - 684,100
Slide 34: Credit Facilities Summary at July 31, 2026
Credit Facilities Summary at July 31, 2026 Credit ◼ $350 million Amended ABL Facility1 Facilities ◼ $425 million Senior Notes2 ◼ ABL Facility: USD Borrowings: SOFR + 200-250bps based on leverage levels / GBP Borrowings: SONIA + Interest 203-253bps based on leverage levels Rate ◼ Senior Notes : 7.500
Slide 35: Zero-Dividend Convertible Perpetual Preferred Stock Summary
Zero-Dividend Convertible Perpetual Preferred Stock Summary Principal $25 million Tenor Perpetual Dividend Zero Offering 2,450,980 shares at $10.20 per share The holder of the Preferred Stock may elect to convert its Preferred Stock into shares of Common Stock at a 1:1 ratio at any Holder Conversion
Slide 36: Company Investor Relations
Company Investor Relations Concrete Pumping Holdings, Inc. Gateway Group, Inc. 500 E. 84th Ave, Suite A-5 Cody Slach Denver, CO 80229 949-574-3860 www.concretepumpingholdings.com BBCP@gateway-grp.com
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