Concrete Pumping Holdings Inc Delivers Impressive 15.57% EPS Growth in Q4 2023, Bolstered by Revenue Surge
Promising Q4 2023 Earnings: Concrete Pumping Holdings Inc Achieves Double-Digit EPS Improvement and Steady Revenue Growth
Published / Modified Jan 17 2024
Goran Soko / CSIMarket.com
Financial News Report: Concrete Pumping Holdings Inc Reports Q4 2023 EarningsConcrete Pumping Holdings Inc has released its financial report for the fourth quarter of 2023 earnings season, showcasing promising growth in various aspects of its business.
The company's income grew by 15.57% to $0.17 per share, surpassing the $0.15 reported in the same quarter a year ago.
However, the net profit per share decreased by -6.14% from $0.18 in the previous quarter.
Revenue saw a moderate increase of 4.623%, reaching $120.20 million compared to $114.89 million in the corresponding quarter a year ago.
Nevertheless, revenue decreased by -0.387% sequentially from $120.67 million in the previous quarter.
Concrete Pumping Holdings Inc outperformed its peers in the Construction Services industry, as the rest of the industry showed only a 3.59% improvement in revenue during the same period.
The company's net earnings for the fourth quarter of 2023 increased by 10.07% to $9.391 million, compared to $8.532 million reported in the same quarter a year ago.
The company also emphasized its improving profit margins, with net margin rising to 7.81% and operating margin edging up to 16.04% in the fourth quarter of 2023 earnings season.
Notably, there has been a buildup in inventories, with the level of inventories and supplies increasing to $6.7 million.
This is higher than both the preceding quarter and the corresponding quarter a year ago.
However, operating earnings only showed a modest improvement of 5.52% to $19.276 million.
On the other hand, accounts receivable declined to $63.0 million from the previous quarter, but remain higher than during the same period a year ago.
Analysts have pointed out that for the fiscal period 2023, Concrete Pumping Holdings Inc declared revenue of $442.24 million and earnings of $31.79 million.
The company also reported an increase in income per share of 14.89% to $0.54 per share from $0.47 in the prior fiscal period.
Additionally, revenue advanced by 10.2% from $401.29 million a year prior.
Looking ahead, Concrete Pumping Holdings Inc is expected to report its next financial earnings on January 30, 2024.
In the stock market, Concrete Pumping Holdings Inc experienced a decrease of -0.63% over the last five trading days, leading to a year-to-date performance of -3.3%. The company's stock is currently trading on the NASDAQ, trading 3.8% above its 52-week average.
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