(1) Other adjustments include the adjustment for non-recurring expenses, non-cash currency gains/losses and transaction expenses. For the twelve months ended October 31, 2024, other adjustments includes a $3.5 million non-recurring charge related to sales tax litigation.
Three Months
Ended October Year Ended October
31, 31,
----------------- ------------------
(dollars in thousands) 2024 2023 2024 2023
------ -------- ------- --------
U.S. Concrete Waste
Management Services
Net income $5,716 $ 4,822 $14,241 $ 14,348
Income tax expense 983 1,082 $ 4,450 $ 4,339
Depreciation and
amortization 2,460 2,187 $ 9,349 $ 8,401
EBITDA 9,159 8,091 28,040 27,088
Other expense (income),
net (10) (6) (20) (6)
----- ------- ------ -------
Adjusted EBITDA $9,149 $ 8,085 $28,020 $ 27,082
===== ======= ====== =======
Other
Net income $ (3) $ 259 $ 127 $ 6,898
Income tax expense 3 1 3 1
EBITDA - 260 130 6,899
Change in fair value of
warrant liabilities - (260) (130) (6,899)
----- ------- ------ -------
Adjusted EBITDA $ - $ - $ - $ -
===== ======= ====== =======
Concrete Pumping Holdings, Inc.
Reconciliation of Net Debt
October January April October
31, 31, 30, July 31, 31,
(in thousands) 2023 2024 2024 2024 2024
-------- -------- -------- -------- --------
Senior Notes 375,000 375,000 375,000 375,000 375,000
Revolving loan
draws
outstanding 18,954 13,021 16,428 - 20
Less: Cash (15,861) (14,688) (17,956) (26,333) (43,041)
------- ------- ------- ------- -------
Net debt $378,093 $373,333 $373,472 $348,667 $331,979
======= ======= ======= ======= =======
Concrete Pumping Holdings, Inc.
Reconciliation of Historical Adjusted EBITDA
(dollars in thousands) Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
------- ------- ------- ------- ------- -------
Consolidated
Net income (loss) $10,336 $ 9,391 $(3,826) $ 3,046 $ 7,560 $ 9,427
Interest expense and
amortization of
deferred financing
costs, net of interest
income 7,066 6,834 6,463 6,873 6,261 5,976
Income tax expense
(benefit) 3,318 3,345 (1,011) 2,180 3,081 3,854
Depreciation and
amortization 14,707 14,789 14,097 14,239 14,491 14,283
------ ------ ------ ------ ------ ------
EBITDA 35,427 34,359 15,723 26,338 31,393 33,540
Transaction expenses 5 29 - - - -
Stock based compensation 934 709 536 737 644 477
Change in fair value of
warrant liabilities (911) (260) (130) - - -
Other expense (income),
net (262) (34) (39) (44) (276) (47)
Other adjustments(1) (277) 1,002 3,191 517 (123) (290)
------ ------ ------ ------ ------ ------
Adjusted EBITDA $34,916 $35,805 $19,281 $27,548 $31,638 $33,680
====== ====== ====== ====== ====== ======
(1) Other adjustments include the adjustment for non-recurring expenses, non-cash currency gains/losses and transaction expenses. For the first quarter of fiscal year 2024, other adjustments includes a $3.5 million non-recurring charge related to sales tax litigation.
(END) Dow Jones Newswires
January 08, 2025 17:05 ET (22:05 GMT)
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