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6/4/2026
Good afternoon, everyone, and thank you for participating in today's conference call to discuss Concrete Pumping Holdings financial results for the second quarter and this April 30th, 2026. Joining us today are Concrete Pumping Holdings CEO, Bruce Young, CFO, Ian Humphreys, and the company's external director of investor relations, Cody Sloth. Before we go further, I would like to turn the call over to Mrs. Law to read the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements. Cody, please go ahead.
Thank you. I'd like to remind everyone that during this call to give you a better understanding of our operations, we will be making certain forward-looking statements regarding our business and outlook. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see Concrete Pumping Holdings Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other publicly available filings with the SEC. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events, or otherwise. On today's call, we will also reference certain non-GAAP financial measures, including adjusted EBITDA, net debt, and free cash flow, which we believe provide useful information for investors. We provide further information about these non-GAAP financial measures and reconciliations to the comparable GAAP measures in our press release issued today or the investor presentation posted on the company's website. I'd like to remind everyone that this call will be available for replay later this evening. A webcast replay will also be available via the link provided in today's press release as well as on the company's website. Additionally, we have posted an updated investor presentation to the company's website. Now I'd like to turn the call over to the CEO of Concrete Pumping Holdings, Bruce Young. Bruce?
Thank you, Cody, and good afternoon, everyone. We were pleased with our strong second quarter with revenue increasing 14% year over year and adjusted EBITDA growing 17%. driven by continued momentum across our U.S. operations, disciplined operational execution throughout the organization, and favorable end-market activity in several of our key geographies. This quarter was also highlighted by the early April closing on the Templant Hire acquisition in the U.K. Importantly, this acquisition represents an important step in executing our strategy to build a diversified, multi-service platform supporting the construction and infrastructure sectors. Templant is a high-quality business with strong leadership, and we see clear opportunities to accelerate growth and provide long-term sustainable value for our shareholders. Returning to our execution in the second quarter, our performance was led by continued strength in commercial and infrastructure construction activity across a wide variety of industries, including education, healthcare, energy, infrastructure, and, of course, data centers. Growth across these projects, particularly in data centers, remains healthy and continues to support improved utilization levels throughout our U.S. concrete pumping and Ecopan operations. In addition to the growing data center activity, we are also seeing solid demand across public infrastructure-related projects, including roads, bridges, and education construction. Overall, the environment for larger-scale commercial and infrastructure projects remains exciting and continues to play into our competitive advantage as the largest concrete pumping service provider in the U.S. We also benefited from generally favorable weather conditions across our U.S. markets during the first half of the year, which supported improved activity levels compared to the prior year period. Combined with continued price discipline and solid operational execution, these factors contributed to a strong margin performance and another quarter of healthy free cash flow generation. Outside of these areas of strength, broader construction trends remain relatively consistent with what we had discussed last quarter. Heavy commercial activity continues to hold up reasonably well, while more interest rate sensitive segments, including office and portions of light commercial construction, remain subdued as customers continue to navigate elevated finance costs and economic uncertainty. Residential construction activity also remains challenged. Elevated mortgage rates and affordability pressures continue to weigh on new home construction activity, and while we continue to believe the long-term housing fundamentals remain favorable, near-term demands remain soft. Infrastructure activity in the U.S. continues to be generally strong as the underlying bidding environment and project activity remained healthy, particularly across larger-scale and longer-duration projects. Our Ecopan concrete waste management services business again delivered a strong quarter, continuing to benefit from healthy underlying construction activity, pricing execution, and ongoing penetration into new customer accounts. Ecopan remains a highly complementary service offering to our concrete pumping operations and continues to demonstrate active through-cycle characteristics. Turning to our UK operations, market conditions remain more challenging. Elevated interest rates, inflationary pressures, and broader economic uncertainty continue to impact commercial construction activity, while public infrastructure funding dynamics also remain less favorable than what we experienced in the U.S. Despite these conditions, infrastructure-related activity in areas such as energy projects and HS2 construction remains relatively resilient, and we continue to focus on disciplined cost management and operational execution within the region. We are also pleased with the progress of our recent strategic acquisitions, including our Republic of Ireland expansion and entry into the UK temporary power market. While the near-term acquisition revenue contribution remains modest, we are encouraged by the strategic positioning these investments provide and the opportunities they create to further expand our platform and grow organically over time. Overall, we are encouraged by our first-half performance, and we believe the second quarter further demonstrates the strength of our operating model, our discipline execution, and the benefits of our scale and marketing position. As a result of our performance and current market trends, we are raising our full-year outlook while remaining focused on operational discipline, free cash flow generation, and long-term value creation. I will now turn the call over to Ian to walk through the financial results in more detail. Ian?
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