BBCP - Earnings call transcript Q1 2020 | Concrete Pumping Holdings, Inc.

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Operator

Good afternoon everyone and thank you for participating in today's conference call to discuss Concrete Pumping Holdings' Financial Results for the First Fiscal Quarter Ending January 31, 2020.

Joining us today are Concrete Pumping Holdings' CEO, Bruce Young; CFO, Iain Humphries; and the Company's External Director of Investor Relations, Cody Slach.

Before we go further, I would like to turn the call over to Mr. Slach 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.

Cody Slach

Kevin. Thanks, forward-looking remind you the our a will making to call, of operations, that be give to better certain everyone like course in this we I'd statements. understanding of numerous These statements actual to materially differ and that such could results statements. risks from are cause uncertainties to subject

Pumping information For Concrete these filings available and risks publicly concerning with see uncertainties, Holdings the SEC.

as On future reported use intention or measure also We EBITDA, revise believe call, statements is whether internally assessing or events will our for adjusts same obligation performance. and the any financial information, new otherwise. it for because update any a to the disclaims discuss of non-GAAP Company which investors today's purposes non-GAAP The provides of we this that is certain or result operating useful industry core financial forward-looking figures adjusted we presentation that items. a analysts measure of information

the In as Combination. Pumping connection which Concrete as we with changed transactions Holdings, Inc. Industrea closing to a to measure name For formerly known Company as Acquisition Company's please release the the on on please posted which its investor website. of Pumping previously Business Holdings, the we Combination, press company, the December CPH today the the Also, refer Business we refer we note Inc., former to and where the reconciliation Corp, or called previously consummated XXXX, to presentation private to acquired that the this net Combination, X, Business loss, SPAC, announced collectively the issued Concrete of refer

described company to operations to CPH. results of today the dates for Finally, prior relate private and the the formerly combination the periods financial

that we report are please on we the see will discussing statements financial our that For additional today, this on which information, call. includes file XX-Q Form quarterly

in today's via this be provided Company's press for the I'd everyone well as this be will also available remind replay like as Webcast the replay on available later will to website. call link that evening. release,

the have Company's we Additionally, on presentation website. investor posted an updated

like Concrete Pumping Holdings, call to to Now the turn over I'd the Bruce Young. CEO of

Bruce?

Bruce Young

and Thank afternoon you, everyone. Cody, good

of on moment Before things quarter let few first providing about please comment a to me coronavirus. the in an the a take of business performance overview XXXX,

asset our are a to as as our long people First, closely the most and concern, important virus to employees. take and steps situation will remains proven the very monitor continue we protect

this the that Second, not we believe a current company do chain our unique in and supply is China. upon dependent have we in position environment is

ensure a of China. are do maintain able to we or only maintain fleet our to inventory critical rolling we parts not from continually fact, directly we In source components and

we side, at are to not impacts projects not and holdup demand U.S. the in On or projects the are time the any the U.K., in any in virus both seeing to slated active future. begin we near seeing this caused the

working in working to they online remote where and in fields measures. environment, required. been Business plans place precautionary employees our ensure encouraged to regularly While the to capabilities appropriate have take in tested maintain continuity we are open support air

and All aware employees recognition. hygiene made hand have been practices appropriate of symptom

to continue monitor will closely shareholders our and We accordingly. the situation update

point in quarter reiterating now has continued quarter adjusted we of margins. line supported business which our growth our my highlighted EBITDA year by first basis XX% which have will in top strong XX% our attention was momentum improvement XXX reiterated have results, our and by gross The I a financial of we turn as outlook. growth us into that to first full

acquisition healthy Our of these integration successful Pumping drive last Capital to contribution year and continues to results.

in are our accelerated Business. Waste U.S. market growth robust a generating we from benefiting Management still is industry Concrete our U.S. Furthermore, and Services

in most strong Concrete growth markets. as we was Business our experienced in first Our quarter Pumping the regional U.S. of

highlight quarter our EBITDA to year compared Concrete growth encouraging the of that XX% of ago. Pumping same by outpaced revenue when very adjusted to in a quarterly growth segment is XX% was U.S. It

If X% year-over-year. we results coming capital and results include year, run The under we of continues business show, both economic revenue an to platform smoothly by realizing capital's basis in our last improved organic benefit the as on our our together. are companies numbers

Since to equipment synergies capture needed. flow redeployment that typically capital that we the of fleet utilization EBITDAR approximately have fleet and May management This the business applying example prior strategies. acquired units and in is acquisition extra company the we other we the and we cash of a from where was XX to equipment identified reallocated by those our markets great XXXX, combined

reallocation CapEx investment, benefits $X gross identified have of majority the to in Company fleet fleet achieved than which allowed synergies. million to-date previously more The the the captures defer

to relationships U.S. Pumping revenue intact Eco-Pan, in Concrete EBITDA the our Waste concrete organically. Services segment accelerated remains percentages large of waste and business For the leverage U.S. from existing opportunity our to ability growth management Management our with services Concrete the new implemented growth our grow initiatives resulting

Similar EBITDA to an the was revenue compared of impressive our when by this XX% segment in to XX% year ago same performance, U.S. Concrete increase growth quarter. outpaced Pumping in adjusted

political returned with In of currency industry Brexit and their UK commitment exchange improving project, our underscoring to government to is HSX. slight rail push experienced high speed with has UK from the demand optimism construction UK recent operations, related ease, a uncertainty multi-decade we in developments, translation ahead and tensions more headwinds foreign

expect reputation in to we up. momentum We brand continue Camfaud as our position prominently region and UK pick demand and to

growth with Given performance our on we believe strategy. our in consolidated quarter, long-term first the track are we

by Our rollout we the in see and market gains markets we as and initiatives significant business. opportunities for the and end U.S. the well regions supported our share serve the across UK in continue growth continued continued business seeing and to are Eco-Pan the as we positive of trends are

hand a to results. like detailed Iain to so overview can quarter I'd over first he our call financial Now, of the provide

Iain Humphries

everyone. afternoon good and Bruce, Thanks,

I'd measure and net the financial earlier GAAP from a remind reconciliation can today. be to refer which EBITDA the press adjusted details issued release a into in getting we we is like adjusted loss that non everyone find EBITDA, to Before to

business is keep in XX% revenue seasonal in of the and the year please generated mind first Also XX% half second approximately is of in half. our with fiscal our

Additionally, is as capital our maximize largely weighted front-half our while of we profitability is periods. in take expenditure months equipment fiscal the weighted typically uptime earlier of delivery we to busiest back-half the ensure new our fleet in year

same into from Capital growth top the Moving and XXXX Eco-Pan. Brundage-Bone increase QX revenue million the revenue XX XX% growth results, was to the quarter within largely ago strong acquisition quarter. compared contribution to we organic our generate The in Pumping increased by line $XX.X year driven million and as XX.X first

On Pumping by pre first the a pro results of X%. our fiscal our the increase. transaction, pumping U.S. pro In revenue on increase approximately Concrete by forma segment operated quarter, acquisitions revenue both X%. forma market, a Texas basis, the up Pumping currency $XX the Adjusting QX approximately brand $XX.X. our post which mostly basis, to added constant million Brundage-Bone was capacity which include revenue and in increased additional XX% revenue of Capital year-over-year drove to under acquisition, The the

Coast in partially markets improved operations. including X% operating headwinds the $XX.X on improvements notable regional brought currency Camfaud most West Georgia million by other decline primarily was quarter. our our million it largely operations and Idaho, the experienced translation. U.K a was revenue, by in of brand under our QX to we $XX XXXX revenue drove Brexit-related in offset compared in year-ago Demand foreign uncertainty same Additionally,

in continue the $X.X Eco-Pan growth in million the increased experienced under same the in QX operating markets XX% Concrete the of service Concrete first growth driven Waste assets. was XXXX, of for organic increase Pumping pickups footprint. majority strong our the the quarter. in to Management our end XX% and indicator field, brand is and our by pans Revenue a to next utilization U.S. At as our future tier to Services markets were higher of the quarter. higher year-ago in The compare segment We leading Eco-Plan robust which integrate we

quarter results, and at gross to continued fuel points contribution more XXX post costs. the last year. our supply procurement million year-ago chain to in increased the profit margin increase compared Pumping back acquisition to and our same XX.X% Capital favorable quarter margin compared The Turning in was XX% due in to gross $XX.X primarily to consolidated first increased improvement pricing gross basis from

$XX.X General and administrative in the $XX.X to year-ago expenses same million quarter. in compared million QX were

grant $X.X XXXX. As of Capital Pumping and an stock-based higher expense million, year. in was a due of revenue, last of most administrative as intangible acquisition additional of to result and percentage general of expenses $X.X XX% the the XX.X% compensation million in which largely a result were of the The April, expense stock amortization assets of was compared to increase

attributable acquisition. per share. predominantly quarter group, headcount the The the team to remainder was the attributable added Pumping million new loss fiscal in to million diluted $X.X compares increase loss of members net common Capital $X.XX or year with first mostly is of a shareholders $XX.X to the of XXXX. from This Net

warrants as in increase XX Pumping million acquisition our that equity the Capital X.X of third result XXXX quarter to million note shares a share Please completed related of our stock. the for was count of offering and exchange in May that common XXXX

to XX% and Adjusted improvement million Finally, procurement $XX.X adjusted XX.X%. improved margin drove fuel by the million EBITDA the first in quarter. and EBITDA parts gross to growth, in expansion. margin same increased margin $XX.X points year-ago basis quarter the to savings in compared Revenue strong XXX

improvement impressive It excess is of financial note the EBITDA in U.S. in important create to revenue growth. substantial adjusted well our businesses the

business And on U.S. on Management our to increased XX% growth. growth. Pumping adjusted XX% Concrete the organic business, XX% of U.S. in backs revenue back EBITDA million million $X.X $XX.X to XX% EBITDA of adjusted the Our revenue increased the Waste

sheet. balance the to Turning

$XXX.X a and of had debt. forma leverage made forma less of the ratio of This at end times January of equates first just million four million XXXX, pro in $X.X than $XXX.X debt XX to net was million up pro cash quarter. -- As that the of in fiscal we and total

a working concrete invoice the not work daily we take and flow free do our business customers place. our capital as requirements minimal healthy we we of cash perform, As we reminder, we as the ownership for generates have

believe the over along us to accretive We to of with our strong the provides strengthening with Capital ability ability business flow the been free acquisition time. that Pumping the and cash strong have sheet balance de-level generate enhanced with margins

million net compared busiest will million not year uptimes execution. expectation investments between and full impact the difference delivery years with is trends we this which historical and capital our to of have quarter, the elevated invested get opportunity expenditures, to XX.X equipment first of year as During our expenditures $XX project purely slightly quarterly is that range we prior and in timing allowed $XX a for This from front improve us the the capital early, in and on net does accept the million.

outlook financial fiscal quarter out expect Our means last on our end we laid with that and XXXX what remain for activity continued year markers we to consistent construction robust. to

in work to this outlook last visibility revenue our our are which our infrastructure stronger nearly high when current for U.S. the of have compared accounts which XX% confident and We today much projects and is of financial we time year. in

that, year XXXX. I over Bruce provide With reiterate call outlook our to priorities of and to back the turn now fiscal our color strategic will additional for

Bruce Young

Iain. Thanks

and reiterate, intact. Eco-Pan our first to of call growing and This in our well XXXX with that share the market the we remains revenue to growth are additional fiscal UK continuing line U.S. Just Capital our markets our from as and and organic outlined drive synergies as our in delivering quarter on Pumping. strategy gaining includes expense expectations brand results last

kicking have centers, garages, projects of market. parking include spread major expected data our half large several These in of off throughout office the U.S. campus distribution the projects growth hotels regions. key with XXXX rebuilds, buildings, projects most and buildings. medical organic These centers, first We in are

service. through In to more penetration The great Eco-Pan strategy our by Pumping year, which to Pumping execute and and to Camfaud and new both creating our this has Concrete customers significant expand we customer through see with organic U.S. we opportunity on helped Concrete leadership, synergies Eco-Pan, selling base our acquisition. increase effectively customer last cross added

Looking we organic last They our remain generation. out the laid the EBITDA of the year, on priorities we rest committed ahead to focused on growth to are cash free and call. driving flow

come benefits of scale acquisition and will cost growth as our the as offering by market, other successfully on cross-selling from on U.S. this proven expect well We in of capital. management steady brought Eco-Pan

and we Given full adjusted fiscal to million. $XXX year range $XXX in million million between revenue range EBITDA and expect these still $XXX $XXX dynamics, XXXX and million between to

the at targeting of leverage we We are flow a free to a expect of our ratio ratio, and to leverage portion large year. be our end cash times X.X fiscal allocated reducing XXXX

towards stable our and continue our work balance We in our of expect CapEx XXXX in fiscal sheet. to annual to maintain goal investment strengthening equipment

M&A Finally, Capital a creative and the in opportunities the we we to be continue will develop the any tuck-in expected near pursue we term business. synergies as deliver Pumping

by our long current fiscal term We success quarter in XXXX strategy that remain its encouraged of confident continued continue and are the value. driving shareholder first we will

like over for that, turn With I'd the Q&A. now back to to operator the call

Operator

Our Instructions] coming from [Operator Andrew from W. first Robert today Wittmann question is Baird.

Your is line on. now

Andrew Wittmann

start I was some nice think quite growth wanted and good for and here that your with very margin that to the are expansion. questions I investors strong quarter topical with understanding

forward here are market I I in looking that think of macro is on about have the the -- environment. the questions concerns the the look some

you there can think I understand aligned you that in get those might geographies I to Mexico. of Charlotte, of markets States a economy New from of from Bruce that know, could Texas, don’t lot maybe like understand are or specifically And to have in you past, Louisiana, so where the might a everything in work So kind or in some the the Iain, Bruce, Seattle how, talked about we could either us I'm oil exposure? or curious markets pressures is percentage be business most work guess. energy Atlanta beyond how kind that help Just some be know, just revenue included that your from react the you've of those there? you larger affected about how if

Bruce Young

Andrew. Thanks Yes.

support And or to that to that things we we and a support to don't related are clear, do work any directly the entity. do infrastructure energy well on industry that be so and sites buildings, are business other there

fuel for energy Company what is savings working has fuels past industry. that is a of in use decline the so we've than it the Now, our benefit especially in and markets found the actually fuel because for with is energy oil equipment greater the the that prices and lot loss that, the we revenue declines, to in this

Andrew Wittmann

remind Can you is us just fuel what of percentage revenue cost?

Bruce Young

Andrew. about X% It's

Andrew Wittmann

about that impact Okay, can what couple they trends? question long that's And the helpful. in you but, similar do economic been maybe in I just business for it's if margins? little as think about how things talked this the an wondering and do just what And Bruce, do you kinds years? somebody in you again, What like everybody's today slowdown? of then operationally, And looks time, a you this see have are who's something the been talk the revenue that a bit, last does your of not markets points that for business

Bruce Young

Yes.

don't markets learned we've the we've several geographies And been look that at we so all and in through and all nearly it, as what all end cycles time. cycle cycles same at

and into to can our anyone the footprint, do by to And as largely make line with heavily so that or which just weighted from Charlotte, we've geography, that anyone's from too don't you to careful we're we're anything end line. Seattle sure see that not market way,

geographic with and protect diversity, diversity think we the that. ourselves we some market end So from the

to CapEx Now, it a variable as significant, or if downturn if can we affects of line variable we a and significant clearly costs we'll XX% need shut is turn make off that businesses do. all they're we plus gets those and operations, sure cost our negative keep in extremely that there even

Operator

Our next from Elliott question today is coming Stanley Stifel. from

is Your line live. now

Stanley Elliott

guys, us moving the kind of see when the think see pumped Exciting you getting thank us Excuse HSX? we'll us forward an start all the give remind news to maybe update potentially me. on on go that Could you concrete and to of taking project duration also UK here? of you remind Hey that, question. for

Bruce Young

Bruce. Stanley, this is

excavation the been taken the Now, in process There's HSX the government. performed has project is supported a has being approved being the substantial by and of place already now. amount or that taken

project the process. that do revenue portions come secure to fiscal later on. the of expect seeing are will projects, the is year. work process our small of this significant fall end some of significant We more year, trying that start doing by to in which coming on of more but We We're

well years. we And extending then, into that see next several the

two phases. there's So

XX two take maybe into could is London extends that up it should of England running that. years into from much working and Northern then start least to from And into That portions even the that that now the at that phase that run enlarge XX phase five Birmingham into area finish so the would longer maybe phase than years be years. we're second a on take would there's that

Stanley Elliott

the said of just where on can in how to frame field. you in great. trying bring the out? Kind Can pans here? your the opportunity Like, are higher of more terms that switching growth maybe of view gears, many size locations here, out business, this penetration think a get to Eco-Pan That's of on I XX% your you we I'm you service

Bruce Young

Yes.

XX% see the first we to we something through growth revenue and had continuing the similar in on quarter So, that, year.

focus rough our we capturing on those opportunities much there's markets, Tier focus more and seen been as than largest densities, in markets X And we margins. in what the year share year on really Our improving our past. we're there this X we Tier that had the down and our more where markets, creating found more next has

right areas all stats the And grow hoped. your the those that. we're half do you now. focused been so, We've of didn't last we to are know, bought in on we'd the assets as as that two areas year, first We've

be we've that those those having and go Eco-Pan So, to of new to growth with to assets continue any into we're additional would fully utilized markets our now in that add laid this part are and out. year. looking without actually strategy all included markets that assets It CapEx as

Stanley Elliott

lastly that if the of customers Great. see if want far out I Then to between on Can it. you as are you to forward X% environment just discussions talk going me, Maybe, business. how price there? don't I with just the kind you and on curious pricing are but parse you look be I'd for volume, know the said apologize as out seeing about go the

Bruce Young

obviously have pricing and consistent best the a past price between that our talked what with make in and getting we've sure contractors now, in our projects do Pumping So of they we're we're their Concrete was a sure the lot seeing we more the organic X% to split portion and and being and the value. hours about responsibilities they're technical build on that an obligation deal right good technical value we more on some of And projects. make more now than easily the simple providing have prove projects out we projects growth very

to being business our we benefit So, to see able throughout year. that this help

Operator

And the from Tim question is from Blair. Mulrooney William coming

Tim Mulrooney

touched I experiencing of indication with in heard future you But start say a I in to given delays news. backlog the any see So your pipeline? out lowering know they've aren't companies, which surprised guide, that face that maintain you the you our the on of you increased there this, but signs been push to their on uncertainty. any been of But any macro behavior discussions off in guidance, of of the projects? was I a changing great numbers Or with current little most has is of customers, projects.

Bruce Young

about customer optimistic base pretty our currently, not No, this workload the is year.

as a we will issue term it Now, that may of very today, as be becomes things that that. about comfortable coronavirus, But there it we're continue and expect. if we the long some see mindful effect everybody's

Tim Mulrooney

Okay.

that. you I'm your first of to color in I more know us chain, remind you pumps switching your CapEx? disruption? in China. some year. procured of wrong capital most looking I from you from half about the gears your typically from I many event chain typically confirm. maybe a into just procure suppliers make most Can investments different thought on the just of was and wanted for guess pumps of growth where you contingencies the your And of supply how supply I the Just have you

Bruce Young

good question. Yes,

come the purchased And assembly Europe they're we and we So from other come Chinese on supply are both are Currently the of Europe. as trucks Germany two German businesses parts and well. that main then owned. is from mounted some and the parts that products U.S. all from for done Europe U.S. within largely suppliers those the buy that and machines

We suppliers lot have other units. that Korean some our are the part do manufacturer. machines supplier to the parts from that machine a and have wear nature very for of some to in our German-made similar do parts the We of

there of of inventory good And we out and to for a that that we relationships very very parts period have some so would have time. need large run

Tim Mulrooney

Yes.

Okay. one me. from more Maybe just

already. You discussed pricing

you think I said X%-ish.

pricing calendar You every the beginning usually right? Is update at of year. that

Bruce Young

Yes.

different in done ways. many it's So

So quite it's often project.

of one little as careful in that to rate and concerns the onto out that now we've January. as U.K, how with sort will a out, just possible any So price in we'll on next some then certainty been our U.K. they out have to that play the increases get other soon we increases the updated starting annual out that labor, rolled as And and December, But bit we about currently one getting being need Brexit are that roll Any with increases there. the inflation, because are project thing. go contracts come of typically

Operator

B. coming Rygiel Our next question Alex Riley FBR. today from is from

Your line now is live.

Alex Rygiel

today Can say, backlog, us compare year? the And in your was back does utilization quarter? you rate to, the how the on and previous backlog update what to then quarter circling previous

Iain Humphries

we equipment on little Alex from where Iain, right so with in line a the be to which Hi, QX in higher is is XX%, fiscal in than was expected this year. the utilization

Bruce Young

work. all we kind calling know, of to of our kind on businesses projects. -- Alex larger attract questions, It's can the difficult you of backlog half very the Now, as being

the give greater a backlog can't it’s equipment our percentage, last year. is, projects major but specialty I on Our using than what you was it

Alex Rygiel

on markets of minus, little could bit which are which stronger, U.S., us geographic a and bit direction? ones into the little bit plus the you comments or opposite to relates a weaker are of that it as highlights kind then give the little And maybe ones are inflecting and a

Bruce Young

Yes, lot of better year last two all in were heading that a have those because largely very areas. two we our work and uncommon When Lake Lake projects for markets Salt we than phase last hold work to on the were use they of a that markets is direction Airport, where quite are the Salt those large year except now did starts. until on next

So had that that is and down. in And uncommon very we were then two going slightly Oklahoma, affecting them to they're large year projects last market. that

upping So year, but bit more this little in growth the than markets. the offset that market's a other by

Operator

question coming next from is Our Mahotra] Capital. from [Rami Nuclear

Your line is now live.

Unidentified Analyst

cetera. only if say, you they to cetera, a on to is job of really I'm sort et And sort callers of an extremely going energy, and in or and sort about obvious, let's categories sort being extreme right, forward of and traveling process touched been lot think on industries a one. they're afternoon, front the have optimistic of their travel days et know, is and through airline it operator I Good how a ago, liquidity, really like, being a going other hotel on a probably, of executive of it's business are two outlook and here be shock ask that an wonderful it or by the questions would dime. I about center operation, turned XX lot very manage you And cruise trying

chaos construction XX And approved, what businesses But for that's, good lit there past because your getting greenlit. the, is And are this profits not have the through type months. I real you its worked like of let's is is, funded, markets. so, financial really visibility you the backlog or months, chance up a after XX the project just guys uh, that feel you've in next and suspect say

Bruce Young

That’s great question.

started good a very now. happening Projects have we year rarely things visibility funding of unless shelved don't those for that way out project, about run are for out get in a now. which the see we So, they

where of the good feel remainder do we're pretty this through about at year. we So

Now that certainly long affect issue depending the really how could predict into be. and future. stays businesses, it that in what on affects the deep how to It's play coronavirus it hard things might

Unidentified Analyst

cost variable. XX% trucks and more? literally commented your is it of Or you structure is operators? is And that And that

Bruce Young

the fuel, related operations it's it's to it's everything of business. Well, the parts,

Unidentified Analyst

different And off, we reallocate the to the markets? is or just idea so, that if did you idle see fall if appropriate have opportunity as

Bruce Young

affects I to can be where we what how would our markets, And it look our think be. assets would would would on different get the then, what spend we best re-allocate to at see Yes, have we offset the return CapEx needs to them.

Unidentified Analyst

Perfect. Okay.

questions And more dovetail allocation, the is a so capital of set next but my financial with set. first

how Iain, EBITDA flow roughly that translates of is million to So am XXX that much everyday the or $XXX million? guide, operating million EBITDA I of million right XX an XX cash on basis?

Iain Humphries

Yes.

free effectively less it through cash interest We’re going here, think is business CapEx, in and we just under XX% it is EBITDA. you and the to way of walk -- if have the less

Unidentified Analyst

in Okay. CapEx? that And include growth does scenario, when you that that maintenance say, is CapEx CapEx or

Iain Humphries

CapEx. all It's

and range before given is some we've about call So, guidance on XX to XX. the this CapEx

CapEx is growth. that planned including you that all that's if midpoint year, the for on and So, the

Unidentified Analyst

Okay.

am if million you've XX or XXX to so, XX%, million to use XX that all cash pay trying leverage out about down almost the put we And I the cause times debt you're goes to to here flow that's of basically, of it then, and X.X allocate. thinking if down? that for right, And after-tax, get you

Iain Humphries

is you is a that's focus do sheet. foremost, pay math debt, first we is there mean focus some if the yes, flow leftover balance in to where and our mean, I down and I the that's strengthen would free cash Yes. allocate But accordingly.

Unidentified Analyst

important given Company. incredibly is liquidity managing think I and the Fantastic history the this especially of in environment,

facilities the with and let respond the the with you and the see that. better guess facilities guys debt I'll do rates, I firm substantial that you let the or in and second cut have you protects of any stop and debt opportunity refinance an there combination to get The to you Company interest of maybe terms

Bruce Young

I mean, think back think December the Yes, Company out were is absolutely. well-seasoned than in the We're 'XX, of a short that I now. information different public the in market end we is business and answer yes, I much execution there. is

an we of that definitely and are there's anniversary. outside opportunity area in So year our call one

yes, first more when came So is out. market today than favorable obviously the we

we're about. something thoughtful that's So very

Unidentified Analyst

Perfect. that's exploring a at terms talking you something close board what about be Then, guys actively is. to the so up, of and the just opportunity are level that in

Bruce Young

Yes.

Unidentified Analyst

that's for all work. and hard thank Well, Perfect. Congratulations and focus it you for me. the

Operator

floor to question over our Thank and you. end closing comments. We've of management turn reached session. for to any back answer the further I'd like

Bruce Young

like thank speaking today's everyone results when forward we second and with in to We'd fiscal we look Thank XXXX report to listening for call of June. quarter our you to you.

Operator

does today's you. conclude Thank That teleconference.

may disconnect line have your wonderful and today. for participation this time day. you thank at a your We You

Concrete Pumping (BBCP) 12 Mar 202020 Q1 Earnings call transcript