Construction and Maintenance Services Stocks Q3 Highlights: Great Lakes Dredge & Dock (NASDAQ:GLDD)

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the construction and maintenance services stocks, including Concrete Pumping and its peers.

Construction and maintenance services companies not only boast technical know-how in specialized areas but also may hold special licenses and permits. Those who work in more regulated areas can enjoy more predictable revenue streams - for example, fire escapes need to be inspected every five years. More recently, services to address energy efficiency and labor availability are also creating incremental demand. But like the broader industrials sector, construction and maintenance services companies are at the whim of economic cycles as external factors like interest rates can greatly impact the new construction that drives incremental demand for these companies’ offerings.

The 13 construction and maintenance services stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 3% while next quarter’s revenue guidance was in line.

Luckily, construction and maintenance services stocks have performed well with share prices up 12.2% on average since the latest earnings results.

Concrete Pumping

Going public via SPAC in 2018, Concrete Pumping is a provider of concrete pumping and waste management services in the United States and the United Kingdom.

Concrete Pumping reported revenues of $108.8 million, down 2.4% year on year. This print exceeded analysts’ expectations by 5.7%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ organic revenue and adjusted operating income estimates.

"This quarter, our results again reflected the resilience and adaptability of our business model amid persistent macroeconomic challenges," said CPH CEO Bruce Young.

Unsurprisingly, the stock is down 22% since reporting and currently trades at $5.77.

Best Q3: Primoris

Listed on the NASDAQ in 2008, Primoris builds, maintains, and upgrades infrastructure in the utility, energy, and civil construction industries.

Primoris reported revenues of $2.18 billion, up 32.1% year on year, outperforming analysts’ expectations by 17.7%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Primoris delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 6.1% since reporting. It currently trades at $152.02.

Weakest Q3: WillScot Mobile Mini

Originally focusing on mobile offices for construction sites, WillScot provides ready-to-use temporary spaces, largely for longer-term lease.

WillScot Mobile Mini reported revenues of $566.8 million, down 5.8% year on year, falling short of analysts’ expectations by 2.3%. It was a softer quarter as it posted a miss of analysts’ Delivery and Installation revenue estimates and revenue guidance for next quarter missing analysts’ expectations significantly.

WillScot Mobile Mini delivered the slowest revenue growth in the group. Interestingly, the stock is up 4.5% since the results and currently trades at $20.43.

Read our full analysis of WillScot Mobile Mini’s results here.

MYR Group

Constructing electrical and phone lines in the American Midwest dating back to the 1890s, MYR Group is a specialty contractor in the electrical construction industry.

MYR Group reported revenues of $950.4 million, up 7% year on year. This print beat analysts’ expectations by 2.8%. It was a strong quarter as it also put up an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is up 13.6% since reporting and currently trades at $256.22.

Read our full, actionable report on MYR Group here, it’s free.

Limbach

Established in 1901, Limbach provides integrated building systems solutions, including mechanical, electrical, and plumbing services.

Limbach reported revenues of $184.6 million, up 37.8% year on year. This result was in line with analysts’ expectations. Zooming out, it was a mixed quarter as it also produced full-year EBITDA guidance slightly topping analysts’ expectations but a miss of analysts’ EBITDA estimates.

Limbach achieved the highest full-year guidance raise among its peers. The stock is down 7.5% since reporting and currently trades at $84.03.

Read our full, actionable report on Limbach here, it’s free.

What Happened?

A number of stocks jumped in the afternoon session after the US president announced a framework for a future deal with Greenland. 

Wall Street saw a broad-based rally, with the S&P 500 gaining 1.2% as investor concerns over global trade tensions eased. The positive sentiment followed an announcement that reversed course on plans to impose tariffs linked to Greenland, which had caused steep market losses earlier in the week. This recovery reflected renewed optimism in the market, as the threat of a widening trade conflict appeared to subside, encouraging investors to move back into equities.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Aerospace company Redwire jumped 17.6%. Is now the time to buy Redwire? Access our full analysis report here, it’s free.
• Electronic Components company nLIGHT jumped 5%. Is now the time to buy nLIGHT? Access our full analysis report here, it’s free.
• Custom Parts Manufacturing company 3D Systems jumped 9%. Is now the time to buy 3D Systems? Access our full analysis report here, it’s free.
• Renewable Energy company Blink Charging jumped 7.9%. Is now the time to buy Blink Charging? Access our full analysis report here, it’s free.
• Construction and Maintenance Services company Great Lakes Dredge & Dock jumped 8%. Is now the time to buy Great Lakes Dredge & Dock? Access our full analysis report here, it’s free.

Zooming In On Redwire (RDW)

Redwire’s shares are extremely volatile and have had 102 moves greater than 5% over the last year. But moves this big are rare even for Redwire and indicate this news significantly impacted the market’s perception of the business.

The previous big move we wrote about was 17 days ago when the stock gained 10.5% on the news that the company continued to see positive momentum from recent strategic contract wins and its expansion into the European space market. 

The positive sentiment was fueled by news that Redwire had secured a significant contract to provide docking systems for the Nyx spacecraft. The company also announced strategic contracts that expanded its footprint in Europe, boosting investor interest. This series of positive developments contributed to the stock's recent strong performance, which saw its price climb from $7.15 to $8.67 between late December and early January. These wins followed another notable contract from the previous year to provide advanced roll-out solar arrays for Axiom Station's first commercial space module.

Redwire is up 32.8% since the beginning of the year, but at $12.00 per share, it is still trading 53.3% below its 52-week high of $25.66 from February 2025. Investors who bought $1,000 worth of Redwire’s shares 5 years ago would now be looking at an investment worth $1,134.