Resilient Infrastructure Market
Revenue in the infrastructure end markets continued to grow both sequentially and year-over-year. The U.K. infrastructure remains resilient, particularly with growth in HS2 construction projects, and the U.S. shows strong prospects with funding from the Infrastructure Investment and Jobs Act.
Concrete Waste Management Services Growth
Revenue in the U.S. Concrete Waste Management Services segment increased by 7% to $18.1 million, driven by increased Pan pickup volumes and sustained improvement in pricing.
Operational Cost Improvements
Despite a decline in revenue, disciplined fleet management and cost control strategies limited the impact on margins, with gross margin only declining by 50 basis points.
Share Buyback Program Expansion
The company repurchased approximately 1 million shares for $6 million and announced an additional $15 million to be added to the existing share buyback plan.