Good morning everyone and thank you for participating in today's conference call to discuss Concrete Pumping Holdings’ financial results for the fourth quarter and fiscal year ended October 31, 2018. 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.

Thanks Doug. I would like to remind everyone that in the course of this call to give you a better understanding of our operations, we will be making certain forward-looking statements. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from such statement. For information concerning these risks and uncertainties, the Concrete Pumping Holding Inc publicly available filings with the SEC. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. On today's call we will also discuss adjusted revenue pro forma for acquisitions and adjusted EBITDA pro forma for acquisitions which are non-GAAP financial measures which adjust reported figures for nonrecurring items, constant currency and full year contributions of historical acquisition. Please refer to the investor deck posted on our website for a definition and reconciliation of these measures GAAP. We believe the presentation of such non-GAAP financial measures is useful because it provides investors and industry analysts the same information that we use internally for purposes of assessing our core operating performance. Also, please note that on December 6, 2018 we consummated the previously announced acquisition of the formerly private company formerly known as Concrete Pumping Holdings Inc, which we refer to as the business combination. In connection with the closing of the business combination the Company changed its name from Concrete Pumping Holdings Acquisition Corp, to Concrete Pumping Holdings Inc and each of Industrea Acquisition Corp and the formerly private company formerly known as Concrete Pumping Holdings Inc became a wholly owned subsidiary of the Company. Finally, the results described today for dates and periods prior to the business combination relate to the operations of the formerly private company formerly known as Concrete Pumping Holdings Inc unless otherwise indicated. For additional information, please see our 8K amendment that we filed today which includes the historical Concrete Pumping Holdings’, financial statements that we're discussing on this call as well as pro forma financial information for the Company that reflects the business combination. I would like to remind everyone that this call will be available for replay starting at 1:00 P.M. Eastern today. The webcast replay will also be available via the link provided in today's press release as well as on the Company's website and updated investor presentation incorporating, updated financial results and adjusted financial information, pro forma for acquisitions is also available on the website. Now I would like to turn the call over to the CEO of Concrete Pumping Holdings, Bruce Young. Bruce.

Thank you Cody and good morning everyone. It's a pleasure to be joining you. Today we will be discussing our results for the fourth quarter and fiscal year ended October 31, 2018. Since this is our first earnings call as a public company, I'd also like to introduce Concrete Pumping Holdings to the marketplace and review our growth strategy, which we believe will drive long-term shareholder value. For those of you that are new to the Company, I thought I would start with a brief introduction of our business founded in 1983 and headquartered in Denver, Colorado Concrete Pumping Holdings is a leading provider of concrete pumping services and concrete waste management services in the U.S. and UK. Operating under the only established national brands in each country. We provide concrete pumping services in the U.S. from a diversified footprint of 80 locations across 22 states under the brand Brundage-Bone and in the UK from 28 locations under the Camfaud brand. We believe we have approximately 10% and approximately 34% market shares respectively in the U.S. and in the UK. We also provide high-margin environmental waste management services through our high growth Eco-Pan brand. Our large fleet of approximately 945 company owned units of specialized equipment and over 650 highly trained operators position us to deliver concrete placement solutions that facilitates substantial labor cost savings to our customers or typically construction contractors. Our solutions also has shortened concrete placement times, enhanced worksite safety and improved construction quality relative to using alternative placement solutions such as wheelbarrows or cranes and buckets. Our business model is unique in that we do not take project risk and therefore have no bonding and surety requirements, which is in contrast to many other construction services company. Also we have no raw material exposure and we…

Thanks Bruce and good morning everyone. Before getting into the details, I'd like to remind everyone that we would refer to adjusted revenue pro forma for acquisitions and adjusted EBITDA pro forma for acquisitions both of which are non-GAAP financial measures. A reconciliation between our reported GAAP results and the non-GAAP results discussed can be found in our investor presentation posted on our website. Now turning to our 2018 full year results, as Bruce mentioned, we finished fiscal 2018 on a strong note as fourth quarter adjusted revenue pro forma for acquisitions increased 6% to $68.1 million. On a reported basis, revenue increased 13% to $67.4 million compared to $59.6 million in the year-ago quarter, largely driven by contributions from the acquisition of Richard O’Brien company as well as continued growth over Eco-Pan brand and market share gains in Brundage-Bone and Camfaud. All three of our business segments have strong fourth quarter and fiscal year reported 2018 results. The U.S. concrete pumping segment or Brundage-Bone saw reported revenue increase 11% for the fourth quarter and 9% for the full-year. Results were driven by the acquisition of Richard O’Brien companies, positive construction momentum in the first half of the year and primarily in the west and central regions as well as favorable winter conditions in the west region. As Bruce mentioned this was partially offset by adverse weather, mainly in the Texas and Oklahoma markets, in the fourth quarter. Many of these impacted projects have now kicked off in fiscal 2019. The UK segment or Camfaud increased reporting revenue by approximately 20% in the fourth quarter and 38% in fiscal 2018. Results were driven by the full year contribution in 2018 from the Reilly Concrete Pumping acquisition in July 2017, as well as increased market share from operating a broader footprint…

Thanks Iain. I think it's important to review the key elements of Concrete Pumping Holdings’ compelling growth strategy that we believe can drive long-term shareholder value. More detail around these growth strategies can be found in the updated investor presentation we posted to our website this morning. First, Eco-Pan is a high growth and high – and margin accretive business that we believe is under penetrated in the market place that only 3% to 4% penetration in the U.S. The brand has a large white space opportunity as well as the ability to grow by cross-selling its services across both Brundage-Bone and Camfaud’s customer base. Currently Eco-Pan only operates in 13 locations in the U.S. compared to Brundage-Bone’s 80 locations and we'll start expanding into the UK in the second quarter of fiscal 2019. Only 25% of the Eco-Pan’s business is currently with Brundage-Bone’s own pumping units. There are three key drivers we expect will increase Eco-Pan’s penetration with the first being violation avoidance. Eco-Pan provides a simple leak-proof solution that allows our contractor customers to be compliant with EPA and state regulations. The second driver is environmental protection, our high quality pans are far less likely to leak or spill than alternatives that easily that include messy with washout pits. And finally, Eco-Pan is a turnkey solution for contractors allowing them to focus on their core jobs. We believe Eco-Pan is the industry's most advanced and regulatory compliant turnkey solution which will drive increased adoption. This is coupled with Eco-Pan’s strong unit economics with an approximate 44% EBITDA margin, 54% unlevered ROI and a 1.9 year payback period per new route investment. Second, since our founding, we have successfully completed more than 45 acquisitions and created what we believe is the only concrete pumping business with national scale in…

Hey, Doug, we're ready to take questions now.

Thank you. We will now be conducting a question-and-answer session. [Operator Instructions] Our first question comes from the line of Alex Rygiel with B. Riley FBR. Please proceed with your question.

Good morning, Bruce and Iain. Congratulations on your first conference call.

Thank you.

Hey good morning.

Couple of random questions. First, Iain, you talked a little bit about some opportunities being pushed from the fourth quarter into the first quarter. Is there any way you can bracket the sales that might have been pushed from the fourth quarter into the first quarter? And secondly, were any of those projects cancel for any reason or should they all affectively be fully realized in this first quarter?

So the projects typically will push into the following year. I mean, depending on whether its incremental revenue in the first quarter is largely depending on the contractors’ ability to catch up. And historically we haven't seen this from our contractor, just with the labor constraint – this would become and let's see, additional revenue, but none of the projects were canceled. But we’ll see these projects come through in 2019, whether they’re incremental will largely depend on the contractors’ ability to catch up. And from a revenue perspective, it was probably around about $1.5 million in revenue.

Helpful. Thank you. And then you ran through the numbers kind of quickly there, but can we circle back to fourth quarter U.S. pumping and UK pumping and could you possibly break down what the price and volume mix of the growth was year-over-year?

Yes, I mean, across both the U.S. and UK pumping. I mean, the price increase you may have seen it on our investor deck this morning. And in the U.S. was about 2.5% on price and about 4% in the UK. In terms of the growth, it's quite close to 50/50 between price and volume.

Very helpful. And then can you expand a little bit upon your planned greenfield initiatives both in the Eco-Pan business as well as the pumping business for 2019, how many markets so on?

Yes. Alex, this is Bruce. So, currently with Brundage-Bone, we've been expanding into one greenfield market into Charlotte, North Carolina area, which is going quite well for us. We have some others in mind that are really just expanding our footprint in areas that we're currently in. With Eco-Pan, we're in the process of moving into six new locations, five of the six locations are locations that are currently Brundage-Bone locations. So we can leverage the Brundage-Bone sales and service teams. One would be in a market that's just outside of the current market would be basically running the satellite over southern California operation.

And can you remind us how long it takes those markets to sort of get up to a mature revenue sales contribution level?

It ranges anywhere from being able to be profitable within one to two months to, on the outside, four to five months. But largely, we get full utilization out of the first truck. It's usually somewhere between six months in a year.

Very helpful. And then, can you update us on the timing of when you might receive some of the high speed rail awards in the UK and when it might come through your P&L?

Yeah, so we're in the process of bidding most of the or the first phase of that project now and we expect to see some – we'll see spotted revenue throughout this year with significant revenue coming towards the end of this year.

Excellent. And a short update or comment there with regards to sort of your 2019 outlook, can you maybe go into a little bit more detail there with regards to your views on sales and EBITDA in 2019.

Yeah, so we published it in our prior investment deck and the outlook for 2019 there was, we don’t break this down quarterly. And you'll have seems from some of the historic information with the October fiscal year end and we usually ramp-up through the quarters and the expectation is the same for 2019 as we go through Q1 to Q4 but Q1 coming into the early winter months.

So you're still comfortable with kind of a revenue in that $270 million to $275 million range and EBITDA, give or take $95 million?

Yes.

Perfect. I'll get back in queue. Thank you very much.

Thank you.

Thanks Alex.

[Operator Instructions] There are no further questions in the queue. I'd like to hand the call back to Mr. Young for closing comments.

Thanks, Doug. We'd like to thank everyone for listening to today's call. I'd also like to quickly thank the entire Concrete Pumping Holdings organization for their continued focus and dedication, especially during the exciting transition to become a public company. We look forward to speaking with you when we report our first quarter results. Thank you.

Ladies and gentlemen, this does conclude today teleconference. Thank you for your participation. You may disconnect your lines at this time and have a wonderful day.