Construction Partners, Inc. reports news on its vertically integrated civil infrastructure business, which constructs, repairs and maintains roadways and other surface infrastructure in Sunbelt markets. The company operates through local platforms in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas, supported by hot-mix asphalt plants, aggregate facilities and liquid asphalt terminals.
Recurring updates include quarterly and annual results, backlog, fiscal outlook, investor conference participation and acquisitions that expand paving, asphalt and sitework capacity in regional markets. Company announcements also describe public-sector work for local and state roads, interstate highways, airport runways and bridges, as well as private paving and sitework for commercial, industrial and residential developments.
Construction Partners, Inc. (NASDAQ: ROAD) has announced the acquisition of Robinson Paving Company, based in Columbus, Georgia. This strategic move expands CPI's operations into the Columbus metro area, adding three hot-mix asphalt plants and related crews and equipment to their portfolio. The acquisition aligns with CPI's growth strategy in Georgia, leveraging Robinson's skilled workforce and the area's growing economy supported by Fort Moore. Fred J. (Jule) Smith, III, CPI's President and CEO, emphasized the importance of this market expansion and the natural progression of their growth in Georgia. The acquired business will continue to operate under the Robinson Paving Company name as a new branded division of CPI's Georgia platform company, The Scruggs Company.
Construction Partners, a civil infrastructure firm (NASDAQ: ROAD), will release its fiscal Q3 2024 results on August 9, 2024, before market open. The company will host a conference call at 10:00 AM ET to discuss these results. Participants can join by phone or webcast, with replay options available until August 16, 2024. The call details and webcast can be accessed via the company's Investor Relations website.
Construction Partners (NASDAQ: ROAD) has acquired Hudson Paving, expanding its operations in the Sandhills region of North Carolina. The acquisition includes a hot-mix asphalt plant and associated crews and equipment, enhancing CPI's service capabilities in the Pinehurst and Southern Pines areas. Fred J. Smith, III, CEO of CPI, highlighted the strategic fit of this bolt-on acquisition for their North Carolina platform company, Fred Smith Company. The integration aims to capitalize on the region's rapid growth and aligns culturally with CPI's values, welcoming new employees into the fold.
Construction Partners (NASDAQ: ROAD) will participate in the Baird 2024 Global Consumer, Technology & Services Institutional Investors Conference on June 5, 2024. The management team is set to meet with investors and will host a 'Fire Side Chat' at 3:10 p.m. Eastern Time, which will be broadcast live online via their website. This event aims to engage investors and provide insights into the company's operations and future plans.
Construction Partners, Inc. (NASDAQ: ROAD) reported a strong Q2 FY24 with a 14% revenue increase, 45% rise in Adjusted EBITDA, and a record backlog of $1.79 billion. The company raised its FY24 outlook, citing ongoing demand for infrastructure projects. Revenues grew to $371.4 million, gross profit increased by 48%, and net loss decreased. General and administrative expenses remained stable. Adjusted EBITDA was $29.5 million. Project backlog increased to $1.79 billion. The company is confident in its growth trajectory and aims to enhance shareholder value.
Construction Partners, Inc. (NASDAQ: ROAD) has acquired the asphalt manufacturing and construction operations of Sunbelt Asphalt Surfaces, Inc., expanding into North Georgia along the high-growth Interstate 85 corridor. The acquisition includes an active hot-mix asphalt plant in Auburn, Georgia, and a greenfield hot-mix asphalt plant in Commerce, Georgia. This strategic move aligns with CPI's focus on the Interstate 85 corridor due to economic growth and funding programs.
Summary not available.
Summary not available.
Summary not available.
Summary not available.