Welcome to our dedicated page for Constr Partners news (Ticker: ROAD), a resource for investors and traders seeking the latest updates and insights on Constr Partners stock.
Construction Partners, Inc. (NASDAQ: ROAD) is a vertically integrated civil infrastructure company that focuses on the construction, repair and maintenance of surface infrastructure in local markets across the Sunbelt. News about Construction Partners, Inc. often centers on its roadway, highway, bridge and airport runway projects, as well as corporate developments that affect its operations in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas.
Investors and industry followers can use the ROAD news feed to monitor company announcements about quarterly and annual financial results, preliminary financial information, and outlook ranges for upcoming fiscal years. The company regularly issues press releases about its earnings release schedule and related conference calls, providing details on how to access webcasts and telephonic replays.
Another key category of news for Construction Partners, Inc. involves acquisitions and expansion of its footprint. The company has reported transactions such as acquiring hot-mix asphalt plants, construction operations and related crews in the Houston, Texas metro area and acquiring P&S Paving, Inc. in Florida. These releases describe how new plants, crews and equipment are integrated into existing platform companies and how they extend the company’s reach in high-growth Sunbelt markets.
Readers can also expect updates on analyst events, such as the company’s Analyst Day and facility tours, where senior leadership discusses strategic initiatives, growth priorities and business outlook. For anyone tracking ROAD stock or the highway, street and bridge construction industry in the Sunbelt, this news page provides a centralized view of Construction Partners, Inc.’s public communications and operational milestones.
Construction Partners, Inc. (NASDAQ: ROAD) has acquired Ferebee Corporation, a hot-mix asphalt and paving company based in Charlotte, North Carolina. This acquisition enables CPI to extend its geographic reach into western North Carolina, specifically the rapidly growing Charlotte/Rock Hill region. The move is seen as a platform acquisition that will enhance revenue and market share. CEO Fred J. Smith emphasized the strategic importance of this investment alongside a recent sale in Nashville, both expected to be accretive to earnings in the current fiscal year.
Construction Partners, Inc. (NASDAQ: ROAD) reported a strong fiscal year 2022, with revenue increasing to $1.30 billion, a 43% rise compared to FY2021. Net income grew 6% to $21.4 million, while Adjusted EBITDA reached $111.2 million, up 23%. Q4 results showed revenue at $393.1 million, a 41% increase, and Adjusted EBITDA up 45%. The company announced a record backlog of $1.41 billion and projected FY2023 revenue between $1.4 billion and $1.55 billion. The outlook reflects confidence in ongoing growth amid supply chain challenges.
Construction Partners, Inc. (NASDAQ: ROAD) will release its fiscal 2022 fourth quarter and full year results on November 22, 2022, before the market opens. A conference call will follow at 9:00 a.m. Central Time to discuss the results. The call can be accessed via phone at (412) 902-0003 or through a webcast on the Company's Investor Relations website. Construction Partners specializes in civil infrastructure and operates primarily in the southeastern United States, focusing on public sector projects such as roadways, highways, and bridges.
Construction Partners, Inc. (NASDAQ: ROAD), a civil infrastructure company operating in the southeastern U.S., will attend the Baird 2022 Global Industrial Conference on November 8 and 9, 2022. Management will participate in a live Fire Side Chat discussion on November 8 at 4:05 PM ET, accessible via the company's website. The firm specializes in constructing and maintaining roadways, with a focus on publicly funded projects, including highways, airport runways, and bridges. For more details, visit www.constructionpartners.net.
Construction Partners, Inc. (NASDAQ: ROAD) provided an update on operations following Hurricane Ian's impact across Florida, South Carolina, and North Carolina. CEO Fred J. (Jule) Smith, III stated that while their facilities did not suffer significant damage, operations were disrupted in late September to ensure employee safety. With the storm now passed, the company has resumed work and is prepared to assist in local recovery efforts. The company remains optimistic about new project opportunities in the affected markets.
Construction Partners, Inc. (NASDAQ: ROAD) has launched operations at a new hot-mix asphalt plant in Benson, North Carolina, aimed at enhancing its presence in adjacent markets. This strategic expansion targets the growing suburbs of Johnston and Harnett County in the Raleigh-Durham area, contributing to the company's long-term growth objectives. The company emphasizes that such greenfield initiatives are vital for organic growth and shareholder value, while continuing to explore further investment opportunities in the Southeast market.
Construction Partners, Inc. (NASDAQ: ROAD) will participate in the Raymond James 2022 Diversified Industrials Conference on August 23, 2022. This company operates in civil infrastructure, focusing on roadway construction and maintenance across five southeastern states, with significant public sector projects. It has 59 hot-mix asphalt plants and other facilities supporting its operations. The management team aims to engage with investors during this conference.
Construction Partners, Inc. (NASDAQ: ROAD) reported strong Q3 results for FY2022, with revenues of $380.3 million, a 45% increase year-over-year. Net income rose 30% to $12.2 million, while Adjusted EBITDA also increased by 30% to $37.6 million. The company achieved a record project backlog of $1.33 billion, up from $822.9 million last year. CPI raised its full-year revenue outlook to $1.25-$1.28 billion, citing robust demand and inflationary pressures. CEO Fred Smith highlighted the resilience of the business model amid supply chain challenges and workforce growth.
Construction Partners, Inc. (NASDAQ: ROAD) announced its acquisition of Southern Asphalt, Inc. on August 1, 2022, expanding its operations into the Myrtle Beach metro area of South Carolina. This acquisition adds two hot-mix asphalt plants and over 200 employees, positioning the company in one of the fastest-growing markets in the U.S. CEO Fred J. (Jule) Smith, III emphasized the opportunity to bid on a diverse mix of public and commercial projects. The company continues to operate across five southeastern states, focusing primarily on publicly funded projects.
Construction Partners, Inc. (NASDAQ: ROAD) will release its fiscal 2022 third quarter results on August 5, 2022, before market opening. A conference call to discuss the results is scheduled for 9:00 a.m. Central Time on the same day, accessible by phone at (412) 902-0003 or via webcast on the Company's Investor Relations website. The company operates across five southeastern states with 57 hot-mix asphalt plants and focuses on public projects, including roadways and bridges. For more details, visit their website.