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. 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) announced its participation in the Raymond James Institutional Investors Conference on March 6-7, 2023. The management team will engage with investors, including a live broadcast of their "Fire Side Chat" on March 7 at 2:15 p.m. ET. The company, which operates across six southeastern states, specializes in civil infrastructure, focusing on constructing and maintaining roadways, bridges, and airport runways. A significant portion of its projects is publicly funded, emphasizing their role in regional infrastructure development.
Construction Partners, Inc. (NASDAQ: ROAD) reported a 20% increase in revenue for Q1 FY2023, totaling $341.8 million, compared to $285.0 million in Q1 FY2022. The company boasts a record backlog of $1.47 billion. Despite challenges like high precipitation affecting costs, CPI's earnings outlook was revised upward for FY2023, with projected revenue between $1.475 billion and $1.550 billion. Net income for the quarter was $1.9 million, down from $5.5 million last year, while Adjusted EBITDA rose to $27.6 million, up 4.7% year-over-year.
Construction Partners, Inc. (NASDAQ: ROAD) is set to announce its fiscal 2023 first quarter results on February 9, 2023, following market close. A conference call to discuss the results is scheduled for February 10, 2023, at 9:00 a.m. Central Time. Participants can join via phone or webcast, with access details provided. The company, active in six southeastern states, focuses on civil infrastructure, including public sector projects like roadways, highways, and bridges, as well as private sector endeavors such as sitework for commercial developments.
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.