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) 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.
Construction Partners, Inc. (NASDAQ: ROAD) announced its participation in two investor conferences in June 2022: Baird's Global Consumer, Technology & Services Conference on June 6-7 and Stifel's Cross Sector Insight Investor Conference on June 8. A live broadcast of the company's 'Fire Side Chat' will occur on June 6 at 2:35 PM ET, accessible via their website. Construction Partners operates 57 hot-mix asphalt plants and focuses on public projects, including local roadways, highways, and airport runways. For more information, visit www.constructionpartners.net.
Construction Partners, Inc. (NASDAQ: ROAD) reported a 36% revenue increase in Q2 2022, totaling $243.4 million, driven by both organic (19%) and acquisitive (17%) growth. The firm’s project backlog reached a record $1.28 billion, with improving backlog margins expected to yield higher future profits. However, the company faced a net loss of $9.4 million due to inflationary pressures from rising energy costs. The full-year revenue outlook is projected between $1.15 billion and $1.20 billion, anticipating ongoing demands from infrastructure projects.
Construction Partners, Inc. (NASDAQ: ROAD), a civil infrastructure company, will release its fiscal 2022 second quarter results on May 6, 2022, before market open. A conference call is scheduled for the same day at 9:00 a.m. Central Time to discuss the results. The company operates in five southeastern states, focusing on public projects such as roads and bridges, alongside private sector work. With 57 hot-mix asphalt plants and 14 aggregate facilities, Construction Partners emphasizes a vertically integrated approach to infrastructure construction.
Construction Partners, Inc. (NASDAQ: ROAD) has acquired the operational assets of GAC Contractors, Inc., including a hot-mix asphalt plant in Panama City, Florida. This marks the third acquisition in the Florida panhandle within two years, reinforcing the company's commitment to the region. The acquisition enhances operational resources and capabilities, with over 200 former GAC employees joining the team, which is critical for attracting talent. The company operates across five southeastern states and relies heavily on publicly funded projects.
Construction Partners, Inc. (NASDAQ: ROAD) has acquired Southern Asphalt, Inc., a leading asphalt paving contractor in Wilmington, North Carolina. This strategic acquisition, announced on March 7, 2022, allows Construction Partners to penetrate a dynamic new market and enhance its expertise with a skilled team. The Company operates across five southeastern states with a focus on public infrastructure projects. Southern Asphalt is recognized for its strong presence in the commercial paving sector, which is expected to contribute positively to Construction Partners' growth.
Construction Partners, Inc. (NASDAQ: ROAD) reported robust fiscal Q1 2022 results with revenue of $285 million, a 49.3% year-over-year increase. However, net income fell by 30% to $5.5 million. The gross profit increased by 7.7% to $33 million, and Adjusted EBITDA rose 12.2% to $26.4 million. The company's project backlog reached a record $1.09 billion, reflecting strong demand for infrastructure services. The company anticipates fiscal 2022 revenue between $1.075 billion and $1.150 billion, supported by federal infrastructure investments.
Construction Partners, Inc. (NASDAQ: ROAD) announced it will release its fiscal 2022 first quarter results on February 4, 2022, before the market opens. A conference call is scheduled for the same day at 9:00 a.m. Central Time to discuss the results. Investors can access the call via phone at (412) 902-0003 or through a webcast at the company's investor relations website. The company operates across five southeastern states, specializing in public and private civil infrastructure projects, including roadways and airport runways.