Constr Partners Stock Price, News & Analysis

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.

Construction Partners, Inc. (NASDAQ: ROAD) reported strong financial results for the fiscal year ended September 30, 2021, with revenues reaching $910.7 million, a 15.9% increase from fiscal 2020. The fourth-quarter revenue growth was 24%, supported by a record project backlog of $966 million.

Despite challenges like increased workdays lost due to wet weather and supply chain disruptions, the company expects fiscal 2022 revenues between $1,075 million and $1,150 million, indicating strong growth potential fueled by ongoing demand and acquisitions.

Construction Partners, Inc. (NASDAQ: ROAD) will release its fiscal 2021 fourth quarter and full-year earnings on November 23, 2021, before the market opens. A conference call is scheduled for the same day at 9:00 a.m. Central Time to discuss the results. Participants can join via phone or webcast, with dial-in details provided. The company focuses on civil infrastructure, operating across five southeastern states, and has multiple facilities for asphalt and aggregate production.

Construction Partners, Inc. (NASDAQ: ROAD) announced its acquisition of J. Miller Construction Inc., a Pensacola-based grading and sitework contractor, enhancing its construction services in the Florida Panhandle. This strategic acquisition aims to strengthen the company's market presence and operational capabilities in the rapidly growing area, following its initial entry into Pensacola earlier in 2021. The move adds a skilled workforce to its team and is expected to support the company's ongoing projects across state roadways and private sector developments.

Construction Partners, Inc. (NASDAQ: ROAD) announced the acquisition of King Asphalt, Inc., a full-service hot-mix asphalt and paving company based in Liberty, South Carolina. King operates three asphalt plants in the Greenville metro area and serves various public, commercial, and residential projects. The acquisition aims to enhance Construction Partners' operations in South Carolina's rapidly growing Upstate region, providing a strategic platform for future expansion. The company operates 56 asphalt plants and focuses primarily on public sector projects, including roadways and airport runways.

Construction Partners, Inc. (NASDAQ: ROAD) announced the acquisition of C.K. Earnhardt & Son in Albemarle, North Carolina, enhancing its operations in the greater Charlotte area. This acquisition adds a hot-mix asphalt plant, personnel, and equipment, positioning the Company for growth in a region with favorable demographic trends and strong infrastructure funding. The Company operates across five southeastern states, focusing on public and private sector projects including roadways and residential developments.

Construction Partners, Inc. (NASDAQ: ROAD) reported a strong fiscal quarter ending June 30, 2021, with revenues of $261.7 million, a 20.6% increase year-over-year. Despite achieving record project backlog of $823 million, net income dropped to $9.3 million from $15.8 million due to rising administrative costs and supply chain disruptions. Adjusted EBITDA also fell to $29.0 million. The company revised its fiscal 2021 outlook, projecting revenue between $940 million and $960 million, a decrease from previous estimates. Investments in people and technology aim to support future growth amidst current challenges.

Construction Partners, Inc. (NASDAQ: ROAD) announced the acquisition of Good Hope Contracting Co., Inc. and related entities, strengthening its operations in Alabama. The deal adds four hot-mix asphalt plants, four aggregate facilities, and a fleet of trucks and equipment. Additionally, the company acquired Daurity Springs Quarry in North Carolina, enhancing its vertical integration strategy. This expansion is expected to improve market share, project execution, and sourcing capabilities. The acquisitions will contribute to growth in both Alabama and North Carolina, welcoming over 180 new employees.