Construction Partners forecasts $4.18B–$4.28B FY2027 sales
Management anticipates approximately 15% fiscal 2027 growth in revenue and Adjusted EBITDA at the guidance midpoints, with 6% to 8% organic revenue growth.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Construction Partners, Inc. (ROAD) announced preliminary fiscal 2026 results and fiscal 2027 outlook ranges. Fiscal 2026 revenue is expected at $3.660 billion to $3.680 billion, up approximately 30% from $2.812 billion in fiscal 2025; net income at $141.5 million to $142.5 million, up approximately 40% from $101.8 million. Adjusted EBITDA is expected at $520.0 million to $524.0 million, up approximately 23% from $423.7 million; Adjusted EBITDA margin is expected at 14.21% to 14.24%, versus 15.1% in fiscal 2025.
Fiscal 2027 outlook includes revenue of $4.175 billion to $4.275 billion and Adjusted EBITDA of $585.0 million to $620.0 million, with approximately 15% growth in both at the midpoint and 6% to 8% organic revenue growth. Management cited wet weather and rapid diesel-cost increases as fourth-quarter profitability headwinds. The independent accounting firm has not audited, reviewed, compiled or performed procedures on these preliminary results; actual results may change during year-end closing and review.
The company completed the acquisition of Piedmont Paving, whose operations, including a hot-mix asphalt plant and more than 110 employees, are now part of Georgia platform company The Scruggs Company. Fiscal 2026 also included seven acquisitions and four new greenfield locations.
3 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointFiscal 2026 preliminary revenue: approximately 30% above fiscal 2025.
- Minor pointFiscal 2026 preliminary net income: approximately 40% above fiscal 2025.
- Minor pointFiscal 2026 preliminary Adjusted EBITDA: approximately 23% above fiscal 2025.
Negative
- None.
Filing Explained
The filing reports the Piedmont Paving acquisition as completed but gives no purchase consideration or payment terms, so its cost and financing effect cannot be sized.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Fiscal 2026 revenue: $3.660 billion to $3.680 billion
Fiscal 2026 net income: $141.5 million to $142.5 million
Fiscal 2026 Adjusted EBITDA: $520.0 million to $524.0 million
+4 more
7 metrics
Fiscal 2026 revenue
$3.660 billion to $3.680 billion
Preliminary; approximately 30% above $2.812 billion in fiscal 2025
Fiscal 2026 net income
$141.5 million to $142.5 million
Preliminary; approximately 40% above $101.8 million in fiscal 2025
Fiscal 2026 Adjusted EBITDA
$520.0 million to $524.0 million
Preliminary; approximately 23% above $423.7 million in fiscal 2025
Fiscal 2026 Adjusted EBITDA margin
14.21% to 14.24%
Preliminary; compared with 15.1% in fiscal 2025
Fiscal 2027 revenue outlook
$4.175 billion to $4.275 billion
Fiscal 2027 outlook; approximately 15% growth at the midpoint
Fiscal 2027 net income outlook
$170.9 million to $180.8 million
Fiscal 2027 outlook
Fiscal 2027 Adjusted EBITDA outlook
$585.0 million to $620.0 million
Fiscal 2027 outlook; approximately 15% growth at the midpoint
Key Terms
Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, greenfield locations
4 terms
Adjusted EBITDA financial
"Adjusted EBITDA represents net income before"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Adjusted EBITDA margin financial
"Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenues"
Adjusted EBITDA margin shows how much profit a company makes from its core operations, expressed as a percentage of its total revenue, after removing certain one-time or unusual expenses and income. It helps investors understand the company's true earning ability from regular business activities, making it easier to compare performance over time or with other companies. Think of it as measuring the efficiency of a business in turning sales into profits, excluding irregular adjustments.
Adjusted net income financial
"Adjusted net income represents net income before"
Adjusted net income is a company's reported profit after removing unusual, one-time, or non-operational items so the number reflects the business’s regular earning power. Investors use it like a cleaned-up scorecard — similar to judging a player’s season performance without a few fluke games — to compare companies or assess trends without being misled by rare gains or losses that won’t affect future cash flow.
greenfield locations technical
"established four new greenfield locations"
Greenfield locations are new sites developed from scratch on previously unused land or markets where a company has no existing operations. For investors, greenfield projects signal expansion and potential future revenue but also require larger upfront spending and carry higher execution and regulatory risk — like building a new factory in an empty field versus reopening an old plant, with greater upside if successful but more uncertainty along the way.
Earnings Snapshot
Revenue: $3.660 billion to $3.680 billion · Guidance included
Preliminary fiscal 2026 results and fiscal 2027 outlook
Revenue
$3.660 billion to $3.680 billion
Approximately 30% increase from $2.812 billion in fiscal 2025
Net income
$141.5 million to $142.5 million
Approximately 40% increase from $101.8 million in fiscal 2025
Adjusted EBITDA
$520.0 million to $524.0 million
Approximately 23% increase from $423.7 million in fiscal 2025
Adjusted EBITDA margin
14.21% to 14.24%
Compared with 15.1% in fiscal 2025
Guidance
Fiscal 2027 outlook: revenue $4.175 billion to $4.275 billion; net income $170.9 million to $180.8 million; Adjusted net income $174.6 million to $185.4 million; Adjusted EBITDA $585.0 million to $620.0 million; Adjusted EBITDA margin 14.0% to 14.5%.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What revenue did ROAD expect for fiscal 2026?
ROAD's preliminary fiscal 2026 revenue is expected to be $3.660 billion to $3.680 billion, approximately 30% above fiscal 2025 revenue of $2.812 billion. The company also expects net income of $141.5 million to $142.5 million, up approximately 40% from $101.8 million.
What is ROAD's fiscal 2027 revenue and EBITDA outlook?
ROAD's fiscal 2027 outlook calls for revenue of $4.175 billion to $4.275 billion and Adjusted EBITDA of $585.0 million to $620.0 million. Management anticipates approximately 15% growth in each at the midpoint and organic revenue growth of approximately 6% to 8%.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 4, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||||||||
290 Healthwest Drive, Suite 2 Dothan, Alabama 36303 (Address of principal executive offices) (ZIP Code) | ||||||||||||||
(334) 673-9763 (Registrant’s telephone number, including area code) | ||||||||||||||
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||||||||
| Nasdaq Texas, LLC | ||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On November 5, 2026, Construction Partners, Inc. (the “Company”) issued a press release announcing certain preliminary financial results for the fiscal year ended September 30, 2026 and a preliminary outlook for the fiscal year ending September 30, 2027. A copy of the press release is furnished as Exhibit 99.1hereto, and the information contained in Exhibit 99.1 is incorporated herein by reference.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act unless specifically identified therein as being incorporated therein by reference.
Item 7.01. Regulation FD Disclosure.
On November 4, 2026, the Company issued a press release announcing its completion of an acquisition transaction. A copy of the press release is furnished as Exhibit 99.2 hereto, and the information contained in Exhibit 99.2 is incorporated herein by reference.
The information furnished pursuant to this Item 7.01, including Exhibit 99.2, shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act and will not be incorporated by reference into any registration statement filed under the Securities Act, unless specifically identified therein as being incorporated therein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||||||||
| 99.1** | Press release dated November 5, 2026 (financial results and outlook) | |||||||||||||
| 99.2** | Press release dated November 4, 2026 (acquisition) | |||||||||||||
| 104* | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||||||||
* Filed herewith.
** Furnished herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CONSTRUCTION PARTNERS, INC. | ||||||||
| Date: November 5, 2026 | By: | /s/ Gregory A. Hoffman | ||||||
| Gregory A. Hoffman | ||||||||
| Senior Vice President and Chief Financial Officer | ||||||||
Exhibit 99.1
 | NEWS RELEASE | |||||||
Construction Partners, Inc. Announces Preliminary Fiscal 2026 Financial Results and Introduces Fiscal 2027 Outlook
DOTHAN, AL, November 5, 2026 – Construction Partners, Inc. (NASDAQ: ROAD) (“CPI” or the “Company”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways in local markets throughout the Sunbelt, today announced preliminary financial results for fiscal year 2026 and introduced fiscal year 2027 outlook ranges.
Fred J. (Jule) Smith, III, the Company’s President and Chief Executive Officer, said, “Today, we are announcing our preliminary fiscal 2026 financial results and introducing our fiscal 2027 outlook, reflecting our expectations for continued growth at CPI. Fiscal 2026 was a successful year for CPI, highlighted by record financial performance and significant year-over-year growth, with revenue increasing approximately 30%, net income rising approximately 40%, and Adjusted EBITDA growing approximately 23%. These results reflect the effective execution of our organic and acquisition growth strategies. During the year, we completed seven acquisitions across four of our high-growth Sunbelt states, established four new greenfield locations, and generated organic revenue growth of 7%. These accomplishments strengthened our local market positions, expanded our operating platform, and further positioned CPI for long-term growth.”
Smith continued, “I was particularly proud of our team’s productivity and disciplined execution despite two primary external headwinds during the fourth quarter. Unusually wet weather in July across several of our largest markets, together with the unprecedented rapid pace and magnitude of increases in diesel fuel costs, affected profitability as we exited the fiscal year. Despite these near-term challenges, our growth strategy remains firmly intact, and we are pleased to introduce our fiscal 2027 outlook, which anticipates approximately 15% growth in both revenue and Adjusted EBITDA at the midpoint of our guidance ranges.”
Preliminary Fiscal 2026 Financial Results
Revenue in fiscal 2026 is expected to be in the range of $3.660 billion to $3.680 billion, an increase of approximately 30% compared to $2.812 billion in fiscal 2025.
Net income in fiscal 2026 is expected to be in the range of $141.5 million to $142.5 million, an increase of approximately 40% compared to $101.8 million in fiscal 2025.
Adjusted net income(1) in fiscal 2026 is expected to be in the range of $153.3 million to $154.9 million, an increase of approximately 26% compared to $122.0 million in fiscal 2025.
Adjusted EBITDA(1) in fiscal 2026 is expected to be in the range of $520.0 million to $524.0 million, an increase of approximately 23% compared to $423.7 million in fiscal 2025.
Adjusted EBITDA margin(1) in fiscal 2026 is expected to be in the range of 14.21% to 14.24%, compared to 15.1% in fiscal 2025.
The Company’s independent registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to the above preliminary financial information or completed its audit of the Company’s financial statements for the fiscal year ended September 30, 2026. The Company’s actual results may differ from these estimates as a result of the Company’s year-end closing procedures, review adjustments and other developments that may arise between now and the time the Company’s financial results for the fiscal year ended September 30, 2026 are finalized.
Introducing Fiscal Year 2027 Outlook
The Company’s outlook for fiscal year 2027 with regard to revenue, net income, Adjusted net income, Adjusted EBITDA and Adjusted EBITDA margin is as follows:
(1) Adjusted net income, Adjusted EBITDA and Adjusted EBITDA margin are financial measures not presented in accordance with generally accepted accounting principles (“GAAP”). Please see “Reconciliation of Non-GAAP Financial Measures” at the end of this press release.
•Revenue in the range of $4.175 billion to $4.275 billion
•Net income in the range of $170.9 million to $180.8 million
•Adjusted net income(1) in the range of $174.6 million to $185.4 million
•Adjusted EBITDA(1) in the range of $585.0 million to $620.0 million
•Adjusted EBITDA margin(1) in the range of 14.0% to 14.5%
Smith commented, “Our fiscal 2027 outlook anticipates substantial growth in both revenue and Adjusted EBITDA, including approximately 6% to 8% organic revenue growth, as we continue to expand our operating platform and execute our long-term growth strategy. Looking beyond the first half of fiscal 2027, we see two primary catalysts for meaningful margin improvement: the continued integration of our fiscal 2026 acquisitions and the diminishing impact of elevated diesel fuel costs. As we move through the second half of fiscal 2027, we expect to benefit from completing lower-margin projects in our acquired backlog and replacing them with higher-margin work, while progressively incorporating increased diesel fuel costs into project pricing through our cost pass-through operating model. Additionally, greater economic certainty and improving conditions in residential and commercial construction markets could provide further opportunities for margin expansion.
“Importantly, our three strategic margin improvement levers – building better markets, enhancing vertical integration, and increasing operational scale – remain fundamental to our long-term profitability objectives. Supported by our expanding Sunbelt footprint, differentiated operating model, and disciplined approach to capital allocation, we continue to build momentum. Just one month into fiscal 2027, we have already completed three strategic acquisitions, further strengthening our operating platform and growth opportunities. We remain confident in our ability to deliver sustained growth, margin expansion, and long-term shareholder value creation.”
Conference Call
The Company will conduct a conference call on Thursday, November 19, 2026 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) to discuss financial and operating results for the fiscal quarter and year ended September 30, 2026. To access the call live by phone, dial (412) 902-0003 and ask for the Construction Partners call at least 10 minutes prior to the start time. A webcast of the call will also be available live and for later replay on the Company’s Investor Relations website at www.constructionpartners.net.
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating in local markets throughout the Sunbelt in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminals, the Company focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words such as “seek,” “continue,” “estimate,” “predict,” “potential,” “targeting,” “could,” “might,” “may,” “will,” “expect,” “should,” “anticipate,” “intend,” “project,” “outlook,” “believe,” “plan” and similar expressions or their negative forms. These forward-looking statements include, among others, statements regarding the Company’s expected revenue, net income, Adjusted Net Income, Adjusted EBITDA, and Adjusted EBITDA Margin for the fiscal year ended September 30, 2026, the Company’s fiscal year 2027 outlook and the Company’s business strategy. These and other forward-looking statements are based on management’s current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Important factors could cause actual results to differ materially from those expressed in the forward-looking statements, including, among others: the preliminary financial information remaining subject to changes and finalization based upon management’s ongoing review of results for the fiscal year ended September 30, 2026 and the completion of all year-end closing procedures; the Company’s ability to successfully manage and integrate acquisitions; failure to realize the expected economic benefits of acquisitions, including future levels of revenues
being lower than expected and costs being higher than expected; failure or inability to implement growth strategies in a timely manner; declines in public infrastructure construction and reductions in government funding, including the funding by transportation authorities and other state and local agencies; risks related to the Company’s operating strategy; competition for projects in the Company’s local markets; risks associated with the Company’s capital-intensive business; government requirements and initiatives, including those related to funding for public or infrastructure construction, land usage and environmental, health and safety matters; unfavorable economic conditions and restrictive financing markets; the Company’s ability to obtain sufficient bonding capacity to undertake certain projects; the Company’s ability to accurately estimate the overall risks, requirements or costs when it bids on or negotiates contracts that are ultimately awarded to the Company; the cancellation of a significant number of contracts or the Company’s disqualification from bidding for new contracts; risks related to adverse weather conditions; the Company’s substantial indebtedness and the restrictions imposed on the Company by the terms thereof; the Company’s ability to maintain favorable relationships with third parties that supply the Company with equipment and essential supplies; the Company’s ability to retain key personnel and maintain satisfactory labor relations; property damage, results of litigation and other claims and insurance coverage issues; risks related to the Company’s information technology systems and infrastructure; the Company’s ability to maintain effective internal control over financial reporting; and the other risks, uncertainties and factors set forth in the Company’s most recent Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K and other reports the Company files with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, or other changes affecting such statements, except to the extent required by applicable law.
Contact:
Rick Black
Investor Relations
ROAD@DennardLascar.com
(713) 529-6600
- Financial Statements Follow -
Reconciliation of Non-GAAP Financial Measures
Adjusted EBITDA represents net income before, as applicable from time to time, (i) interest expense, net, (ii) provision (benefit) for income taxes, (iii) depreciation, depletion, accretion and amortization, (iv) share-based compensation expense, (v) loss on the extinguishment of debt, and (vi) nonrecurring expenses related to transformative acquisitions, which management considers to include transactions of a size that would require clearance under federal antitrust laws. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenues for each period. Adjusted net income represents net income before (i) nonrecurring expenses related to transformative acquisitions, which management considers to include transactions of a size that would require clearance under federal antitrust laws, and (ii) nonrecurring fees associated with financing arrangements incurred in connection with transformative acquisitions. These metrics are supplemental measures of our operating performance that are neither required by, nor presented in accordance with, GAAP. These measures have limitations as analytical tools and should not be considered in isolation or as an alternative to net income or any other performance measure derived in accordance with GAAP as an indicator of our operating performance. We present Adjusted EBITDA, Adjusted EBITDA margin and Adjusted net income because management uses these measures as key performance indicators, and we believe that securities analysts, investors and others use these measures to evaluate companies in our industry. Our calculation of Adjusted EBITDA, Adjusted EBITDA margin and Adjusted net income may not be comparable to similarly named measures reported by other companies. Potential differences may include differences in capital structures, tax positions and the age and book depreciation of intangible and tangible assets.
The following tables present a reconciliation of net income, the most directly comparable measure calculated in accordance with GAAP, to Adjusted EBITDA (with the resulting calculation of Adjusted EBITDA margin) for the applicable periods.
Construction Partners, Inc.
Net Income to Adjusted EBITDA Reconciliation
Preliminary Fiscal Year 2026 Financial Results
(in thousands, except percentages)
| Low | High | ||||||||||
| Net income | $ | 141,500 | $ | 142,500 | |||||||
| Interest expense, net | 111,250 | 111,950 | |||||||||
| Provision for income taxes | 46,250 | 46,550 | |||||||||
| Depreciation, depletion, accretion and amortization | 177,750 | 178,350 | |||||||||
| Share-based compensation expense | 28,500 | 29,150 | |||||||||
| Transformative acquisition expenses | 14,750 | 15,500 | |||||||||
| Adjusted EBITDA | $ | 520,000 | $ | 524,000 | |||||||
| Revenues | $ | 3,660,000 | $ | 3,680,000 | |||||||
| Adjusted EBITDA margin | 14.21 | % | 14.24 | % | |||||||
Construction Partners, Inc.
Net Income to Adjusted EBITDA Reconciliation
Fiscal Year 2027 Outlook
(in thousands, except percentages)
| Low | High | ||||||||||
| Net income | $ | 170,850 | $ | 180,825 | |||||||
| Interest expense, net | 114,400 | 123,000 | |||||||||
| Provision for income taxes | 55,805 | 59,175 | |||||||||
| Depreciation, depletion, accretion and amortization | 192,945 | 201,000 | |||||||||
| Share-based compensation expense | 46,000 | 50,000 | |||||||||
| Transformative acquisition expenses | 5,000 | 6,000 | |||||||||
| Adjusted EBITDA | $ | 585,000 | $ | 620,000 | |||||||
| Revenues | $ | 4,175,000 | $ | 4,275,000 | |||||||
| Adjusted EBITDA margin | 14.0 | % | 14.5 | % | |||||||
The following tables present a reconciliation of net income, the most directly comparable measure calculated in accordance with GAAP, to Adjusted net income for the periods presented:
Construction Partners, Inc.
Net Income to Adjusted Net Income Reconciliation
Preliminary Fiscal Year 2026 Financial Results
(unaudited, in thousands)
| Low | High | ||||||||||
| Net income | $ | 141,500 | $ | 142,500 | |||||||
| Transformative acquisition expenses | 14,750 | 15,500 | |||||||||
| Financing fees related to transformative acquisition | 850 | 950 | |||||||||
| Tax impact due to above reconciling items | (3,827) | (4,038) | |||||||||
| Adjusted net income | $ | 153,273 | $ | 154,912 | |||||||
Construction Partners, Inc.
Net Income to Adjusted Net Income Reconciliation
Fiscal Year 2027 Outlook
(unaudited, in thousands)
| Low | High | ||||||||||
| Net income | $ | 170,850 | $ | 180,825 | |||||||
| Transformative acquisition expenses | 5,000 | 6,000 | |||||||||
| Financing fees related to transformative acquisition | — | — | |||||||||
| Tax impact due to above reconciling items | (1,216) | (1,464) | |||||||||
| Adjusted net income | $ | 174,634 | $ | 185,361 | |||||||
Exhibit 99.2
 | NEWS RELEASE | |||||||
Construction Partners, Inc. Completes Georgia Acquisition
Transaction Expands Company’s Operations Along Growing Interstate 85 Corridor
DOTHAN, AL, November 4, 2026 – Construction Partners, Inc. (NASDAQ: ROAD) (“CPI” or the “Company”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways in local markets across the Sunbelt, today announced that it has acquired Piedmont Paving, Inc. (“Piedmont Paving”), headquartered in Newnan, Georgia. Piedmont Paving provides site development and asphalt paving services for a variety of public and private projects in the Atlanta metro area. The acquired operations, including a hot-mix asphalt plant and more than 110 employees, are now part of CPI’s Georgia platform company, The Scruggs Company (“Scruggs”).
Fred J. (Jule) Smith, III, the Company’s President and Chief Executive Officer, said, “We are pleased to welcome the Piedmont Paving team to the CPI family of companies. This transaction expands Scruggs’ operations along the Interstate 85 corridor between Columbus and Atlanta, a rapidly growing region with strong public and private infrastructure demand. Piedmont Paving’s strategically located hot-mix asphalt plant in Newnan, experienced workforce and established customer relationships complement Scruggs’ existing operations and enhance its ability to serve customers in west-central Georgia. We look forward to building upon Piedmont Paving’s reputation for quality work and reliable service as part of our family of companies.”
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating in local markets throughout the Sunbelt in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminals, CPI focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words such as “seek,” “continue,” “estimate,” “predict,” “potential,” “targeting,” “could,” “might,” “may,” “will,” “expect,” “should,” “anticipate,” “intend,” “project,” “outlook,” “believe,” “plan” and similar expressions or their negative forms. The forward-looking statements contained in this press release include, without limitation, statements relating to the benefits of a business acquisition and the expected results of the acquired business. These and other forward-looking statements are based on management’s current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements are set forth in the Company’s most recent Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K and other reports the Company files with the SEC. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, or other changes affecting such statements except to the extent required by applicable law.
Contact:
Rick Black
Investor Relations
ROAD@DennardLascar.com
(713) 529-6600