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Construction Partners, Inc. (NASDAQ: ROAD) is a leading civil infrastructure company specializing in the construction and maintenance of roadways across six southeastern states: Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company, through its subsidiaries, provides a comprehensive range of products and services for public and private infrastructure projects. These services include the construction and maintenance of highways, roads, bridges, airports, and commercial and residential developments.
The company’s core business focuses on manufacturing and distributing hot mix asphalt (HMA), paving activities including the construction of roadway base layers and application of asphalt pavement, site development with the installation of utility and drainage systems, and mining aggregates like sand and gravel for HMA production. Supported by its extensive network of hot-mix asphalt plants, aggregate facilities, and liquid asphalt terminals, Construction Partners ensures a steady supply chain for its projects and third-party sales.
Construction Partners boasts a robust financial performance, with preliminary fiscal 2023 revenue expected to range from $1.547 billion to $1.557 billion, showcasing significant growth compared to $1.30 billion in fiscal 2022. Net income for fiscal 2023 is projected between $44.8 million to $47.0 million, a considerable increase from $21.4 million in fiscal 2022. Adjusted EBITDA is also forecasted between $168.0 million to $172.0 million, up from $111.2 million in the previous year. This growth is attributed to strong operational performance, high project demand, and healthy project margins.
Recent achievements include the acquisition of SJ&L General Contractor, LLC, and Littlefield Construction Company, expanding their service offerings in existing markets. The company continues to integrate these new acquisitions with existing operations, strengthening their presence in high-growth areas like the greater Huntsville metro area and Georgia’s Waycross market.
Construction Partners is strategically positioned to capitalize on the substantial investment in infrastructure across the southeastern United States. The company remains focused on expanding margins through enhanced local market performance, further vertical integration of construction materials and services, and scaling corporate costs. With a project backlog of $1.62 billion as of December 31, 2023, the company is set for continued growth and shareholder value creation.
For more information, visit www.constructionpartners.net.
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.
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.
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