Loading...
•
Dec 31, 2021
Construction Partners Q1 2022 Earnings Report
Reported strong revenue and Adjusted EBITDA growth, driven by operational performance and acquisitions, while also achieving a record backlog.
Key Takeaways
Construction Partners, Inc. reported a strong first quarter with a 49.3% increase in revenue to $285.0 million and a 12.2% increase in Adjusted EBITDA to $26.4 million. The company's project backlog reached a record $1.09 billion, demonstrating strong demand for infrastructure services. However, net income decreased by 30.0% to $5.5 million.
Revenue increased by 49.3% compared to Q1 2021, reaching $285.0 million.
Gross profit increased by 7.7% compared to Q1 2021, totaling $33.0 million.
Net income decreased by 30.0% compared to Q1 2021, amounting to $5.5 million.
Project backlog reached a record $1.09 billion as of December 31, 2021.
Construction Partners
Construction Partners
Forward Guidance
The Company’s outlook for fiscal year 2022 with regard to revenue, net income and Adjusted EBITDA is as follows:
Positive Outlook
- Revenue in the range of $1.075 billion to $1.150 billion
- Net income in the range of $34.7 million to $41.8 million
- Adjusted EBITDA in the range of $122.0 million to $132.0 million
- Strong demand for infrastructure services
- Rising investment in road maintenance and capacity projects
Challenges Ahead
- Continued supply chain headwinds
- Labor market headwinds
- Inflationary headwinds
- Impacts on the construction and infrastructure sector
- Adjustments needed to manage ongoing challenges