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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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