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Dec 31, 2022
Construction Partners Q1 2023 Earnings Report
Revenue increased and backlog reached a record high.
Key Takeaways
Construction Partners, Inc. reported a 20% increase in revenue compared to the same quarter last year, driven by acquisitions and organic growth. The company's project backlog reached a record $1.47 billion. They are revising their annual guidance for fiscal year 2023, reflecting higher mid-point ranges than the outlook provided in November 2022.
Revenue increased by 20% compared to Q1 FY2022.
Record backlog of $1.47 billion was achieved.
The company integrated two strategic acquisitions in Nashville and Charlotte.
Fiscal year 2023 outlook was revised to reflect higher mid-point ranges.
Construction Partners
Construction Partners
Forward Guidance
The Company’s outlook for fiscal year 2023 with regard to revenue, net income and Adjusted EBITDA is as follows: •Revenue in the range of $1.475 billion to $1.550 billion •Net income in the range of $30 million to $40 million •Adjusted EBITDA in the range of $145 million to $160 million
Positive Outlook
- Revenue in the range of $1.475 billion to $1.550 billion
- Net income in the range of $30 million to $40 million
- Adjusted EBITDA in the range of $145 million to $160 million
- Economic conditions, driven by positive demographic trends and increased infrastructure spending, fuel growth
- Company continues to expand its geographic footprint and grow relative market share