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Dec 31, 2023
Construction Partners Q1 2024 Earnings Report
Construction Partners reported a strong start to fiscal year 2024 with substantial top-line and bottom-line growth, driven by robust demand for infrastructure services.
Key Takeaways
Construction Partners, Inc. reported a 16% increase in revenue and a significant increase in net income and adjusted EBITDA for the first quarter of fiscal year 2024. The company's backlog reached a record $1.62 billion, reflecting strong demand in the infrastructure sector.
Revenue increased by 16% compared to the same quarter last year.
Net income rose to $9.8 million, with EPS at $0.19, compared to $1.9 million and $0.04 in the previous year.
Adjusted EBITDA increased by 50% compared to the same quarter last year.
Record backlog of $1.62 billion was reported.
Forward Guidance
The Company is maintaining its outlook for fiscal year 2024 with regard to revenue, net income, Adjusted EBITDA and Adjusted EBITDA Margin.
Positive Outlook
- Revenue in the range of $1.750 billion to $1.825 billion
- Net income in the range of $63 million to $70 million
- Adjusted EBITDA in the range of $197 million to $219 million
- Adjusted EBITDA Margin in the range of 11.3% to 12.0%
- Infrastructure demand for public projects to repair, maintain and expand roads is fueling top-line growth
Historical Earnings Impact
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Avg. Return Before/After Earnings
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