Loading...
•
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.
Construction Partners
Construction Partners
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