Construction Partners Q2 2021 Earnings Report

Construction Partners reported a net loss for the second quarter of fiscal year 2021, impacted by weather delays and increased general and administrative expenses, but maintained its fiscal year outlook due to a record high project backlog.

Key Takeaways

Construction Partners, Inc. reported a 6.2% increase in revenue compared to the second quarter of last year, but experienced a net loss due to adverse weather conditions and a nonrecurring legal settlement. The company's project backlog reached a record high of $773.3 million, and it maintained its fiscal year 2021 outlook.

Revenue increased by 6.2% compared to the second quarter of the previous year.

Project backlog reached a record high of $773.3 million.

A net loss of $4.9 million was reported on a GAAP basis, compared to a net income of $1.5 million in the second quarter of 2020.

The company maintained its fiscal year 2021 outlook despite weather delays and increased expenses.