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Mar 31, 2021
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.
Construction Partners
Construction Partners
Forward Guidance
Construction Partners is maintaining its outlook for fiscal year 2021, anticipating growth in infrastructure funding programs and project lettings.