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Jun 30, 2021
Construction Partners Q3 2021 Earnings Report
Reported a revenue increase of 20.6% compared to the third fiscal quarter of last year and a record backlog of $823 million.
Key Takeaways
Construction Partners, Inc. reported a 20.6% increase in revenue compared to the previous year's third quarter. The company's backlog grew to a record $823 million. However, net income decreased compared to the prior year, impacted by investments in people and technology, and supply chain and labor constraints.
Revenue increased by 20.6% compared to the third fiscal quarter of last year.
Backlog grew to a record $823 million by the end of the third quarter.
Net income was $9.3 million for the third fiscal quarter of 2021, compared to $15.8 million in the third fiscal quarter of last year.
The company revised its fiscal year 2021 outlook to reflect supply chain and labor constraints.
Construction Partners
Construction Partners
Forward Guidance
The company revised its outlook for fiscal year 2021 with regard to revenue, Adjusted net income and Adjusted EBITDA.