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Jun 30, 2022
Construction Partners Q3 2022 Earnings Report
Construction Partners reported a strong third quarter with revenue and Adjusted EBITDA up by 45% and 30%, respectively, compared to the previous year.
Key Takeaways
Construction Partners, Inc. announced strong Q3 2022 results, with a 45% increase in revenue and a 30% increase in net income compared to the same quarter last year. The company also reported a record backlog of $1.33 billion. Based on this strong performance, the company is raising its FY2022 revenue outlook.
Revenue increased by 45% compared to the third fiscal quarter of last year.
Net income increased by 30% compared to the third fiscal quarter of last year.
Adjusted EBITDA increased by 30% compared to the third fiscal quarter of last year.
Project backlog reached a record $1.33 billion at June 30, 2022.
Construction Partners
Construction Partners
Forward Guidance
The Company has updated its full-year 2022 guidance to reflect the strong project demand environment and the continued inflation and elevated energy costs that it believes will persist during the fiscal year.
Positive Outlook
- Revenue in the range of $1.25 billion to $1.28 billion
- Net income in the range of $17.5 million to $23.2 million
- Adjusted EBITDA in the range of $108 million to $117 million
- CPI business model is extremely resilient
- Converting higher-margin backlog
Challenges Ahead
- Continued inflation
- Elevated energy costs
- Rapid and steep rise in costs
- Continuing supply chain disruptions
- Challenging economic environment