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Jun 30, 2023
Construction Partners Q3 2023 Earnings Report
Reported record quarterly revenue, increased net income, and grew adjusted EBITDA compared to Q3 FY2022.
Key Takeaways
Construction Partners, Inc. reported record quarterly revenue of $421.9 million, an 11% increase year-over-year. Net income increased by 78% to $21.7 million, and adjusted EBITDA rose by 50% to $56.4 million. The company's project backlog reached a record $1.59 billion.
Revenues increased by 11% to $421.9 million compared to the same quarter last year.
Gross profit increased by 45% to $64.1 million compared to the same quarter last year.
Net income increased by 78% to $21.7 million compared to the same quarter last year.
Project backlog increased to $1.59 billion.
Construction Partners
Construction Partners
Forward Guidance
The Company’s outlook for fiscal year 2023 with regard to revenue, net income and Adjusted EBITDA is as follows: •Revenue in the range of $1.535 billion to $1.555 billion •Net income in the range of $41 million to $46 million •Adjusted EBITDA(1) in the range of $161 million to $169 million
Positive Outlook
- Revenue in the range of $1.535 billion to $1.555 billion
- Net income in the range of $41 million to $46 million
- Adjusted EBITDA in the range of $161 million to $169 million