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Jun 30, 2024
Construction Partners Q3 2024 Earnings Report
Reported strong third quarter results with substantial year-over-year growth in revenue, net income and Adjusted EBITDA.
Key Takeaways
Construction Partners, Inc. reported a strong third quarter with a 22.7% increase in revenue, a 42.4% increase in net income, and a 30.5% increase in Adjusted EBITDA compared to the same quarter last year. The company's project backlog reached a record $1.86 billion, and the company is raising its fiscal year 2024 outlook.
Revenue increased by 22.7% compared to Q3 FY23.
Net income increased by 42.4% compared to Q3 FY23.
Adjusted EBITDA increased by 30.5% compared to Q3 FY23.
Record backlog of $1.86 billion was achieved.
Forward Guidance
The Company is increasing guidance for fiscal 2024 with regard to revenue, net income, Adjusted EBITDA and Adjusted EBITDA Margin.
Positive Outlook
- Revenue in the range of $1.835 billion to $1.860 billion
- Net income in the range of $73.5 million to $76.5 million
- Adjusted EBITDA in the range of $219 million to $228 million
- Adjusted EBITDA Margin in the range of 11.9% to 12.3%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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