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Sep 30, 2021
Construction Partners Q4 2021 Earnings Report
Reported strong revenue growth and record backlog.
Key Takeaways
Construction Partners, Inc. reported a strong fourth quarter with a 24% increase in revenue and a record year-end project backlog of $966 million. The company's fiscal year 2022 outlook reflects confidence in continued growth supported by strong customer demand and project funding.
Reported strong revenue growth of 24% in the fourth quarter.
Achieved a record year-end project backlog of $966 million.
Completed the acquisition of King Asphalt in Liberty, South Carolina.
Fiscal year 2022 outlook reflects confidence in the continuation of solid growth.
Construction Partners
Construction Partners
Forward Guidance
The Company’s outlook for fiscal year 2022 with regard to revenue, net income and Adjusted EBITDA is as follows:
Positive Outlook
- Revenue in the range of $1,075 million to $1,150 million.
- Net income in the range of $34.7 million to $41.8 million.
- Adjusted EBITDA in the range of $122.0 million to $132.0 million.
- Double-digit revenue growth on improving gross margins.
- Certain 2021 non-recurring costs eliminated for 2022.
Challenges Ahead
- Outlook does not assume an increase in federal funding from the Infrastructure Investment in Jobs Act.
- Outlook does not assume future acquisitions that the Company has not already completed.
- Current economic headwinds impacting all construction and infrastructure businesses.
- Wage and materials inflation.
- Disruptions felt up and down the supply chain.