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Sep 30, 2022
Construction Partners Q4 2022 Earnings Report
Reported record revenue and Adjusted EBITDA growth year-over-year, driven by robust project demand and increased project bidding margins.
Key Takeaways
Construction Partners, Inc. reported a strong fiscal fourth quarter and year-end results for 2022. Q4 revenue increased by 41% to a record $393.1 million, and Adjusted EBITDA rose by 45% to a record $39.4 million. The company's project backlog reached a record $1.41 billion. They anticipate as this backlog is converted, they will realize a steady increase to higher future profit margins.
Revenue increased by 41% to a record $393.1 million.
Adjusted EBITDA increased 45% to a record $39.4 million.
Project backlog reached a record $1.41 billion.
Mix of growth consisted of approximately 24 percent organic revenue and approximately 19 percent from recent acquisitions.
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:
Positive Outlook
- Revenue in the range of $1.40 billion to $1.55 billion
- Net income in the range of $24.6 million to $38.4 million
- Adjusted EBITDA in the range of $135.0 million to $160.0 million
Challenges Ahead
- uncertainty of supply chain disruptions still present in the economy