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Sep 30, 2023
Construction Partners Q4 2023 Earnings Report
Reported record revenue and profit growth, supported by a healthy bidding environment and strategic priorities.
Key Takeaways
Construction Partners, Inc. reported a strong fiscal year 2023, highlighted by a record fourth quarter. The company saw significant increases in revenue, net income, and Adjusted EBITDA compared to the previous year, driven by infrastructure investments and a robust commercial market. They reported a record high project backlog of $1.6 billion at fiscal year-end.
Q4 revenue increased by 21% compared to Q4 FY22.
Q4 net income increased by 136% compared to Q4 FY22.
Q4 Adjusted EBITDA increased by 76% compared to Q4 FY22.
Company reported a record backlog of $1.60 billion.
Construction Partners
Construction Partners
Forward Guidance
The Company’s outlook for fiscal year 2024 with regard to revenue, net income, Adjusted EBITDA and Adjusted EBITDA Margin is as follows:
Positive Outlook
- Revenue in the range of $1.750 billion to $1.825 billion
- Net income in the range of $63 million to $70 million
- Adjusted EBITDA in the range of $197 million to $219 million
- Adjusted EBITDA Margin in the range of 11.3% to 12.0%