Construction Partners Inc

Latest Results (13.06.2024):

Q2 Revenue Growth

In the fiscal second quarter of 2024, Construction Partners Inc reported a significant revenue increase of 14% year-over-year, totaling $371.4 million. This growth includes $25.1 million from recent acquisitions and approximately $21.4 million from increased activity in existing markets, highlighting a robust expansion strategy and strong market demand.

Improvement in Gross Profit

Construction Partners Inc's gross profit for the fiscal second quarter of 2024 rose impressively by 48% compared to the same quarter the previous year, reaching $38.8 million. This increase boosted the gross profit margin to 10.4%, up from 8.1% in the fiscal second quarter of 2023, demonstrating improved operational efficiency and profitability.

Net Loss Reduction

Despite the positive trends in revenue and gross profit, Construction Partners Inc experienced a net loss of $1.1 million in the fiscal second quarter of 2024. However, this marks a significant improvement from the net loss of $5.5 million recorded in the same quarter of the previous year, indicating progress in the company's turnaround efforts.

Adjusted EBITDA Increase

Construction Partners Inc's Adjusted EBITDA for the fiscal second quarter of 2024 showed a strong increase of 45%, amounting to $29.5 million. This growth reflects the company's enhanced operational effectiveness and ability to generate profit from its core business activities.

Expansion of Project Backlog

The project backlog at Construction Partners Inc reached a record high of $1.79 billion as of March 31, 2024, up from $1.52 billion a year earlier. This substantial backlog underscores the ongoing demand for the company's construction services and supports a positive outlook for future revenue and earnings.