Construction Partners Inc

Latest Results (21.11.2025):

Construction Partners, Inc. — reporting fiscal 2025 fourth quarter and full year results (year ended September 30, 2025) — delivered a strong year of growth and margin expansion: revenue rose 54% to $2.812 billion, net income increased 48% to $101.8 million, and adjusted EBITDA jumped 92% to $423.7 million, while backlog reached a record ~$3.03 billion.

Top-line performance

Revenue for fiscal 2025 was $2.812 billion, up 54% from $1.824 billion in fiscal 2024; management also reported organic growth of 8.4% year-over-year.

Profitability

Net income was $101.8 million (up 48% vs FY24). Adjusted Net Income was $122.0 million, a 73% increase versus the prior year.

Adjusted EBITDA and margins

Adjusted EBITDA was $423.7 million (up 92% vs FY24). Adjusted EBITDA margin expanded to 15.1% from 12.1% a year earlier.

Backlog

Project backlog was approximately $3.03 billion at September 30, 2025 (a record), up from $1.96 billion at September 30, 2024 and $2.94 billion at June 30, 2025.

Acquisitions and geographic expansion

Fiscal 2025 included five strategic acquisitions that added presence in Texas and Oklahoma and strengthened Tennessee and Alabama. Two additional acquisitions completed in October (post‑year end) entered Daytona Beach, FL and materially expanded operations in Houston, TX.

Fiscal 2026 outlook

The company reiterated guidance for fiscal 2026: revenue $3.4–3.5 billion; net income $150–155 million; adjusted net income $158.1–164.2 million; adjusted EBITDA $520–540 million; adjusted EBITDA margin 15.3%–15.4%.

Operational context

Management cited robust Sunbelt infrastructure demand, increased vertical integration (asphalt plants, aggregates, terminals), ~6,800 employees driving execution, and a focus on margin expansion through scale and disciplined project execution.