Construction Partners Reports Strong Fiscal 2024 Results

Construction Partners ( (ROAD) ) has released its Q4 earnings. Here is a breakdown of the information Construction Partners presented to its investors.

Construction Partners, Inc. is a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across the Sunbelt region, including Alabama, Florida, Georgia, and Texas. The company operates numerous hot-mix asphalt plants, aggregate facilities, and liquid asphalt terminals, focusing on both publicly funded and private sector projects.

The latest financial results for Construction Partners, Inc. indicate a robust fiscal performance for 2024, with notable increases in key financial metrics. The company reported a 17% rise in revenue and a 41% increase in net income compared to the previous fiscal year, underscoring a strong operational year.

Key highlights from the earnings report include revenue reaching $1.82 billion, a substantial growth from $1.56 billion in the prior year. The company’s net income rose to $68.9 million, and its Adjusted EBITDA saw a 28% increase to $220.6 million. Additionally, Construction Partners, Inc. expanded its market presence through eight acquisitions, enhancing its geographical footprint and market share in the Sunbelt states.

The company achieved a record project backlog of $1.96 billion, reflecting the ongoing demand for infrastructure development in the region. The acquisition of Lone Star Paving marks a strategic expansion into Texas, positioning the company for further growth in rapidly developing metropolitan areas.

Looking ahead, Construction Partners, Inc. anticipates continued growth and profitability in fiscal 2025, with projected revenues between $2.48 billion and $2.58 billion. The company’s strategic initiatives and acquisitions are expected to contribute significantly to its ROAD-Map 2027 strategy, aiming to deliver long-term value for investors and stakeholders.