Construction Partners reports Q2 EPS 8c, consensus (5c)

Reports Q2 revenue $571,7M, consensus $561.28M. Reports project backlog a record $2.84B at March 31, compared to $1.79B at March 31, 2024 and $2.66B at December 31, 2024. Fred J. Smith, III, the Company’s President and CEO, said, “We are pleased to report a strong Q2 marked by significant year-over-year growth in revenues, net income and Adjusted EBITDA, leading to an Adjusted EBITDA margin of 12.1%, up more than 400 basis points from the same quarter last year. Continuing the substantial momentum established in the Q1 of our fiscal year, the operational performance of our family of companies was outstanding, especially during this winter quarter, when shorter days and colder weather typically limit construction activity. Throughout our Sunbelt footprint, our local teams continued to win more project work, growing our project backlog to a record $2.84B. We are well-positioned for continued success to build out this record backlog as we move into the busy construction work season in the second half of our fiscal year. We continue to experience healthy federal and state project funding across our geographies in addition to a steady workflow of commercial projects, with many of our local markets representing some of the fastest growing MSAs in the Sunbelt.”