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Construction Partners' Q1 earnings beat drives shares up nearly 6%
Construction Partners' Q1 earnings beat drives shares up nearly 6%
Construction Partners, Inc. (NASDAQ:ROAD) shares jumped 5.84% after the civil infrastructure company reported strong fiscal first quarter results that beat analyst expectations and raised its full-year outlook.
The company's shares went up 5.84% after the results.
The company posted adjusted earnings per share of $0.25 for Q1, surpassing the consensus estimate of $0.18. Revenue soared 41.6% year-over-year to $561.6 million, well above analysts' projections of $508.75 million.
Construction Partners saw robust organic growth of 11.2% in the quarter, while acquisitions contributed approximately 30.4% to the top-line expansion. The company's project backlog hit a record $2.66 billion at the end of December, up from $1.62 billion a year earlier.
Today we are reporting strong first quarter performance, with revenue growth of 42% and Adjusted EBITDA growth of 68% compared to the first quarter last year.
Buoyed by the strong results, Construction Partners raised its fiscal 2025 revenue guidance to a range of $2.66 billion to $2.74 billion, up from its previous outlook and ahead of the $2.55 billion consensus.
The company cited favorable weather conditions and strong operational execution across its Sunbelt markets as key drivers of the quarterly outperformance. Management also highlighted recent strategic acquisitions that have expanded Construction Partners' geographic footprint.
With a solid project backlog and continued infrastructure spending tailwinds, Construction Partners appears well-positioned to deliver further growth in fiscal 2025.
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