Business
Construction Partners, Inc. Announces Fiscal 2025 First Quarter Results
Revenue Up 42% Compared to Q1 FY24Adjusted Net Income Up 35% Compared to Q1 FY24Adjusted EBITDA Up 68% Compared to Q1 FY24Record Backlog of $2.66
About this update from Construction Partners, Inc.
[{"type":"text","content":"Revenue Up 42% Compared to Q1 FY24Adjusted Net Income Up 35% Compared to Q1 FY24Adjusted EBITDA Up 68% Compared to Q1 FY24Record Backlog of $2.66 BillionCompany Raises FY25 Outlook \nDOTHAN, Ala., Feb. 7, 2025 /PRNewswire/ -- Construction Partners, Inc. (NASDAQ: ROAD) (\"CPI\" or the \"Company\"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways in local markets throughout the Sunbelt, today reported financial and operating results for the fiscal quarter ended December 31, 2024.\n\nFred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, \"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, which led to an exceptional first quarter Adjusted EBITDA margin of 12.25%. The outstanding operational performance of our family of companies throughout the Sunbelt and favorable weather during the quarter produced these strong results. We also continued to win more project work, growing our project backlog to a record $2.66 billion. We were pleased to have completed the transformational acquisition of Lone Star Paving, our new platform company in Texas, during the first quarter. In addition, we have completed two acquisitions since January 2025. In January, we entered Oklahoma by acquiring our eighth platform company, Overland Corporation, which is well-positioned to participate in the strong economic activity occurring in southern Oklahoma and northern Texas. Earlier this week, we announced our latest strategic acquisition with the purchase of Mobile Asphalt Company in Mobile, Alabama. This represents a significant expansion of our presence in the Mobile metro area and the surrounding southwestern Alabama markets following our initial entry into Mobile last September. Reflecting these strong first quarter results and incorporating the expected contribution of these two newly acquired companies, we are raising our fiscal 2025 outlook ranges.\"\nRevenues were $561.6 million in the first quarter of fiscal 2025, an increase of 41.6% compared to $396.5 million in the same quarter last year. The $165.1 million revenue increase included $120.9 million of revenues attributable to acquisitions completed during or subsequent to the three months ended D...