Construction Partners Q1 revenue up 20% to $341.8M; record backlog $1.47B

Construction Partners, Inc.

2023-Q1 EPS reported $0.04 revenue$341,779,000

Revenue $341.8M (+20% YoY); net income $1.9M vs $5.5M; adj. EBITDA $27.6M (+4.7%).
Record project backlog $1.47B at Dec 31, 2022, up from $1.09B a year ago.
Integrated two acquisitions: bolt-on in Nashville and Ferebee Corp (Charlotte), adding six asphalt plants.
Raised mid-point of FY2023 guidance; management confident in continued growth.
Gross profit $30.5M vs $33.0M; G&A steady at 8.7% of revenue.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Construction Partners, Inc. reported fiscal quarter ended December 31, 2022 results: revenue $341.8 million, net income $1.9 million. Guidance raised.

Period: fiscal quarter ended December 31, 2022
Revenue: $341.8 million
Net income: $1.9 million
Guidance: raised
Result: reported results

Exact text from the filing

half of our year this spring and summer. Therefore, we are revising our annual guidance for fiscal 2023, and after the first quarter, we are right on track.” Revenues were $341.8 million in the first quarter of fiscal 2023, an increase of 20% compared to $285.0 million in the same quarter last year. The increase included $32.1 million of revenues attributable to

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Source: SEC EDGAR

accession 0001718227-23-000014

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