CPI reports record Q3 revenue of $421.9M, net income up 78%; acquires SC plant, opens GA greenfield

Construction Partners, Inc.

2023-Q3 EPS reported $0.35 revenue$1,088,522,000

Revenue $421.9M (+11% YoY); net income $21.7M (+78%); Adjusted EBITDA $56.4M (+50%).
Adjusted EBITDA margin 13.4% vs 9.9% year ago; backlog record $1.59B.
FY2023 outlook narrowed revenue range, raised net income and Adjusted EBITDA ranges.
Acquired hot-mix asphalt plant in Myrtle Beach, SC from C.R. Jackson, Inc.
Opened new greenfield plant in Waycross, GA, expanding southeast market presence.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Construction Partners, Inc. reported the fiscal quarter ended June 30, 2023 results: revenue $421.9 million, net income $21.7 million. Guidance raised.

Period: the fiscal quarter ended June 30, 2023
Revenue: $421.9 million
Net income: $21.7 million
Guidance: raised
Result: reported results

Exact text from the filing

revenue and operate in a more stable cost environment. All of these factors continue to support our bullish outlook for near- and long-term profitable growth.” Revenues were $421.9 million in the third quarter of fiscal 2023, an increase of 11% compared to $380.3 million in the same quarter last year. Excluding the impact of approximately $10 million of additional

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Source: SEC EDGAR

accession 0001718227-23-000052

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