Construction Partners, Inc. Reports Record Growth and Sets Ambitious Goals for 2025

$ROAD

Construction Partners, Inc. (NASDAQ: ROAD), a civil infrastructure company operating across six southeastern states, has released its preliminary financial results for fiscal 2024. Based in Dothan, Alabama, the company specializes in the construction and maintenance of essential infrastructure, including local and state roadways, interstate highways, airport runways, and bridges.

For fiscal 2024, Construction Partners, Inc. saw a revenue increase of nearly 17%, with expected figures between $1.821 billion and $1.825 billion. This growth is attributed to the company’s operational performance across its 75 Sunbelt markets, where more than 5,000 employees managed the disruptions caused by Hurricanes Debby, Francine, and Helene.

Net income is projected to rise to between $68 million and $70 million, representing more than a 40% increase from the previous fiscal year. Additionally, Adjusted EBITDA is expected to range from $219 million to $222 million, up from $172.6 million in 2023, with an Adjusted EBITDA margin of approximately 12%.

Looking ahead to fiscal 2025, the company has set targets for revenue between $2.420 billion and $2.520 billion, with net income projected to fall between $90 million and $106 million. The forecast for Adjusted EBITDA is between $338 million and $368 million, with an Adjusted EBITDA margin of 14.0% to 14.6%.

These projections account for the expected contributions from the recent acquisition of Lone Star Paving, an asphalt manufacturing and paving company based in Austin, Texas.The Lone Star Paving’s established market position in central Texas, serving three rapidly growing markets, is viewed as a key opportunity for Construction Partners, Inc. to advance its ROAD-Map 2027 goals.

Supported by Texas’ state infrastructure programs, the acquisition positions Construction Partners, Inc. to benefit from planned investments in infrastructure and economic growth across the Sunbelt. As the company continues to navigate the challenges of the infrastructure sector, it remains focused on scaling operations and improving profitability. The company’s strategic acquisitions and operational resilience reflect its strong market position and commitment to delivering value to stakeholders.

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