Construction Partners, Inc. has recently released its 10-Q report, providing a detailed look into its operations and financial performance. The civil infrastructure company specializes in constructing and maintaining roadways in several states across the southern United States, including Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. Construction Partners, Inc. offers a range of products and services for public and private infrastructure projects, including highways, roads, bridges, airports, and commercial and residential developments.
The company's 10-Q report discusses various aspects of its financial condition and results of operations. Notably, at the end of December 31, 2024, Construction Partners, Inc.'s contract backlog stood at a substantial $2.66 billion. This figure represents the dollar value of work the company expects to perform in the future, including uncompleted work on contracts in progress and contracts for which they have executed but not commenced the work. The backlog also includes low bid/no contract projects, totaling $0.6 billion at the end of 2024.
The report also highlights significant business acquisitions made by Construction Partners, Inc. during the period covered. These include the acquisitions of Lone Star Paving, Overland Corporation, and Mobile Asphalt Company LLC, which have expanded the company's operations by adding HMA plants, aggregate facilities, and liquid asphalt terminals in Texas, Oklahoma, and Alabama.
Furthermore, the 10-Q report delves into the company's financial performance. For the three months ended December 31, 2024, Construction Partners, Inc. reported revenues of $561.58 million, representing a 41.6% increase compared to the same period in 2023. The cost of revenues for the same period was $485.009 million, resulting in a gross profit of $76.571 million, a 47.6% increase from the previous year. The report also provides insight into the company's general and administrative expenses, acquisition-related expenses, and gain on the sale of property, plant, and equipment.
Moreover, the report includes discussions on key performance indicators, such as Adjusted EBITDA, Adjusted EBITDA margin, and Adjusted Net Income. These metrics provide a deeper understanding of the company's operating performance and financial health, offering investors and analysts valuable insights into Construction Partners, Inc.'s financial condition and results of operations.
Today the company's shares have moved 2.7% to a price of $86.76. If you want to know more, read the company's complete 10-Q report here.
