Construction Partners Q1 Net Income Rises; Revenue Up 16%

(RTTNews) - Construction Partners, Inc. (ROAD) reported first quarter net income of $9.8 million and earnings per share of $0.19, compared to net income of $1.9 million and earnings per share of $0.04, last year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.13, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $40.9 million, an increase of 50%.

Revenues were $396.5 million in the first quarter, an increase of 16% compared to $341.8 million in the same quarter last year. Analysts on average had estimated $394.48 million in revenue.

The company maintained its outlook for fiscal 2024 with regard to revenue, net income, adjusted EBITDA and adjusted EBITDA margin.

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