Construction Partners, Inc. (ROAD) has projected its revenue for fiscal year 2024 to fall between $1.821 billion and $1.825 billion, a notable increase from the $1.563 billion reported in fiscal year 2023. Additionally, net income is anticipated to rise to a range of $68 million to $70 million, compared to $49 million the previous year. The adjusted EBITDA is expected to reach between $219 million and $222 million, up from $172.6 million in fiscal 2023.
Fred Smith, III, the CEO, expressed satisfaction with the robust operational performance of their group of companies operating across 75 Sunbelt markets. He highlighted the commendable efforts of their over 5,000 employees who, despite numerous weather-related challenges, completed a record fiscal year. This effort resulted in revenue growth nearing 17%, a net income increase exceeding 40%, and a rise in adjusted EBITDA of approximately 27% compared to fiscal 2023. The company also achieved an adjusted EBITDA margin of approximately 12%.
Looking ahead to fiscal year 2025, the company projects revenue to be within $2.420 billion to $2.520 billion, with net income anticipated to range from $90 million to $106 million.
