Construction Partners sees FY24 revenue $1.750B-$1.825B, consensus $1.77B

Sees FY24 net income $63M-$70M; adjusted EBITDA $197M-$219M; and adjusted EBITDA Margin 11.3%-12.0%. Ned N. Fleming, III, the Company’s Executive Chairman, stated, “FY23 marked strong top-line growth and margin expansion consistent with CPI’s historical trends. Since our IPO five years ago, CPI has doubled in size and outperformed all of the targets we set at that time. Today, we are even better positioned than in the past to continue executing on our proven growth strategy, and we are experiencing the highest demand for infrastructure services across our geographic footprint in the fast-growing Sunbelt than at any time in our past. The Board and I are pleased with the strength of the organization, the commitment of our team and the opportunities to grow within our existing markets and expand into new markets. In a highly fragmented industry with an extremely long runway for continued growth, we believe CPI will continue to enhance value for all of our stakeholders.”