Construction reaffirms FY24 revenue view $1.750B-$1.825B, consensus $1.77B

Reaffirms FY24 net income $63M-$70M; adjusted EBITDA $197M-$219M; adjusted EBITDA Margin 11.3%-12.0%. Ned N. Fleming, III, the Company’s Executive Chairman, stated, “Today’s infrastructure demand for public projects to repair, maintain and expand roads, build new construction and expansion projects, and support commercial growth due to the significant U.S. migration to the Sunbelt is fueling top-line growth and margin expansion for CPI. Our business model continues to demonstrate resilience and scalability as we expand our relative market share and capitalize on healthy funding programs at both the state and federal level, as well as a vibrant commercial market throughout the Southeast. The Board and I are pleased with the strength of the organization, its leadership and the commitment of our team to continue to grow the Company and enhance value for all of our stakeholders.”