By Denny Jacob
Construction Partners swung to a profit as revenue increased in its latest quarter, benefiting from a steady flow of project funding and commercial projects.
The civil infrastructure company swung to net income of $4.2 million, or 8 cents a share, for the second quarter, compared to a loss of $1.1 million, or 2 cents a share, in the prior-year period.
Revenue rose to $571.7 million from $371.4 million.
Construction Partners said $173.1 million of the increase in revenue was attributable to acquisitions completed during or subsequent to the three months ended March 31, 2024.
"We continue to experience healthy federal and state project funding across our geographies in addition to a steady workflow of commercial projects," said Chief Executive Fred Smith III.
Project backlog totaled $2.84 billion as of March 31 compared to $1.79 billion a year earlier.
For fiscal 2025, the company now expects revenue in the range of $2.77 billion and $2.83 billion. It previously forecast revenue in the range of $2.66 billion and $2.74 billion.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 09, 2025 07:29 ET (11:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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