Shares of Construction Partners (NASDAQ: ROAD) are soaring 5.44% in pre-market trading on Friday following the company's impressive fiscal second-quarter results and raised full-year guidance. The civil infrastructure company has demonstrated strong performance amidst steady project funding and commercial demand.
Construction Partners reported earnings of $0.08 per share for the quarter ended March 31, significantly beating analysts' expectations of a $0.05 loss per share. Revenue for the quarter surged to $571.7 million, up 53.91% from $371.4 million in the same period last year and surpassing the consensus estimate of $559.6 million. The company attributed $173.1 million of the revenue increase to acquisitions completed during or after the comparable quarter in 2024.
In light of the strong results, Construction Partners raised its fiscal 2025 revenue guidance to a range of $2.77 billion to $2.83 billion, up from the previous forecast of $2.66 billion to $2.74 billion. CEO Fred Smith III cited "healthy federal and state project funding across our geographies in addition to a steady workflow of commercial projects" as key drivers of the company's performance. The company's project backlog also showed significant growth, totaling $2.84 billion as of March 31, compared to $1.79 billion a year earlier, indicating a robust pipeline of future work.
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