Strong project demand — The company said demand for public infrastructure and commercial construction projects remained healthy, driving record backlog.
Local market strategy — The company attributed results to strength of its decentralized operating model and local market strategy, helping execution across diverse conditions.
Acquisition impact — The company said the acquisition of Ellsworth Construction expanded its Oklahoma footprint and enhanced data center construction capabilities.
Outlook raised for FY26
The company raised its FY26 revenue outlook to $3.64 billion-$3.68 billion.
It now sees FY26 net income at $165 million-$168 million.
The company expects FY26 adjusted EBITDA of $559 million-$569 million.
The current average analyst rating on the shares is "buy", with 5 "strong buy" or "buy" ratings, 2 "hold" ratings and no "sell" or "strong sell" ratings.
The average consensus recommendation for the construction & engineering peer group is "buy".
Wall Street's median 12-month price target for Construction Partners, Inc. is $140.00, about 39.8% above its August 6 closing price of $100.16.
The stock recently traded at 28 times the next 12-month earnings, versus a P/E of 38 three months ago.
Quarterly results beat expectations
US civil infrastructure builder's fiscal Q3 revenue grew 28% year over year, beating analyst expectations.
Adjusted EPS for fiscal Q3 beat analyst expectations, rising 34% year over year.
The company reported record $3.36 billion backlog.
ROAD•
