Construction Partners Q2 Results Top Estimates; Boosts FY24 Outlook
(RTTNews) - Construction Partners, Inc. (ROAD) reported Friday a net loss for the second quarter that narrowed to $1.12 million or $0.02 per share from $5.48 million or $0.11 per share in the prior-year quarter.
On average, eight analysts polled by Thomson Reuters expected the company to report a loss of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter increased 14 percent to $371.43 million from $324.85 million in the same quarter last year. Analysts expected $366.05 million for the quarter.
Looking ahead to fiscal 2024, the company now expects net income in a range of $71 million to $75 million on revenue between $1.81 billion and $1.85 billion. The Street is looking for earnings of $1.32 per share on revenues of $1.80 billion for the year.
Previously, the company expected net income in a range of $63 million to $71 million on revenue between $1.75 billion and $1.825 billion.
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