Why Shares of Construction Partners Are Falling Today [The Motley Fool]
Construction Partners, Inc. (ROAD)
Last construction partners, inc. earnings: 2/7 07:00 am
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Source: The Motley Fool
Why Shares of Construction Partners Are Falling Today The company missed on quarterly results and reported a shrinking backlog. Shares of Construction Partners ( NASDAQ:ROAD ) fell more than 18% on Tuesday morning after the infrastructure company reported fiscal fourth-quarter results that came in below expectations. Local road repair and maintenance projects are struggling to carry the load at Construction Partners, but the company does have high hopes for its new fiscal year. Construction Partners after markets closed Monday reported fiscal fourth-quarter earnings of $0.32 per share on revenue of $237.32 million, falling short of analyst expectations for $0.34 per share in earnings on revenue of $248 million. For the full fiscal year, the company reported a gross profit of $118 million, up 18% year over year, on revenue of $783.2 million, up 15.2%. The revenue shortfall was an unexpected disappointment for investors, as was Construction Partners' project backlog of $531.1 million,
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ROAD
News
- Construction Partners, Inc. (NASDAQ: ROAD) had its price target raised by analysts at Robert W. Baird from $50.00 to $60.00. They now have a "neutral" rating on the stock.MarketBeat
- Construction Partners, Inc. Announces Fiscal 2024 Second Quarter ResultsPR Newswire
- Calculating The Intrinsic Value Of Construction Partners, Inc. (NASDAQ:ROAD) [Yahoo! Finance]Yahoo! Finance
- Construction Partners: No Longer A Road To Riches [Seeking Alpha]Seeking Alpha
- Construction Partners, Inc. Completes Georgia Acquisition [Yahoo! Finance]Yahoo! Finance
ROAD
Earnings
- 5/10/24 - Beat
ROAD
Sec Filings
- 5/22/24 - Form 4
- 5/20/24 - Form 4
- 5/20/24 - Form 144
- ROAD's page on the SEC website