Construction Partners (ROAD) rises after Q1 revenue beats estimates, backlog supports growth outlook

Construction Partners Inc. (NASDAQ: ROAD) reported fiscal first-quarter calendar 2026 revenue of $769.2 million, up 34.6% from a year earlier and above Wall Street expectations, as favorable weather, higher project volumes and acquisitions lifted results. The civil infrastructure company posted non-GAAP earnings of $0.18 per share, also ahead of analyst estimates. Management cited strong execution, low employee turnover and demand across public and commercial projects in Sunbelt markets. CEO Jule Smith said dry weather allowed crews to work more days and increase volumes. The company said growth is supported by an expanding backlog, federal infrastructure investment, Sunbelt population migration and acquisitions, including Four Star Paving. CFO Gregory Hoffman said Construction Partners expects to convert 75% to 85% of EBITDA into operating cash flow. Shares recently traded at $140.58, up from $131.36 before the earnings release.