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Construction Partners Inc. Down 11.90% To $28.65 After Earnings Beat

Tuesday, November 22, 2022 12:00 PM | InvestorsObserver Analysts

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Construction Partners Inc. Down 11.90% To $28.65 After Earnings Beat

Tuesday, November 22, 2022 - Construction Partners Inc. (ROAD) reported upside earnings and revenues today.

Construction Partners Inc.'s earnings came in at an EPS of $0.25 per share, 4.00% higher than estimates for an EPS of $0.24 per share. The firm's earnings are up 67% since reporting $0.15 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $358.4 million. The Industrials company managed to surpass those expectations for its fourth quarter with revenue of $393.1 million, a positive revenue surprise of $34.7 million (10%). The firm managed 41% growth year-over-year due to Construction Partners Inc. reporting quarterly revenue of $279 million in its year-ago quarter. Construction Partners Inc. achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is down 11.90% to $28.65 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Construction Partners Inc. a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 66. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Construction Partners Inc operates as an infrastructure and road construction company. It provides construction products and services to the public and private sectors. Its services cover the construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides site development, paving, utility and drainage systems, as well as supplies hot mix asphalt.

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