Construction Partners, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2024
May 10, 2024 at 09:49 am EDT
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Construction Partners, Inc. reported earnings results for the second quarter and six months ended March 31, 2024. For the second quarter, the company reported sales was USD 371.43 million compared to USD 324.85 million a year ago. Net loss was USD 1.12 million compared to USD 5.48 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to USD 0.11 a year ago.
For the six months, sales was USD 767.93 million compared to USD 666.63 million a year ago. Net income was USD 8.72 million compared to net loss of USD 3.59 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to basic loss per share from continuing operations of USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to diluted loss per share from continuing operations of USD 0.07 a year ago.
Construction Partners, Inc. is a civil infrastructure company, which is specialized in the construction and maintenance of roadways. The Company provides a range of products and services to both public and private infrastructure projects, which focuses on highways, roads, bridges, airports and commercial and residential developments. The Companyâs primary operations consist of manufacturing and distributing hot mix asphalt (HMA) for both internal use and sales to third parties in connection with construction projects; paving activities, including the construction of roadway base layers and application of asphalt pavement; site development, including the installation of utility and drainage systems; mining aggregates, such as sand, gravel and construction stone, that are used as raw materials in the production of HMA and for sales to third parties; and distributing liquid asphalt cement for both internal use and sales to third parties in connection with HMA production.