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Construction Partners (ROAD) Q3 FY2024 earnings: revenue $518 million, up 22.7% on the year

Construction Partners, Inc. (ROAD) reported revenue of $518 million for Q3 FY2024, the quarter ended 30 June 2024, up 22.7% on the same quarter a year earlier. Net income was $31 million, up 42.6% on the year, and diluted earnings per share $0.59. The figures are the company's own, from the 10-Q it filed with the SEC on 9 August 2024.

Revenue$518 millionup 22.7%
Net income$31 millionup 42.6%
Diluted EPS$0.59
QuarterQ3 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Revenue518371n/an/a
Cost of revenue434333n/an/a
Gross profit83.538.8n/an/a
Gross margin16.1%10.4%n/a
Operating income45.73.1n/an/a
Operating margin8.8%0.8%n/a
Interest expense4.74.6n/an/a
Pre-tax income41.0-1.4n/an/a
Income tax10.1-0.3n/an/a
Effective tax rate24.6%n/an/a
Net income30.9-1.1n/an/a
Net margin6.0%-0.3%n/a
Diluted EPS$0.59-$0.02n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Operating cash flow34.618.2n/an/a
Capital expenditure14.928.7n/an/a
Free cash flow19.7-10.6n/an/a
Free cash flow margin3.8%-2.8%n/a
Cash from investing-60.7-33.7n/an/a
Cash from financing34.1-3.8n/an/a
Depreciation and amortisation23.523.1n/an/a
Share-based compensation4.03.6n/an/a
Diluted shares, weighted53m52mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Shareholders' equity553525n/an/a
Debt454423n/an/a
Operating lease liabilities26.821.7n/an/a
Other liabilities398343n/an/a
Total liabilities and equity1,4321,313n/an/a
Fixed assets579565n/an/a
Goodwill200181n/an/a
Intangible assets20.921.5n/an/a
Securities held for sale or to maturity17.015.5n/an/a
Cash and equivalents56.348.0n/an/a
Inventory105103n/an/a
Other assets454379n/an/a
Total assets1,4321,313n/an/a

Questions

What was Construction Partners' revenue in Q3 FY2024?

Construction Partners (ROAD) reported revenue of $518 million for Q3 FY2024, the quarter ended 30 June 2024, up 22.7% on the same quarter a year earlier.

How much did Construction Partners earn in Q3 FY2024?

Net income for Q3 FY2024 was $31 million, up 42.6% on the year, and diluted earnings per share $0.59.

When did Construction Partners report Q3 FY2024 results?

Construction Partners filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 9 August 2024.

Quarterly results, the last 12 quarters

Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue475397371518538562572779900809769999
Cost of revenue399345333434454485500647740688670831
Gross profit75.551.938.883.584.176.671.313215912298.9168
Gross margin16%13%10%16%16%14%12%17%18%15%13%17%
Operating income44.816.73.145.745.813.827.382.910150.437.4109
Operating margin9%4%1%9%9%2%5%11%11%6%5%11%
Interest expensen/a3.74.64.76.118.121.625.225.427.425.630.3
Pre-tax income41.213.0-1.441.039.6-3.95.558.075.022.812.179.1
Tax rate25%24%n/a25%26%n/a24%24%25%24%24%25%
Net income30.99.8-1.130.929.3-3.14.244.056.617.29.259.6
Net margin7%2%-0%6%5%-1%1%6%6%2%1%6%
Diluted EPS$0.59$0.19-$0.02$0.59$0.56-$0.06$0.08$0.79$1.02$0.31$0.16$1.06
Operating cash flow62.660.418.234.695.940.755.683.011282.665.293.1
Capital expenditure18.826.828.714.917.526.841.436.733.035.546.362.5
Free cash flow43.933.6-10.619.778.413.814.246.478.947.118.930.6
Buybacksn/a1.3n/an/an/a12.18.00.72.722.43.53.8
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 9 August 2024, accession 0001718227-24-000061: the filing on EDGAR. All of Construction Partners, Inc.'s filings: EDGAR company page.

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