Civil infrastructure company Construction Partners (NASDAQ:ROAD) will be reporting earnings tomorrow before market open. Here's what investors should know.
Construction Partners met analysts' revenue expectations last quarter, reporting revenues of $371.4 million, up 14.3% year on year. It was a solid quarter for the company, with an impressive beat of analysts' organic revenue estimates and full-year revenue guidance beating analysts' expectations.
Is Construction Partners a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Construction Partners's revenue to grow 19.6% year on year to $504.4 million, improving from the 10.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.55 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Construction Partners has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 6.9% on average.
Looking at Construction Partners's peers in the construction and maintenance services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Great Lakes Dredge & Dock delivered year-on-year revenue growth of 28.2%, beating analysts' expectations by 3.5%, and Limbach reported a revenue decline of 2.1%, in line with consensus estimates. Great Lakes Dredge & Dock traded up 5.8% following the results while Limbach was also up 6.8%.
Read our full analysis of Great Lakes Dredge & Dock's results here and Limbach's results here.
Investors in the construction and maintenance services segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Construction Partners is up 2.7% during the same time and is heading into earnings with an average analyst price target of $60.2 (compared to the current share price of $55.5).
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