struction Partners(ROAD) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue for Q1 FY25 was $561.6 million, a 41.6% increase from $396.5 million in Q1 FY24[2] - Adjusted EBITDA for Q1 FY25 was $68.8 million, up 68% from $40.9 million in the same quarter last year, resulting in an Adjusted EBITDA margin of 12.25%[2][6] - Adjusted net income for Q1 FY25 was $13.3 million, translating to diluted earnings per share of $0.25[5] - Net income for Q1 FY25 was a loss of $3.1 million, compared to a net income of $9.8 million in Q1 FY24[4] - Adjusted EBITDA for the three months ended December 31, 2024, was $68,797 thousand, an increase from $40,874 thousand in 2023, resulting in an Adjusted EBITDA margin of 12.3%[22] - Revenues for the three months ended December 31, 2024, reached $561,580 thousand, compared to $396,505 thousand in 2023, marking a year-over-year increase of 41.5%[22] - Adjusted net income for the three months ended December 31, 2024, was $13,270 thousand, compared to $9,843 thousand in 2023[24] Project Backlog and Outlook - Record project backlog reached $2.66 billion as of December 31, 2024, compared to $1.62 billion a year earlier[6] - The company raised its fiscal 2025 outlook, projecting revenue between $2.66 billion and $2.74 billion[11] - The company anticipates continued growth driven by strong demand for infrastructure projects in the Sunbelt region[7] - Adjusted EBITDA for fiscal 2025 is projected to be between $375.0 million and $400.0 million, with an Adjusted EBITDA margin of 14.1% to 14.6%[11] - The company projects fiscal year 2025 revenues to be between $2,660,000 thousand and $2,740,000 thousand, with an Adjusted EBITDA forecast of $375,000 thousand to $400,000 thousand[26] Acquisitions and Expenses - The company completed the acquisition of Lone Star Paving and two additional acquisitions in early 2025, expanding its market presence[2] - Business acquisitions in the current quarter amounted to $654,200 thousand, significantly higher than $81,351 thousand in the same quarter of the previous year[19] - General and administrative expenses were $44.3 million, decreasing as a percentage of total revenues to 7.9% from 8.9% in the same quarter last year[3] - Share-based compensation expense increased to $14,403 thousand for the three months ended December 31, 2024, compared to $2,889 thousand in 2023[19] Cash and Assets - Total assets increased to $2,567,916 thousand as of December 31, 2024, up from $1,542,135 thousand on September 30, 2024, representing a growth of 67%[17] - Cash, cash equivalents, and restricted cash at the end of the period were $133,068 thousand, up from $69,711 thousand in the previous year[19] - The company reported cash paid for interest of $15,051 thousand for the quarter, up from $4,692 thousand in the previous year[19]