Construction Partners (ROAD) Q3 Earnings and Revenues Beat Estimates

Group 1 - Construction Partners reported quarterly earnings of $0.59 per share, exceeding the Zacks Consensus Estimate of $0.54 per share, and up from $0.41 per share a year ago, representing an earnings surprise of 9.26% [1] - The company achieved revenues of $517.79 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.95%, compared to $421.89 million in the same quarter last year [2] - Construction Partners has outperformed the S&P 500, with shares increasing approximately 34% since the beginning of the year, while the S&P 500 gained 11.5% [3] Group 2 - The earnings outlook for Construction Partners is uncertain, with current consensus EPS estimates at $0.72 for the coming quarter and $1.40 for the current fiscal year, with revenues expected to be $558.99 million and $1.83 billion respectively [7] - The Zacks Industry Rank indicates that the Building Products - Miscellaneous sector is in the bottom 42% of over 250 Zacks industries, suggesting potential underperformance compared to the top 50% of industries [8] - The estimate revisions trend for Construction Partners is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6]