Financial Data and Key Metrics Changes - The company reported record revenue of $561.6 million for the first quarter of fiscal 2025, representing a year-over-year increase of 41.6% [14] - Adjusted net income was $13.3 million, with diluted earnings per share of $0.25, reflecting a 35% increase compared to the same quarter last year [16] - Adjusted EBITDA increased by 68% to $68.8 million, with an adjusted EBITDA margin of 12.3%, up from 10.3% in the prior year [17] - The company experienced a net loss of $3.1 million due to non-recurring expenses related to a transformative acquisition [16] Business Line Data and Key Metrics Changes - The revenue mix for the year included 11.2% organic growth and 30.4% from recent acquisitions [14] - The company achieved a record project backlog of $2.66 billion, indicating strong demand for infrastructure services [17] Market Data and Key Metrics Changes - Local markets in the Sunbelt are growing, with states focused on improving road quality and increasing capacity due to significant migration [9] - Public infrastructure market lettings for roads and bridges increased by approximately 16% year-over-year across the company's eight-state footprint [10] - Florida's infrastructure funding saw contract awards grow by over 50% in the first half of the current state fiscal year due to the Moving Florida Forward program [10] Company Strategy and Development Direction - The company is focused on a strategic growth model that includes both acquisitions and organic growth, with a strong 11% organic growth reported this quarter [11] - The acquisition pipeline remains active, with ongoing conversations in current and potential new states [10] - The company aims to maintain a strong balance sheet while integrating new acquisitions and reducing leverage to approximately 2.5 times in the next four to five quarters [18][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strong demand for infrastructure services and the ability to bid patiently due to a robust backlog [90] - The company anticipates a typical year for construction inflation, estimating inflation could be around 4% to 5% across the total cost structure [44] - Management expects funding for infrastructure projects to grow in the mid to high single digits, supported by both state funding mechanisms and the IIJA [77] Other Important Information - The company has cash and cash equivalents of $132.5 million and $393.4 million available under its credit facility [17] - Capital expenditures for the first quarter were $26.8 million, with total expected capital expenditures for fiscal 2025 in the range of $130 million to $140 million [20] Q&A Session Summary Question: Contribution of recent acquisitions to guidance - Management indicated that the combined revenue contribution from the two recent acquisitions is expected to be in the range of $120 million to $130 million for the remainder of the year, with a backlog contribution of $90 million to $100 million [27] Question: Need to digest recent acquisitions - Management acknowledged the need to maintain a strong balance sheet while integrating new acquisitions, emphasizing a commitment to organizational integration [32] Question: Cost inflation outlook - Management expects a typical year for construction inflation, with costs being passed through in bids, and noted stable energy costs [44] Question: Updates on state DOT funding - Management reported that all states have healthy funding mechanisms, with Texas and Florida leading in infrastructure funding [47] Question: Concerns about funding delays - Management has not heard of any pauses in funding for projects and noted that the new administration is looking to prioritize hard infrastructure [87] Question: Backlog and bidding environment - Management indicated that while the backlog may plateau, they continue to see plenty of bidding opportunities and are able to bid at good margins [91]

As filed with the Securities and Exchange Commission on February 6, 2025 Registration No. 333-283106 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1/A Amendment No. 5 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 JFB CONSTRUCTION HOLDINGS (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) Nevada 6719 99-2549040 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification ...

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 As filed with the Securities and Exchange Commission on January 23, 2025 Registration No. 333-283106 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1/A Amendment No. 3 JFB CONSTRUCTION HOLDINGS (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) Nevada 6719 99-2549040 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification ...

As filed with the Securities and Exchange Commission on December 26, 2024 Registration No. 333-283106 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1/A Amendment No. 2 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 JFB CONSTRUCTION HOLDINGS (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) Nevada 6719 99-2549040 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification ...

As filed with the Securities and Exchange Commission on December 10, 2024 Registration No. 333-283106 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1/A Amendment No. 1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 JFB CONSTRUCTION HOLDINGS (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) Nevada 6719 99-2549040 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification ...

As filed with the Securities and Exchange Commission on November 8, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 JFB CONSTRUCTION HOLDINGS (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Nevada 6719 99-2549040 (I.R.S. Employer Identification No.) 1300 S. Dixie Highw ...

As filed with the Securities and Exchange Commission on January 29, 2024 Registration No. 333-275930 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 4 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Legato Merger Corp. III (Exact name of registrant as specified in its charter) Cayman Islands 6770 98-1761148 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identifi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Legato Merger Corp. III As filed with the Securities and Exchange Commission on January 23, 2024 Registration No. 333-275930 (Exact name of registrant as specified in its charter) Cayman Islands 6770 98-1761148 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identifi ...

As filed with the U.S. Securities and Exchange Commission on October 4, 2023. No. 333-273429 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 3 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 INNO HOLDINGS INC. (Exact name of registrant as specified in its charter) __________________________ | Texas | 3317 | 87-4294543 | | --- | --- | --- | | (State or Other Jurisdiction of | (Primary Standard Industrial | (I.R.S. Employer | | Incorporation or Organiz ...