Jun 2026 (Q3 FY26) — Aug 7, 2026
Construction Partners Q3 FY26 — Record Backlog and Raised Outlook
Read the full callConstruction Partners (ROAD) earnings
- Jun 2026
- Jun 2026 (Q3 FY26)
- Sep 2025
Construction Partners earnings: last reported Fri, 7 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 999 | +28.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 10.9 | +0.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 59.6 | +35.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
13 of 16 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Debt-to-EBITDA leverage ratio deleveraging target | long-term sustainable target of 1x to 2.5x, expected within 4 to 6 quarters | Sep 2024 | We remain committed to our strategy of reducing the leverage ratio to approximately 2.5x to support sustained profitable growth. | Diluted |
| FY26 EBITDA-to-operating-cash-flow conversion guide | 75% to 85% | Sep 2025 | We expect to convert 75% to 85% of EBITDA to cash flow from operations in fiscal year '26. | On Track |
3 of Construction Partners, Inc.'s 29 targets were missed. See which ones, and which are quietly gone. The 2 above are the free sample; 27 more targets are in the full ledger.
Claimed
- Achieved record project backlog of $3.36 billion at June 30, 2026.
- Revenue increased 28.2% year-over-year to $999.4 million in Q3 FY26.
- Adjusted EBITDA grew 24% year-over-year to $163 million in Q3 FY26.
- Raised fiscal year 2026 revenue guidance to $3.64 billion to $3.68 billion.
- Raised fiscal year 2026 adjusted EBITDA guidance to $559 million to $569 million.
Qualified
- Experienced unusually wet weather across many markets in May, impacting Q3 operations.
- Navigated continued energy cost inflation, though largely mitigated by pass-through model.
Price
$83.23 +2.96% · +$2.39
Performance −32.8% 1Y
1Y: $123.83 on 14 Oct 2025 → $83.23. High $140.48 (8 May 2026), low $80.84 (14 Oct 2026).
- Previous close
- $80.84
- 52-week range
- $80.84 – $140.48
- One year
- −28.25%
Overview
- Symbol
- ROAD
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
13 of 16 judged targets kept · 13 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Debt-to-EBITDA leverage ratio deleveraging target | long-term sustainable target of 1x to 2.5x, expected within 4 to 6 quarters | Sep 2024 | We remain committed to our strategy of reducing the leverage ratio to approximately 2.5x to support sustained profitable growth. | Diluted |
| FY26 EBITDA-to-operating-cash-flow conversion guide | 75% to 85% | Sep 2025 | We expect to convert 75% to 85% of EBITDA to cash flow from operations in fiscal year '26. | On Track |
Claimed
- Achieved record project backlog of $3.36 billion at June 30, 2026.
- Revenue increased 28.2% year-over-year to $999.4 million in Q3 FY26.
- Adjusted EBITDA grew 24% year-over-year to $163 million in Q3 FY26.
- Raised fiscal year 2026 revenue guidance to $3.64 billion to $3.68 billion.
- Raised fiscal year 2026 adjusted EBITDA guidance to $559 million to $569 million.
Qualified
- Experienced unusually wet weather across many markets in May, impacting Q3 operations.
- Navigated continued energy cost inflation, though largely mitigated by pass-through model.
The full ledger
Open Construction Partners, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 29 tracked commitments, with each call’s wording and source.
Call summaries
Every analysed call
Construction Partners earnings calls (ROAD)
Financials
What the filings say
Net profit, year on year: +35% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 538 | 562 | 572 | 779 | 900 | 809 | 769 | 999 |
| Operating profit | 46 | 14 | 27 | 83 | 101 | 50 | 37 | 109 |
| Operating margin | 8.5% | 2.5% | 4.8% | 10.6% | 11.2% | 6.2% | 4.9% | 10.9% |
| Interest | 6 | 18 | 22 | 25 | 25 | 27 | 26 | 30 |
| Profit before tax | 40 | -4 | 6 | 58 | 75 | 23 | 12 | 79 |
| Tax rate | 25.9% | 21.8% | 23.6% | 24.0% | 24.5% | 24.5% | 23.9% | 24.7% |
| Net profit | 29 | -3 | 4 | 44 | 57 | 17 | 9 | 60 |
| EPS ($ per share) | — | -0.06 | 0.08 | 0.80 | — | 0.31 | 0.16 | 1.07 |
| Line item | Sep 2018 | Sep 2019 | Sep 2020 | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | — | — | — | — | — | — | — |
| Reserves | 73 | 116 | 156 | 176 | 197 | 246 | 315 | 417 |
| Total liabilities | 197 | 188 | 243 | 398 | 640 | 703 | 968 | 2,327 |
| Fixed assets | 179 | 206 | 237 | 405 | 481 | 505 | 630 | 1,153 |
| Total assets | 496 | 532 | 628 | 807 | 1,096 | 1,220 | 1,542 | 3,239 |
| Line item | Sep 2018 | Sep 2019 | Sep 2020 | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 66 | 55 | 105 | 49 | 16 | 157 | 209 | 291 |
| Cash from investing | -90 | -60 | -79 | -263 | -197 | -143 | -308 | -1,280 |
| Cash from financing | 95 | -14 | 42 | 124 | 159 | -0 | 126 | 1,071 |
| Net cash flow | 72 | -19 | 68 | -91 | -22 | 14 | 28 | 82 |
| Capital expenditure | -43 | -42 | -53 | -56 | -69 | -98 | -88 | -138 |
| Free cash flow | 23 | 13 | 53 | -8 | -52 | 59 | 121 | 153 |
Insider filings
42 filings between Oct 17, 2025 and Oct 9, 2026.
Open market
decisions to buy or sellNobody bought or sold ROAD on the open market in this window. The filings below are 19 awards, 15 tax withholdings, 4 gifts, 3 other filings and 1 conversion.
Compensation
not trading decisions- 19
- Award — granted as compensation
- 15
- Tax withheld — shares kept back by the company to cover tax
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 9, 2026 | Hoffman Gregory A SVP, Chief Financial Officer | Award | 49 | $3.7K |
| Oct 9, 2026 | Baugnon Robert G Senior VP, Personnel and Admin | Award | 67 | $5.1K |
| Oct 8, 2026 | Fleming Ned N III Director | Other | 20,160 | $0 |
| Oct 2, 2026 | Baugnon Robert G Senior VP, Personnel and Admin | Tax withheld | 895 | $80.6K |
| Oct 2, 2026 | Fleming Ned N. IV Senior VP - Strategy & Bus Dev | Tax withheld | 625 | $56.3K |
| Oct 2, 2026 | Brooks Judson Ryan SVP and General Counsel | Tax withheld | 774 | $69.7K |
| Oct 2, 2026 | Hoffman Gregory A SVP, Chief Financial Officer | Tax withheld | 1,375 | $123.8K |
| Oct 2, 2026 | Smith Fred Julius III President and CEO | Tax withheld | 2,903 | $261.4K |
| Aug 28, 2026 | Brooks Judson Ryan SVP and General Counsel | Gift | 100 | $0 |
| Jul 2, 2026 | Baugnon Robert G Senior VP, Personnel and Admin | Award | 53 | $5.1K |
| Apr 2, 2026 | Baugnon Robert G Senior VP, Personnel and Admin | Award | 55 | $5.1K |
| Dec 24, 2025 | Shaffer Stefan L Director | Other | 266 | $0 |
| Dec 16, 2025 | McKay Michael H Director | Gift | 1,000 | $0 |
| Dec 12, 2025 | Brooks Judson Ryan SVP and General Counsel | Gift | 2,000 | $0 |
| Nov 25, 2025 | Smith Fred Julius III President and CEO | Conversion | 30,000 | $0 |
| Nov 25, 2025 | Smith Fred Julius III President and CEO | Gift | 30,000 | $0 |
| Nov 24, 2025 | Smith Fred Julius III President and CEO | Other | 33,658 | $0 |
| Nov 19, 2025 | Fleming Ned N. IV Insider | Tax withheld | 2,129 | $238.5K |
| Nov 19, 2025 | Hoffman Gregory A SVP, Chief Financial Officer | Tax withheld | 3,527 | $395.1K |
| Nov 19, 2025 | Brooks Judson Ryan SVP and General Counsel | Tax withheld | 2,908 | $325.8K |
| Nov 19, 2025 | Smith Fred Julius III President and CEO | Tax withheld | 12,785 | $1.43M |
| Nov 19, 2025 | Baugnon Robert G Senior VP, Personnel and Admin | Tax withheld | 2,251 | $252.2K |
| Nov 4, 2025 | Baugnon Robert G Senior VP, Personnel and Admin | Award | 1,428 | $0 |
| Nov 4, 2025 | Baugnon Robert G Senior VP, Personnel and Admin | Award | 3,137 | $0 |
| Nov 4, 2025 | Fleming Ned N. IV Insider | Award | 3,137 | $0 |
| Nov 4, 2025 | Fleming Ned N. IV Insider | Award | 1,428 | $0 |
| Nov 4, 2025 | Brooks Judson Ryan Senior Vice President, Legal | Award | 3,801 | $0 |
| Nov 4, 2025 | Brooks Judson Ryan Senior Vice President, Legal | Award | 1,428 | $0 |
| Nov 4, 2025 | Smith Fred Julius III President and CEO | Award | 15,905 | $0 |
| Nov 4, 2025 | Smith Fred Julius III President and CEO | Award | 3,816 | $0 |
| Nov 4, 2025 | Hoffman Gregory A Senior VP, Finance | Award | 1,912 | $0 |
| Nov 4, 2025 | Hoffman Gregory A Senior VP, Finance | Award | 4,689 | $0 |
| Oct 20, 2025 | Hoffman Gregory A Senior VP, Finance | Tax withheld | 4,925 | $566.4K |
| Oct 20, 2025 | Smith Fred Julius III President and CEO | Tax withheld | 4,925 | $566.4K |
| Oct 20, 2025 | Fleming Ned N. IV Insider | Tax withheld | 4,154 | $477.8K |
| Oct 20, 2025 | Baugnon Robert G Senior VP, Personnel and Admin | Tax withheld | 1,025 | $117.9K |
| Oct 20, 2025 | Brooks Judson Ryan Senior Vice President, Legal | Tax withheld | 1,970 | $226.6K |
| Oct 17, 2025 | Hoffman Gregory A Senior VP, Finance | Award | 4,925 | $0 |
| Oct 17, 2025 | Smith Fred Julius III President and CEO | Award | 4,925 | $0 |
| Oct 17, 2025 | Fleming Ned N. IV Insider | Award | 4,925 | $0 |
| Oct 17, 2025 | Baugnon Robert G Senior VP, Personnel and Admin | Award | 2,463 | $0 |
| Oct 17, 2025 | Brooks Judson Ryan Senior Vice President, Legal | Award | 1,970 | $0 |
| Oct 2, 2025 | Smith Fred Julius III President and CEO | Tax withheld | 26,651 | $3.38M |
| Oct 2, 2025 | Baugnon Robert G Senior VP, Personnel and Admin | Tax withheld | 5,152 | $654.3K |
| Oct 2, 2025 | Hoffman Gregory A Senior VP, Finance | Tax withheld | 8,051 | $1.02M |
| Oct 2, 2025 | Fleming Ned N. IV Insider | Tax withheld | 444 | $56.4K |
| Oct 2, 2025 | Brooks Judson Ryan Senior Vice President, Legal | Tax withheld | 6,481 | $823.1K |
| Oct 1, 2025 | Baugnon Robert G Senior VP, Personnel and Admin | Award | 72 | $6.4K |
| Sep 18, 2025 | McKay Michael H Director | Gift | 1,000 | $0 |
| Jul 2, 2025 | McKay Michael H Director | Gift | 1,000 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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