Construction Partners, Inc. (NASDAQ:ROAD) has smashed expectations for fiscal year 2024, delivering record results despite a rough stretch of hurricane disruptions. The civil infrastructure company saw revenue soar nearly 17% to $1.82-$1.83 billion, with net income surging over 40% to $68-$70 million. Adjusted EBITDA jumped roughly 27%, landing in the $219-$222 million range. Construction Partners' ability to weather challenges from Hurricanes Debby, Francine, and Helene while keeping a project backlog of $1.95 billion underscores its resilience and operational strength across 75 Sunbelt markets.

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As the company gears up for fiscal 2025, it is projecting even bigger numbers, with revenue expected to hit $2.42-$2.52 billion and net income climbing to $90-$106 million. Adjusted EBITDA is forecasted to rise to $338-$368 million, as margins expand to 14.0%-14.6%. A game-changing move is on the horizon: the planned acquisition of Lone Star Paving. This deal will solidify Construction Partners' foothold in central Texas and accelerate its growth timeline by nearly two years, with immediate gains anticipated for earnings.

CEO Fred J. Smith, III isn't holding back on his ambitions. He's betting big on the momentum in Sunbelt markets and a surge in infrastructure spending to drive the company toward its ROAD-Map 2027 goals faster than expected. With Lone Star Paving soon to be part of the fold, Construction Partners is poised to capitalize on high-growth opportunities, scaling up its operations and rewarding shareholders as it targets new heights in the booming infrastructure landscape.

This article first appeared on GuruFocus.