-=Construction Partners (ROAD) reported earnings on Mon 9 Dec 19 (a/h)

Construction Partners misses by $0.02, misses on revs; guides FY20 revs in-line

Reports Q4 (Sep) earnings of $0.32 per share, $0.02 worse than the S&P Capital IQ Consensus of $0.34; revenues rose 10.0% year/year to $237.3 mln vs the $250.47 mln S&P Capital IQ Consensus.

Project backlog at September 30, 2019 was $531.1 mln, compared to $594.4 mln at September 30, 2018. Backlog is lower than at the same point last year, primarily as a result of the company's strategic focus on recurring repair and maintenance projects while some of the company's markets were letting a project mix that included "mega projects" of the type that the company typically does not pursue.

Co issues in-line guidance for FY20, sees FY20 revs of $830-$870 mln vs. $854.62 mln S&P Capital IQ Consensus. Sees Adj. EBITDA of $94-$102 mln.