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DJ Road Projects Undimmed for Construction Partners Despite Pandemic -- Market Talk

· 02/05/2021 07:46

0746 ET - The economic effects of the coronavirus pandemic have strained municipal finances, but funding for public infrastructure projects remains solid in the Southeastern states served by Construction Partners, which makes and maintains roads. Revenue in the latest quarter climbs 8.9% year over year to $190.9M, and the company's backlog finishes the quarter at $655.6M, up from $608.1M three months earlier. "Consistent demand in both private and public markets ... drove strong financial performance in the first quarter," Chief Executive Charles E. Owens says. "We see strength in the funding programs across the states in which we operate." Shares decline 0.9% pre-market. (matt.grossman@wsj.com, @mattgrossman)

(END) Dow Jones Newswires

February 05, 2021 07:46 ET (12:46 GMT)

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