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Construction Partners Closes Asphalt Express Purchase to Expand Supply Chain

Construction Partners logoConstruction Partners
Sig3.65Sen+5.10Env0.00Soc0.00Gov0.00

On August 31, Construction Partners (NASDAQ:ROAD) closed its purchase of Asphalt Express Enterprises, adding a rail-served Ardmore, Oklahoma site and an active fleet hauling liquid asphalt into Oklahoma and northern Texas. The company posted $999.4 million revenue in the fiscal third quarter, up 28.2%, with adjusted EBITDA up 23.8% to $163.0 million, record backlog, and a raised full-year outlook despite energy-cost inflation and extremely wet weather.

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