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Construction Partners (ROAD) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 7, 2026 · Construction Partners (ROAD) Q3 FY26 earnings results →

Q3 FY26 Revenue up 28% year over year to $999M · 6¢ of every $1 of revenue kept as net profit · operating margin 10.9%

Construction Partners made $999M in Q3 FY26 (+28% Y/Y). Operating margin 10.9%, net earnings $59.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 7, 2026.

Revenue$999M
Year over year+28%
Operating margin10.9%
Net earnings$59.6M
Operating cash flow$93.1M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $999.4M in Q3 FY26, up 28% year over year and up 30% from the previous quarter.

Gross margin was 16.8%, down 0.1 points from Q3 FY25. Operating profit was $109.4M, a 10.9% margin (up 0.3 points year over year). Of the extra revenue versus Q3 FY25, 12% reached operating profit, above the 11% margin then. Operating expenses grew 21% against revenue growth of 28%. Net earnings were $59.6M, up 35% year over year. The effective tax rate was 24.7%.

Operating cash flow was $93.1M (up 12% year over year), 156% of net earnings. Non-cash charges added back $41.9M of depreciation and amortization and $8.8M of share-based compensation. Working capital and other items used $17.2M. Capital expenditures of $62.5M left free cash flow of $30.6M.

Quarterly history

Construction Partners revenue by quarterConstruction Partners revenue by quarter$538MQ4 FY24$572MQ2 FY25$779MQ3 FY25$900MQ4 FY25$809MQ1 FY26$769MQ2 FY26$999MQ3 FY26
Construction Partners net earnings by quarterConstruction Partners net earnings by quarter$29.3MQ4 FY24$4.2MQ2 FY25$44.0MQ3 FY25$56.6MQ4 FY25$17.2MQ1 FY26$9.2MQ2 FY26$59.6MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 7, 2026$999M+28%10.9%$59.6M$93.1M
Q2 FY2610-QMay 8, 2026$769M+35%4.9%$9.2M$65.2M
Q1 FY2610-QFeb 9, 2026$809M+44%6.2%$17.2M$82.6M
Q4 FY2510-KNov 25, 2025$900M+67%11.2%$56.6M$112M
Q3 FY2510-QAug 7, 2025$779M+50%10.6%$44.0M$83.0M
Q2 FY2510-QMay 9, 2025$572M+54%4.8%$4.2M$55.6M
Q4 FY2410-KNov 25, 2024$538M+13%8.5%$29.3M$95.9M

Charts

Construction Partners: revenue growth, year over year and quarter over quarterConstruction Partners: revenue growth, year over year and quarter over quarterY/YQ/Q+13%Q4 FY24+54%+6%Q2 FY25+50%+36%Q3 FY25+67%+15%Q4 FY25+44%-10%Q1 FY26+35%-5%Q2 FY26+28%+30%Q3 FY26
Latest (Q3 FY26): Y/Y +28%, Q/Q +30%.
Construction Partners: where the cash came from (+) and went (−), TTM to Q3 FY26Construction Partners: where the cash came from (+) and went (−), TTM to Q3 FY26Acquisitions−$557MOperating cash flow$353MNet borrowing (+) / repaid (−)$308MCapital spending−$177MOther financing$42.6MBuybacks−$32.5MAsset & business sales$30.9MCash drawn (+) / kept (−)$21.6MOther investing$11.2M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Construction Partners: profit against cash, quarter by quarterConstruction Partners: profit against cash, quarter by quarterNet incomeOperating cash flow$29.3M$95.9MQ4 FY24−$3.1M$40.7MQ1 FY25$4.2M$55.6MQ2 FY25$44.0M$83.0MQ3 FY25$56.6M$112MQ4 FY25$17.2M$82.6MQ1 FY26$9.2M$65.2MQ2 FY26$59.6M$93.1MQ3 FY26
Latest (Q3 FY26): Net income $59.6M, Operating cash flow $93.1M.
Construction Partners: diluted shares by fiscal yearConstruction Partners: diluted shares by fiscal year52MFY2052MFY2152MFY2252MFY2353MFY2455MFY25
+7.2% since FY20: more shares outstanding (issuance, stock pay).
Construction Partners: long-term debt falling due (FY25)Construction Partners: long-term debt falling due (FY25)$38.5M2026$38.5M2027$38.5M2028$38.5M2029$481M2030$991MLater
Cash $156M, short-term investments —, long-term debt $1.6B at 2025-09-30.
Construction Partners in its industry: growth against margin (12 companies, SIC 1600)Construction Partners in its industry: growth against margin (12 companies, SIC 1600)revenue growth, year over year →↑ operating marginmedian +28%median 7%JFLRKBRGVASTRLMWHORNCDNLSLNDSHIMRNGEROAD (+28%, 11%)
Heavy Construction Other Than Bldg Const - Contractors; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

Buys from

About Construction Partners

We are a civil infrastructure company that specializes in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas. Through our wholly owned subsidiaries, we provide a variety of products and services to both public and private infrastructure projects, with an emphasis on highways, roads, bridges, airports, and commercial and residential developments. Consistent with our vertical integration strategy, our primary operations consist of (i) manufacturing and distributing hot mix asphalt (“HMA”) for both internal use and sales to third parties in connection with construction projects, (ii) paving activities, including the construction of roadway base layers and application of asphalt pavement, (iii) site development, including the installation of utility and drainage systems, (iv) mining aggregates, such as…

In its own words, from its 10-K, filed Nov 25, 2025.

Construction Partners against its Heavy Construction Other Than Bldg Const - Contractors peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +28% against the peers' median +28%. Operating margin: 10.9% against the peers' median 7.3%.

CompanyQuarterRevenueY/YOp. margin
ROAD Construction PartnersQ3 FY26$999M+28%10.9%
J Jacobs SolutionsQ3 FY26$4.1B+34%7.0%
FLR FluorQ3 2026$3.7B+10%6.0%
KBR KBRQ3 2026$2.0B+5%9.2%
GVA Granite ConstructionQ3 2026$1.8B+23%12.7%
STRL Sterling InfrastructureQ3 2026$1.6B+127%19.6%
MWH Solv EnergyQ2 2026$951M+78%7.3%
BYOP KiNRGQ2 2026$369M—4.6%
ORN Orion Group HoldingsQ3 2026$256M+14%3.3%

Source: Construction Partners 10-Q on SEC EDGAR · CIK 1718227 · Heavy Construction Other Than Bldg Const - Contractors

Guidance and outlook

Construction Partners Revenue: guidance against what was reportedConstruction Partners Revenue: guidance against what was reportedguided rangereported (above / within / below)FY24$1.8BFY25$2.8BFY26FY27
Met or beat 1 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns ROAD and who is buying

Largest holders of ROAD (13F)Largest holders of ROAD (13F)FMR LLC$849MBlackRock$461MVanguard Group$458MVanguard Capital Management LLC$238MVanguard Portfolio Management LLC$234MKayne Anderson Rudnick Investment…$181MGeode Capital Management, LLC$152MGeneva Capital Management LLC$148MFirst Trust Advisors LP$145MState Street$139M
Funds' net buying of ROAD by quarter (13F)Funds' net buying of ROAD by quarter (13F)−$39.5M2024-09−$117M2024-12$140M2025-03−$48.4M2025-06−$138M2025-09−$56.0M2025-12$177M2026-03$21.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ROAD

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：Construction Partners（ROAD）财报

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