ROAD News & Events

Reports Q1 revenue $769.2M, consensus $678.45M. Project backlog was a record $3.14B at March 31, compared to $2.84B at March 31, 2025 and $3.09B at December 31, 2025. Fred J. Smith, III, the Company's President and CEO, said, "We delivered a strong quarter, driven by exceptional execution across the business. Our teams throughout our family of companies performed at a high level, consistently outperforming on project delivery, productivity, and safety. Favorable weather conditions further supported our ability to advance work efficiently and exceed expectations. Additionally, energy cost volatility had a limited impact on results due to the pass-through nature of our project contracts, as well as the physical hedge inherent to our vertical integration. Strong financial performance in the quarter led to 35% growth in both revenue and Adjusted EBITDA, including 11% organic revenue growth. Our local teams across our Sunbelt footprint continued to capture meaningful project wins, driving our backlog to a record $3.14B. With the peak construction season ahead in the second half of our fiscal year, we are raising our FY26 outlook, and we are well-positioned to execute against this record backlog and sustain our growth momentum."

Sees FY26 Net income $159.0M-$162.0M; adjusted net income $170.4M-$174.2M; Adjusted EBITDA $552.0M-$564.0M; and Adjusted EBITDA margin in the range of 15.38%-15.45%. Ned N. Fleming, III, the Company's Executive Chairman, stated, "We are pleased with our team's strong execution this quarter as we continue to advance CPI's proven growth strategy. Our differentiated business model, built on cost pass-through, vertical integration, and a decentralized partnership approach, remains a powerful and often underappreciated driver of sustainable results. Supported by a strong balance sheet, disciplined leadership, and an expanding Sunbelt footprint, CPI is well-positioned to compound shareholder value through both geographic expansion and increasing operational scale. The long-term demand environment remains compelling. Growing infrastructure repair and maintenance needs, sustained population migration, economic expansion, and rising roadway capacity demands across the Sunbelt continue to create a durable and growing addressable market for our services. Against this powerful backdrop, the Board and I remain highly confident in CPI's long-term trajectory and the significant opportunities ahead."