ROAD on Nasdaq
Construction Partners, Inc.
In its 2025 annual report the company says: “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.”6 It is headquartered in Dover, United States.2
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Last updated Oct 21, 2026.
Overview
Compare with STERLING INFRASTRUCTURE, INC., Granite Construction or KBR, Inc., or pick any stock.
- TickerROAD on Nasdaq2
- IndustryHeavy Construction Other Than Bldg Const - Contractors2
- HeadquartersDover, United States2
- Incorporated inDE4
- Business address290 Healthwest Dr., Suite 2, Dothan, Al 363034
- Filer categoryLarge accelerated filer4
- Legal formCorporation2
- LEI549300MHLFL4E8JLZU442
- StatusActive2
- LEI statusIssued and current2
- Registered address108 LAKELAND AVE., 19901 Dover, United States2
- Registered withDivision of Corporations, Department of State, 43408242
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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 …6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue84¢$2.4B
- Other costs11¢$304.6M
- Income tax1¢$32.7M
- Profit4¢$101.8M
Out of $2.8B in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Capital spending47¢$137.9M
- Share buybacks8¢$23.5M
- Kept or used elsewhere45¢$129.8M
Out of $291.3M of cash from operations.3
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Revenues | $2.8B | $1.8B | $1.6B |
| Cost of revenues | $2.4B | $1.6B | $1.4B |
| Gross profit | $439.1M | $258.3M | $196.4M |
| General and administrative expenses | -$199.3M | -$147.6M | -$126.5M |
| Acquisition-related expenses | -$25.9M | -$3.9M | -$442.0K |
| Gain on sale of property, plant and equipment | $10.9M | $4.5M | $7.0M |
| Gain on facility exchange | $0 | $0 | $5.4M |
| Operating income | $224.8M | $111.2M | $81.9M |
| Interest expense, net | -$90.4M | -$19.1M | -$17.3M |
| Other income (expense) | $86.0K | -$70.0K | $875.0K |
| Income before provision for income taxes and earnings from investment in joint venture | $134.5M | $92.1M | $65.4M |
| Provision for income taxes | $32.7M | $23.2M | $16.4M |
| Loss from investment in joint venture | -$12.0K | -$3.0K | $0 |
| Net income | $101.8M | $68.9M | $49.0M |
| Unrealized (loss) gain on interest rate swap contract, net | -$3.2M | -$11.9M | $1.3M |
| Unrealized gain (loss) on restricted investments, net | $88.0K | $697.0K | -$223.0K |
| Other comprehensive (loss) income, net | -$3.1M | -$11.2M | $1.1M |
| Comprehensive income | $98.6M | $57.7M | $50.1M |
| Basic (in dollars per share) | $1.85 | $1.33 | $0.95 |
| Diluted (in dollars per share) | $1.84 | $1.31 | $0.94 |
| Basic (in shares) | 54.9M shares | 51.9M shares | 51.8M shares |
| Diluted (in shares) | 55.4M shares | 52.6M shares | 52.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $156.1M | $74.7M | ||
| Restricted cash | $3.0M | $2.0M | ||
| Contracts receivable including retainage, net | $549.9M | $350.8M | $303.7M | |
| Costs and estimated earnings in excess of billings on uncompleted contracts | $45.3M | $26.0M | $27.3M | |
| Inventories | $155.1M | $106.7M | ||
| Prepaid expenses and other current assets | $25.5M | $24.8M | ||
| Total current assets | $934.8M | $585.0M | ||
| Property, plant and equipment, net | $1.2B | $629.9M | ||
| Operating lease right-of-use assets | $76.4M | $38.9M | ||
| Goodwill | $943.3M | $231.7M | $159.3M | |
| Intangible assets, net | $79.2M | $20.5M | ||
| Investment in joint venture | $72.0K | $84.0K | ||
| Restricted investments | $23.2M | $18.0M | ||
| Other assets | $28.8M | $18.0M | ||
| Total assets | $3.2B | $1.5B | ||
| Accounts payable | $284.2M | $182.6M | ||
| Billings in excess of costs and estimated earnings on uncompleted contracts | $129.3M | $120.1M | $78.9M | |
| Current portion of operating lease liabilities | $19.9M | $9.1M | ||
| Current maturities of long-term debt | $38.5M | $26.6M | ||
| Accrued expenses and other current liabilities | $110.2M | $42.2M | ||
| Total current liabilities | $582.0M | $380.5M | ||
| Long-term debt, net of current maturities and deferred debt issuance costs | $1.6B | $487.0M | ||
| Operating lease liabilities, net of current portion | $57.2M | $30.7M | ||
| Deferred income taxes, net | $80.1M | $53.9M | ||
| Other long-term liabilities | $34.0M | $16.5M | ||
| Total long-term liabilities | $1.7B | $587.9M | ||
| Total liabilities | $2.3B | $968.4M | ||
| Preferred stock, par value $0.001; 10,000,000 shares authorized at September 30, 2025 and September 30, 2024 and no shares issued and outstanding | $0 | $0 | ||
| Additional paid-in capital | $541.2M | $278.1M | ||
| Accumulated other comprehensive income, net | $4.4M | $7.5M | $18.7M | |
| Retained earnings | $417.0M | $315.2M | ||
| Total stockholders equity | $912.0M | $573.7M | $516.6M | $455.9M |
| Total liabilities and stockholders equity | $3.2B | $1.5B | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $156.1M | $74.7M | ||
| Restricted cash | $3.0M | $2.0M | ||
| Contracts receivable including retainage, net | $549.9M | $350.8M | $303.7M | |
| Costs and estimated earnings in excess of billings on uncompleted contracts | $45.3M | $26.0M | $27.3M | |
| Inventories | $155.1M | $106.7M | ||
| Prepaid expenses and other current assets | $25.5M | $24.8M | ||
| Total current assets | $934.8M | $585.0M | ||
| Property, plant and equipment, net | $1.2B | $629.9M | ||
| Operating lease right-of-use assets | $76.4M | $38.9M | ||
| Goodwill | $943.3M | $231.7M | $159.3M | |
| Intangible assets, net | $79.2M | $20.5M | ||
| Investment in joint venture | $72.0K | $84.0K | ||
| Restricted investments | $23.2M | $18.0M | ||
| Other assets | $28.8M | $18.0M | ||
| Total assets | $3.2B | $1.5B | ||
| Accounts payable | $284.2M | $182.6M | ||
| Billings in excess of costs and estimated earnings on uncompleted contracts | $129.3M | $120.1M | $78.9M | |
| Current portion of operating lease liabilities | $19.9M | $9.1M | ||
| Current maturities of long-term debt | $38.5M | $26.6M | ||
| Accrued expenses and other current liabilities | $110.2M | $42.2M | ||
| Total current liabilities | $582.0M | $380.5M | ||
| Long-term debt, net of current maturities and deferred debt issuance costs | $1.6B | $487.0M | ||
| Operating lease liabilities, net of current portion | $57.2M | $30.7M | ||
| Deferred income taxes, net | $80.1M | $53.9M | ||
| Other long-term liabilities | $34.0M | $16.5M | ||
| Total long-term liabilities | $1.7B | $587.9M | ||
| Total liabilities | $2.3B | $968.4M | ||
| Preferred stock, par value $0.001; 10,000,000 shares authorized at September 30, 2025 and September 30, 2024 and no shares issued and outstanding | $0 | $0 | ||
| Additional paid-in capital | $541.2M | $278.1M | ||
| Accumulated other comprehensive income, net | $4.4M | $7.5M | $18.7M | |
| Retained earnings | $417.0M | $315.2M | ||
| Total stockholders equity | $912.0M | $573.7M | $516.6M | $455.9M |
| Total liabilities and stockholders equity | $3.2B | $1.5B | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Net income | $101.8M | $68.9M | $49.0M |
| Depreciation, depletion, accretion and amortization | $148.3M | $92.9M | $79.1M |
| Amortization of deferred debt issuance costs | $3.8M | $362.0K | $299.0K |
| Unrealized loss on derivative instruments | $0 | $184.0K | $342.0K |
| Provision for bad debt | $478.0K | $491.0K | $456.0K |
| Gain on sale of property, plant and equipment | -$10.9M | -$4.5M | -$7.0M |
| Gain on facility exchange | $0 | $0 | -$5.4M |
| Realized losses on restricted investments | $84.0K | $53.0K | $30.0K |
| Share-based compensation expense | $37.0M | $14.4M | $10.8M |
| Loss from investment in joint venture | $12.0K | $3.0K | $0 |
| Deferred income taxes | $27.5M | $22.7M | $11.2M |
| Other non-cash adjustments | -$592.0K | -$300.0K | -$263.0K |
| Contracts receivable including retainage | -$56.0M | -$6.6M | -$26.0M |
| Costs and estimated earnings in excess of billings on uncompleted contracts | -$10.8M | $5.5M | $2.6M |
| Inventories | -$5.2M | -$15.5M | -$7.3M |
| Prepaid expenses and other current assets | $7.5M | -$13.0M | $3.6M |
| Other assets | -$2.6M | -$522.0K | -$129.0K |
| Accounts payable | $47.5M | $13.4M | $17.2M |
| Billings in excess of costs and estimated earnings on uncompleted contracts | -$5.6M | $24.9M | $24.1M |
| Accrued expenses and other current liabilities | $9.6M | $4.8M | $2.3M |
| Other long-term liabilities | -$602.0K | $804.0K | $2.2M |
| Net cash provided by operating activities | $291.3M | $209.1M | $157.2M |
| Purchases of property, plant and equipment | -$137.9M | -$87.9M | -$97.8M |
| Proceeds from sale of property, plant and equipment | $17.8M | $14.1M | $17.7M |
| Proceeds from facility exchange | $0 | $0 | $37.0M |
| Business acquisitions, net of cash acquired | -$1.2B | -$231.8M | -$91.8M |
| Proceeds from the sale of restricted investments | $9.9M | $3.6M | $2.9M |
| Purchases of restricted investments | -$14.8M | -$5.5M | -$11.4M |
| Net cash used in investing activities | -$1.3B | -$307.6M | -$143.4M |
| Proceeds from issuance of long-term debt, net of debt issuance costs | $1.2B | $210.2M | $103.0M |
| Principal payments of long-term debt | -$147.3M | -$72.8M | -$103.1M |
| Purchase of treasury stock | -$23.5M | -$11.3M | -$139.0K |
| Net cash provided by (used in) financing activities | $1.1B | $126.1M | -$264.0K |
| Net change in cash, cash equivalents and restricted cash | $82.3M | $27.6M | $13.5M |
| Cash paid for interest | $80.6M | $21.7M | $19.2M |
| Cash paid for income taxes | $5.5M | $5.4M | $1.0M |
| Cash paid for operating lease liabilities | $17.4M | $6.9M | $3.0M |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $48.6M | $29.1M | $3.1M |
| Property, plant and equipment financed with accounts payable | $6.5M | $7.2M | $2.5M |
| Amounts (receivable) payable to sellers in business combinations | $57.5M | -$153.0K | $0 |
No quarter-by-quarter statement was filed.
Corporate structure
Construction Partners, Inc. sits at the top of its group. 19 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Construction Partners, Inc.
- BlackRock Filed SCHEDULE 13G/A on Construction Partners, Inc., latest Aug 6, 2026 (5 filings since Feb 3, 2022)
- FMR LLC Filed SCHEDULE 13G/A on Construction Partners, Inc., latest May 6, 2026 (4 filings since May 12, 2025)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Construction Partners, Inc., latest Mar 26, 2026 (5 filings since Feb 9, 2023)
- SunTx Capital II Management Corp. Filed SCHEDULE 13G/A on Construction Partners, Inc., latest Nov 14, 2025 (4 filings since Feb 13, 2024)
- KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC Filed SCHEDULE 13G/A on Construction Partners, Inc., latest Nov 13, 2025 (6 filings since Feb 14, 2022)
- GENEVA CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on Construction Partners, Inc., latest Sep 8, 2025 (5 filings since Feb 11, 2022)
- Ned N. Fleming Iv. Filed SCHEDULE 13D/A on Construction Partners, Inc., latest Aug 8, 2025 (4 filings since Aug 11, 2023)
- Conestoga Capital Advisors, LLC Filed SCHEDULE 13G/A on Construction Partners, Inc., latest Jan 10, 2025 (4 filings since Jan 10, 2022)
- Invesco Filed SC 13G/A on Construction Partners, Inc., latest Feb 1, 2024 (2 filings since Feb 10, 2023)
- SunTx Capital Management Corp. Filed SC 13G/A on Construction Partners, Inc., latest Feb 14, 2023 (2 filings since Feb 14, 2022)
- WASATCH ADVISORS LP Filed SC 13G/A on Construction Partners, Inc., latest Feb 8, 2023 (2 filings since Feb 10, 2022)
- Construction Partners, Inc. Dover, Delaware, United States
- ACE Aggregates, LLC Subsidiary · Texas, United States
- Asphalt Inc., LLC Subsidiary · Texas, United States
- C.W. Roberts Contracting, Incorporated Subsidiary · Florida, United States
- Construction Partners Risk Management, Inc. Subsidiary · Alabama, United States
- Construction Partners Risk Services, Inc. Subsidiary · Alabama, United States
- Durwood Greene Construction Co. Subsidiary · Texas, United States
- FSC II, LLC Subsidiary · North Carolina, United States
- G&S Asphalt, Inc. Subsidiary · Texas, United States
- King Asphalt, Inc. Subsidiary · South Carolina, United States
- Lone Star Materials & Asphalt, LLC Subsidiary · Texas, United States
- Overland Corporation Subsidiary · Oklahoma, United States
- Overland Materials and Manufacturing, Inc. Subsidiary · Oklahoma, United States
- P&S Paving, LLC Subsidiary · Florida, United States
- Pavement Restorations, Inc. Subsidiary · Tennessee, United States
- Pelican Asphalt Company, LLC Subsidiary · Texas, United States
- PRI of East Tennessee, Inc. Subsidiary · Tennessee, United States
- The Scruggs Company Subsidiary · Georgia, United States
- Wiregrass Construction Company, Inc. Subsidiary · Alabama, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Construction Partners, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Construction in progress | $28.8M3 Sep 30, 2025 | $18.3M3 Sep 30, 2024 | +57.4% |
| Property and equipment, before depreciation | $1.7B3 Sep 30, 2025 | $1.0B3 Sep 30, 2024 | +58.9% |
| Accumulated depreciation | $526.4M3 Sep 30, 2025 | $426.8M3 Sep 30, 2024 | +23.3% |
| Property and equipment, net | $1.2B3 Sep 30, 2025 | $629.9M3 Sep 30, 2024 | +83.0% |
| Operating-lease assets (leased space) | $76.4M3 Sep 30, 2025 | $38.9M3 Sep 30, 2024 | +96.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $156.1M3 Sep 30, 2025 | $74.7M3 Sep 30, 2024 | +109.0% |
| Stakes in other companies (equity method) | $72.0K3 Sep 30, 2025 | $84.0K3 Sep 30, 2024 | −14.3% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $943.3M3 Sep 30, 2025 | $231.7M3 Sep 30, 2024 | +307.2% |
| Intangible assets, net (excluding goodwill) | $79.2M3 Sep 30, 2025 | $20.5M3 Sep 30, 2024 | +285.6% |
| Accumulated amortization | $11.1M3 Sep 30, 2025 | $6.1M3 Sep 30, 2024 | +82.0% |
| Finite-lived intangibles, net | $79.2M3 Sep 30, 2025 | $20.5M3 Sep 30, 2024 | +285.6% |
Inventory
Properties, in its own words
Our principal executive office is located in Dothan, Alabama, in a building that we own. As of November 20, 2025, we operated (i) 109 HMA plants in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas, (ii) 17 aggregates facilities in Alabama, Florida, Georgia and Texas and (iii) three liquid asphalt terminals in Alabama, Florida and Texas. Our HMA plants operate at varying levels of utilization depending on market conditions. We maintain offices at our HMA plants, aggregates facilities and liquid asphalt terminals as we determine to be appropriate under the circumstances. We consider our plants and other physical properties, whether owned or leased, to be suitable, adequate, and of sufficient productive capacity to meet the requirements of our business. However, we routinely evaluate the purchase or lease of additional properties or the consolidation of our properties as our business needs change.
The table below summarizes the locations and the nature of our ownership or leasehold interest in each of our HMA plants, aggregates facilities and liquid asphalt terminals as of November 20, 2025.
The rest of Item 2
HMA Plants · Aggregates Facilities · Liquid Asphalt Terminals
Location · Owned · Leased · Owned · Leased · Owned · Leased
Alabama · 11 · 9 · 6 · 3 · 1 · —
Florida · 8 · 3 · 1 · — · 1 · —
Georgia · 9 · 3 · 1 · 2 · — · —
North Carolina · 11 · 11 · — · — · — · —
Oklahoma · 3 · 5 · — · — · — · —
South Carolina · 4 · 6 · — · — · — · —
Tennessee · 1 · 3 · — · — · — · —
Texas · 9 · 13 · 3 · 1 · 1 · —
Item 2 of the 10-K filed Nov 25, 2025.6
Leadership
Who has led Construction Partners, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
- Chief executive officerCharles E. Owens May 12, 2020 to Aug 21, 202017
- PresidentCharles E. Owens May 12, 2020 to Aug 21, 202017
- Chief financial officerGregory A. Hoffman Oct 22, 2024 to now18
- Chief financial officerRoyce Alan Palmer Dec 19, 2018 to Aug 26, 202219
Board members and other officers (17)
- Senior VP, Personnel and AdminRobert G. Baugnon May 13, 2025 to now20
- Senior VP, FinanceGregory A. Hoffman May 14, 2021 to now21
- OfficerCharles E. Owens May 3, 2018 to Jul 3, 201822
- Senior Vice PresidentMichael Brett Armstrong May 3, 2018 to now23
- Senior Vice PresidentRobert P. Flowers May 3, 2018 to now24
- OfficerRoyce Alan Palmer May 3, 2018 to Jul 3, 201825
- Chief Accounting OfficerTodd Keith Andrews Dec 11, 2018 to now26
- Senior Vice President, LegalJudson Ryan Brooks Dec 12, 2018 to now27
- Board memberNoreen E. Skelly May 8, 2019 to now28
- Board memberCharles E. Owens May 3, 2018 to Dec 11, 202422
- Board memberCraig Jennings May 3, 2018 to now29
- Board memberFulcrum Dutch Investors Prime L.p. Suntx May 3, 2018 to Jun 26, 202329
- Board memberMark R. Matteson May 3, 2018 to now29
- Board memberMichael H. McKay May 3, 2018 to now30
- Board memberNed N. Fleming Iii. May 3, 2018 to now29
- Board memberStefan L. Shaffer May 3, 2018 to now31
- General counselJudson Ryan Brooks Nov 20, 2025 to now32
Named in SEC Form D filings
People the company listed in its private-offering notices.
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- ACE Aggregates, LLC Texas5
- Asphalt Inc., LLC Texas5
- C.W. Roberts Contracting, Incorporated Florida5
- Construction Partners Risk Management, Inc. Alabama5
- Construction Partners Risk Services, Inc. Alabama5
- Durwood Greene Construction Co. Texas5
- FSC II, LLC North Carolina5
- G&S Asphalt, Inc. Texas5
- King Asphalt, Inc. South Carolina5
- Lone Star Materials & Asphalt, LLC Texas5
- Overland Corporation Oklahoma5
- Overland Materials and Manufacturing, Inc. Oklahoma5
- P&S Paving, LLC Florida5
- PRI of East Tennessee, Inc. Tennessee5
- Pavement Restorations, Inc. Tennessee5
- Pelican Asphalt Company, LLC Texas5
- The Scruggs Company Georgia5
- Wiregrass Construction Company, Inc. Alabama5
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Oct 5, 20268-K Regulation FD disclosure34
- Sep 21, 20268-K Regulation FD disclosure35
- Aug 31, 20268-K Regulation FD disclosure36
- Aug 10, 20268-K Listing notice or transfer; Unregistered sale of shares; Regulation FD disclosure37
- Aug 7, 20268-K Results of operations38
- Jul 13, 20268-K Regulation FD disclosure39
- Jun 18, 20268-K Entered a material agreement; New debt or obligation40
- Jun 8, 20268-K Entered a material agreement; New debt or obligation41
- May 8, 20268-K Results of operations42
- Apr 1, 20268-K Regulation FD disclosure43
- Mar 27, 20268-K Shareholder vote; Regulation FD disclosure44
- Mar 2, 20268-K Other events45
- May 12, 2020New chief executive Charles E. Owens becomes CEO17
- Apr 25, 2007Founded Construction Partners, Inc. is founded2
Calendar
Coming up
- Nov 19, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $1.07 a share, on Nov 20, 2025.46
When it reported results
- Aug 7, 2026Reported quarterly or annual results38
- May 8, 2026Reported quarterly or annual results42
- Feb 5, 2026Reported quarterly or annual results47
- Nov 20, 2025Reported quarterly or annual results48
- Oct 22, 2025Reported quarterly or annual results49
- Aug 7, 2025Reported quarterly or annual results50
- May 9, 2025Reported quarterly or annual results51
- Feb 7, 2025Reported quarterly or annual results52
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
368 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 74 major events, 198 insider forms, 43 large holders, 1 private raises, 32 other. The latest 20:
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Oct 5, 20268-K EDGAR
- Sep 21, 20268-K EDGAR
- Aug 31, 20264 EDGAR
- Aug 31, 20268-K EDGAR
- Aug 10, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Aug 10, 20268-K EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 7, 20268-K EDGAR
The 368 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
41 open-market trades by officers, directors and large owners since October 2021: 4 buys and 37 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Apr 14, 2025 | Smith Fred Julius IIIPresident and CEO | Buy | 9,333 | $73.83 | $689.1K | Form 4 |
| Apr 14, 2025 | Flowers Robert P.Senior Vice President | Sale | 3,333 | $73.83 | $246.1K | Form 4 |
| Apr 14, 2025 | Fleming Ned N. IVSenior VP - Strategy & Bus Dev | Buy | 9,333 | $73.83 | $689.1K | Form 4 |
| Apr 14, 2025 | Harper John LSenior Vice President | Sale | 6,000 | $73.83 | $443.0K | Form 4 |
| Dec 20, 2024 | Andrews Todd KeithChief Accounting Officer | Sale | 5,489 | $91.84 | $504.1K | Form 4 |
| Dec 16, 2024 | Andrews Todd KeithChief Accounting Officer | Sale | 2,511 | $95.86 | $240.7K | Form 4 |
| Dec 13, 2024 | Harper John LSenior Vice President | Sale | 6,000 | $94.41 | $566.5K | Form 4 |
| Dec 11, 2024 | Owens Charles EDirector | Sale | 16,203 | $98.22 | $1.6M | Form 4 |
| Dec 10, 2024 | Owens Charles EDirector | Sale | 1,761 | $99.14 | $174.6K | Form 4 |
| Dec 9, 2024 | Owens Charles EDirector | Sale | 9,717 | $100.69 | $978.4K | Form 4 |
| Dec 9, 2024 | SUNTX CAPITAL PARTNERS II LPDirector | Sale | 12,731 | $99.78 | $1.3M | Form 4 |
| Dec 6, 2024 | Owens Charles EDirector | Sale | 49,695 | $100.81 | $5.0M | Form 4 |
| Dec 5, 2024 | Owens Charles EDirector | Sale | 23,418 | $100.12 | $2.3M | Form 4 |
| Dec 4, 2024 | Owens Charles EDirector | Sale | 46,596 | $101.33 | $4.7M | Form 4 |
| Nov 25, 2024 | Flowers Robert P.Senior Vice President | Sale | 25,000 | $101.28 | $2.5M | Form 4 |
| Aug 23, 2024 | Matteson Mark RDirector | Sale | 94,592 | $63.40 | $6.0M | Form 4 |
| Aug 22, 2024 | Matteson Mark RDirector | Sale | 25,408 | $61.97 | $1.6M | Form 4 |
| Jun 18, 2024 | Shaffer Stefan LDirector | Sale | 2,500 | $58.41 | $146.0K | Form 4 |
| Jun 14, 2024 | Flowers Robert P.Senior Vice President | Sale | 1,510 | $56.51 | $85.3K | Form 4 |
| May 20, 2024 | Skelly Noreen EDirector | Sale | 2,500 | $56.40 | $141.0K | Form 4 |
All 41 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- BlackRockSCHEDULE 13G/A, 5 filings Feb 3, 2022 to Aug 6, 202653
- FMR LLCSCHEDULE 13G/A, 4 filings May 12, 2025 to May 6, 202654
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 9, 2023 to Mar 26, 202655
- SunTx Capital II Management Corp.SCHEDULE 13G/A, 4 filings Feb 13, 2024 to Nov 14, 202556
- KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLCSCHEDULE 13G/A, 6 filings Feb 14, 2022 to Nov 13, 202557
- GENEVA CAPITAL MANAGEMENT LLCSCHEDULE 13G/A, 5 filings Feb 11, 2022 to Sep 8, 202558
- Ned N. Fleming Iv.SCHEDULE 13D/A, 4 filings Aug 11, 2023 to Aug 8, 202559
- Conestoga Capital Advisors, LLCSCHEDULE 13G/A, 4 filings Jan 10, 2022 to Jan 10, 202560
- InvescoSC 13G/A, 2 filings Feb 10, 2023 to Feb 1, 202461
- SunTx Capital Management Corp.SC 13G/A, 2 filings Feb 14, 2022 to Feb 14, 202362
- WASATCH ADVISORS LPSC 13G/A, 2 filings Feb 10, 2022 to Feb 8, 202363
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Fred J. (Jule) SmithIII | 56 | $837.3K | $6.4M64 |
| 2025 | Gregory A. Hoffman | 60 | $486.5K | $3.9M64 |
| 2025 | N. Nelson FlemingIV | 37 | $361.5K | $3.4M64 |
| 2025 | J. Ryan Brooks | 37 | $365.6K | $2.6M64 |
| 2025 | John L. Harper | $510.0K | $1.9M64 | |
| 2025 | M. Brett Armstrong | $516.2K | $1.8M64 | |
| 2025 | Robert G. Baugnon | 59 | $362.9K | $1.7M64 |
| 2024 | President and Chief Executive Officer | $707.3K | $3.1M64 | |
| 2024 | Regional President - Central Region | $480.8K | $1.3M64 | |
| 2024 | Senior VicePresident and Chief Financial Officer | $438.5K | $1.3M64 | |
| 2023 | President and Chief Executive Officer | $605.8K | $2.4M64 | |
| 2023 | Regional President - Central Region | $438.5K | $1.3M64 | |
| 2023 | Senior VicePresident and Chief Financial Officer | $364.2K | $1.0M64 |
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $238.9M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2024 | $238.9M | $238.9M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Fmr LLC | 7,145,671 | $848.7M | 0.0% | +27,102 |
| BlackRock, Inc. | 3,878,562 | $460.7M | 0.0% | +105,254 |
| Vanguard Capital Management LLC | 2,005,206 | $238.2M | 0.0% | +15,533 |
| Vanguard Portfolio Management LLC | 1,966,436 | $233.6M | 0.0% | +53,834 |
| Kayne Anderson Rudnick Investment Management LLC | 1,525,495 | $181.2M | 0.6% | −145,626 |
| Conestoga Capital Advisors, LLC | 1,358,962 | $161.4M | 3.5% | −295,140 |
| Geode Capital Management, LLC | 1,280,636 | $152.1M | 0.0% | +71,274 |
| Geneva Capital Management LLC | 1,243,976 | $147.7M | 3.4% | −317,075 |
| First Trust Advisors LP | 1,221,338 | $145.1M | 0.1% | +190,960 |
| State Street Corp | 1,174,019 | $139.4M | 0.0% | +80,131 |
| Nomura Asset Management International Inc. | 1,154,207 | $137.1M | 0.2% | −230,766 |
| Goldman Sachs Group Inc | 1,062,342 | $126.2M | 0.0% | +264,106 |
| Wasatch Advisors LP | 1,008,474 | $119.8M | 0.8% | +172,034 |
| Capital World Investors | 988,838 | $117.4M | 0.0% | +132,142 |
| Clearbridge Investments, LLC | 912,417 | $108.4M | 0.1% | +69,750 |
| Allspring Global Investments Holdings, LLC | 876,775 | $95.7M | 0.1% | −90,575 |
| Dimensional Fund Advisors LP | 717,522 | $85.2M | 0.0% | +130,045 |
| Invesco Ltd. | 681,616 | $81.0M | 0.0% | −340,474 |
| Bank Of America Corp /de/ | 671,232 | $79.7M | 0.0% | +72,078 |
| Bank of New York Mellon Corp | 658,818 | $78.2M | 0.0% | +79,061 |
| Driehaus Capital Management LLC | 641,417 | $76.2M | 0.4% | −153,047 |
| Ameriprise Financial Inc | 613,346 | $72.8M | 0.0% | −91,737 |
| Norges Bank | 557,389 | $66.2M | 0.0% | New |
| American Century Companies Inc | 513,559 | $61.0M | 0.0% | −33,834 |
| Loomis Sayles & Co L P | 505,741 | $60.1M | 0.1% | −36,101 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
3 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Aug 8, 2023 | Mark R. WarnerDemocratic, Senate | Sale | $250,001 - $500,000 | −73.1% | Report |
| Jan 31, 2022 | Mark R. WarnerDemocratic, Senate | Sale | $100,001 - $250,000 | −145.5% | Report |
| Oct 14, 2021 | Mark R. WarnerDemocratic, Senate | Sale | $50,001 - $100,000 | −65.0% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Construction Partners, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARConstruction Partners, Inc.1
- CIK0001718227
- Employer ID (EIN)26-07580176
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
- Incorporated inDelaware6
- Fiscal year endsSeptember 301
- Industry code (SIC)1600 Heavy Construction Other Than Bldg Const - Contractors1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address290 Healthwest Dr., Suite 2, Dothan, AL 363031
- Phone334.673.97631
- Shares outstanding47,947,509 Common Class A shares; 8,579,118 Common Class B shares as of Nov 20, 20256
- Public float$3.4B as of Mar 31, 20256
- AuditorRSM US LLP, Birmingham, Alabama PCAOB ID 49; it also attests to the company’s internal control over financial reporting6
- On EDGAR sinceNov 17, 20171
- Filings590 in all: 4 (269), 8-K (123), SC 13G/A (35), 10-Q (26), 144 (19), 3 (17), SCHEDULE 13G/A (15), SC 13G (14)1
All 35 form types
10-K (8), DEF 14A (8), 424B5 (6), CORRESP (5), UPLOAD (5), 3/A (4), DRS/A (3), DRSLTR (3), S-1/A (3), S-8 (3), 4/A (2), 8-A12B (2), ARS (2), CERT (2), EFFECT (2), S-3ASR (2), SC 13D/A (2), 424B4 (1), 8-K/A (1), D (1), DRS (1), PRE 14A (1), S-1 (1), S-3 (1), SC 13D (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Nov 25, 2025
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Jan 27, 2026
Latest 8-K (8-K) Oct 5, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A common stock, par value $0.001 | ROAD | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Nov 25, 2025 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
The risks Construction Partners, Inc. names in Item 1A of its 10-K filed Nov 25, 2025: 50 risks under these headings, as written.6
- Risks Related to our Business
- A significant slowdown or decline in economic conditions, particularly in the Sunbelt, could adversely impact our results of operations.
- Our business depends on federal, state and local government spending for public infrastructure construction, and reductions in government funding could adversely affect our results of operations.
- We derive a significant portion of our revenues from state DOTs. The loss of our ability to competitively bid for certain projects or successfully contract with state DOTs could have a material adverse effect on our business.
- Government contracts generally are subject to a variety of regulations, requirements and statutes, the violation or alleged violation of which could have a material adverse effect on our business.
- The cancellation of a significant number of contracts, our disqualification from bidding on new contracts and the unpredictable timing of new project opportunities could have a material adverse effect on our business.
- If we are unable to accurately estimate the overall risks, revenues or costs on our projects, we may incur contract losses or achieve lower profits than anticipated.
- Inflation and supply chain disruptions have resulted, and may continue to result, in increased costs, some of which we may not be able to recoup.
- Because our industry is capital-intensive and we have significant fixed and semi-fixed costs, our profitability is sensitive to changes in volume.
- The success of our business depends, in part, on our ability to execute on our acquisition strategy, to successfully integrate acquired businesses and to retain key employees of acquired businesses.
- We may lose business to competitors that underbid us and may be unable to compete favorably in our highly competitive industry.
- We may be unable to obtain or maintain sufficient bonding capacity, which could preclude us from bidding on certain projects.
The other 39 risks
- Our business is seasonal and subject to adverse weather and climate conditions, which can adversely impact our business.
- We depend on our information technology systems and processes, which are subject to cybersecurity and data leakage risks.
- Design-build contracts subject us to the risk of design errors and omissions.
- From time to time, we enter into joint venture contracts to perform certain projects, and these arrangements expose us to certain risks and uncertainties that are outside of our control.
- Our continued success requires us to hire, train and retain qualified personnel and subcontractors in a competitive industry.
- Our results of operations can be adversely affected by labor shortages, turnover and labor cost increases.
- We depend on third parties for equipment and supplies essential to operate our business.
- Supply chain issues, including shortages of raw materials needed for HMA production, equipment, vehicles and construction supplies, could increase our costs or cause delays in our ability to complete our projects, which could have an adverse impact on our business and our relationships with customers.
- We consume natural gas, electricity, diesel fuel, liquid asphalt and other petroleum-based resources that are subject to potential reliability issues, supply constraints and significant price fluctuations.
- Our contract backlog is subject to reductions in scope and cancellations and therefore could be an unreliable indicator of our future earnings.
- Failure of our subcontractors to perform as expected could have a negative impact on our results.
- The construction services industry is highly schedule-driven, and our failure to meet the schedule requirements of our contracts could adversely affect our reputation and/or expose us to financial liability.
- An inability to secure sufficient aggregates reserves could have a negative impact on our future results of operations.
- A failure to obtain or maintain adequate insurance coverage could adversely affect our results of operations.
- Failure to maintain safe work sites could result in significant losses, which could materially affect our business and reputation.
- Legal and Regulatory Risks
- We could incur material costs and losses as a result of claims that our products do not meet regulatory requirements or contractual specifications.
- We are, and may continue to be, involved in routine litigation and government inquiries in the ordinary course of business.
- Environmental laws and regulations and any changes to, or liabilities arising under, such laws and regulations could have a material adverse effect on our financial condition, results of operations and liquidity.
- Climate change and related laws and regulations could adversely affect us.
- Increased focus by stakeholders on environmental, social and governance (“ESG”) policies and practices could result in additional costs and could adversely impact our reputation, investor perception, employee retention and willingness of third parties to do business with us.
- Our operations are subject to special hazards that may cause personal injury or property damage, subjecting us to liabilities and possible losses that may not be covered by insurance.
- Our failure to comply with immigration laws could result in significant liabilities, harm our reputation with our customers and disrupt our operations.
- Federal, state and local employment-related laws and regulations could increase our cost of doing business and subject us to fines and lawsuits.
- Financial Risks
- Our substantial indebtedness could adversely affect our financial condition and prevent us from fulfilling our obligations.
- The Credit Agreements restrict our ability to engage in some business and financial transactions.
- We may need to raise additional capital in the future, and we may not be able to do so on favorable terms or at all, which could impair our ability to operate our business or achieve our growth objectives.
- We may be required to record an impairment charge if we determine that goodwill recorded in connection with prior acquisitions has become impaired, and this determination requires us to make significant judgments and assumptions about the future that are inherently subject to risks and uncertainties.
- Our earnings are affected by the application of accounting standards and our critical accounting policies, which involve subjective judgments and estimates by our management. Our actual results could differ from the estimates and assumptions used to prepare our consolidated financial statements.
- Unfavorable developments affecting the banking and financial services industry could adversely affect our business, liquidity and financial condition and overall results of operations.
- General Risks
- Force majeure events, such as natural disasters, pandemics and terrorist attacks, and unexpected equipment failures could negatively impact our business, which may affect our financial condition, results of operations or cash flows.
- Our status as a public company requires us to comply with extensive regulatory and reporting obligations, which entails substantial costs and creates risks related to internal controls and investor confidence.
- Risks Relating to Ownership of Our Class A Common Stock
- The dual class structure of our common stock has the effect of concentrating voting control with holders of our Class B common stock, which limits the ability of holders of our Class A common stock to influence corporate matters.
- Future sales, or the perception of future sales, of Class A common stock by us or our existing stockholders in the public market could cause the market price for Class A common stock to decline.
- A voting group led by SunTx and comprising certain of our directors and officers and their respective affiliates (collectively, the “SunTx Group”), controls us, and their interests may conflict with ours or yours in the future.
- We may issue preferred stock with terms that could adversely affect the voting power or value of our Class A common stock.
- Provisions in our governing documents and Delaware corporate law make it more difficult to effect a change in control of our Company, which could adversely affect the price of our Class A common stock.
- Our governing documents designate certain courts as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.
- Because we are a “controlled company” under the listing standards of The Nasdaq Stock Market LLC and the rules of the SEC, our stockholders do not have, and may never have, certain corporate governance protections that are available to stockholders of companies that are not controlled companies.
- We do not intend to pay cash dividends on our Class A common stock in the foreseeable future, and therefore only appreciation, if any, of the price of our Class A common stock will provide a return to our stockholders.
Legal proceedings
Due to the nature of our business, we are involved in routine litigation or subject to other disputes or claims related to our business activities, including, among other things, (i) workers’ compensation claims, (ii) employment-related disputes and (iii) liability issues or breach of contract or tortious conduct claims in connection with the performance of services and provision of materials. We and our affiliates are also subject to government inquiries in the ordinary course of business seeking information concerning our compliance with government construction contracting requirements and various laws and regulations, the outcome of which cannot be predicted with certainty. In the opinion of our management, after consultation with legal counsel, none of the pending inquiries, litigation, disputes or claims against us, if decided adversely to us, would have a material adverse effect on our financial condition, cash flows or results of operations.
Notwithstanding the foregoing, in October 2025, a subsidiary of the Company executed a consent decree negotiated with the Environmental Protection Agency (“EPA”) regarding the EPA’s contention that such subsidiary violated the Clean Water Act in connection with discharges of sediment from two sand and gravel quarries in eastern Alabama into nearby waterways. Under the terms of the consent decree, the Company agreed to (i) pay a civil penalty of $450,000, (ii) remediate the conditions on the property giving rise to the discharge and (iii) monitor the sites for a period of time following completion of the remediation. The consent decree remains subject to approval by a federal district court. The total cost of the remedial and preventative measures cannot be estimated with reasonable certainty but is expected to be covered in whole or significant part by the Company’s preexisting insurance policies.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 22SEC EDGARCharles E. Owens, Officer
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- 25SEC EDGARRoyce Alan Palmer, Officer
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- 28SEC EDGARNoreen E. Skelly, Board member
- 29SEC EDGARCraig Jennings, Board member
- 30SEC EDGARMichael H. McKay, Board member
- 31SEC EDGARStefan L. Shaffer, Board member
- 32SEC EDGARJudson Ryan Brooks, General counsel
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- 34SEC EDGARRegulation FD disclosure
- 35SEC EDGARRegulation FD disclosure
- 36SEC EDGARRegulation FD disclosure
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- 38SEC EDGARResults of operations
- 39SEC EDGARRegulation FD disclosure
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- 42SEC EDGARResults of operations
- 43SEC EDGARRegulation FD disclosure
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- 45SEC EDGAROther events
- 46NasdaqNasdaq calendar
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