Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2022
Sep. 30, 2021
Current assets:    
Cash and cash equivalents $ 35,531,000 $ 57,251,000
Restricted cash 28,261 0
Contracts receivable including retainage, net 265,207,000 158,170,000
Costs and estimated earnings in excess of billings on uncompleted contracts 29,271,000 23,023,000
Inventories 74,195,000 53,792,000
Prepaid expenses and other current assets 12,957,000 7,790,000
Total current assets 417,189,000 300,026,000
Property, plant and equipment, net 481,412,000 404,832,000
Operating lease right-of-use assets 13,985,000 6,535,000
Goodwill 129,465,000 85,422,000
Intangible assets, net 15,976,000 4,163,000
Investment in joint venture 87,000 108,000
Restricted investments 6,866,000 0
Other assets 30,541,000 5,534,000
Total assets 1,095,521,000 806,620,000
Current liabilities:    
Accounts payable 130,468,000 86,390,000
Billings in excess of costs and estimated earnings on uncompleted contracts 52,477,000 33,719,000
Current portion of operating lease liabilities 2,209,000 1,395,000
Current maturities of long-term debt 12,500,000 10,000,000
Accrued expenses and other current liabilities 28,484,000 26,459,000
Total current liabilities 226,138,000 157,963,000
Long-term liabilities:    
Long-term debt, net of current maturities and debt issuance costs 363,066,000 206,175,000
Operating lease liabilities, net of current portion 12,059,000 5,302,000
Deferred income taxes, net 26,713,000 17,362,000
Other long-term liabilities 11,666,000 10,919,000
Total long-term liabilities 413,504,000 239,758,000
Total liabilities 639,642,000 397,721,000
Commitments and contingencies
Stockholders’ Equity:    
Preferred stock, par value $0.001; 10,000,000 shares authorized at September 30, 2022 and September 30, 2021 and no shares issued and outstanding 0 0
Additional paid-in capital 256,571,000 248,571,000
Accumulated other comprehensive income (loss), net 17,620,000 (23,000)
Retained earnings 197,274,000 175,898,000
Total stockholders’ equity 455,879,000 408,899,000
Total liabilities and stockholders’ equity 1,095,521,000 806,620,000
Parent Company | Construction Partners Inc    
Current assets:    
Cash and cash equivalents 43,130,000 65,225,000
Prepaid expenses and other current assets 2,995,000 1,063,000
Total current assets 46,125,000 66,288,000
Property, plant and equipment, net 4,646,000 5,160,000
Investment in joint venture   409,245,000
Total assets 581,977,000 483,599,000
Current liabilities:    
Current maturities of long-term debt 1,204,000 238,000
Accrued expenses and other current liabilities 3,477,000 2,970,000
Total current liabilities 4,681,000 49,512,000
Long-term liabilities:    
Long-term debt, net of current maturities and debt issuance costs 77,589,000 24,440,000
Deferred income taxes, net 4,553,000 0
Total long-term liabilities 121,417,000 25,188,000
Total liabilities 126,098,000 74,700,000
Stockholders’ Equity:    
Preferred stock, par value $0.001; 10,000,000 shares authorized at September 30, 2022 and September 30, 2021 and no shares issued and outstanding 0 0
Additional paid-in capital 256,571,000 248,571,000
Accumulated other comprehensive income (loss), net 17,620,000 (23,000)
Retained earnings 197,274,000 175,898,000
Total stockholders’ equity 455,879,000 408,899,000
Total liabilities and stockholders’ equity 581,977,000 483,599,000
Class A Common Stock    
Stockholders’ Equity:    
Common stock, value 41,000 37,000
Treasury stock $ (39,000) $ 0
Common stock, shares, outstanding 41,193,024 36,600,639
Class A Common Stock | Parent Company | Construction Partners Inc    
Stockholders’ Equity:    
Common stock, value $ 41,000 $ 37,000
Treasury stock $ (39,000) $ 0
Common stock, shares, outstanding 41,193,024 36,600,639
Class B Common Stock    
Stockholders’ Equity:    
Common stock, value $ 15,000 $ 19,000
Treasury stock $ (15,603,000) $ (15,603,000)
Common stock, shares, outstanding 11,352,915 15,691,839
Class B Common Stock | Parent Company | Construction Partners Inc    
Stockholders’ Equity:    
Common stock, value $ 15,000 $ 19,000
Treasury stock $ (15,603,000) $ (15,603,000)
Common stock, shares, outstanding 11,352,915 15,691,839