10-Q Filing

CONSTRUCTION PARTNERS, INC. CIK: 1718227 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001718227-19-000008`
Period End Date	20181231
Filing Date	20190214
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	road-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 28 Cash Flow Statement 66 Stockholders Equity 10

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.57M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$99.14M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Contracts receivable including retainage, net	`ReceivablesLongTermContractsOrPrograms`	$120.29M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Contracts receivable including retainage, net	`ReceivablesLongTermContractsOrPrograms`	$93.97M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ContractWithCustomerAssetNetCurrent`	$10.19M	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ContractWithCustomerAssetNetCurrent`	$9.33M	USD	Point-in-time
Inventories	`InventoryNet`	$24.56M	USD	Point-in-time
Inventories	`InventoryNet`	$28.54M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.41M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$240.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$267.45M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$178.69M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$178.97M	USD	Point-in-time
Goodwill	`Goodwill`	$32.92M	USD	Point-in-time
Goodwill	`Goodwill`	$32.92M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.73M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.52M	USD	Point-in-time
Investment in joint venture	`EquityMethodInvestments`	$1.66M	USD	Point-in-time
Investment in joint venture	`EquityMethodInvestments`	$165.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.27M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$9.97M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxAssetsNet`	$1.58M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxAssetsNet`	$1.58M	USD	Point-in-time
Total assets	`Assets`	$467.81M	USD	Point-in-time
Total assets	`Assets`	$496.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$63.51M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`ContractWithCustomerLiabilityCurrent`	$38.74M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`ContractWithCustomerLiabilityCurrent`	$39.47M	USD	Point-in-time
Current maturities of debt	`LongTermDebtCurrent`	$14.77M	USD	Point-in-time
Current maturities of debt	`LongTermDebtCurrent`	$14.84M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$17.52M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$12.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$134.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$104.64M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$44.37M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$48.12M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$8.89M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$8.89M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.29M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.29M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$58.54M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$62.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$163.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$196.84M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.001; 10,000,000 shares authorized and no shares issued and outstanding at December 31, 2018 and September 30, 2018	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001; 10,000,000 shares authorized and no shares issued and outstanding at December 31, 2018 and September 30, 2018	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$242.49M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$242.49M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$15.60M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$15.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$77.68M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$72.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$163.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$152.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$304.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$299.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$467.81M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$496.31M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$150.42M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$154.33M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$133.20M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$127.62M	USD	1 Quarter
Gross profit	`GrossProfit`	$22.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$21.13M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$14.43M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$12.43M	USD	1 Quarter
Gain on sale of equipment, net	`GainLossOnSaleOfPropertyPlantEquipment`	$145.00K	USD	1 Quarter
Gain on sale of equipment, net	`GainLossOnSaleOfPropertyPlantEquipment`	$334.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.52M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.03M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-297.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-515.00K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$17.00K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$21.00K	USD	1 Quarter
Income before provision (benefit) for income taxes and earnings from investment in joint venture	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.50M	USD	1 Quarter
Income before provision (benefit) for income taxes and earnings from investment in joint venture	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.20M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-797.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$1.65M	USD	1 Quarter
Earnings from investment in joint venture	`IncomeLossFromEquityMethodInvestments`	$306.00K	USD	1 Quarter
Earnings from investment in joint venture	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.15M	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.10	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.26	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	41.69M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.41M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$11.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.15M	USD	1 Quarter
Depreciation, depletion and amortization of long-lived assets	`DepreciationDepletionAndAmortization`	$7.14M	USD	1 Quarter
Depreciation, depletion and amortization of long-lived assets	`DepreciationDepletionAndAmortization`	$5.67M	USD	1 Quarter
Amortization of deferred debt issuance costs and debt discount	`AmortizationOfFinancingCosts`	$27.00K	USD	1 Quarter
Amortization of deferred debt issuance costs and debt discount	`AmortizationOfFinancingCosts`	$19.00K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$145.00K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$145.00K	USD	1 Quarter
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$145.00K	USD	1 Quarter
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$334.00K	USD	1 Quarter
Earnings from investment in joint venture	`IncomeLossFromEquityMethodInvestments`	$306.00K	USD	1 Quarter
Earnings from investment in joint venture	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.47M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Contracts receivable including retainage, net	`IncreaseDecreaseInContractReceivablesNet`	$-25.48M	USD	1 Quarter
Contracts receivable including retainage, net	`IncreaseDecreaseInContractReceivablesNet`	$-26.17M	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInContractWithCustomerAsset`	$2.47M	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInContractWithCustomerAsset`	$858.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$706.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.98M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.60M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.28M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$549.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-298.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-11.27M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-25.29M	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInContractWithCustomerLiability`	$4.60M	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInContractWithCustomerLiability`	$733.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.21M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-5.40M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-5.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-9.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.49M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.21M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.41M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.51M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$536.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$191.00K	USD	1 Quarter
Distributions received from investment in joint venture	`ProceedsFromDivestitureOfInterestInJointVenture`	$1.80M	USD	1 Quarter
Distributions received from investment in joint venture	`ProceedsFromDivestitureOfInterestInJointVenture`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.07M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.32M	USD	1 Quarter
Repayments on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$5.00M	USD	1 Quarter
Repayments on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	-	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$2.50M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$3.71M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.71M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.50M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$2.67M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-7.57M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$91.57M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.14M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.22M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.55M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$91.57M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.14M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.22M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.55M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$747.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$489.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$60.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$916.00K	USD	1 Quarter
Property, plant and equipment financed with accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$178.00K	USD	1 Quarter
Property, plant and equipment financed with accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	-	USD	1 Quarter
Note receivable obtained in consideration for disposition of assets	`OutstandingNoteReceivableInConsiderationOfDispositionOfAssets`	-	USD	1 Quarter
Note receivable obtained in consideration for disposition of assets	`OutstandingNoteReceivableInConsiderationOfDispositionOfAssets`	$1.01M	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$163.18M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$152.18M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$304.62M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$299.47M	USD	Point-in-time
Net income	`NetIncomeLoss`	$11.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.15M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$163.18M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$152.18M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$304.62M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$299.47M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.