Construction Partners, Inc. ROAD reported fourth-quarter fiscal 2022 (ended Sep 30) results, with earnings and revenues surpassing their respective Zacks Consensus Estimate and rising year over year, given robust project demand.Shares of this vertically integrated civil infrastructure company plunged 16.1% during the trading session on Nov 22, 2022.In connection with the earnings release, the company’s president and chief executive officer, Fred J. (Jule) Smith, III, stated, “We are pleased with our fiscal year-end and fourth quarter results, both of which represented significant revenue and Adjusted EBITDA growth year-over-year.” He added, “In addition, we are pleased with the mix of growth for the year, which consisted of approximately 24 percent organic revenue and approximately 19 percent from recent acquisitions.”Earnings & Revenue DiscussionFor the reported quarter, adjusted earnings of 25 cents per share topped the consensus estimate of 23 cents. Also, the reported figure was up 66.7% from the year-ago period. Construction Partners’ revenues totaled $393.1 million, topped the consensus mark of $363 million and grew 40.9% year over year. The growth was led by solid funding programs at the state and federal levels, as well as a continued vibrant commercial market throughout the geographic footprint it served.Project backlog at fiscal 2022-end amounted to $1.41 billion, up from $966 million a year ago.Construction Partners, Inc. Price, Consensus and EPS Surprise Construction Partners, Inc. price-consensus-eps-surprise-chart | Construction Partners, Inc. QuoteMargins ProfileFor the quarter under review, gross margin increased 20 basis points (bps) to 12.6% from the year-ago level. Operating income increased to $20.4 million from $11.4 million a year ago. General and administrative expenses were $31 million in the quarter, reflecting an increase from $24.1 million a year ago.Adjusted EBITDA was $39.4 million, reflecting an increase of 45.3% year over year.Fiscal 2022 HighlightsTotal revenues of $1.3 billion grew 43% year over year. Earnings came in at 41 cents per share in fiscal 2022, marking an increase from 39 cents in fiscal 2021. Adjusted EBITDA grew 22.7% to $111.2 million.Balance Sheet & Cash FlowAt fiscal 2022 end, the company had cash and cash equivalents of $35.5 million, down from $57.3 million at the end of fiscal 2021. Long-term debt increased to $363.1 million at fiscal 2022 end from $206.2 million as of Sep 30, 2021.Net cash provided by operating activities totaled $16.5 million in fiscal 2022 compared with $48.5 million in the year-ago period.Zacks RankConstruction Partners currently carries a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some Recent Construction ReleasesAECOM ACM reported impressive fourth-quarter fiscal 2022 results. Its earnings and revenues surpassed the Zacks Consensus Estimate and increased on a year-over-year basis. The company’s strong performance was backed by accelerating organic growth, strong profitability and disciplined capital allocation.For fiscal 2023, ACM anticipates generating 8% organic NSR growth (4% for actual NSR), underpinned by robust momentum in the Professional Services business. The company expects adjusted EPS in the range of $3.55-$3.75. This indicates a 10% improvement from the fiscal 2022 levels at a constant-currency basis, considering the mid-point of the guidance.KBR, Inc. KBR reported mixed third-quarter 2022 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.Nonetheless, the increasing global importance of national security, energy security, energy transition and climate change have been acting as major tailwinds for KBR.Fluor Corporation FLR reported lower-than-expected third-quarter 2022 results. Notably, earnings and revenues missed the Zacks Consensus Estimate for the third consecutive quarter.Challenges associated with FLR’s three legacy infrastructure projects weighed heavily on the results. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fluor Corporation (FLR): Free Stock Analysis Report AECOM (ACM): Free Stock Analysis Report KBR, Inc. (KBR): Free Stock Analysis Report Construction Partners, Inc. (ROAD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research