Shares of Construction Partners (ROAD) surged 13.35% during intraday trading on Friday, following the release of strong fiscal third-quarter results that exceeded analyst expectations and an upward revision to its full-year outlook.

The civil infrastructure company reported revenue of $999.4 million, a 28.2% increase year-over-year, beating the consensus estimate of $953.9 million. Adjusted earnings per share came in at $1.08, above the $1.05 forecast, while net income jumped 35% to $59.6 million. The company also announced a record project backlog of $3.36 billion, reflecting healthy demand across public infrastructure and commercial construction markets.

Further fueling the rally, Construction Partners raised its fiscal 2026 revenue guidance to a range of $3.64 billion to $3.68 billion, up from the prior range of $3.59 billion to $3.65 billion and surpassing the FactSet consensus of $3.61 billion. The company also lifted its net income and adjusted EBITDA forecasts, citing continued confidence in its project pipeline and recent acquisition strategy.