As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the construction and maintenance services industry, including Construction Partners (NASDAQ: ROAD) and its peers.

Construction and maintenance services companies not only boast technical know-how in specialized areas but also may hold special licenses and permits. Those who work in more regulated areas can enjoy more predictable revenue streams - for example, fire escapes need to be inspected every five years–. More recently, services to address energy efficiency and labor availability are also creating incremental demand. But like the broader industrials sector, construction and maintenance services companies are at the whim of economic cycles as external factors like interest rates can greatly impact the new construction that drives incremental demand for these companies’ offerings.

The 13 construction and maintenance services stocks we track reported a slower Q3. As a group, revenues missed analysts’ consensus estimates by 1%.

Thankfully, share prices of the companies have been resilient as they are up 9.1% on average since the latest earnings results.

Construction Partners (NASDAQ: ROAD)

Founded in 2001, Construction Partners (NASDAQ: ROAD) is a civil infrastructure company that builds and maintains roads, highways, and other infrastructure projects.

Construction Partners reported revenues of $538.2 million, up 13.3% year on year. This print fell short of analysts’ expectations by 0.6%. Overall, it was a mixed quarter for the company with full-year EBITDA guidance beating analysts’ expectations but a miss of analysts’ EPS estimates.

Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "We are pleased to report significant growth in fiscal year 2024, led by the strong operational performance of our family of companies throughout the Sunbelt."

The stock is down 14.1% since reporting and currently trades at $78.49.

Is now the time to buy Construction Partners? Access our full analysis of the earnings results here, it’s free.

Best Q3: Limbach (NASDAQ: LMB)

Established in 1901, Limbach (NASDAQ: LMB) provides integrated building systems solutions, including mechanical, electrical, and plumbing services.

Limbach reported revenues of $133.9 million, up 4.8% year on year, outperforming analysts’ expectations by 3.4%. The business had a stunning quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Limbach delivered the highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 15.3% since reporting. It currently trades at $89.92.

Is now the time to buy Limbach? Access our full analysis of the earnings results here, it’s free.

Slowest Q3: Tutor Perini (NYSE: TPC)

Known for constructing the Philadelphia Eagles’ Stadium, Tutor Perini (NYSE: TPC) is a civil and building construction company offering diversified general contracting and design-build services.

Tutor Perini reported revenues of $1.08 billion, up 2.1% year on year, falling short of analysts’ expectations by 7.2%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates.

Tutor Perini delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 18% since the results and currently trades at $24.84.

Read our full analysis of Tutor Perini’s results here.

Orion (NYSE: ORN)

Established in 1994, Orion (NYSE: ORN) provides construction services for marine infrastructure and industrial projects.

Orion reported revenues of $226.7 million, up 34.5% year on year. This number missed analysts’ expectations by 3.6%. More broadly, it was actually a strong quarter as it logged an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The stock is up 45.4% since reporting and currently trades at $7.88.

Read our full, actionable report on Orion here, it’s free.

Concrete Pumping (NASDAQ: BBCP)

Going public via SPAC in 2018, Concrete Pumping (NASDAQ: BBCP) is a provider of concrete pumping and waste management services in the United States and the United Kingdom.

Concrete Pumping reported revenues of $111.5 million, down 7.3% year on year. This result beat analysts’ expectations by 1.1%. Aside from that, it was a satisfactory quarter as it also produced a solid beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ organic revenue estimates.

The stock is up 30.8% since reporting and currently trades at $8.46.

Read our full, actionable report on Concrete Pumping here, it’s free.

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