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  "documentTitle": "Construction Partners, Inc. (ROAD)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2025-01-23 00:00:00",
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      "text": "While backlog does not have a standardized definition, based on our review, we believe that ROAD incorporates extremely liberal and aggressive interpretation of backlog.",
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      "text": "“We generally include a construction project in our contract backlog at the time it is awarded and to the extent we believe funding is probable.” — ROAD",
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      "text": "Source: ROAD, Summit Materials, Knife River, Sterling Infrastructure, Tutor Perini",
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      "text": "ROAD's Backlog Reporting Is Extremely Aggressive",
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