Latest news with #MovingFloridaForward
Yahoo
29-04-2025
- Automotive
- Yahoo
Traffic Talk: I-75 widening project getting more attention from FDOT on social media
Anytime you hear I-75 and widening in the same sentence, it's cause for celebration. In case you missed, it was announced in December of 2024 that relief is coming for I-75 commuter traveling between Fort Myers and Naples. Florida Gov. Ron DeSantis announced that a widening project on one of the busiest stretches of Interstate 75 in Southwest Florida will start in 2026, one year earlier than originally planned. According to the project website, the project encompasses an 18.5 mile stretch of road starting from I-75 from north of Golden Gate Parkway to south of Corkscrew Road. When finished, it is predicted by the Florida Department of Transportation (FDOT) that the widening should reduce travel times by 47%. Also: One lane will be added in each direction with auxiliary lanes, increasing the roadway from 6 to 8 lanes. The project is part of the Florida Department of Transportation's Moving Florida Forward infrastructure initiative. Funding: $578 million Recently, FDOT has made two social media posts on its Facebook page to remind people about the project, which is still in its early stages of planning. An April 16 Facebook post said: Florida Department of Transportations' study to add more lanes to I-75 in #Collier and #Lee Counties continues to Move Florida Forward! This link was provided to the project page for more information. Two days later, a separate post appeared for the same project with another ink to the project page and this animated image of what the widening on I-75 will look like: According to the project page, the public outreach will continue into this summer and until the end of the project. Also underway is the Project Development and Environment (PD&E) study, which is a comprehensive process used by FDOT to analyze and develop project, considering both engineering and environmental factors. The study determines the best location and design for a project, while also evaluating its potential social, economic, and environmental impacts. The comment threads on the FDOT Facebook posts ranged from positive to critical. Here's is some of what people are saying: Alan Parker said: People will continue to camp in the left lane. Andy Eippert Sr. said: It will be fantastic. Dennis Assanowicz said: The future would be a high speed rail. Tina Goodman said: Make HOV lanes & keep trucks in a separate lane. Need to enlarge all the narrow bridges. Patt Line said: They need to just go to 10 lanes and only screw up traffic once. By the time they are done with 8 they will need 10 anyway. Samantha Soutar said: As long as there aren't delays, bring it on! More: Estero traffic study reveals seven most dangerous intersections in village. What to know One of the most significant road construction projects in history is close to wrapping up in Lee County. The Diverging Diamond Interchange in Lee County at I-75 and Colonial Boulevard, which started way back in 2021, is in its final stages, according to Florida Department of Transportation spokesperson Jason Heironimus. FDOT was doing final walk through for the project last week and developing the final punch list. Crews will also complete any final signage installation and complete the punch list items. Mid-May is now the target for official completion of the project. Collier County's first ever DDI at Pine Ridge Road and I-75 is in its early stages of construction. According to FDOT's latest update: Motorists should expect nighttime/overnight lane closures from 7 p.m. to 7 a.m. on Pine Ridge Road for crews to work in the median. Crews will be working on drainage installation and roadway work. Crews will be working on clearing and grubbing and installing erosion control throughout the project area. Please use caution and watch for workers and construction vehicles entering and leaving the roadway. The expected completion date is mid-2027. For more information please visit: The above activities are subject to change based on weather conditions and unforeseen underground conditions. Your emails are pouring into my inbox and I love it. Keep them coming. Remember, it's OK to vent and tell me what is driving you crazy when it comes to our traffic crisis. Of course, your observations and ideas for helping to solve the crisis are always welcome! Email anytime to mbickel@ This article originally appeared on Fort Myers News-Press: I-75 widening between Collier County and Lee County: What to know
Yahoo
21-04-2025
- Business
- Yahoo
Construction Partners Inc (ROAD) Q1 2025 Earnings Call Highlights: Record Revenue and Strategic ...
Revenue: $561.6 million, an increase of 41.6% year-over-year. Organic Revenue Growth: 11.2%. Revenue from Acquisitions: 30.4%. EBITDA Margin: Increased by almost 200 basis points year-over-year. Adjusted EBITDA: $68.8 million, an increase of 68% year-over-year. Adjusted EBITDA Margin: 12.3%, compared to 10.3% last year. Net Loss: $3.1 million due to nonrecurring expenses. Adjusted Net Income: $13.3 million. Diluted EPS (Adjusted Net Income): $0.25, an increase of 35% year-over-year. Project Backlog: Record $2.66 billion. Cash and Cash Equivalents: $132.5 million. Available Credit Facility: $393.4 million. Cash Flow from Operations: $40.7 million, compared to $60 million last year. Capital Expenditures: $26.8 million for the quarter. Revised Revenue Outlook for FY 2025: $2.66 billion to $2.74 billion. Revised Net Income Outlook for FY 2025: $93 million to $105.6 million. Revised Adjusted Net Income Outlook for FY 2025: $109.5 million to $122.1 million. Revised Adjusted EBITDA Outlook for FY 2025: $375 million to $400 million. Revised Adjusted EBITDA Margin Outlook for FY 2025: 14.1% to 14.6%. Warning! GuruFocus has detected 7 Warning Signs with ROAD. Release Date: February 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Construction Partners Inc (NASDAQ:ROAD) reported record revenue for the first quarter of fiscal 2025, with a 42% year-over-year increase. The company achieved a record project backlog of $2.66 billion, indicating strong demand for its infrastructure services. The acquisition of Overland Corporation and Mobile Asphalt Company expands the company's operational footprint and market share in Oklahoma and Alabama. The company's vertical integration strategy is enhancing margins, with adjusted EBITDA margin increasing to 12.3% from 10.3% in the previous year. Construction Partners Inc (NASDAQ:ROAD) is benefiting from strong infrastructure funding in its operating states, supported by programs like the IIJA and state-specific initiatives such as Florida's Moving Florida Forward program. The company reported a net loss of $3.1 million for the quarter due to nonrecurring expenses related to a transformative acquisition. There is a concern about the company's leverage, with a debt to trailing 12 months EBITDA ratio of 2.88x, which the company aims to reduce over the next 4 to 5 quarters. Cash provided by operating activities decreased to $40.7 million from $60 million in the same quarter a year ago, partly due to weather-related changes affecting cash collections. The company faces ongoing construction inflation, with expectations of 4% to 5% inflation across its cost structure, which it needs to manage through pricing strategies. There is a potential risk of overextension with recent large acquisitions, which may require careful integration and balance sheet management to maintain financial health. Q: Can you provide details on the revenue and backlog contributions from the recent acquisitions? A: Greg Hoffman, CFO, stated that the combined revenue from the two recent acquisitions is expected to be in the $120 million to $130 million range for the remainder of the year. The backlog contribution from these acquisitions is estimated to be between $90 million and $100 million. Q: How do the recent acquisitions impact your leverage and future acquisition strategy? A: Jule Smith, CEO, mentioned that while the acquisitions were strategic and necessary, the company remains committed to maintaining a strong balance sheet. The leverage ratio is expected to tick up slightly to around 3x but will be reduced to approximately 2.5x over the next 4 to 5 quarters. The company will continue to explore acquisition opportunities but will integrate them at a pace that maintains organizational and financial health. Q: What is the outlook for gross margins and SG&A following the integration of recent acquisitions? A: Jule Smith, CEO, explained that the margins from the new acquisitions are typical and are included in the updated guidance. The company expects margins to trend upwards over time as the acquisitions are integrated and benefit from CPI's resources and strategies. Q: How is the current inflation environment affecting your operations and pricing strategy? A: Jule Smith, CEO, noted that they anticipate a typical year for construction inflation, estimating it at 4% to 5%. The company is incorporating these costs into bids and remains nimble to adjust quickly if inflation spikes. Current material and energy costs are stable, and any increases are being passed through in pricing. Q: Are there any concerns about funding for infrastructure projects, especially with recent headlines about pauses in funding? A: Jule Smith, CEO, assured that there have been no issues with funding for infrastructure projects. The new administration is focused on directing funds towards hard infrastructure, which aligns with CPI's operations. The company has not experienced any delays or issues in accessing funding. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
15-04-2025
- Automotive
- Yahoo
Do you dread driving on I-4? See improvements coming this month and more projects ahead
Nobody likes sitting in traffic. And ranking right up there is the frustration of road work that seems to drag on forever. So mark this on your calendar: construction of "congestion relief lanes" on one of the busiest sections of Interstate 4 has finished ahead of schedule. Gov. Ron DeSantis announced this week that 6 miles of added lanes on I-4 will be completed eight months ahead of schedule. Here's what is going on. The new lanes, one additional lane in each direction of I-4 from U.S. 27 in Polk County to World Drive in Osceola County, will be open for use beginning the week of April 28, DeSantis said. "The new lanes will be located on the inside of the existing I-4 mainline to provide motorists with congestion relief," FDOT said. The project is being completed eight months ahead of schedule. After DeSantis directed the Florida Department of Transportation to deliver immediate congestion relief along I-4, the department "used an innovative construction approach to open new lanes early." FDOT launched the Moving I-4 Forward program and introduced a new streamlined method called Modified Phased Design-Build, a news release said. "Benefits of using this pioneering process include reduced project timelines, travelers spending less time in traffic, fewer taxpayer dollars being spent, and a continued focus on innovation," FDOT said. In practical application, on the section intended to open the week of April 28, construction crews paved the inner breakdown lanes, converting them to traffic lanes. The approach allowed new lanes to open "without waiting for full project completion. These lanes will remain open through all future construction," FDOT said. Yes. The Moving Florida Forward program includes nearly 700 projects across Florida, with $75 billion in infrastructure investment committed since 2019, a news release said. FDOT listed these projects after the new lanes open the week of April 28: Segment A: I-4 from east of U.S. 27 to west of S.R. 429. 4.1 miles. Segment B: I-4 from west of S.R. 429 to east of World Drive. 3.4 miles. Highlights include: Expand I-4 to accommodate up to 12 total lanes at the ChampionsGate Boulevard (C.R. 532) and World Drive interchanges. These additional lanes will consist of up to eight general use lanes and four express lanes (for future use). East of World Drive to east of U.S. 192. 2.6 miles. Highlights include: Three general-use lanes and two new express lanes in each direction. Maintain existing access to State Road (S.R.) 417 from the general-use lanes onI-4. A New ramps will connect the S.R. 417 toll to the I-4 express lanes. Replace toll plazas on S.R. 417. East of C.R. 532 to west of World Drive. 3.1 miles. Highlights include: Improvements to the State Road (S.R.) 429 interchange, which currently ends at I-4. Four general-use lanes and two express lanes in each direction. New ramps will be built to connect the express lanes on I-4 to S.R. 429 and from the I-4 general-use lanes to S.R. 429. Old Lake Wilson Road will be widened from Sinclair Road to Assembly Court and over I-4 from two to four lanes with sidewalks and bicycle lanes on both sides, including building a second bridge. West of U.S. 27 to west of ChampionsGate Boulevard (C.R. 532). 3.4 miles. Highlights include: Adding two express lanes in each direction along I-4. Adding ramps to connect I-4 express lanes and U.S. 27. West of Osceola Parkway to east of World Center Drive (S.R. 536). 2.1 miles. Highlights include: Adding two express lanes in each direction along I-4. Adding ramps to connect the express lanes and S.R. 536. Existing I-4 bridges at the Osceola Parkway interchange over Bonnet Creek will be reconstructed. Poinciana Connector from C.R. 532 to S.R. 429. 3.5 miles. Highlights include: Extending the Poinciana Connector from where it ends near U.S. 17 to Osceola Polk Line Road, County Road (C.R.) 532. The I-4 project will continue and connect south of the interchange with S.R. 429. Final configuration of the new road includes three lanes in each direction with the ability to expand to four lanes in each direction. Ramps connecting to Osceola Polk Line Road (C.R. 532) will be included. DeSantis announced the Moving Florida Forward initiative last year at a news conference in Polk County. The program includes nearly 700 projects across Florida. These projects will "deliver much-needed congestion relief 10 to 20 years ahead of the original schedule," according to FDOT's website. The projects are intended to: Strengthen resilient infrastructure for future growth. Improve travel times by reducing congestion. Increase safety and connectivity. Enhance the quality of life for the community. 'We launched the Moving Florida Forward initiative to accelerate major transportation projects that reduce congestion and improve connectivity,' DeSantis said. 'With nearly 700 projects underway and $75 billion in infrastructure investment since 2019, we're delivering real results for Floridians and keeping Florida moving.' This article originally appeared on The Daytona Beach News-Journal: Florida Interstate 4 congestion relief. New lanes opening April 28
Yahoo
14-04-2025
- Automotive
- Yahoo
DeSantis: New lanes on Interstate 4 in Polk County will open week of April 28
Construction of 'congestion relief lanes' on Interstate 4 in Polk County has finished ahead of schedule, Florida Gov. Ron DeSantis announced Monday. The project, adding one lane in each direction of I-4 from U.S. 27 in Polk County to World Drive in Osceola County, will be open for use beginning the week of April 28, DeSantis' office said in a news release. DeSantis announced the Moving Florida Forward initiative last year at a news conference in Polk County. The program includes nearly 700 projects across Florida, with $75 billion in infrastructure investment committed since 2019, the release said. DeSantis set a goal of completing the new lanes on I-4 in Polk County by the end of this year. FDOT launched the Moving I-4 Forward program and introduced a new modified phased design-build method, the release said. To supplement the existing three lanes in each direction, construction crews paved the inner breakdown lanes, converting them to traffic lanes. Polk Parkway East: Polk County transportation board on toll road: Move quickly, protect Bok Tower Gardens FDOT is also expediting full-build work at the County Road 532 and World Drive interchanges and preparing to launch more projects along the 14-mile corridor from U.S. 27 in Polk County to State Road 536 in Orange County, the release said. Improvements include two new express lanes and one general use lane in each direction, interchange upgrades, bridge work, resurfacing and added safety features. The agency is planning three major projects, including the new Poinciana Connector, which will begin construction and finalizing engineering this summer, two years sooner than anticipated, the release said. The new roadway connection will link I-4 to S.R. 429 and the future Central Florida Expressway facility, serving one of Osceola and Polk Counties' fastest-growing areas. This article originally appeared on The Ledger: New lanes on I-4 in Polk County will open week of April 28
Yahoo
14-04-2025
- Automotive
- Yahoo
New congestion lanes to open on I-4 by the end of April
KISSIMMEE, Fla. (WFLA)— Governor Ron DeSantis held a press conference with Florida Department of Transportation Secretary Jared Perdue in Kissimmee Monday morning. The governor discussed projects related to the Moving Florida Forward initiative, which aims to accelerate construction on critical roadways across the state. 'We have at least 20 major interstate and roadway projects that have been expedited through Moving Florida Forward,' he said. DeSantis highlighted some of the major projects underway: the addition of regular and express lanes on I-275 in Pinellas County, the redesign of Golden Glades interchange on I-95 in Miami, reconstruction of the Fruitville interchange on I-75 in Sarasota County, the widening of US-98 in Bay County and the addition of auxiliary lanes to I-75 in Ocala. The conference on Monday served as an announcement of the upcoming completion of another major project, the addition of congestion relief lanes to one of the busiest sections of I-4 between Polk and Osceola Counties. The new relief lanes will open the week of April 28, which DeSantis emphasized was eight months ahead of schedule. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
