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Fiscal Spend '24: Infra Construction
10 tickers · $200.75B total market cap
Group: Fiscal Spend
The thesis on infrastructure construction in Spring 2025 is bullish, driven by continued fiscal spending from the Infrastructure Investment and Jobs Act (IIJA), which is funneling significant capital into infrastructure projects. Companies involved in construction and materials, such as KBX GR, are poised to benefit from increased government contracts and heightened demand for infrastructure development. Despite some economic uncertainties, the fiscal support is expected to sustain growth in this sector.
Fiscal Spend '24: Infra Construction tracks 10 publicly listed stocks in this theme: AGX, AZZ, ECG, FLR, GVA, KBX.XETRA, MTZ, PRIM, PWR, ROAD. See the constituent table for details.
Thesis update: 2025-04-01
Constituents
Build 20260520T081747
| Company | Previous Quarter Report Date | Next Expected Report Date | Last Quarter Earnings Move % | Earnings Move % | Intra-Quarter Move % | Since Last Report % | Market cap | Weight |
|---|---|---|---|---|---|---|---|---|
Quanta Services, Inc.PWR | 04/30/2026 (BMO) | 04/30/2026 (BMO) | 6.42% | 18.07% | 13.74% | -3.78% | $107.16B | 10.0000 |
MasTec, Inc.MTZ | 04/30/2026 (AMC) | 04/30/2026 (AMC) | 2.78% | 12.65% | 32.22% | -7.76% | $30.42B | 10.0000 |
Knorr-Bremse AGKBX.XETRA | 05/07/2026 (BMO) | 05/07/2026 (BMO) | 8.25% | 0.50% | -11.20% | -2.06% | $19.08B | 10.0000 |
Argan, Inc.AGX | 03/26/2026 (AMC) | 06/03/2026 (AMC) | 37.91% | — | 12.88% | — | $8.93B | 10.0000 |
Everus Construction Group, Inc.ECG | 05/05/2026 (AMC) | 05/05/2026 (AMC) | 17.22% | 12.08% | 37.79% | -13.54% | $7.47B | 10.0000 |
Construction Partners, Inc.ROAD | 05/08/2026 (BMO) | 05/08/2026 (BMO) | 10.70% | 6.94% | 3.39% | -21.48% | $6.23B | 10.0000 |
Fluor CorporationFLR | 05/08/2026 (BMO) | 05/08/2026 (BMO) | 11.35% | -15.21% | 0.87% | -1.80% | $5.94B | 10.0000 |
Granite Construction IncorporatedGVA | 04/30/2026 (BMO) | 04/30/2026 (BMO) | -1.68% | 13.77% | -6.40% | -4.99% | $5.78B | 10.0000 |
Primoris Services CorporationPRIM | 05/05/2026 (AMC) | 05/05/2026 (AMC) | -7.51% | -45.44% | 32.45% | 3.43% | $5.68B | 10.0000 |
AZZ Inc.AZZ | 04/22/2026 (BMO) | 04/22/2026 (BMO) | 6.00% | 7.57% | 16.44% | -7.53% | $4.05B | 10.0000 |
| Average | 9.14% | 1.21% | 13.22% | -6.61% | $20.07B | 10.0000 | ||
| Median | 7.33% | 7.57% | 13.31% | -4.99% | $6.85B | 10.0000 | ||
| Std Dev | 11.63% | 18.89% | 16.05% | 6.88% | $30.06B | 0.0% | ||
| Min | -7.51% | -45.44% | -11.20% | -21.48% | $4.05B | 10.0000 | ||
| Max | 37.91% | 18.07% | 37.79% | 3.43% | $107.16B | 10.0000 | ||
| % Positive Tickers | 80.00% | 77.78% | 80.00% | 11.11% |
* Provisional value: before LstRpt% reaches its 2-day post-report lock window (BMO/AMC adjusted), EarningsPerf is calculated from current vs pre-report and then locks to final LstRpt%.