{"id":398180,"date":"2020-12-11T08:03:40","date_gmt":"2020-12-11T13:03:40","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=398180"},"modified":"2020-12-11T08:03:40","modified_gmt":"2020-12-11T13:03:40","slug":"construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/","title":{"rendered":"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results"},"content":{"rendered":"
\n

Company Provides Fiscal 2021 Outlook<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n DOTHAN, Ala.<\/span>, Dec. 11, 2020<\/span> \/PRNewswire\/ — Construction Partners, Inc. (NASDAQ: ROAD) (the “Company”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today reported financial and operating results for its fourth quarter and fiscal year ended September 30, 2020<\/span>. <\/p>\n

\n Key Metrics:\u00a0 Fiscal Year 2020 Compared to Fiscal Year 2019 <\/b>\n <\/p>\n

\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Revenue was $785.7 million<\/span>, up 0.3% <\/p>\n

\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Gross profit was $122.2 million<\/span>, up 3.6%<\/p>\n

\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Net income was $40.3 million<\/span>, down 6.5%<\/p>\n

\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Adjusted EBITDA(1) <\/sup>was $98.4 million<\/span>, up 6.6% <\/p>\n

\u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Adjusted EBITDA margin(1)<\/sup>was 12.5%, up 70 bps<\/p>\n

Project backlog at September 30, 2020<\/span> was $608.1 million<\/span>, compared to $531.6 million<\/span> at September 30, 2019<\/span>.<\/p>\n

\n Charles E. Owens<\/span>, the Company’s President and Chief Executive Officer, said, “We are pleased with our strong profitability in fiscal 2020.\u00a0 Our successful year was primarily driven by our disciplined approach to productivity at the project level and bidding processes, effective utilization of crews and equipment, vertical integration synergies and lower fuel costs. While 2020 presented economic and business challenges, primarily stemming from the global pandemic, I am extremely proud of our employees and the organization’s resiliency. <\/p>\n

Owens continued, “Heading into fiscal year 2021, our organization is well-positioned for continued growth. We see strength in the state funding programs across our geographic footprint, where the demand for road repair and maintenance are ongoing. We also have expanded with the acquisition of 13 hot-mix asphalt plants in the past 10 months, and we now operate 46 hot-mix asphalt plants, representing distinct markets across our five southeastern states. Based on this increased hot-mix asphalt plant coverage, sustained state funding programs, CPI’s backlog and near-term visibility of the business, we are initiating our fiscal 2021 outlook indicating strong growth in the coming year.” <\/p>\n

\n (1)<\/sup>\u00a0Adjusted EBITDA and Adjusted EBITDA margin are financial measures not presented in accordance with generally accepted accounting principles (“GAAP”). Please see “Reconciliation of Non-GAAP Financial Measures” at the end of this press release.<\/p>\n

\n Fiscal Year 2021 Outlook<\/b>\n <\/p>\n

The Company announced its outlook for fiscal year 2021 with regard to revenue, net income and Adjusted EBITDA, as follows:<\/p>\n

\u2013\u00a0 Revenue of $950 million<\/span> to $1.0 billion<\/span><\/p>\n

\u2013\u00a0 Net income of $42.0 million<\/span> to $46.5 million<\/span><\/p>\n

\u2013\u00a0 Adjusted EBITDA (1)<\/sup> of $109.0 million<\/span> to $118.0 million<\/span><\/p>\n

\n Ned N. Fleming, III<\/span>, the Company’s Executive Chairman, stated, “Our management team and leaders across the company did an outstanding job of navigating through this incredibly difficult year. They remained focused on our strategy of profitable growth and effectively implemented new safety protocols as they managed disruptions from COVID-19. In addition, recent acquisitions demonstrate the Company’s position as a premier consolidator in a highly fragmented industry. We remain confident about organic and acquisitive growth opportunities as the team continues to execute on short- and longer-term strategies.”<\/p>\n

\n Conference Call <\/b>\n <\/p>\n

The Company will conduct a conference call today at 9:00 a.m. Central Time<\/span> to discuss financial and operating results for the quarter and fiscal year ended September 30, 2020<\/span>. To access the call live by phone, dial (412) 902-0003 and ask for the Construction Partners call at least 10 minutes prior to the start time.\u00a0 A telephonic replay will be available through December 18, 2020<\/span> by calling (201) 612-7415 and using passcode 13712186#. A webcast of the call will also be available live and for later replay on the Company’s Investor Relations website at www.constructionpartners.net<\/a>.<\/p>\n

\n About Construction Partners, Inc.<\/b>\n <\/p>\n

Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 46 hot-mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company’s public projects are maintenance-related. Private sector projects include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net<\/a>.<\/p>\n

\n Cautionary Note Regarding Forward-Looking Statements<\/b>\n <\/p>\n

Certain statements contained herein that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words such as “may,” “will,” “expect,” “should,” “anticipate,” “intend,” “project,” “outlook,” “believe” and “plan.” The forward-looking statements contained in this press release include, without limitation, statements related to financial projections, future events, business strategy, future performance, future operations, backlog, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management. These and other forward-looking statements are based on management’s current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Important factors could cause actual results to differ materially from those expressed in the forward-looking statements, including, among others: our ability to successfully manage and integrate acquisitions; failure to realize the expected economic benefits of acquisitions, including future levels of revenues being lower than expected and costs being higher than expected; failure or inability to implement growth strategies in a timely manner; declines in public infrastructure construction and reductions in government funding, including the funding by transportation authorities and other state and local agencies; risks related to our operating strategy; competition for projects in our local markets; risks associated with our capital-intensive business; government requirements and initiatives, including those related to funding for public or infrastructure construction, land usage and environmental, health and safety matters; unfavorable economic conditions and restrictive financing markets; our ability to obtain sufficient bonding capacity to undertake certain projects; our ability to accurately estimate the overall risks, requirements or costs when we bid on or negotiate contracts that are ultimately awarded to us; the cancellation of a significant number of contracts or our disqualification from bidding for new contracts; risks related to adverse weather conditions; our substantial indebtedness and the restrictions imposed on us by the terms thereof; our ability to maintain favorable relationships with third parties that supply us with equipment and essential supplies; our ability to retain key personnel and maintain satisfactory labor relations; property damage, results of litigation and other claims and insurance coverage issues; risks related to our information technology systems and infrastructure; our ability to maintain effective internal control over financial reporting; risks from the COVID-19 pandemic, and the risks, uncertainties and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q.\u00a0 Forward-looking statements speak only as of the date they are made.\u00a0 The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.<\/p>\n

\n Contacts:<\/b>\n <\/p>\n

\n Rick Black<\/span> \/ Ken Dennard<\/span>
Dennard Lascar<\/span> Investor Relations
ROAD@DennardLascar.com<\/a>
(713) 529-6600<\/p>\n

\n – Financial Statements Follow \u2013<\/i>\n <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n CONSTRUCTION PARTNERS, INC.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n CONSOLIDATED STATEMENTS OF INCOME<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (in thousands, except share and per share data)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n
\n For the Three Months Ended
September 30,\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n For the Fiscal Year Ended
September 30,\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenues<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0224,645<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0237,317<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0785,679<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0783,238<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cost of revenues<\/span>\n <\/p>\n<\/td>\n

\n

\n 183,653<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 198,385<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 663,467<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 665,285<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Gross profit<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 40,992<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 38,932<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 122,212<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 117,953<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n General and administrative expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n (17,811)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (17,554)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (68,597)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (62,724)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gain on sale of equipment, net<\/span>\n <\/p>\n<\/td>\n

\n

\n 482<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 824<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,616<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,909<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Operating income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 23,663<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 22,202<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 55,231<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 57,138<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest expense, net<\/span>\n <\/p>\n<\/td>\n

\n

\n (423)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (352)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (3,113)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,861)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other income<\/span>\n <\/p>\n<\/td>\n

\n

\n 379<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 120<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 336<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 416<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Income before provision for income taxes and earnings from investment<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n in joint venture<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 23,619<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 21,970<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 52,454<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 55,693<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Provision for income taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n 6,138<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,829<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,760<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 13,909<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Earnings from investment in joint venture<\/span>\n <\/p>\n<\/td>\n

\n

\n 71<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 412<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 603<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,337<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a017,552<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a016,553<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a040,297<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a043,121<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Net income per share attributable to common stockholders:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Basic<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.34<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.32<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.78<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.84<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Diluted<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.34<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.32<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.78<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 0.84<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Weighted average number of common shares outstanding:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Basic<\/span>\n <\/p>\n<\/td>\n

\n

\n 51,489,211<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 51,440,564<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 51,489,211<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 51,421,159<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Diluted<\/span>\n <\/p>\n<\/td>\n

\n

\n 51,673,510<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 51,457,906<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 51,636,934<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 51,427,220<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n CONSTRUCTION PARTNERS, INC.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n CONSOLIDATED BALANCE SHEETS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (in thousands, except share and per share data)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n \u00a0September 30,\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n ASSETS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Current assets:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $148,316<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a080,619<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Contracts receivable including retainage, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 131,770<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 139,882<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Costs and estimated earnings in excess of billings on uncompleted contracts<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,873<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,030<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Inventories<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 38,561<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34,291<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Prepaid expenses and other current assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,041<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 13,144<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total current assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 331,561<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 279,966<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Property, plant and equipment, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 237,230<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 205,870<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease right-of-use assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,383<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Goodwill<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 46,348<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 38,546<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Intangible assets, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,224<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,434<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Investment in joint venture<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 198<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 496<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,784<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,284<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred income taxes, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 386<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,173<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $628,114<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $531,769<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Current liabilities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Accounts payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a064,732<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a070,442<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Billings in excess of costs and estimated earnings on uncompleted contracts<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 33,704<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 31,115<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Current portion of operating lease liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,046<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Current maturities of long-term debt<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 13,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,538<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accrued expenses and other current liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 22,347<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19,078<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total current liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 135,829<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 128,173<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Long-term liabilities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Long-term debt, net of current maturities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 79,053<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 42,458<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease liabilities, net of current portion<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,554<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred income taxes, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14,003<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,480<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other long-term liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,480<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,108<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total long-term liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 107,090<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 60,046<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 242,919<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 188,219<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Commitments and contingencies<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Stockholders’ Equity:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Preferred stock, par value $0.001; 10,000,000 shares authorized at September 30, 2020 and September 30, 2019 and no
shares issued and outstanding<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Class A common stock, par value $0.001; 400,000,000 shares authorized, 33,875,884 shares issued and<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n outstanding at September 30, 2020, and 32,597,736 shares issued and outstanding at September 30, 2019<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 33<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Class B common stock, par value $0.001; 100,000,000 shares authorized, 20,828,813 shares issued and<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n 17,905,861 shares outstanding at September 30, 2020, and 22,106,961 shares issued and 19,184,009 shares outstanding at
September 30, 2019<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 21<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 22<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Additional paid-in capital<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 245,022<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 243,452<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Treasury stock, at cost, 2,922,952 shares of Class B common stock, par value $0.001<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (15,603)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (15,603)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Retained earnings<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 155,721<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 115,646<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total stockholders’ equity<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 385,195<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 343,550<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total liabilities and stockholders’ equity<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $628,114<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $531,769<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n CONSTRUCTION PARTNERS, INC.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (in thousands)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n For the Fiscal Year<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n \u00a0Ended September 30,\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash flows from operating activities:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a040,297<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $43,121<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjustments to reconcile net income to net cash provided by operating activities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Depreciation, depletion and amortization of long-lived assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 39,301<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 31,231<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Amortization of deferred debt issuance costs<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 170<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 109<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Loss on derivative instruments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,900<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 565<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Provision for bad debt<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 705<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 995<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gain on sale of equipment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,616)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,909)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Equity-based compensation expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,570<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 957<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Earnings from investment in joint venture<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (603)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,337)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Distribution of earnings from investment in joint venture<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 540<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred income taxes<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,310<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,997<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other non-cash adjustments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Changes in operating assets and liabilities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Contracts receivable including retainage, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,407<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (20,586)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Costs and estimated earnings in excess of billings on uncompleted contracts<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,157<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2,696)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Inventories<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,183)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (8,826)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Prepaid expenses and other current assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,103<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 993<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,986<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accounts payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,710)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,932<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Billings in excess of costs and estimated earnings on uncompleted contracts<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,589<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (7,623)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accrued expenses and other current liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,086<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,117<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other long-term liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 655<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 248<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net cash provided by operating activities, net of acquisitions<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 105,173<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 55,274<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash flows from investing activities:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Purchases of property, plant and equipment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (52,574)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (42,479)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Acquisition of liquid asphalt terminal assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (10,848)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Proceeds from sale of equipment<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,041<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,456<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Business acquisitions, net of cash acquired<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (30,191)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (13,854)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Distributions received from investment in joint venture<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 361<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net cash used in investing activities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (79,363)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (60,225)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash flows from financing activities:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Proceeds from issuance of long-term debt, net of debt issuance costs and discount<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 72,299<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Principal payments of long-term debt<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (30,412)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (13,001)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Payment of treasury stock purchase obligation<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (569)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Proceeds from sale of stock<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n –<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net cash provided by (used in) financing activities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 41,887<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (13,567)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net change in cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 67,697<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (18,518)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Cash and cash equivalents:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Beginning of period<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 80,619<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 99,137<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n End of period<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $148,316<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $80,619<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Supplemental cash flow information:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash paid for interest<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a02,041<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a02,639<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cash paid for income taxes<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a09,905<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a09,119<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cash paid for operating lease liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a03,228<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0–<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Non-cash items:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Operating lease right-of-use assets obtained in exchange for operating lease liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a01,516<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0–<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Property, plant and equipment financed with accounts payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a02,761<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 904<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Reconciliation of Non-GAAP Financial Measures<\/b>\n <\/p>\n

Adjusted EBITDA represents net income before, as applicable from time to time, (i) interest expense, net, (ii) provision (benefit) for income taxes, (iii) depreciation, depletion and amortization of long-lived assets, (iv) equity-based compensation expense, (v) loss on extinguishment of debt and (vi) certain management fees and expenses, and excludes income recognized in connection with a legal settlement between certain of the Company’s subsidiaries and a third party that did not directly relate to the Company’s business and that the Company does not expect to reoccur. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of revenues for each period. Adjusted EBITDA and Adjusted EBITDA Margin are supplemental measures of our operating performance that are neither required by, nor presented in accordance with, GAAP. These measures should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP as an indicator of our operating performance. Management uses Adjusted EBITDA and Adjusted EBITDA Margin as key performance indicators, and we believe they are measures frequently used by securities analysts, investors and other parties to evaluate companies in our industry. These measures have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of our results as reported under GAAP.<\/p>\n

Our calculation of Adjusted EBITDA and Adjusted EBITDA Margin may not be comparable to similarly named measures reported by other companies. Potential differences may include differences in capital structures, tax positions and the age and book depreciation of intangible and tangible assets.<\/p>\n

The following tables present a reconciliation of net income, the most directly comparable measure calculated in accordance with GAAP, to Adjusted EBITDA, and the calculation of Adjusted EBITDA Margin for each of the periods presented:<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Construction Partners, Inc.<\/b>
\n <\/span>\n <\/p>\n

\n
\n Net Income to Adjusted EBITDA Reconciliation<\/b>
\n <\/span>\n <\/p>\n

\n
\n Fiscal Year Ended September 30, 2020 and 2019<\/b>
\n <\/span>\n <\/p>\n

\n
\n (in thousands, except percentages)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n For the Fiscal Year Ended
September 30,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a040,297<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a043,121<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Interest expense, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,113<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,861<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Provision for income taxes<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,760<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 13,909<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Depreciation, depletion and amortization of long-lived assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 39,301<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 31,231<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Equity-based compensation expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,570<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 957<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Management fees and expenses (1)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,403<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,252<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted EBITDA<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a098,444<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a092,331<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenues<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $785,679<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $783,238<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted EBITDA Margin<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12.5%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n
\n \n <\/td>\n<\/tr>\n
\n

\n
\n (1)<\/sup>\u00a0Reflects fees and reimbursement of certain out-of-pocket expenses under a management services agreement with SunTx Capital Partners, the Company’s controlling shareholder.\u00a0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Construction Partners, Inc.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Net Income to Adjusted EBITDA Reconciliation<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Fiscal Year 2021 Outlook<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (in thousands)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n
\n For the Fiscal Year Ending
September 30, 2021<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n Low<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n High<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net income<\/span>\n <\/p>\n<\/td>\n

\n

\n $42,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $46,500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Interest expense, net<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,700<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Provision for income taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 15,600<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Depreciation, depletion and amortization of long-lived assets<\/span>\n <\/p>\n<\/td>\n

\n

\n 47,600<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 50,200<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Equity-based compensation expense<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,570<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,600<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Management fees and expenses\u00a0(1)<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 1,330<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,400<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted EBITDA<\/span>\n <\/p>\n<\/td>\n

\n

\n $109,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $118,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n\n
\n \n <\/td>\n<\/tr>\n
\n

\n
\n (1)<\/sup>\u00a0Reflects fees and reimbursement of certain out-of-pocket expenses under a management services agreement with SunTx Capital Partners, the Company’s controlling shareholder.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results-301190905.html<\/a><\/p>\n

SOURCE Construction Partners, Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Company Provides Fiscal 2021 Outlook PR Newswire DOTHAN, Ala., Dec. 11, 2020 \/PRNewswire\/ — Construction Partners, Inc. (NASDAQ: ROAD) (the “Company”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today reported financial and operating results for its fourth quarter and fiscal year ended September 30, 2020. Key Metrics:\u00a0 Fiscal Year 2020 Compared to Fiscal Year 2019 \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Revenue was $785.7 million, up 0.3% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Gross profit was $122.2 million, up 3.6% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Net income was $40.3 million, down 6.5% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Adjusted EBITDA(1) was $98.4 million, up 6.6% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Adjusted EBITDA margin(1)was 12.5%, up 70 bps Project backlog at September 30, 2020 was $608.1 million, compared to $531.6 million at September … <\/p>\n

Continue reading “Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-398180","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nConstruction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Company Provides Fiscal 2021 Outlook PR Newswire DOTHAN, Ala., Dec. 11, 2020 \/PRNewswire\/ — Construction Partners, Inc. (NASDAQ: ROAD) (the “Company”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today reported financial and operating results for its fourth quarter and fiscal year ended September 30, 2020. Key Metrics:\u00a0 Fiscal Year 2020 Compared to Fiscal Year 2019 \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Revenue was $785.7 million, up 0.3% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Gross profit was $122.2 million, up 3.6% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Net income was $40.3 million, down 6.5% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Adjusted EBITDA(1) was $98.4 million, up 6.6% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Adjusted EBITDA margin(1)was 12.5%, up 70 bps Project backlog at September 30, 2020 was $608.1 million, compared to $531.6 million at September … Continue reading "Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-11T13:03:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA20729&sd=2020-12-11\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results\",\"datePublished\":\"2020-12-11T13:03:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/\"},\"wordCount\":2161,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=DA20729&sd=2020-12-11\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/\",\"name\":\"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=DA20729&sd=2020-12-11\",\"datePublished\":\"2020-12-11T13:03:40+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/#primaryimage\",\"url\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=DA20729&sd=2020-12-11\",\"contentUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=DA20729&sd=2020-12-11\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/","og_locale":"en_US","og_type":"article","og_title":"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results - Market Newsdesk","og_description":"Company Provides Fiscal 2021 Outlook PR Newswire DOTHAN, Ala., Dec. 11, 2020 \/PRNewswire\/ — Construction Partners, Inc. (NASDAQ: ROAD) (the “Company”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today reported financial and operating results for its fourth quarter and fiscal year ended September 30, 2020. Key Metrics:\u00a0 Fiscal Year 2020 Compared to Fiscal Year 2019 \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Revenue was $785.7 million, up 0.3% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Gross profit was $122.2 million, up 3.6% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Net income was $40.3 million, down 6.5% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Adjusted EBITDA(1) was $98.4 million, up 6.6% \u2013\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Adjusted EBITDA margin(1)was 12.5%, up 70 bps Project backlog at September 30, 2020 was $608.1 million, compared to $531.6 million at September … Continue reading \"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-11T13:03:40+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA20729&sd=2020-12-11","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results","datePublished":"2020-12-11T13:03:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/"},"wordCount":2161,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA20729&sd=2020-12-11","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/","name":"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA20729&sd=2020-12-11","datePublished":"2020-12-11T13:03:40+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/#primaryimage","url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA20729&sd=2020-12-11","contentUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA20729&sd=2020-12-11"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-announces-fiscal-2020-fourth-quarter-and-year-end-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Construction Partners, Inc. Announces Fiscal 2020 Fourth Quarter and Year-End Results"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/398180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=398180"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/398180\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=398180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=398180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=398180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}