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bird COMPANY : LISTING : BIRD CONSTRUCTION INC . TORONTO STOCK EXCHANGE MISSISSAUGA CITY : SYMBOL : DATE : SUBJECT : BDT March 9 , 2021 BIRD CONSTRUCTION INC . ANNOUNCES 2020 FOURTH QUARTER AND ANNUAL FINANCIAL RESULTS " I am proud to report strong fourth quarter and full - year 2020 results in spite of the challenges presented by the global pandemic , ” said Teri McKibbon , President and CEO , Bird Construction . “ I particularly want to recognize the employees on our project sites who have worked tirelessly throughout to safely deliver our project commitments . The Bird team's unwavering dedication to our company , clients and projects over this challenging period allowed us to post strong revenue and profitability growth for the fourth quarter and full - year 2020 , marking our ninth straight quarter of trailing twelve month Adjusted EBITDA margin improvement . " FINANCIAL HIGHLIGHTS Fourth Quarter 2020 compared to Fourth Quarter 2019 • • • • Construction revenue of $ 555.0 million , representing a 31.9 % increase year - over - year . Net income and earnings per share were $ 20.5 million and $ 0.39 , respectively , compared to $ 8.2 million and $ 0.19 in Q4 2019 . Adjusted Earnings and Adjusted Earnings Per Share were $ 21.5 million and $ 0.41 , respectively , compared to $ 8.2 million and $ 0.19 in Q4 2019 . Adjusted EBITDA of $ 40.0 million , or 7.2 % of revenues , reflects a 149.9 % increase in Adjusted EBITDA and a 340 bps improvement in Adjusted EBITDA Margin . Full - Year 2020 compared to Full - Year 2019 • • • • • • Construction revenue of $ 1,504.4 million , representing a 9.3 % increase year - over - year . Net income and earnings per share were $ 36.1 million and $ 0.80 , respectively , compared to $ 9.5 million and $ 0.22 in 2019 . Adjusted Earnings and Adjusted Earnings Per Share were $ 41.6 million and $ 0.92 , respectively , compared to $ 9.5 million and $ 0.22 in 2019 . Adjusted EBITDA of $ 81.9 million , or 5.5 % of revenues , reflects a 153.7 % increase in Adjusted EBITDA and a 310 bps improvement in Adjusted EBITDA Margin year - over - year . Record Backlog of $ 2,682.5 million and Pending Backlog of $ 1,635.9 million at year end . Retained a strong balance sheet with $ 135.5 million of working capital and $ 156.9 million of non - restricted cash . " The fourth quarter also represents the first full quarter Stuart Olson was integrated within Bird's results since completing the acquisition late in the third quarter of 2020. I am pleased to report Stuart Olson contributed positively to the bottom line in Q4 2020 and expect the same in 2021. The integration is on track and the amalgamation of the two companies has provided Bird significant bench strength , cross - selling opportunities and cost synergies . All told , the combination of our efforts has resulted in a more resilient business model as we have further de - risked our backlog and diversified our work programs , ” added Mr. McKibbon . " The strength of the underlying business we have created , along with our strong balance sheet and the pursuit of accretive , profitable growth positions the Company to create long - term value for all stakeholders for decades to come . "