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bird COMPANY : LISTING : BIRD CONSTRUCTION INC . TORONTO STOCK EXCHANGE MISSISSAUGA CITY : SYMBOL : BDT DATE : SUBJECT : August 10 , 2021 BIRD CONSTRUCTION INC . ANNOUNCES 2021 SECOND QUARTER FINANCIAL RESULTS " The second quarter of 2021 was very strong for the Company . We reported our eleventh successive quarter of trailing twelve month Adjusted EBITDA margin improvement and our combined Backlog reached a new record high . We are extremely pleased with the acquisition of Stuart Olson as the integration is on track and it is contributing positively to the bottom line . Additionally , we are witnessing increasingly greater cross - selling opportunities emerge as the list of combined project pursuits continues to grow , " said Mr. Teri McKibbon , President and CEO , Bird Construction . “ The Company's strategic focus in the past several years to balance the risk profile of our work program and further diversify the Company both geographically and with new service offerings continues to bear fruit . This , combined with higher recurring revenue streams , a record combined Backlog and a key focus on margin expansion , positions Bird to continue to deliver strong financial performance as market conditions improve and with government spending expected to rise . " FINANCIAL HIGHLIGHTS Second Quarter 2021 compared to Second Quarter 2020 • • • • Construction revenue of $ 556.4 million , representing a 96.8 % increase year - over - year . Net income and earnings per share were $ 13.6 million and $ 0.26 , respectively , compared to $ 5.6 million and $ 0.13 in Q2 2020 . Adjusted Earnings ( 1 ) and Adjusted Earnings Per Share ( 1 ) were $ 15.0 million and $ 0.28 , respectively , compared to $ 6.6 million and $ 0.15 in Q2 2020 . Adjusted EBITDA ( 1 ) of $ 30.1 million , or 5.4 % of revenues , reflects a 144.3 % increase in Adjusted EBITDA and a 105 bps improvement in Adjusted EBITDA Margin ( ¹ ) . Record Backlog of $ 2,709.3 million and Pending Backlog of $ 1,647.6 million at June 30 , 2021 . • • Strong balance sheet with $ 142.7 million of working capital at June 30 , 2021 . Year - to - date 2021 compared to Year - to - date 2020 • • • • Construction revenue of $ 1,001.0 million , representing a 65.6 % increase year - over - year . Net income and earnings per share were $ 20.7 million and $ 0.39 , respectively , compared to $ 6.7 million and $ 0.16 in 2020 . Adjusted Earnings and Adjusted Earnings Per Share were $ 24.1 million and $ 0.45 respectively , compared to $ 7.7 million and $ 0.18 in 2020 . Adjusted EBITDA of $ 51.2 million , or 5.1 % of revenues , reflects a 157.2 % increase in Adjusted EBITDA and a 180 bps improvement in Adjusted EBITDA Margin year - over - year . ( 1 ) Non - GAAP measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other entities . Refer to the section entitled " Non - GAAP Measures " at the end of this news release .