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bird COMPANY : BIRD CONSTRUCTION INC . TORONTO STOCK EXCHANGE MISSISSAUGA LISTING : CITY : SYMBOL : BDT DATE : SUBJECT : November 9 , 2021 BIRD CONSTRUCTION INC . ANNOUNCES 2021 THIRD QUARTER FINANCIAL RESULTS " The Company has been focused on advancing collaboration , both internally and externally , and we are truly seeing the benefit of that reflected in the increase in collaborative contract awards . These collaborative projects have been primary drivers for our record Backlog , record Pending Backlog and record revenue in the third quarter , " said Mr. Teri McKibbon , President and CEO of Bird Construction . " Our employees have embraced the changes in our company over the past several years and have done a tremendous job managing through the pandemic while building a resilient business . Bird's bid pipeline is robust , and we continue to see more cross selling opportunities emerge as we continue our successful integration with Stuart Olson . While it is early days with Dagmar Construction , we are excited about the growth prospects this acquisition opens up to us in the civil infrastructure market . Both acquisitions are acting as catalysts for Bird to grow and diversify , all while maintaining a balanced risk profile in our work program . " FINANCIAL HIGHLIGHTS Third Quarter 2021 compared to Third Quarter 2020 • • • • Construction revenue of $ 621.2 million , representing an 80.0 % increase year - over - year . Net income and earnings per share were $ 12.1 million and $ 0.23 , respectively , compared to $ 8.8 million and $ 0.20 in Q3 2020 . Adjusted Earnings ( 1 ) and Adjusted Earnings Per Share ( 1 ) were $ 13.8 million and $ 0.26 , respectively , compared to $ 12.4 million and $ 0.29 in Q3 2020 . Adjusted EBITDA ( 1 ) of $ 28.6 million , or 4.6 % of revenues , reflects a 29.7 % increase in Adjusted EBITDA . Record Backlog of $ 2,828.0 million and record Pending Backlog of $ 1,787.7 million at September 30 , 2021 . . Strong balance sheet with $ 154.9 million of working capital at September 30 , 2021 , compared to $ 130.3 million at December 31 , 2020 . Year - to - date 2021 compared to Year - to - date 2020 • • • • Construction revenue of $ 1,622.2 million , representing a 70.9 % increase year - over - year . Net income and earnings per share were $ 32.9 million and $ 0.62 , respectively , compared to $ 15.6 million and $ 0.36 in 2020 . Adjusted Earnings and Adjusted Earnings Per Share were $ 37.9 million and $ 0.71 respectively , compared to $ 20.1 million and $ 0.47 in 2020 . Adjusted EBITDA of $ 79.7 million , or 4.9 % of revenues , reflects a 90.2 % increase in Adjusted EBITDA . ( 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 .