Construction Partners, Inc. (NASDAQ: ROAD) reported Q4 EPS of $0.34, $0.04 better than the analyst estimate of $0.30. Revenue for the quarter came in at $224.65 million versus the consensus estimate of $241.5 million.

Charles E. Owens, the Company's President and Chief Executive Officer, said, "We are pleased with our strong profitability in fiscal 2020. 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.

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."

GUIDANCE:

Construction Partners, Inc. sees FY2021 revenue of $950-1000 million, versus the consensus of $859.25 million.

The Company announced its outlook for fiscal year 2021 with regard to revenue, net income and Adjusted EBITDA, as follows:

• Revenue of $950 million to $1.0 billion
• Net income of $42.0 million to $46.5 million
• Adjusted EBITDA (1) of $109.0 million to $118.0 million

Ned N. Fleming, III, 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."

For earnings history and earnings-related data on Construction Partners, Inc. (ROAD) click here.