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2/5/2021
Greetings and welcome to the Construction Partners, Inc. First Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during a conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Rick Black, Investor Relations for Construction Partners. Thank you. You may begin.
Thank you, operator, and good morning, everyone. We appreciate you joining us for the Construction Partners conference call to review first quarter fiscal year 2021 results. This call is also being webcast and can be accessed through the audio link on the events and presentations page of the investor relations section of constructionpartners.net. Information recorded on this call speaks only as of today, February 5th, 2021. So please be advised that any time-sensitive information may no longer be accurate as of the date of any replay. I would also like to remind you that the statements made in today's discussion that are not historical facts, including statements or expectations of future events or future financial performance, are all considered forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. We will be making forward-looking statements as part of today's call that by their nature are uncertain and outside of the company's control. Actual results may differ materially. Please refer to the earnings press release that was issued today for our disclosure on forward-looking statements. These factors and other risks and uncertainties are described in detail in the company's filings with the Securities and Exchange Commission. Management will also refer to non-GAAP measures, including adjusted EBITDA. Reconciliations to the nearest gap measures can be found at the end of our earnings press release. Construction Partners assumes no obligation to publicly update or revise any forward-looking statements. And now I would like to turn the call over to Construction Partners CEO, Charles Owens. Charles?
Thank you, Rick, and good morning, everyone. With me on the call today are Jewel Smith, our Chief Operating Officer, Alan Palmer, our Chief Financial Officer, and Ned Fleming, our Executive Chairman. We are pleased with our performance in the first quarter of Physical 2021. We had solid demand in both our private and public project work during the quarter. In addition, our disciplined approach in bidding, project management, effective utilization of equipment and crews, and vertical integration synergies drove this strong financial performance. We see strength in the funding programs across the states in which we operate where the demand for road repair and maintenance is ongoing. We also expanded our geographic footprint in the first quarter with four boat-owned acquisitions in North Carolina. We now operate 48 hot mix asphalt plants which represents distinct markets across the five Southeastern states that we serve. From a federal infrastructure funding perspective, we remain optimistic about the prospect of a long-term funding mechanism in light of bipartisan support for infrastructure legislation. We are confident that our nation's infrastructure will continue to be a primary focus for our country as an economic driver and a critical component of public safety. Based on our current backlog and near-term visibility of the business, we are maintaining our previously announced outlook for the year, which indicates strong growth for CPI. Before turning the call over to Jewel, I'd like to thank our leadership team, and more than 2,500 employees for their commitment, dedication, and hard work that enables us to successfully execute our strategy. I'll now turn the call over to Jewel to comment on operations and acquisitions. Jewel.
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