Exhibit 99.1

						NEWS RELEASE

Construction Partners, Inc. Announces

Fiscal 2020 Fourth Quarter and Year-End Results

Company Provides Fiscal 2021 Outlook

DOTHAN, AL, December 11, 2020 – Construction Partners, Inc. (NASDAQ: ROAD) (the “Company”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today reported financial and operating results for its fourth quarter and fiscal year ended September 30, 2020.

Key Metrics: Fiscal Year 2020 Compared to Fiscal Year 2019

–Revenue was $785.7 million, up 0.3%

–Gross profit was $122.2 million, up 3.6%

–Net income was $40.3 million, down 6.5%

–Adjusted EBITDA(1) was $98.4 million, up 6.6%

–Adjusted EBITDA margin(1) was 12.5%, up 70 bps

Project backlog at September 30, 2020 was $608.1 million, compared to $531.6 million at September 30, 2019.

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.”

Fiscal Year 2021 Outlook

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

(1) Adjusted EBITDA and Adjusted EBITDA margin are financial measures not presented in accordance with generally accepted accounting principles (“GAAP”). Please see “Reconciliation of Non-GAAP Financial Measures” at the end of this press release.

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confident about organic and acquisitive growth opportunities as the team continues to execute on short- and longer-term strategies.”

Conference Call

The Company will conduct a conference call today at 9:00 a.m. Central Time to discuss financial and operating results for the quarter and fiscal year ended September 30, 2020. To access the call live by phone, dial (412) 902-0003 and ask for the Construction Partners call at least 10 minutes prior to the start time. A telephonic replay will be available through December 18, 2020 by calling (201) 612-7415 and using passcode 13712186#. A webcast of the call will also be available live and for later replay on the Company’s Investor Relations website at www.constructionpartners.net.

About Construction Partners, Inc.

Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 46 hot-mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company’s public projects are maintenance-related. Private sector projects include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words such as “may,” “will,” “expect,” “should,” “anticipate,” “intend,” “project,” “outlook,” “believe” and “plan.” The forward-looking statements contained in this press release include, without limitation, statements related to financial projections, future events, business strategy, future performance, future operations, backlog, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management. These and other forward-looking statements are based on management’s current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Important factors could cause actual results to differ materially from those expressed in the forward-looking statements, including, among others: our ability to successfully manage and integrate acquisitions; failure to realize the expected economic benefits of acquisitions, including future levels of revenues being lower than expected and costs being higher than expected; failure or inability to implement growth strategies in a timely manner; declines in public infrastructure construction and reductions in government funding, including the funding by transportation authorities and other state and local agencies; risks related to our operating strategy; competition for projects in our local markets; risks associated with our capital-intensive business; government requirements and initiatives, including those related to funding for public or infrastructure construction, land usage and environmental, health and safety matters; unfavorable economic conditions and restrictive financing markets; our ability to obtain sufficient bonding capacity to undertake certain projects; our ability to accurately estimate the overall risks, requirements or costs when we bid on or negotiate contracts that are ultimately awarded to us; the cancellation of a significant number of contracts or our disqualification from bidding for new contracts; risks related to adverse weather conditions; our substantial indebtedness and the restrictions imposed on us by the terms thereof; our ability to maintain favorable relationships with third parties that supply us with equipment and essential supplies; our ability to retain key personnel and maintain satisfactory labor relations; property damage, results of litigation and other claims and insurance coverage issues; risks related to our information technology systems and infrastructure; our ability to maintain effective internal control over financial reporting; risks from the COVID-19 pandemic, and the risks, uncertainties and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.

Contacts:

Rick Black / Ken Dennard

Dennard Lascar Investor Relations

ROAD@DennardLascar.com

(713) 529-6600

- Financial Statements Follow –

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Construction Partners, Inc.

Consolidated Statements of Income

(in thousands, except share and per share data)

			For the Three Months Ended September 30,												For the Fiscal Year Ended September 30,
			2020						2019						2020						2019
Revenues			$	224,645					$	237,317					$	785,679					$	783,238
Cost of revenues			183,653						198,385						663,467						665,285
Gross profit			40,992						38,932						122,212						117,953
General and administrative expenses			(17,811)						(17,554)						(68,597)						(62,724)
Gain on sale of equipment, net			482						824						1,616						1,909
Operating income			23,663						22,202						55,231						57,138
Interest expense, net			(423)						(352)						(3,113)						(1,861)
Other income			379						120						336						416
Income before provision for income taxes and earnings from investment in joint venture			23,619						21,970						52,454						55,693
Provision for income taxes			6,138						5,829						12,760						13,909
Earnings from investment in joint venture			71						412						603						1,337
Net income			$	17,552					$	16,553					$	40,297					$	43,121
Net income per share attributable to common stockholders:
Basic			$	0.34					$	0.32					$	0.78					$	0.84
Diluted			$	0.34					$	0.32					$	0.78					$	0.84
Weighted average number of common shares outstanding:
Basic			51,489,211						51,440,564						51,489,211						51,421,159
Diluted			51,673,510						51,457,906						51,636,934						51,427,220

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Construction Partners, Inc.

Consolidated Balance Sheets

(in thousands, except share and per share data)

			September 30,
			2020						2019
ASSETS
Current assets:
Cash and cash equivalents			$	148,316					$	80,619
Contracts receivable including retainage, net			131,770						139,882
Costs and estimated earnings in excess of billings on uncompleted contracts			7,873						12,030
Inventories			38,561						34,291
Prepaid expenses and other current assets			5,041						13,144
Total current assets			331,561						279,966
Property, plant and equipment, net			237,230						205,870
Operating lease right-of-use assets			7,383						—
Goodwill			46,348						38,546
Intangible assets, net			3,224						3,434
Investment in joint venture			198						496
Other assets			1,784						2,284
Deferred income taxes, net			386						1,173
Total assets			$	628,114					$	531,769
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable			$	64,732					$	70,442
Billings in excess of costs and estimated earnings on uncompleted contracts			33,704						31,115
Current portion of operating lease liabilities			2,046						—
Current maturities of long-term debt			13,000						7,538
Accrued expenses and other current liabilities			22,347						19,078
Total current liabilities			135,829						128,173
Long-term liabilities:
Long-term debt, net of current maturities			79,053						42,458
Operating lease liabilities, net of current portion			5,554						—
Deferred income taxes, net			14,003						11,480
Other long-term liabilities			8,480						6,108
Total long-term liabilities			107,090						60,046
Total liabilities			242,919						188,219
Commitments and contingencies
Stockholders’ equity:
Preferred stock, par value $0.001; 10,000,000 shares authorized at September 30, 2020 and September 30, 2019 and no shares issued and outstanding			—						—
Class A common stock, par value $0.001; 400,000,000 shares authorized, 33,875,884 shares issued and outstanding at September 30, 2020, and 32,597,736 shares issued and outstanding at September 30, 2019			34						33
Class B common stock, par value $0.001; 100,000,000 shares authorized, 20,828,813 shares issued and 17,905,861 shares outstanding at September 30, 2020, and 22,106,961 shares issued and 19,184,009 shares outstanding at September 30, 2019			21						22
Additional paid-in capital			245,022						243,452
Treasury stock, at cost, 2,922,952 shares of Class B common stock, par value $0.001			(15,603)						(15,603)
Retained earnings			155,721						115,646
Total stockholders’ equity			385,195						343,550
Total liabilities and stockholders’ equity			$	628,114					$	531,769

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Construction Partners, Inc.

Consolidated Statements of Cash Flows

(in thousands)

			For the Fiscal Year Ended
			September 30,
			2020						2019
Cash flows from operating activities:
Net income			$	40,297					$	43,121
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization of long-lived assets			39,301						31,231
Amortization of deferred debt issuance costs			170						109
Loss on derivative instruments			1,900						565
Provision for bad debt			705						995
Gain on sale of equipment			(1,616)						(1,909)
Equity-based compensation expense			1,570						957
Earnings from investment in joint venture			(603)						(1,337)
Distribution of earnings from investment in joint venture			540						—
Deferred income taxes			3,310						2,997
Other non-cash adjustments			(5)						—
Changes in operating assets and liabilities:
Contracts receivable including retainage, net			7,407						(20,586)
Costs and estimated earnings in excess of billings on uncompleted contracts			4,157						(2,696)
Inventories			(1,183)						(8,826)
Prepaid expenses and other current assets			8,103						993
Other assets			500						7,986
Accounts payable			(5,710)						6,932
Billings in excess of costs and estimated earnings on uncompleted contracts			2,589						(7,623)
Accrued expenses and other current liabilities			3,086						2,117
Other long-term liabilities			655						248
Net cash provided by operating activities, net of acquisitions			105,173						55,274
Cash flows from investing activities:
Purchases of property, plant and equipment			(52,574)						(42,479)
Acquisition of liquid asphalt terminal assets			—						(10,848)
Proceeds from sale of equipment			3,041						4,456
Business acquisitions, net of cash acquired			(30,191)						(13,854)
Distributions received from investment in joint venture			361						2,500
Net cash used in investing activities			(79,363)						(60,225)
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net of debt issuance costs and discount			72,299						—
Principal payments of long-term debt			(30,412)						(13,001)
Payment of treasury stock purchase obligation			—						(569)
Proceeds from sale of stock			—						3
Net cash provided by (used in) financing activities			41,887						(13,567)
Net change in cash and cash equivalents			67,697						(18,518)
Cash and cash equivalents:
Beginning of period			80,619						99,137
End of period			$	148,316					$	80,619
Supplemental cash flow information:
Cash paid for interest			$	2,041					$	2,639
Cash paid for income taxes			$	9,905					$	9,119
Cash paid for operating lease liabilities			$	3,228					$	—
Non-cash items:
Operating lease right-of-use assets obtained in exchange for operating lease liabilities			$	1,516					$	—
Property, plant and equipment financed with accounts payable			$	2,761					$	904

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Reconciliation of Non-GAAP Financial Measures

Adjusted EBITDA represents net income before, as applicable from time to time, (i) interest expense, net, (ii) provision (benefit) for income taxes, (iii) depreciation, depletion and amortization of long-lived assets, (iv) equity-based compensation expense, (v) loss on extinguishment of debt and (vi) certain management fees and expenses, and excludes income recognized in connection with a legal settlement between certain of the Company’s subsidiaries and a third party that did not directly relate to the Company’s business and that the Company does not expect to reoccur. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of revenues for each period. Adjusted EBITDA and Adjusted EBITDA Margin are supplemental measures of our operating performance that are neither required by, nor presented in accordance with, GAAP. These measures should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP as an indicator of our operating performance. Management uses Adjusted EBITDA and Adjusted EBITDA Margin as key performance indicators, and we believe they are measures frequently used by securities analysts, investors and other parties to evaluate companies in our industry. These measures have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of our results as reported under GAAP.

Our calculation of Adjusted EBITDA and Adjusted EBITDA Margin may not be comparable to similarly named measures reported by other companies. Potential differences may include differences in capital structures, tax positions and the age and book depreciation of intangible and tangible assets.

The following tables present a reconciliation of net income, the most directly comparable measure calculated in accordance with GAAP, to Adjusted EBITDA, and the calculation of Adjusted EBITDA Margin for each of the periods presented:

Construction Partners, Inc.

Net Income to Adjusted EBITDA Reconciliation

Fiscal Year Ended September 30, 2020 and 2019

(in thousands, except percentages)

						For the Fiscal Year Ended September 30,
						2020						2019
Net income						$	40,297					$	43,121
Interest expense, net						3,113						1,861
Provision for income taxes						12,760						13,909
Depreciation, depletion and amortization of long-lived assets						39,301						31,231
Equity-based compensation expense						1,570						957
Management fees and expenses (1)						1,403						1,252
Adjusted EBITDA						$	98,444					$	92,331
Revenues						$	785,679					$	783,238
Adjusted EBITDA Margin						12.5%						11.8%

(1) Reflects fees and reimbursement of certain out-of-pocket expenses under a management services agreement with an affiliate of SunTx Capital Partners, the Company’s controlling stockholder.

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Construction Partners, Inc.

Net Income to Adjusted EBITDA Reconciliation

Fiscal Year 2021 Outlook

(in thousands)

						For the Fiscal Year Ending September 30, 2021
						Low						High
Net income						$	42,000					$	46,500
Interest expense, net						2,500						2,700
Provision for income taxes						14,000						15,600
Depreciation, depletion and amortization of long-lived assets						47,600						50,200
Equity-based compensation expense						1,570						1,600
Management fees and expenses (1)						1,330						1,400
Adjusted EBITDA						$	109,000					$	118,000

(1) Reflects fees and reimbursement of certain out-of-pocket expenses under a management services agreement with an affiliate of SunTx Capital Partners, the Company’s controlling stockholder.