STOCK TITAN
  1. Home
  2. News
  3. STRL

Sterling Infrastructure, Inc. - STRL STOCK NEWS

Welcome to our dedicated page for Sterling Infrastructure news (Ticker: STRL), a resource for investors and traders seeking the latest updates and insights on Sterling Infrastructure stock.

Sterling Infrastructure, Inc. (NasdaqGS: STRL) is a premier heavy civil construction company specializing in building and reconstruction projects across the United States. With a focus on transportation and water infrastructure, Sterling operates through three main segments: Transportation Solutions, E-Infrastructure Solutions, and Building Solutions.

Transportation Solutions encompasses projects such as highways, roads, bridges, airfields, ports, and light rail. Recent projects include a $155 million contract for runway extension at the Lihue Airport in Kauai, Hawaii, and two highway projects in Nevada totaling $78 million.

E-Infrastructure Solutions provide advanced site development services for large-scale projects like data centers, e-commerce distribution centers, warehousing, and energy infrastructures. Notable achievements include a $100 million data center project in the southeastern U.S. and significant contributions to the manufacturing and power generation sectors.

Building Solutions focuses on residential and commercial foundations, including single-family homes, multi-family units, parking structures, and elevated slabs. Sterling also excels in plumbing services for new residential builds. The segment has experienced considerable growth, with its residential markets remaining robust despite a slight decline in the commercial sector.

Financially, Sterling continues to exhibit strong performance. For 2023, the company reported a revenue increase of 11.5% over the previous year and net income of $138.7 million. The first quarter of 2024 saw a 9% revenue growth, with the company's backlog reaching over $2.35 billion, reflecting increasing demand in data center and aviation markets.

Under the leadership of CEO Joe Cutillo, Sterling has committed to sustainability and responsible operations. This commitment is evident in their strategic initiatives and investments in advanced technologies and innovative solutions. The company recently appointed Sharon Villaverde as Vice President of Finance, further strengthening its executive team.

For detailed financial information, recent news, and updates on Sterling Infrastructure, Inc., visit their official website or contact their Investor Relations.

News

Sterling Announces a $155 Million Aviation Award

Rhea-AI Summary
Sterling Infrastructure, Inc. (NasdaqGS: STRL) subsidiary, Road and Highway Builders, LLC, secures a $155 million contract for runway extension at Lihue Airport in Hawaii as part of the state's Airport Modernization Program. The project includes excavation, drain pipe installation, and asphalt work, expected to start in April 2024 with a two-and-a-half-year duration.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.37%
Tags
none
-
News

Sterling Announces $78 Million in Major Nevada Highway Project Awards

Rhea-AI Summary
Sterling Infrastructure, Inc. (STRL) has announced that its subsidiary, Road and Highway Builders, LLC, has been awarded two highway projects totaling $78 million by the Nevada Department of Transportation. The projects involve highway widening, reconstruction, bridge construction, and new drainage systems. CEO Joe Cutillo expressed satisfaction with the selection, highlighting the strategic alignment with Sterling's aggregate pit locations in Nevada.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.37%
Tags
none
-
News

Sterling Schedules 2023 Fourth Quarter and Full Year Release and Conference Call

Rhea-AI Summary
Sterling Infrastructure, Inc. (STRL) will release its financial results for Q4 and full year 2023 on Feb 26, 2024, followed by a conference call on Feb 27, 2024, to discuss results and the 2024 outlook. Interested parties can dial (800) 836-8184 to participate.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.61%
Tags
none
News

Sterling Announces Planned Retirement of Chief Financial Officer Ronald Ballschmiede

Rhea-AI Summary
Sterling Infrastructure, Inc. (STRL) CFO Ronald Ballschmiede plans to retire in 2024, with a succession plan in place. CEO Joe Cutillo praises Ron's contributions and assures a smooth transition.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4%
Tags
none
-
News

Sterling to Participate in Upcoming Virtual Investor Conference

Rhea-AI Summary
Sterling Infrastructure, Inc. (STRL) to participate in Sidoti Virtual Investor Conference on January 18, 2024. Management will present and host one-on-one meetings with investors. Webcast link available on company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.56%
Tags
conferences
-
News

Sterling Announces Extension of Credit Facility

Rhea-AI Summary
Sterling Infrastructure, Inc. (NasdaqGS: STRL) has announced an 18-month extension of its 2019 credit agreement, with a $425 million credit facility consisting of a term loan and a revolving credit facility. As of September 30, 2023, $347.4 million in borrowings were outstanding under the term loan, the revolving credit facility was undrawn, and cash and cash equivalents totaled $409.4 million. The credit agreement amendment was led by BMO Capital Markets Corp. and BMO Bank N.A. Sterling's CEO, Joe Cutillo, expressed satisfaction with the support and confidence of existing lenders and highlighted the capital flexibility provided by the extension to facilitate organic growth and M&A opportunities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.08%
Tags
none
News

Sterling Announces Authorization of a $200 Million Stock Repurchase Program

Rhea-AI Summary
Sterling Infrastructure, Inc. (NasdaqGS: STRL) has authorized a program to repurchase up to $200 million of its outstanding common stock over the next 24 months. The share repurchase program reflects the company's confidence in its outlook for 2024 and beyond, with a focus on maximizing shareholder value through prudent capital allocation decisions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.51%
Tags
buyback
-
News

Sterling Acquires Texas-Based Professional Plumbers Group

Rhea-AI Summary
Sterling Infrastructure, Inc. (NasdaqGS: STRL) Acquires Professional Plumbers Group, Inc. in a $50 Million Deal. The acquisition includes an earnout opportunity, annual revenues of $50 to $55 million, and a strong margin profile. PPG provides plumbing services for residential home builders in the Dallas area, expanding Sterling's suite of residential services.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.25%
Tags
acquisition
-
News

Sterling to Participate in Upcoming Investor Conferences

Rhea-AI Summary
Sterling Infrastructure, Inc. (NasdaqGS: STRL) announced its participation in two upcoming investor conferences, with a company presentation scheduled for the 15th Annual Southwest Ideas Conference on November 15, 2023, and one-on-one meetings available at the UBS Industrials Conference on November 29, 2023. Webcasts of the presentations will be accessible via the company's website, and archived recordings will be available for 90 days following the live webcasts.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.32%
Tags
conferences
News

Sterling Reports Third Quarter 2023 Results and Increases 2023 Full Year Guidance

Rhea-AI Summary
Sterling Infrastructure, Inc. (NasdaqGS: STRL) announced its financial results for Q3 2023. Revenues increased by 13.7% to $560.3 million. Gross margin improved to 16.4%. Net income rose by 28% to $39.4 million, with diluted EPS increasing by 25% to $1.26. EBITDA grew by 15.7% to $71.2 million. Cash flows from operations for the nine months ended September 30, 2023, totaled $331.2 million. Backlog increased by 42% to $2.01 billion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-15.91%
Tags
earnings

FAQ

What is the current stock price of Sterling Infrastructure (STRL)?

The current stock price of Sterling Infrastructure (STRL) is $141.11 as of January 29, 2025.

What is the market cap of Sterling Infrastructure (STRL)?

The market cap of Sterling Infrastructure (STRL) is approximately 4.5B.

What are the main business segments of Sterling Infrastructure, Inc.?

Sterling operates through three main segments: Transportation Solutions, E-Infrastructure Solutions, and Building Solutions.

What recent projects has Sterling Infrastructure completed?

Recently, Sterling has been awarded projects such as a $155 million runway extension at Lihue Airport in Hawaii and two highway projects in Nevada totaling $78 million.

How has Sterling Infrastructure performed financially?

For 2023, Sterling reported an 11.5% increase in revenue and a net income of $138.7 million. The first quarter of 2024 saw a 9% revenue growth.

Who is the current CEO of Sterling Infrastructure, Inc.?

Joe Cutillo is the current CEO of Sterling Infrastructure, Inc.

What is Sterling's commitment to sustainability?

Sterling is committed to sustainability by operating responsibly to safeguard and improve society's quality of life.

What are some of the key areas of focus for E-Infrastructure Solutions?

E-Infrastructure Solutions focus on large-scale site development for data centers, e-commerce distribution centers, warehousing, manufacturing, and energy infrastructures.

What kind of projects does the Building Solutions segment handle?

Building Solutions handles residential and commercial concrete foundations, including single-family and multi-family homes, parking structures, elevated slabs, and plumbing services for new residential builds.

What is the significance of Sterling's recent appointments?

The recent appointment of Sharon Villaverde as Vice President of Finance is significant as it strengthens Sterling's executive team, bringing in extensive experience in finance and accounting.

Where does Sterling primarily operate?

Sterling operates primarily across the Southern, Northeastern, Mid-Atlantic, Rocky Mountain regions, and Hawaii.

How can I get more information about Sterling Infrastructure, Inc.?

For more detailed information, visit Sterling’s official website or contact their Investor Relations.
Stock STRL logo
Sterling Infrastructure, Inc.

Nasdaq:STRL

STRL Rankings

#1383 Ranked by Market Cap
N/A Ranked by Dividends

STRL Stock Data

4.46B
29.80M
2.99%
87.46%
3.96%
Engineering & Construction
Heavy Construction Other Than Bldg Const - Contractors
Link
United States of America
THE WOODLANDS