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.
Sterling Infrastructure was awarded a $70 million design/build contract for the Yellowstone River Bridge Project, beginning in April 2023 and expected to complete by the end of 2026. This project aims to replace a 60-year-old bridge and is funded by the Federal Highway Administration. The new bridge will include specialized features due to its location in a geothermal zone. CEO Joe Cutillo emphasized the project reflects a strategic shift towards sophisticated design-build work in the company’s Transportation Solutions segment. The Yellowstone project is set to enhance infrastructure while minimizing environmental disruption.
Sterling Infrastructure, Inc. (NASDAQ: STRL) is set to release its financial results for the first quarter of 2023 on May 1, 2023, after market close. A conference call for investors will take place on May 2, 2023, at 9:00 AM ET to discuss the results and 2023 outlook. Interested participants can join by calling (201) 493-6744 or (877) 445-9755. A slide presentation will be available on the Sterling website in the Events & Presentations section. Sterling operates in three segments: E-Infrastructure, Transportation, and Building Solutions, focusing primarily on the Southern, Northeastern, Mid-Atlantic, and Rocky Mountain regions, along with Hawaii. CEO Joe Cutillo emphasized the company's commitment to building infrastructure that supports the economy and enhances community life.
Sterling Infrastructure, Inc. (NASDAQ: STRL) announced its E-Infrastructure Solutions segment secured $325 million in new awards in Q1 2023, marking the largest project in company history by Hyundai Engineering America. This segment focuses on site development for industrial facilities, data centers, and e-commerce centers, and is their fastest-growing sector. CEO Joe Cutillo noted strong demand for next-gen industrial facilities supporting EV and solar industries, while the data center market continues to thrive. These achievements underscore Sterling's robust market position and commitment to sustainable construction trends throughout 2023.
Sterling Infrastructure, Inc. (STRL) has announced the appointment of Noelle Dilts as Vice President of Investor Relations and Corporate Strategy. Noelle brings 19 years of experience from Stifel Financial, where she covered specialty engineering, construction, and advanced manufacturing. Her expertise will help guide Sterling’s strategic focus and enhance investor relations.
CEO Joe Cutillo praised Noelle's knowledge and reputation, emphasizing her role in Sterling's growth as a leading infrastructure service provider. Noelle expressed excitement about contributing to Sterling’s ongoing transformation and engaging with the investment community.
Sterling operates across three segments: E-Infrastructure, Transportation, and Building Solutions, focusing on sustainable practices and community engagement.
Sterling Infrastructure, Inc. (NASDAQ: STRL) announced its participation in the Sidoti Small-Cap Virtual Conference on March 22, 2023. CEO
A live webcast of the presentation can be accessed at this link, with an archived recording available for 90 days post-event on the company's website www.strlco.com.
Sterling Infrastructure announced robust 2022 financial results, reporting revenues of $448.6 million for Q4, up 26% year-over-year. Full-year revenue increased 25% to $1.9 billion. Net income for 2022 reached $106.5 million, or $3.48 per diluted share, compared to $62.6 million in 2021. The company saw significant EBITDA growth, with EBITDA up 51% for the year. Sterling's optimism for 2023 includes guidance of $1.9 billion to $2.0 billion in revenue and net income between $104 million to $110 million. The firm highlighted a record backlog of $1.41 billion, supporting future growth.
Sterling Infrastructure, Inc. (NASDAQ: STRL) announced that its subsidiary, Plateau, secured a major site development project covering over 600 acres for Hyundai Engineering America in Georgia, linked to the state's booming electric vehicle (EV) sector. This project is part of the largest economic development initiatives in Georgia’s history. CEO Joe Cutillo emphasized the company’s capability to handle demanding projects, positioning Sterling to benefit from the growing EV and chip manufacturing markets along the East Coast. The company operates in various sectors, focusing on sustainability and responsible infrastructure development.
Sterling Infrastructure, Inc. (STRL) announced plans to release its financial results for the fourth quarter and full year 2022 on February 27, 2023, after market close. A conference call will take place on February 28, 2023, at 9:00 am ET to discuss these results and the company's outlook for 2023. Participants can join by calling (201) 493-6744 or (877) 445-9755. The call will be available for archiving on Sterling's website for 30 days. The company focuses on E-Infrastructure, Transportation, and Building Solutions primarily in the U.S. and emphasizes sustainability in its operations.
Sterling Infrastructure reported new awards totaling $260 million in its E-Infrastructure Solutions segment for Q4 2022, marking a significant growth phase for the company. This segment is identified as the fastest-growing, driven by increasing demand for large-scale site development services for warehouses, data centers, and mixed-use facilities. CEO Joe Cutillo highlighted strong market demand, emphasizing Sterling's reliable execution for blue-chip clients. The company is well-positioned for sustainable construction trends in 2023.
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