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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, Inc. (NASDAQ: STRL) announced new awards of $215 million in its E-Infrastructure Solutions segment for Q2 2022, marking a significant growth in a fast-expanding market. The segment, which includes large-scale site development for warehouses and data centers, is benefiting from strong demand driven by e-commerce and supply chain challenges. CEO Joe Cutillo highlighted increased warehouse projects and ongoing need for data centers, positioning Sterling favorably for the remainder of 2022.
Sterling Infrastructure plans to release its Q2 2022 financial results on August 1, 2022, after market close. A conference call is scheduled for August 2, 2022, at 9:00 am ET, featuring management discussing the results and 2022 outlook. Participants can join by calling (201) 493-6744 or (877) 445-9755. A slide presentation will be available on their website. Sterling operates in three segments: E-Infrastructure, Transportation, and Building Solutions, focusing on advanced infrastructure projects across multiple states.
Sterling Infrastructure, Inc. (STRL) announced that CEO Joe Cutillo and CFO Ronald Ballschmiede will present at the Sidoti Summer Small Cap Virtual Conference on June 16, 2022, starting at 11:30 AM ET. Management is available for one-on-one meetings throughout the day. A live webcast of the presentation will occur from 11:30 AM to 12:00 PM ET, with an archived recording available for 90 days on the company's website. Sterling specializes in E-Infrastructure, Building, and Transportation Solutions across the U.S., focusing on sustainable operations.
Sterling Construction Company, Inc. will change its name to Sterling Infrastructure, Inc., effective June 1, 2022, to align with its evolution as a leader in E-Infrastructure, Building, and Transportation Solutions. The company reported significant growth, increasing net income from a $9.2 million loss in 2016 to $62.6 million in 2021, with annual growth rates of 18% for revenue and 66% for EBITDA over six years. The new branding reflects its diversified services and commitment to sustainable infrastructure development.
Sterling Construction Company (NASDAQ: STRL) announces that CEO Joe Cutillo and CFO Ronald Ballschmiede will present at the Stifel 2022 Cross Sector Insight Conference on June 8, 2022, at 2:25 PM EDT in Boston. Management will hold one-on-one meetings throughout the day, and attendees can contact Stifel representatives or Jeremy Hellman via email to schedule. A live webcast of the presentation will occur from 2:25 PM to 2:55 PM EDT, with an archived version available for 90 days on the company's investor relations website.
About Sterling: Specializes in E-Infrastructure, Building, and Transportation Solutions across the U.S.
Sterling Construction Company (NASDAQ: STRL) announced participation in the KeyBanc Industrial & Basic Materials Conference on June 2, 2022, at the Intercontinental Boston Hotel. CEO Joe Cutillo and CFO Ronald Ballschmiede will represent the company, which specializes in heavy civil, specialty services, and residential construction across the U.S., including significant infrastructure projects. One-on-one meetings can be scheduled by contacting KeyBanc representatives.
Sterling Construction Company (STRL) reported strong first-quarter 2022 results, with total revenue reaching $410.3 million, a 30% increase year-over-year. Net income soared by 82% to $19.3 million, translating to $0.64 per diluted share. EBITDA also rose by 33% to $39.8 million. The company’s backlog grew by 2% to $1.53 billion. CEO Joe Cutillo expressed confidence in ongoing growth due to strategic synergies from the Petillo acquisition, despite recognizing challenges posed by inflation and supply chain issues. Full-year guidance anticipates revenue between $1.825 billion and $1.875 billion.
Sterling Construction Company, Inc. (NASDAQ: STRL) will announce its 2022 first quarter financial results on May 2, 2022, after market close. A conference call will be held on May 3, 2022, at 9:00 am ET to discuss these results and provide a company outlook. Interested participants can join by calling (201) 493-6744 or (877) 445-9755. A slide presentation will be posted on the company's website. Sterling operates in Transportation, E-Infrastructure, and Building Solutions sectors across the U.S., focusing on sustainable infrastructure development.
Sterling Construction Company (NasdaqGS: STRL) announced new awards worth $278 million in its E-Infrastructure Solutions segment for Q1 2022. This segment, focused on large-scale site development for e-commerce and data centers, is the company's fastest-growing area. CEO Joe Cutillo highlighted strong demand from blue-chip clients and emphasized strategic growth opportunities in new geographies. Recent acquisitions have strengthened Sterling's market position, enabling them to expand capacity and improve customer-centric solutions.
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