Welcome to our dedicated page for Sterling Infra news (Ticker: STRL), a resource for investors and traders seeking the latest updates and insights on Sterling Infra 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 Construction Company, Inc. (STRL) announced strong financial results for Q4 and full year 2021. Fourth-quarter revenue reached $401.3 million, a 15.6% increase from the previous year. Net income rose 87.3% to $10.9 million, or $0.37 per diluted share. For the full year, revenue was $1.58 billion, up 10.8%, and net income increased to $62.6 million. The company provided 2022 guidance of $1.825 to $1.875 billion in revenue and net income of $83 to $89 million. Backlog grew to $1.49 billion.
Sterling Construction Company, Inc. (STRL) will release its fourth-quarter 2021 financial results on February 28, 2022, after market close. A conference call to discuss the results and outlook for 2022 will take place on March 1, 2022, at 9:00 am ET. Interested parties can join by calling (201) 493-6744 or (877) 445-9755 and are encouraged to log in early for the presentation. A webcast will also be available on the company’s website, along with a slide presentation in the Investor Relations section.
Sterling Construction Company (STRL) announced that its Specialty Services segment secured projects worth $160 million in Q4 2021. The segment focuses on E-Infrastructure for data centers, distribution centers, and industrial developments, now comprising a backlog of $433 million to be completed in 2022. CEO Joe Cutillo emphasized the company's strategic transformation and growing leadership in key East Coast markets. These achievements signal a strong finish to 2021 and a promising start for 2022.
Sterling Construction Company, Inc. (STRL) has completed the acquisition of Petillo Incorporated for $195 million, consisting of $175 million in cash and shares valued at $20 million. This acquisition enhances Sterling's position as a leading specialty site development firm, particularly for e-commerce clients on the East Coast. Petillo reported approximately $212 million in revenue for 2021, and the deal is expected to be accretive immediately. Although the pro forma leverage ratio will increase from 2.14 to 2.35, it remains within target limits, ensuring sufficient liquidity.
Sterling Construction Company, Inc. (STRL) has acquired Kimes & Stone for an all-cash purchase of
Sterling Construction Company (NasdaqGS: STRL) reported strong third quarter 2021 financial results with revenues of $463.4 million, up from $383.5 million in 2020. Net income rose to $21.1 million from $15.2 million, and diluted EPS increased to $0.72 compared to $0.54. The company also announced a raised full-year revenue guidance of $1.510 billion to $1.520 billion and net income guidance of $61 million to $64 million. Operating cash flow was a record $135.7 million year-to-date, with significant debt repayments of $44.2 million.
Sterling Construction Company (NASDAQ: STRL) announced significant project wins totaling $152 million in its Specialty Services segment during Q3 2021. The projects comprise data centers, ecommerce facilities, distribution centers, and more, driven by strong demand in the E-Infrastructure market. CEO Joe Cutillo highlighted new large customers expanding their ecommerce operations, emphasizing the company's ability to deliver high-speed, quality execution. This momentum positions Sterling for a robust finish to 2021 and a strong start to 2022.
Sterling Construction Company, Inc. (STRL) will release its third quarter 2021 financial results on November 2, 2021, after market closing. A conference call is scheduled for November 3, 2021, at 9:00 am ET to discuss these results and the company’s outlook. Interested participants can join the call by dialing (201) 493-6744 or (877) 445-9755. A slide presentation will be available on the company's website. Sterling operates in Heavy Civil, Specialty Services, and Residential segments across the U.S., focusing on sustainability and quality construction.
Sterling Construction Company (NASDAQ: STRL) announced its subsidiary, Ralph L. Wadsworth Construction Company, has secured a $40.4 million contract for airfield concrete paving at Salt Lake City International Airport. This project is part of the larger $4.1 billion Terminal Redevelopment Program aimed to enhance passenger experience. Construction is set to start in February 2022 and is expected to accommodate 34 million passengers annually. CEO Joseph Cutillo highlighted the company's strategic focus on sustainable public works projects.
Sterling Construction Company (STRL) announced that CEO Joe Cutillo and CFO Ronald Ballschmiede will participate in the D.A. Davidson Diversified Industrials and Services Virtual Conference on September 22, 2021, presenting at 2:45 PM ET. The event will include virtual meetings with investors. A live webcast of the presentation will be available, with an archived recording accessible for 90 days on the company's investor relations website. Sterling operates in Heavy Civil, Specialty Services, and Residential segments, primarily across the southern U.S., the Rocky Mountains, California, and Hawaii.
FAQ
What is the current stock price of Sterling Infra (STRL)?
What is the market cap of Sterling Infra (STRL)?
What are the main business segments of Sterling Infrastructure, Inc.?
What recent projects has Sterling Infrastructure completed?
How has Sterling Infrastructure performed financially?
Who is the current CEO of Sterling Infrastructure, Inc.?
What is Sterling's commitment to sustainability?
What are some of the key areas of focus for E-Infrastructure Solutions?
What kind of projects does the Building Solutions segment handle?
What is the significance of Sterling's recent appointments?
Where does Sterling primarily operate?
How can I get more information about Sterling Infrastructure, Inc.?
