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 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.
Sterling Construction Company, Inc. (NASDAQ: STRL) has elected Julie Dill to its Board of Directors, expanding the Board to eight members. Effective immediately, Dill will also serve on the Audit Committee and the Compensation and Talent Development Committee, with her term ending at the next Annual Meeting of Stockholders. Dill brings 36 years of executive experience from companies such as Shell and Duke Energy, holding various leadership roles, including Chief Communications Officer. CEO Joe Cutillo expressed confidence in her ability to provide valuable insights to the Board.
Sterling Construction Company (NASDAQ: STRL) announces that CEO Joe Cutillo and CFO Ronald Ballschmiede will present at the Sidoti August Microcap Conference on August 19, 2021, at 11:30 AM ET. Management will be available for one-on-one meetings throughout the day. Interested parties can contact Sidoti’s institutional sales representative for scheduling. A live webcast of the presentation can be accessed at this link, with an archived recording available for 90 days on their website.
Sterling Construction Company (NasdaqGS: STRL) reported a strong second quarter 2021, with revenues of $401.7 million, up from $400.0 million in Q2 2020. Net income rose to $20.1 million, with diluted EPS at $0.69. The company’s backlog increased to $1.57 billion, and combined backlog reached a record margin of 12.2%. Sterling also raised its full-year net income guidance to $55-58 million. Despite challenges from inflation and supply chain issues, all segments showed strong bottom-line results, reinforcing the company's positive outlook and liquidity improvement.
Sterling Construction Company, Inc. (NasdaqGS: STRL) announced a substantial achievement, securing projects worth $159 million in the second quarter of 2021 within its Specialty Services segment. The portfolio includes important projects such as distribution centers, data centers, and industrial warehouses. CEO Joe Cutillo expressed optimism regarding market growth and the company's geographic expansion, underscoring their competitive advantage in handling complex projects. These developments contribute to a robust backlog, positioning Sterling for sustained growth in the latter half of 2021 and beyond.
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