An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Sterling Awarded Specialty Services Projects Totaling $152 Million During the Third Quarter of 2021
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
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.
Positive
Awarded projects worth $152 million in Q3 2021.
Strong demand in E-Infrastructure segment.
Acquisition of new large customers expanding ecommerce operations.
Negative
None.
THE WOODLANDS, Texas--(BUSINESS WIRE)--
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that our Specialty Services segment was awarded projects totaling $152 million during the third quarter of 2021. These projects included data centers, ecommerce, distribution centers, industrial warehouses, and multi-family residential facilities.
“We continue to see very strong end-market demand in this segment especially around E-Infrastructure which includes large data and distribution centers. In addition to our core E-Infrastructure customers, we began adding new large customers in the quarter that are expanding their Ecommerce efforts. These large-scale projects demand high-speed, high-quality execution, which enables us to differentiate ourselves from others,” stated Joe Cutillo, Sterling’s CEO. “These new wins in the quarter will enable us to finish 2021 strong and have a robust start to 2022.”
Sterling Construction Company, Inc. operates through a variety of subsidiaries within three segments specializing in Heavy Civil, Specialty Services and Residential projects in the United States (the “U.S.”), primarily across the southern U.S., the Rocky Mountain States, California and Hawaii, as well as other areas with strategic construction opportunities. Heavy Civil includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater and storm drainage systems. Specialty Services projects include site development activities, foundations for multi-family homes, parking structures and other commercial concrete projects. Residential projects include concrete foundations for single-family homes. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life.
Joe Cutillo, CEO, “We build and service the infrastructure that enables our economy to run, our people to move and our country to grow.”
This press release includes certain statements that fall within the definition of “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties, including overall economic and market conditions, federal, state and local government funding, competitors’ and customers’ actions and weather conditions, which could cause actual results to differ materially from those anticipated, including those risks identified in the Company’s filings with the Securities and Exchange Commission. Accordingly, such statements should be considered in light of these risks. Any prediction by the Company is only a statement of management’s belief at the time the prediction is made. There can be no assurance that any prediction once made will continue thereafter to reflect management’s belief, and the Company does not undertake to update publicly its predictions or to make voluntary additional disclosures of nonpublic information, whether as a result of new information, future events or otherwise.
