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. (STRL) is a U.S. construction and infrastructure company with operations organized into E‑Infrastructure Solutions, Transportation Solutions and Building Solutions. Company news frequently highlights how these segments contribute to large‑scale site development, mission‑critical electrical work, transportation infrastructure and residential and commercial concrete projects across the Southern, Northeastern, Mid‑Atlantic and Rocky Mountain regions and the Pacific Islands.
News releases for STRL often cover quarterly financial results, updated full‑year guidance and commentary from management on segment performance. E‑Infrastructure Solutions features prominently, with updates on revenue growth, margins and awards tied to data centers, semiconductor fabrication, manufacturing, distribution centers, warehousing and power generation. Transportation Solutions news focuses on highways, roads, bridges, airports, ports, rail and storm drainage projects, while Building Solutions updates reflect trends in foundations, concrete work, plumbing services and residential surveys.
Investors can also find announcements about strategic actions such as the agreement to acquire and subsequent completion of the CEC Facilities Group transaction, which expands Sterling’s mission‑critical electrical contracting capabilities within E‑Infrastructure. Additional news items include stock repurchase authorizations, board appointments, and participation in investor conferences where management holds one‑on‑one meetings and presents the company’s outlook.
This STRL news page brings together these types of updates so readers can follow how Sterling’s E‑Infrastructure, Transportation and Building segments are evolving, how acquisitions like CEC are integrated, and how management describes the company’s role in building and servicing infrastructure that supports the economy, mobility and long‑term growth.
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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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 $7.6 million. This transaction facilitates vertical integration and expands Sterling's service offerings in soil stabilization for e-commerce projects, including fulfillment centers and data centers. Kimes has been a significant customer of Sterling, enhancing operational synergy. The deal is expected to broaden Sterling's geographic footprint in the Southeast, complementing its existing infrastructure services.
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.