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 (NasdaqGS: STRL) announced a $10.3 million contract awarded to its subsidiary, J. Banicki Construction, by the City of Phoenix Aviation Department. This contract focuses on the reconstruction of Terminal 4's north apron at Phoenix Sky Harbor International Airport, marking the final phase of a $71 million project initiated in September 2015. The scope includes removing ASR-affected pavement, excavating native material, and adjusting drainage systems. The project highlights Sterling's expertise in aviation infrastructure, crucial for diversifying its project mix.
Sterling Construction Company (NasdaqGS: STRL) announced that its subsidiary, Road and Highway Builders, LLC, secured a $135 million contract from the City of Los Angeles. The contract involves constructing the North Haiwee Dam No. 2 in Inyo County, California. The project entails mining one million cubic yards of material and drilling over 13,000 cement shafts for the dam's footing. It aims to enhance the seismic reliability of the North Haiwee Reservoir and protect against flooding. Construction is set to begin in May 2021 and will take approximately four and a half years to complete.
Sterling Construction Company (NasdaqGS: STRL) will release its fourth quarter and full year 2020 financial results on March 2, 2021, after market close. A conference call is scheduled for March 3, 2021, at 9:00 am ET to discuss these results and provide a 2021 outlook. Interested participants can join by calling (201) 493-6744 or (877) 445-9755. A slide presentation will be available on their website during the call. Sterling specializes in heavy civil, specialty services, and residential construction projects primarily across the southern U.S., Rocky Mountain States, California, and Hawaii.
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Sterling Construction Company (NasdaqGS: STRL) announced its joint venture with SEMA, selected by Colorado's Department of Transportation for a $35.7 million rehabilitation project on I-25. Sterling's share of this project is approximately $18 million, with work commencing in December 2020 and expected completion by Q2 2023. The project includes replacing and widening 12 bridges and enhancing traffic flow in a high-traffic area. CEO Joe Cutillo emphasized the importance of this project for improving safety and congestion along the I-25 corridor.
Sterling Construction Company (NasdaqGS: STRL) announced that its subsidiary, Road and Highway Builders, LLC, has been awarded two asphalt reconstruction projects by the Nevada Department of Transportation, valued at a total of approximately $35.1 million. The first project, costing $17.1 million, involves 22 miles of asphalt reconstruction on U.S. Route 95 North near Beatty, while the second project, approximately $18.0 million, covers 25 miles from Fallon to Schurz. Work is expected to begin mid-October and conclude by Q2 2021.
Sterling Construction Company reported robust third-quarter 2020 financial results, achieving revenues of $383.5 million, up from $291.7 million in Q3 2019. Gross margin increased to 13.0% while net income soared to $15.2 million, compared to $8.0 million a year prior. EBITDA rose to $36.7 million from $15.4 million. Cash and cash equivalents grew to $72.6 million, and total debt decreased to $392.7 million. The backlog reached a record $1.24 billion, reflecting strong demand across segments. The company maintains its full-year 2020 guidance, projecting revenues between $1.415 billion and $1.430 billion.
Sterling Construction Company (NasdaqGS: STRL) will release its third quarter 2020 financial results on November 2, 2020, after market close. A conference call is scheduled for November 3, 2020, at 9:00 am ET to discuss these results and the company's outlook. Participants can join the call via telephone or through a webcast available on the company’s website. Sterling operates in the construction industry, focusing on heavy civil, specialty services, and residential projects across the U.S., primarily in southern states and California.