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 its subsidiary, J. Banicki Construction, has received a $10.5 million contract from the City of Phoenix and FAA for apron reconstruction at Phoenix Sky Harbor International Airport's Terminal 4. This contract is part of a larger $71 million project initiated in 2015. The project aims to enhance aircraft ground traffic and safety by constructing around 48,000 square yards of concrete apron and related infrastructure. CEO Joe Cutillo highlighted the company's strong track record as a key factor in securing this contract.
Sterling Construction Company, Inc. (NasdaqGS: STRL) announced that its subsidiary, Road and Highway Builders, LLC, secured a $40 million contract from the Hawaii Department of Transportation. The project involves the reconstruction of 2.67 miles of Pali Highway on Oahu, focusing on full-depth reconstruction and minimizing commuter disruption. CEO Joe Cutillo emphasized the project's importance for traffic alleviation and noted RHB's experience in Oahu's challenging terrain. Sterling operates across diverse segments, including heavy civil projects, enhancing its strategic positioning in the construction market.
Sterling Construction Company (NasdaqGS: STRL) announced that its subsidiary, Ralph L. Wadsworth Construction, has been chosen by the Utah Department of Transportation to renew parts of I-80 and I-215. The project, starting in May 2021, will last approximately two years and includes replacing concrete pavement and bridge structures, widening lanes, and implementing Accelerated Bridge Construction (ABC) techniques. CEO Joe Cutillo emphasized the benefits of ABC in reducing traffic disruptions and enhancing safety. This work is crucial for improving transportation in rapidly growing areas of Salt Lake County.
Sterling Construction Company (NasdaqGS: STRL) reported robust financial results for Q4 and full year 2020. Q4 revenues reached $347.2 million, a slight increase from the previous year, with a gross margin of 13.4%, up from 9.7%. Full year revenues hit $1.4 billion, with net income attributable to common stockholders at $42.3 million, up from $39.9 million in 2019. The company generated $119.3 million in cash flow and reported a backlog of $1.18 billion. Looking ahead, STRL projects 2021 revenues between $1.46 billion and $1.49 billion.
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.