Sterling Infra Stock Price, News & Analysis

Sterling Infrastructure (NASDAQ: STRL) reported strong Q4 and full-year 2024 results, with Q4 revenues reaching $498.8 million (+3%) and gross margin improving to 21.4%. Q4 net income surged to $113.2 million ($3.64 per diluted share), though adjusted net income was $45.5 million ($1.46 per diluted share) excluding one-time gains.

For full-year 2024, revenue grew 7%, with net income of $257.5 million ($8.27 per diluted share) and adjusted net income of $189.9 million ($6.10 per diluted share). The company generated $497.1 million in operating cash flow and ended with $664.2 million in cash.

The E-Infrastructure Solutions segment showed notable strength, with 50% operating income growth and expanding margins to 24.1%. Data center revenue increased over 50% year-over-year. For 2025, Sterling projects revenue of $2.00-2.15 billion, net income of $215-230 million, and adjusted EBITDA of $395-420 million.

Sterling Infrastructure (STRL) has announced its schedule for the release of its fourth quarter and full year 2024 financial results. The company will release these results on Tuesday, February 25, 2025, after market close.

A conference call hosted by Sterling's management will follow on Wednesday, February 26, 2025, at 9:00 am ET/8:00 am CT to discuss the results and the 2025 outlook. Investors can participate by dialing (800) 836-8184, with instructions to call ten minutes before the scheduled start.

The company will also post a slide presentation on their website (www.strlco.com) in the Events & Presentations section of the Investor Relations tab. A simultaneous webcast will be available on the company's website, and for those unable to attend live, the conference call webcast will be archived on Sterling's website for thirty days.

Sterling Infrastructure (STRL) announced an amendment to its Road and Highway Builders, (RHB) Operating agreement on December 31, 2024. While the amendment doesn't affect RHB's contribution to Sterling's consolidated net income, it changes how RHB results are reported under GAAP. Sterling has held a 50% ownership in RHB since 2012, with Rich Buenting owning the other 50%.

The amendment modifies succession planning and introduces four alternatives in case of Buenting's death or disability. Under the new GAAP requirements, Sterling will no longer consolidate RHB's results. RHB's expected revenue of $230-240 million in 2024 will not be included in Sterling's consolidated revenue for 2025. Additionally, Sterling's consolidated backlog figures will exclude RHB's estimated backlog of $425-475 million as of December 31, 2024.

Sterling Infrastructure (NasdaqGS: STRL) has announced its participation in the upcoming UBS Global Industrials and Transportation Conference. The event will take place on December 3, 2024, at the Eau Resort & Spa in Palm Beach. Sterling's management team will be available for one-on-one meetings with investors during the conference. Interested parties can arrange meetings through their representatives or by contacting Noelle Dilts directly.

Sterling Infrastructure (NasdaqGS: STRL) announced that Thomas M. White will retire from the company's Board of Directors effective December 31, 2024. White, who has served as Board Chairman since December 2019, joined the Board in July 2018 and was a member of the Audit, Compensation & Talent Development, and Corporate Governance & Nominating Committees. The Corporate Governance & Nominating Committee is currently working to determine White's successor.

Sterling Infrastructure (NasdaqGS: STRL) reported record third quarter 2024 results with a 6% revenue increase to $593.7 million, a 56% rise in net income to $61.3 million, and EBITDA up 42% to $100.8 million. Gross margins improved to 21.9%, and operating cash flows reached $322.8 million for the first nine months of 2024. The company's cash and cash equivalents totaled $648.1 million, and the combined backlog was $2.37 billion as of September 30, 2024. CEO Joe Cutillo highlighted significant growth in the E-Infrastructure Solutions segment, with operating income up 89% and a 90% increase in data center-related revenue. The Transportation Solutions segment saw 18% revenue growth. However, the Building Solutions segment experienced a 10% revenue decline. Sterling raised its full-year 2024 guidance, expecting revenue between $2.150 billion and $2.175 billion, net income of $180 million to $185 million, and EBITDA of $310 million to $315 million.

Sterling Infrastructure (STRL) has announced its participation in two upcoming investor conferences. The company will attend the Baird Global Industrial Conference on November 13-14, 2024, at The Ritz-Carlton, Chicago, with a presentation scheduled for November 14th from 10:15-10:45 AM CT. Additionally, Sterling will participate in the Southwest IDEAS Conference on November 20, 2024, at The Statler Dallas, presenting from 4:10-4:45 PM CT.

Management will conduct one-on-one meetings with investors at both events. The Southwest IDEAS Conference presentation will be available via webcast, and recordings will be accessible on Sterling's website for 90 days following the event.

Sterling Infrastructure (NasdaqGS: STRL) has announced its schedule for the 2024 third quarter financial results release. The company will issue results on Wednesday, November 6, 2024, after market close, followed by a conference call on Thursday, November 7, 2024, at 10:00 am ET/9:00 am CT.

Investors can join the call by dialing (800) 836-8184 and should call ten minutes before the scheduled start. A slide presentation will be available on Sterling's website in the Events & Presentations section. The call will also be available via webcast on www.strlco.com, with a 30-day archive period for those unable to attend live.

Sterling Infrastructure (NASDAQ: STRL) has announced its participation in the D. A. Davidson 23rd Annual Diversified Industrials & Services Conference on September 19, 2024, at the Four Seasons Hotel in Nashville, TN. The company's presentation is scheduled for 8:00-8:35 am ET.

Management will engage in a fireside chat and host one-on-one meetings with investors. Interested parties can access the webcast through Sterling's investor relations website. The presentation will be archived for 90 days after the live event.

Investors wishing to attend should contact their representatives or Noelle Dilts at noelle.dilts@strlco.com. This conference provides an opportunity for Sterling to showcase its business to potential investors and industry professionals.