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 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.
Sterling Infrastructure (STRL) has announced the retirement of Charles R. Patton from its Board of Directors, effective September 1, 2024. Patton has served on the Board since 2013 and is a member of the Corporate Governance & Nominating Committee and the Compensation Committee. Thomas M. White, Chair of Sterling's Board, expressed gratitude for Patton's 11 years of service, highlighting his significant contributions and dedication to the company. White emphasized Patton's role in guiding Sterling through its transformation and growth, acknowledging his expertise and engagement. The Board extended well wishes to Patton for his retirement.
Sterling Infrastructure (NasdaqGS: STRL) has announced the appointment of Dan Govin as Chief Operating Officer (COO). Govin brings 30 years of experience in operations and leadership to Sterling, with a significant background in the energy infrastructure industry. He previously held the position of Regional President at Quanta Services and has an MBA from Rollins College.
In his new role, Govin will be responsible for leading the execution of Sterling's strategic and operational activities. CEO Joe Cutillo expressed confidence that Govin's strategic vision, successful track record of business growth, and history of operational excellence will be instrumental in shaping Sterling's future and delivering greater value to shareholders.
Sterling Infrastructure (NASDAQ: STRL) reported record second quarter 2024 results and raised full-year guidance. Key highlights include:
- Revenue increased 12% to $582.8 million
- Gross margin improved to 19.3% from 17.7%
- Net income rose 31% to $51.9 million, or $1.67 per diluted share
- EBITDA grew 18% to $87.0 million
- Combined backlog at quarter-end was $2.45 billion
The company raised its full-year 2024 guidance, now expecting:
- Revenue of $2.150-$2.225 billion
- Net income of $175-$180 million
- Diluted EPS of $5.60-$5.75
- EBITDA of $300-$310 million
CEO Joe Cutillo highlighted strong performance across segments, with E-Infrastructure Solutions showing significant margin expansion and Transportation Solutions delivering robust growth.
Sterling Infrastructure (NasdaqGS: STRL) has announced its plans to release second quarter 2024 financial results on Monday, August 5, 2024, after market close. The company will host a conference call on Tuesday, August 6, 2024, at 9:00 am ET/8:00 am CT to discuss the results and the 2024 outlook.
Interested parties can join the call by dialing (800) 836-8184. A slide presentation will be available on Sterling's website prior to the call. For those unable to attend live, a webcast will be accessible on the company's website and archived for thirty days.
Sterling Infrastructure (NasdaqGS: STRL) announced its participation in three upcoming investor conferences. The company will present at the Stifel 2024 Cross Sector Insight Conference on June 4, the William Blair 44th Annual Growth Stock Conference on June 5, and the 2024 Wells Fargo Industrials Conference on June 11. Each event will feature a company presentation and one-on-one investor meetings. Webcasts of the presentations will be accessible via the investor relations section of Sterling's website for 90 days post-event. Investors can contact Noelle Dilts for additional details.
Sterling Infrastructure (NasdaqGS: STRL) announced on May 15, 2024, the promotion of Sharon Villaverde to Chief Financial Officer (CFO) and Chief Accounting Officer (CAO), effective May 13, 2024. Sharon succeeds Ron Ballschmiede, who has been with Sterling as Executive VP, CFO, and CAO since November 2015, and will remain Executive VP until his planned retirement later this year. Sharon brings 30 years of experience in accounting and finance in diverse industries such as telecommunications, construction, and defense contracting. Prior to Sterling, she held leadership roles at Dycom Industries, Natus Medical, Lockheed Martin, and Alcon. Sterling's CEO, Joe Cutillo, praised Sharon's expertise and is optimistic about the opportunities ahead. Ron Ballschmiede expressed pride in Sterling's transformation and looks forward to the transition and his retirement. Sharon is honored to lead Sterling's financial teams and contribute to its growth.