Sterling Infra Stock Price, News & Analysis

Sterling Infrastructure, Inc. (NASDAQ: STRL) announced its E-Infrastructure Solutions segment secured new awards worth $309 million in Q3 2022, marking a record booking for the quarter. The segment leads Sterling's growth, driven by demand for warehouses, data centers, and e-commerce distribution centers. CEO Joe Cutillo highlighted the recent Rivian award, expected to enhance their backlog in Q4, indicating sustained industrial opportunities through 2023.

Sterling Infrastructure, Inc. (NASDAQ: STRL) announces its subsidiary, Plateau Excavation, has secured a $45 million project for site development linked to the Rivian Electric Vehicle plant in Georgia. This project, covering 500 acres and scheduled from September 2022 to July 2023, marks the largest industrial investment in Georgia's history. CEO Joe Cutillo emphasizes the project’s significance in fostering economic growth and job creation, aligning with Sterling's commitment to onshoring and sustainable development.

Sterling Infrastructure, Inc. (NASDAQ: STRL) announced a $31 million highway reconstruction project awarded to its subsidiary, Texas Sterling Construction, by the Texas Department of Transportation. The project will reconstruct and widen SH 205 from Rockwall to Lavon, transforming a two-lane asphalt road into a four-lane divided concrete roadway with storm drainage. Scheduled from November 2022 to August 2024, this effort aims to enhance traveler safety and reduce traffic congestion as local population growth increases. CEO Joe Cutillo emphasizes the commitment to high-quality infrastructure work.

Sterling Infrastructure, Inc. (STRL) announced participation in the D.A. Davidson 21st Annual Diversified Industrials & Services Conference on September 22, 2022. CEO Joe Cutillo and CFO Ronald Ballschmiede will engage in a fireside chat at 2:45 pm ET. Management will also be available for one-on-one meetings throughout the day. A live webcast of the chat can be accessed here, with an archived version available for 90 days on the company’s website.

Sterling Infrastructure, Inc. (STRL) announced participation in the Sidoti August Virtual Micro Cap Conference on August 18, 2022. CEO Joe Cutillo and CFO Ronald Ballschmiede will host a virtual fireside chat at 11:30 am ET. Management will also be available for one-on-one meetings throughout the day. Interested parties can schedule meetings through Sidoti representatives or contact Jeremy Hellman at jhellman@equityny.com. A live webcast of the chat will be accessible online, with an archived recording available for 90 days on the company’s investor relations page.

Sterling Infrastructure reported strong second quarter 2022 results, with total revenue of $510.6 million, a 27% increase year-over-year. Net income rose to $26.0 million or $0.86 per diluted share, reflecting a 29% growth. The company’s EBITDA increased by 33% to $54.3 million. Sterling's backlog grew to $1.54 billion, up 3% from December 2021. Despite challenges posed by inflation and supply chain issues, the company announced an increase in its full-year guidance, projecting revenue between $1.865 billion and $1.885 billion.

Sterling Infrastructure, Inc. (STRL) will present at the Jefferies Industrials Conference on August 10, 2022, at the InterContinental New York Barclay. CEO Joe Cutillo and CFO Ronald Ballschmiede will engage in a fireside chat at 1:30 PM ET, with one-on-one meetings available throughout the day. A live webcast of the presentation will be accessible from 1:30 to 1:55 PM ET and archived for 90 days on the company's website. Sterling specializes in E-Infrastructure, Transportation, and Building Solutions, contributing to significant infrastructure projects across the U.S.

Sterling Infrastructure, Inc. (NASDAQ: STRL) announced new awards of $215 million in its E-Infrastructure Solutions segment for Q2 2022, marking a significant growth in a fast-expanding market. The segment, which includes large-scale site development for warehouses and data centers, is benefiting from strong demand driven by e-commerce and supply chain challenges. CEO Joe Cutillo highlighted increased warehouse projects and ongoing need for data centers, positioning Sterling favorably for the remainder of 2022.

Sterling Infrastructure plans to release its Q2 2022 financial results on August 1, 2022, after market close. A conference call is scheduled for August 2, 2022, at 9:00 am ET, featuring management discussing the results and 2022 outlook. Participants can join by calling (201) 493-6744 or (877) 445-9755. A slide presentation will be available on their website. Sterling operates in three segments: E-Infrastructure, Transportation, and Building Solutions, focusing on advanced infrastructure projects across multiple states.