Sterling Construction ( (STRL) ) has released its Q1 earnings. Here is a breakdown of the information Sterling Construction presented to its investors.
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Sterling Infrastructure, Inc. is a diversified construction company operating through subsidiaries in E-Infrastructure, Transportation, and Building Solutions across the United States, with a focus on sustainability and responsible operations.
Sterling Infrastructure reported robust financial results for the first quarter of 2025, with significant growth in revenues and net income, and an increase in full-year guidance. The company also completed the acquisition of Drake Concrete, enhancing its presence in the Dallas-Fort Worth market.
Key financial highlights include a 7% increase in revenues to $430.9 million, a gross margin improvement to 22%, and a 28% rise in adjusted net income to $50.2 million. The company’s EBITDA grew by 30%, reaching $72.1 million, while the backlog increased to $2.13 billion. The acquisition of Drake Concrete is expected to contribute significantly to the Building Solutions segment.
Sterling’s CEO, Joe Cutillo, expressed optimism for 2025, citing strong growth in E-Infrastructure and Transportation Solutions, despite challenges in the Building Solutions segment due to the housing market slowdown. The company raised its full-year guidance, anticipating continued revenue and earnings growth.
Looking ahead, Sterling Infrastructure remains focused on expanding its high-margin service offerings and leveraging its strong backlog and cash flow to drive further growth in 2025, while maintaining a commitment to sustainability and operational excellence.