Acquisition StrategySterling announced an agreement to acquire CEC Facilities Group, a leading electrical contractor, for $505 million.
Data Center ExpansionData center related projects now represent more than 65% of e-infrastructure backlog, which signifies more higher-margin work in the future for Sterling.
Financial PerformanceShares of Sterling Infrastructure are trading up 5% after reporting strong first-quarter results with beats on revenue, EBITDA, and EPS as well as strong backlog growth of 17%.