Sterling reports record Q3 revenue $556.9M (+20% YoY), raises full-year guidance

STERLING INFRASTRUCTURE, INC.

2022-Q3 EPS reported $2.46 revenue$1,477,830,000

Net income $29.5M ($0.97 diluted EPS), up 40% YoY; EBITDA $60.2M, up 50%.
Revenue $556.9M (+20% YoY); gross margin improved 220 bps to 14.7%.
Backlog at all-time high of $1.67B (+12% vs Dec 2021); combined backlog $1.90B (+25%).
Full-year 2022 guidance raised: revenue $1.90-1.92B, EPS $3.08-3.21, EBITDA $197-205M.
E-Infrastructure Solutions drove growth; Building Solutions revenue fell on higher rates and inflation.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STERLING INFRASTRUCTURE, INC. reported the third quarter 2022 results: revenue $556.9 million, net income $29.5 million, EPS $0.97 per diluted share.

Period: the third quarter 2022
Revenue: $556.9 million
Net income: $29.5 million
EPS: $0.97 per diluted share
Result: reported results

Exact text from the filing

• Total Revenue of $556.9 million, an increase of 20% compared to the third quarter of 2021 • Net Income was $29.5 million, or $0.97 per diluted share, an increase of 40% and 35%, respectively, compared to the third quarter of 2021

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STERLING INFRASTRUCTURE, INC. reported full year 2022 results: revenue $1.90 billion to $1.92 billion, net income $94 million to $98 million, EPS $3.08 to $3.21. Guidance raised.

Period: full year 2022
Revenue: $1.90 billion to $1.92 billion
Net income: $94 million to $98 million
EPS: $3.08 to $3.21
Guidance: raised
Result: guidance update

Exact text from the filing

Full Year 2022 Guidance: • Revenue of $1.90 billion to $1.92 billion • Net Income of $94 million to $98 million • EPS of $3.08 to $3.21 • EBITDA of $197 million to $205 million

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Source: SEC EDGAR

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