Sterling reports record Q4 and FY2022; guides FY2023 revenue $1.9-2.0B

STERLING INFRASTRUCTURE, INC.

2022-FY EPS reported $3.48 revenue$1,769,436,000

Q4 revenue $448.6M (+26% YoY); net income $20.2M ($0.66 EPS), up 80% and 74% respectively.
Full-year 2022 net income $96.7M ($3.16 EPS) vs $61.5M ($2.11 EPS) in 2021; revenue +25%.
E-Infrastructure Solutions segment revenue grew 93% YoY, with 31% organic and 62% from Petillo acquisition.
FY2023 guidance: revenue $1.9-2.0B, net income $104-110M, EPS $3.33-3.53, EBITDA $220-235M.
Backlog at Dec 31, 2022 was $1.41B (+7% YoY); combined backlog $1.69B (+25% YoY).

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 0.85

STERLING INFRASTRUCTURE, INC. reported three and twelve months ended December 31, 2022 results: revenue $448.6 million, net income $20.2 million, or $0.66 per diluted share. Guidance initiated.

Period: three and twelve months ended December 31, 2022
Revenue: $448.6 million
Net income: $20.2 million, or $0.66 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

guidance. Fourth Quarter 2022 Results (compared with prior year period) (The financial information herein is from continuing operations unless otherwise noted) • Revenues of $448.6 million, an increase of 26% • Gross margin of 15.4%, an increase from 14.8% • Net Income was $20.2 million, or $0.66 per diluted share, an increase of 80% and 74%, respectively • EBITDA

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Source: SEC EDGAR

accession 0000874238-23-000015

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