Sterling Q1 revenue $403.6M (+10% YoY), EPS $0.64; record backlog $1.62B

STERLING INFRASTRUCTURE, INC.

2023-Q1 EPS reported $0.64 revenue$403,579,000

Revenue $403.6M (+10% YoY); net income $19.6M ($0.64 diluted EPS, +8% YoY).
E-Infrastructure Solutions revenue grew 22%; Transportation Solutions op income up 19% despite 4% revenue decline.
Backlog $1.62B, up 15% from Dec 31, 2022; combined backlog $1.75B (incl. unsigned awards).
Full-year 2023 guidance reaffirmed: revenue $1.9-2.0B, EPS $3.33-3.53; management sees trend to high end.
Adjusted EBITDA $46.1M (+13%); cash from ops $49.1M; cash balance $202.6M.

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 1.0

STERLING INFRASTRUCTURE, INC. reported first quarter 2023 results: revenue $403.6 million, net income $19.6 million, EPS $0.64 per diluted share. Guidance reaffirmed.

Period: first quarter 2023
Revenue: $403.6 million
Net income: $19.6 million
EPS: $0.64 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The financial information herein is from continuing operations and comparisons are to the prior year quarter, unless otherwise noted. First Quarter 2023 Results • Revenues of $403.6 million, an increase of 10% • Gross margin of 15.3%, an increase from 15.1% • Net Income of $19.6 million, or $0.64 per diluted share, an increase of 11% and 8%, respectively • EBITDA

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Source: SEC EDGAR

accession 0000874238-23-000062

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