secwatch.observer — SEC 8-K summary
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Issuer:     STERLING INFRASTRUCTURE, INC. (STRL)
CIK:        0000874238
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0000874238-23-000062
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/874238/000087423823000062/0000874238-23-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/874238/000087423823000062/strl-20230501.htm
  HTML page:      https://secwatch.observer/filing/0000874238-23-000062

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer