Sterling Q2 net income $39.5M ($1.27 EPS) beats; raises FY guidance

STERLING INFRASTRUCTURE, INC.

2023-Q2 EPS reported $1.91 revenue$925,904,000

Revenue $522.3M (+13.1% YoY); gross margin expanded 230 bps to 17.7%.
Net income $39.5M, diluted EPS $1.27 (+37% YoY); EBITDA $73.5M (+29%).
Backlog $1.74B (+23% vs Dec 2022); combined backlog $2.39B (+42%).
Operating cash flow $181.1M for six months; cash balance $278.1M.
FY2023 guidance raised: revenue $1.95-2.05B, EPS $4.00-4.20, EBITDA $250-260M.

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 0.98

STERLING INFRASTRUCTURE, INC. reported second quarter 2023 results: revenue $522.3 million, net income $39.5 million, EPS $1.27 per diluted share. Guidance raised.

Period: second quarter 2023
Revenue: $522.3 million
Net income: $39.5 million
EPS: $1.27 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Second Quarter 2023 Results • Revenues of $522.3 million, an increase of 13.1% • Gross margin of 17.7%, an increase from 15.4% • Net Income of $39.5 million, or $1.27 per diluted share, an increase of 40% and 37%, respectively

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Source: SEC EDGAR

accession 0000874238-23-000103

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