Sterling Q4 net income up 99% to $40.2M; record FY2023 EPS $4.47; guides FY2024 EPS $4.85-5.15

STERLING INFRASTRUCTURE, INC.

2023-FY EPS reported $4.44 revenue$1,972,229,000

Q4 revenue $486M (+8% YoY), net income $40.2M (+99%), diluted EPS $1.28.
Gross margin expanded 350 bps to 18.9%; full-year cash from ops $478.6M.
Backlog at Dec31 $2.07B, up 46% YoY; combined backlog $2.37B, up 40%.
FY2024 guidance: revenue $2.125-2.215B, diluted EPS $4.85-5.15, EBITDA $285-300M.
E-Infrastructure backlog up 35%; Transportation Solutions revenue +39% in Q4.

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 0.95

STERLING INFRASTRUCTURE, INC. reported the fourth quarter ended December 31, 2023 results: revenue $486.0 million, net income $40.2 million, EPS $1.28 per diluted share. Guidance initiated.

Period: the fourth quarter ended December 31, 2023
Revenue: $486.0 million
Net income: $40.2 million
EPS: $1.28 per diluted share
Guidance: initiated
Result: preliminary 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. Fourth Quarter 2023 Results • Revenues of $486.0 million, an increase of 8% • Gross margin of 18.9%, an increase from 15.4% • Net Income of $40.2 million, or $1.28 per diluted share, an increase of 99% and 94%, respectively • Adjusted

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STERLING INFRASTRUCTURE, INC. reported the full year ended December 31, 2023 results: net income $138.7 million, EPS $4.44 per diluted share. Guidance initiated.

Period: the full year ended December 31, 2023
Net income: $138.7 million
EPS: $4.44 per diluted share
Guidance: initiated
Result: preliminary results

Exact text from the filing

Sterling Reports Record Fourth Quarter and Full Year 2023 Results Provides 2024 Full Year Guidance

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51 earnings releases filed in the last 30 days. Browse all earnings releases →

STERLING INFRASTRUCTURE, INC. filing history →

Source: SEC EDGAR

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