Sterling reports Q1 record net income $31M, diluted EPS $1.00; raises FY guidance

STERLING INFRASTRUCTURE, INC.

2024-Q1 EPS reported $1.00 revenue$440,360,000

Revenue $440.4M (+9% YoY); gross margin 17.5% up from 15.3%; EBITDA $55.7M (+21%).
Backlog $2.35B (+45% YoY); awards $642M with 1.8x book-to-burn; strength in data center and aviation.
Full-year 2024 guidance: revenue $2.125-2.215B (unchanged); net income raised to $160-170M, EPS $5.00-$5.30.
Cash from operations $49.6M; cash & equivalents $480.4M; balance sheet strong.
E-Infrastructure operating margins +294bps; Transportation rev +34%; Building Solutions rev +23%.

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 three months ended March 31, 2024 results: revenue $440.4 million, net income $31.0 million, or $1.00 per diluted share, EPS $1.00 per diluted share. Guidance raised.

Period: the three months ended March 31, 2024
Revenue: $440.4 million
Net income: $31.0 million, or $1.00 per diluted share
EPS: $1.00 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

financial results for the first quarter 2024. The financial comparisons herein are to the prior year quarter, unless otherwise noted. First Quarter 2024 Results • Revenues of $440.4 million, an increase of 9% • Gross margin of 17.5%, an increase from 15.3% • Net Income of $31.0 million, or $1.00 per diluted share, an increase of 58% and 56%, respectively • EBITDA

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Source: SEC EDGAR

accession 0000874238-24-000076

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