Sterling Q3 net income up 56% to $1.97 EPS; raises full-year profitability guidance

STERLING INFRASTRUCTURE, INC.

2024-Q3 EPS reported $4.63 revenue$1,616,923,000

Revenue $593.7M (+6% YoY); gross margin 21.9% vs 16.4%; diluted EPS $1.97 (+56%).
E-Infrastructure operating margin 25.8% (up >1100 bps); data center revenue +90%, now >50% of segment backlog.
Full-year 2024 guidance raised: revenue $2.150-$2.175B; diluted EPS $5.85-$6.00.
Backlog $2.06B; combined backlog $2.37B including $319.6M unsigned awards.
Cash from operations $152M in Q3; net cash $326M; $20M share repurchases in Q3.

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