What is the revenue and EPS growth rate for Sterling year over year?

What does Sterling do and what are its main business segments?

Did Sterling beat or miss consensus estimates last quarter?

What guidance did Sterling's management provide for the next earnings period?

What is Sterling's latest dividend and current dividend yield?

What is the market's earnings forecast for Sterling next quarter?

What factors drove the changes in Sterling's revenue and profit?

What were the key takeaways from Sterling's earnings call?

- **Revenue Growth**: 32% FY2025, 5%+ 2026 guidance, driven by data centers and semiconductors.
- **Texas Expansion**: 150% site development growth, 300k sq.ft. modular facility to reduce field labor by 30%.
- **AI Efficiency**: 15-20% project management gains, 6 AI pilots completed.
- **Balance Sheet Strength**: $391M cash, $291M debt, $374M remaining share buyback capacity.
- **Semiconductor Pipeline**: $1B+ high-probability fabs, first groundbreakings in 2027.
- **M&A Focus**: $100M-$200M acquisitions in Texas, PNW,2026, targeting 50%+ EBITDA accretion.

**【Management Opening Remarks】**
- CEO Joseph Cutillo highlighted 2025 full-year revenue growth of 32% and adjusted EPS growth of 53%, with 2026 guidance for revenue of $3.05-$3.2B and EPS of $11.65-$12.25.
- CFO Nicholas Grindstaff emphasized strong cash flow ($440M) and balance sheet strength, with $391M cash and $291M debt.

**【CEO Commentary】**
- **Revenue Growth**: Full-year revenue up 32% to $2.8B, driven by 123% growth in Infrastructure Solutions and 24% in Transportation Solutions.
- **Margins**: Full-year gross margin 23%, with Infrastructure Solutions margins expanding 120bps to 25%.
- **Backlog**: Signed backlog $3B (78% YoY), with $1B high-probability future phase work in data centers, semiconductors, and manufacturing.
- **Texas Expansion**: Site development business grew 150%, with focus on data center campuses and modular construction.
- **AI Adoption**: 6 AI projects underway, improving project management efficiency by 15-20% and safety outcomes.

**【CFO Financial Commentary】**
- **2025 Results**: GAAP net income $440M, adjusted EBITDA $626M, operating cash flow $440M.
- **2026 Guidance**: Revenue $3.05-$3.2B (5% growth), EPS $11.65-$12.25, EBITDA $587-$620M.
- **Capital Allocation**: $100M-$110M CapEx, $74M share buybacks in 2025, $374M remaining under repurchase authorization.

**【Q&A Highlights】**
- **Texas Market**: 69% Q4 revenue growth, with 300k sq.ft. modular facility expansion to reduce field labor by 30%.
- **Residential Segment**: 6% full-year decline, but 2026 outlook for 10-15% market share gain in Houston/Phoenix.
- **AI Impact**: 15-20% project management efficiency gains, with 6 AI pilots completed.
- **M&A Strategy**: Targeting $100M-$200M acquisitions in Texas, Pacific Northwest, and Northeast for geographic expansion.
- **Semiconductor Projects**: 7-10 year project timelines, with first fabs expected to break ground in 2027.
- **Modular Construction**: 300k sq.ft. facility to prefabricate data center components, reducing field labor by 30%.
- **Competitive Position**: 84% of backlog in mission-critical projects, vs. peers' 50-60% mix.

Sterling Infrastructure, Inc.(STRL)-20260226-2025 Q4 Earnings call transcript

- **Revenue Surge**: 32% YoY growth, E-Infrastructure +58%, Transportation +10%.**
    - **Margins Expand**: Gross margin 24.7% (+280bps), E-Infrastructure adj. EBITDA 25%.**
    - **Backlog Boom**: $2.6B total (+64%), E-Infrastructure $1.8B (+97%).**
    - **CEC Synergy**: Electrical + site development driving 40% margin improvement.**
    - **Pipeline Power**: $4B+ future work (75% data centers), 2026-2027 starts.**
    - **Guidance**: 2025 Revenue $2.375B-$2.39B, EPS $8.73-$8.87, EBITDA $448M-$453M.**
    - **Risk**: Housing market softness (Building Solutions -1% Q3).**
    - **Strategy**: Focus on E-Infrastructure (95% of M&A), data centers, semiconductors.**
    - **Liquidity**: Strong cash ($306M), net cash $11.8M.**
    - **Growth**: E-Infrastructure +30%+ organic, Transportation +low teens.**
    - **Margin Expansion**: E-Infrastructure 25% (2024: 23.7%), Transportation 13.5%-14% (2024: 9.6%).**
    - **Opportunity**: $4B pipeline, 2026 starts.**
    - **Risk**: Permitting delays (3-5x pre-COVID).**
    - **Execution**: 2025 guidance: Revenue +27%, EPS +47%, EBITDA +42%.**

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue up 32% YoY, driven by 58% growth in E-Infrastructure Solutions (42% organic) and 10% in Transportation Solutions.**
- **Margins**: Adjusted EBITDA $156M (+47%), gross margin 24.7% (+280bps YoY).**
- **Backlog**: $2.6B total, +64% YoY. E-Infrastructure backlog $1.8B (+97% YoY).**
- **Segments**: Data center revenue +125% YoY. CEC contributed $41.4M in Q3, with $4B pipeline** across E-Infrastructure, Transportation, and Building Solutions.**
- **Acquisition Integration**: CEC's electrical services + site development driving margin expansion.**
- **Guidance**: Full year 2025: Revenue $2.375B-$2.39B, EPS $8.73-$8.87, EBITDA $448M-$453M.**

**【CFO Financial Commentary】**
- **Cash Flow**: Operating $253.9M (9M), CapEx $46.9M, acquisitions $484.2M (including CEC).**
- **Liquidity**: $306.4M cash, $294.6M debt, $11.8M net cash.**
- **Margins**: E-Infrastructure adj. EBITDA 25% (2024: 23.7%), Transportation 13.5%-14% (2024: 9.6%).**
- **Share Repurchases**: $48.5M (avg $135.96), $80.9M remaining.**

**【Q&A Highlights】**
- **CEC Momentum**: CEC booked large data center projects, targeting 2026 starts.**
- **Margins**: E-Infrastructure margins to expand via larger projects, electrical integration.**
- **Pipeline**: $4B+ pipeline (75% data centers), 2026-2027 starts.**
- **Transportation**: 2026 federal funding, 2-year backlog.**
- **Risk**: Building Solutions decline due to housing affordability.**
- **Acquisition Focus**: E-Infrastructure (95% of deals).**
- **Regulatory**: Permitting delays (3-5x pre-COVID).**
- **Outlook**: E-Infrastructure +30%+ organic, Transportation +low teens.**

Sterling Infrastructure, Inc. (STRL) Q3 2025 Earnings Call Transcript

- **Record Q2 Growth**: 21% revenue rise, 41% EPS jump, and 35% EBITDA expansion highlight strong execution across segments.
- **E-Infrastructure Dominance**: 62% of backlog in data centers, 700% QoQ e-commerce distribution growth, and 2025 revenue target of 18-20%.
- **Strategic Expansion**: CEC acquisition to enhance electrical/mechanical services; Texas and Northwest expansion via organic and inorganic growth.
- **Challenges & Resilience**: Building Solutions facing soft housing market, but long-term growth in key geographies expected.
- **Financial Strength**: Updated guidance reflects confidence in 13% revenue growth, 32% EPS growth, and 30% EBITDA growth.

**【CEO Opening Remarks】**
- Q2 2025 revenue grew 21% YoY to $525 million, driven by 29% growth in E-Infrastructure Solutions and 24% in Transportation Solutions.
- Adjusted EPS increased 41% to $2.69, with adjusted EBITDA up 35% to $126 million.
- Gross profit margin expanded 400bps to 23.3%, and operating cash flow reached $85 million.
- Backlog rose 24% YoY to $2 billion, with E-Infrastructure Solutions backlog up 44% to $1.2 billion.
- Announced acquisition of CEC Facilities Group to expand electrical and mechanical services capabilities.

**【CFO Financial Commentary】**
- Q2 2025 cash flow from operations was $170.3 million (year-to-date), with $28.6 million in CapEx and $37.9 million in acquisitions.
- Updated full-year guidance: Revenue $2.1-$2.15 billion (midpoint +1%), adjusted EPS $9.21-$9.47 (midpoint +8%), adjusted EBITDA $438-$453 million (midpoint +6%).
- Post-CEC closing, cash net debt expected to remain strong at $401.2 million.

**【CEO Market Outlook】**
- **E-Infrastructure:** Data center demand to continue, with 62% of backlog tied to mission-critical projects. E-commerce distribution backlog grew 700% QoQ. 2025 revenue growth expected 18-20%, margins mid- to high-20%.
- **Transportation:** Texas low-bid highway business winding down to improve margins. 2025 revenue growth low- to mid-teens, margins low teens.
- **Building Solutions:** Soft housing market expected to continue, with 2025 revenue decline mid- to high-single digits, margins low double digits.

**【Q&A Highlights】**
- **Data Center Expansion:** 62% of E-Infrastructure backlog in data centers; targeting Texas and Northwest expansion via organic growth and acquisitions.
- **Margins:** E-Infrastructure operating margins expanded 500bps YoY due to large, multi-phase projects. CEC integration expected to reduce project timelines by months.
- **Building Solutions Challenges:** Soft housing market driven by affordability, but long-term growth in DFW, Houston, and Phoenix expected.
- **CEC Acquisition:** Regulatory approvals nearing completion; expected to close by end of 2025.


Sterling Infrastructure, Inc. (STRL) Q2 2025 Earnings Call Transcript

- **Record Q1 Growth**: 7% revenue rise, 29% EPS jump, and 31% EBITDA expansion highlight strong execution.
- **Margin Expansion**: 400bps gross margin improvement driven by high-margin projects and cost control.
- **Backlog Strength**: $2.1B backlog (17% YoY) with 2.23x book-to-burn ratio signals sustained demand.
- **Strategic Acquisitions**: Drake Concrete adds $55M annual revenue, reinforcing DFW market presence.
- **E-Infrastructure Dominance**: 65% of E-Infrastructure backlog tied to data centers, with 35% growth in non-data center work.
- **Tariff Resilience**: Hedging and indexation protect margins, limiting exposure to supply chain volatility.
- **IIJA Pipeline**: Bipartisan momentum for a larger infrastructure bill supports multiyear growth.
- **2025 Guidance**: 12% revenue growth, 22% EPS expansion, and 23% EBITDA growth expected.


**【CEO Opening Remarks】**
- Q1 2025 revenue grew 7% to $430.9M, driven by 18% growth in E-Infrastructure Solutions and 9% in Transportation Solutions.
- Adjusted EPS rose 29% to $1.63, with adjusted EBITDA up 31% to $80M.
- Gross margin expanded 400bps to 22%, fueled by higher-margin projects and cost control.
- Acquired Drake Concrete for $25M, adding $55M annual revenue and $6.5M EBITDA.
- Backlog reached $2.1B (17% YoY), with a book-to-burn ratio of 2.23x.
- E-Infrastructure backlog of $1.2B (27% YoY) reflects strong demand for data centers and mission-critical projects.

**【CFO Financial Highlights】**
- Q1 2025 GAAP net income: $222M-$239M; adjusted EPS: $8.40-$8.90.
- Cash flow from operations: $84.9M (vs. $49.6M YoY), with $638.6M cash on hand.
- 2025 revenue guidance: $2.05B-$2.15B (12% growth); adjusted EBITDA: $410M-$432M.
- G&A expense expected to be 6.3% of revenue, up from 6.1% YoY.

**【Segment Performance】**
- **E-Infrastructure**: 60% YoY growth in data centers; 61% adjusted operating profit growth to $18.7M.
- **Transportation**: 60% YoY margin expansion to 14.2%; backlog up 11% to $861M.
- **Building Solutions**: 14% revenue decline due to housing market softness; legacy residential business down 19%.

**【Q&A Key Takeaways】**
- **E-Infrastructure Non-Data Center Work**: 35% of backlog in manufacturing, e-commerce, and small industrial projects; firm visibility on execution.
- **Tariff Exposure**: Minimal impact due to contract hedging, material pre-buying, and indexation clauses.
- **IIJA Bill Outlook**: Bipartisan progress on a larger infrastructure package; potential for seamless funding transition.
- **M&A Strategy**: Prioritizing E-Infrastructure expansion in Texas and electrical/mechanical services; Drake acquisition positions for recovery in residential construction.
- **Gross Margin Seasonality**: Q1 is typically the lowest; expect sequential improvement in summer/fall quarters.


Sterling Infrastructure (STRL)-6 May 25-2025 Q1 Earnings call transcript

- **Record Growth**: 2024 adjusted EPS up 37% to $6.10, driven by 44% E-Infrastructure operating income growth and 20.1% gross margin.
- **E-Infrastructure Dominance**: $1B+ backlog, 24.1% Q4 margins, and $750M future phase work secured for 2025 highlight sector leadership.
- **2025 Outlook**: Guidance for $7.90-$8.40 adjusted EPS reflects 15%+ growth, underpinned by 10%+ E-Infrastructure revenue expansion.
- **Strategic Shifts**: Transportation Solutions pivoting to higher-margin markets, Building Solutions targeting H2 2025 residential recovery.
- **AI & Onshoring Tailwinds**: Data center demand resilient to market volatility, with long-term semiconductor and manufacturing infrastructure opportunities emerging.

**【CEO Opening Remarks】**
- **2024 Financial Highlights**: Adjusted EPS grew 37% to $6.10, revenue rose 7% to $2.1B, and E-Infrastructure operating income increased 44% with margins at 22%. Gross profit margin reached 20.1%, and E-Infrastructure backlog surpassed $1B for the first time.
- **E-Infrastructure Momentum**: Data center demand remains strong, with multi-year projects and 100% historical award rate for future phases. Q1 2025 secured $750M of future phase work, exceeding prior expectations.
- **Segment Performance**: Transportation Solutions revenue grew 24% in 2024, while Building Solutions saw low-single-digit growth driven by population growth in key markets.

**【CFO Financial Review】**
- **2024 Cash Flow**: Operating cash flow of $497M, up 3.8% YoY. Share buybacks totaled $70.6M, with $129.4M remaining under authorization.
- **2025 Guidance**: Revenue $2B-$2.15B, adjusted EPS $7.90-$8.40, and adjusted EBITDA $395M-$420M. Gross margin target 21%-22%.
- **RHB Impact**: Deconsolidation of RHB results in 50% of its operating income reported in 2025, with no impact on operating income or net income.

**【Q&A Key Takeaways】**
- **E-Infrastructure Growth**: Margins expected to expand in 2025 due to larger project mix and operational efficiency. M&A focus on expanding data center and semiconductor capabilities.
- **Transportation Strategy**: Shifting away from low-margin Texas highway work to focus on Rocky Mountain and Arizona markets, targeting margin improvement despite flat revenue growth.
- **Building Solutions Recovery**: DFW residential slab business expected to recover in H2 2025, driven by population growth and share gains in Houston and Phoenix.
- **Policy Risks**: No immediate impact from federal funding cuts, as projects are already funded. Long-term onshoring trends (e.g., semiconductors) could drive new infrastructure demand.
- **Market Sentiment**: Despite AI-related market volatility, data center demand remains robust, with hyperscalers accelerating multi-year capital deployment plans.


Actual											0.12	0.65	0.55	0.2	0.37	0.69	0.72	0.47	0.64	0.86	0.97	0.66	0.64	1.27	1.26	1.3	1.0012	1.6732	1.9723	1.46	1.63	2.69	3.48	3.08
Forecast											0.22	0.315	0.45	0.235	0.21	0.52	0.49	0.37	0.415	0.725	0.8733	0.6767	0.5633	0.9267	1.245	1	0.66	1.4233	1.7133	1.3275	1.4475	2.2525	2.814	2.6229
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-45.45%	+106.35%	+22.22%	-14.89%	+76.19%	+32.69%	+46.94%	+27.03%	+54.22%	+18.62%	+11.07%	-2.47%	+13.62%	+37.05%	+1.20%	+30.00%	+51.70%	+17.56%	+15.12%	+9.98%	+12.61%	+19.42%	+23.67%	+17.43%

STRL

STRL fundamentals

STRL Q4 2025 Earnings

Earnings Call

You can ask Aime

STRL

STRL fundamentals

STRL Q4 2025 Earnings

Earnings Call

STRL Earnings Call Summary for Q4/20259:00 AM on Feb 26, 2026

STRL Earnings Call Summary for Q3/20259:00 AM on Nov 4, 2025

STRL Earnings Call Summary for Q2/20259:00 AM on Aug 5, 2025

STRL Earnings Call Summary for Q1/20259:00 AM on May 6, 2025

STRL Earnings Call Summary for Q4/20249:00 AM on Feb 26, 2025

You can ask Aime