Financial Data and Key Metrics Changes - The company reported its Q3 2024 earnings, with a focus on financial performance and guidance for the upcoming quarters [3]. - Management may reference non-GAAP financial measures such as EBITDA and adjusted earnings, which are reconciled to GAAP measures [3]. Business Line Data and Key Metrics Changes - Specific details regarding the performance of various business lines were not provided in the available content [3]. Market Data and Key Metrics Changes - The company will provide a market outlook and full-year guidance during the call, indicating a focus on market conditions and performance expectations [3]. Company Strategy and Development Direction - The management team, including the CEO and CFO, will discuss the company's strategic direction and competitive positioning in the industry [3]. Management Comments on Operating Environment and Future Outlook - Management will address the operating environment and future prospects during the call, highlighting any challenges or opportunities [3]. Other Important Information - The call includes a safe harbor statement regarding forward-looking statements and risk factors that could affect projections [3]. Q&A Session Summary - The Q&A session will follow the management presentations, allowing analysts and investors to ask questions regarding the company's performance and outlook [3].

Financial Performance - The Company reported revenues of $593.7 million for Q3 2024, an increase of $33.4 million, or 6.0%, compared to Q3 2023, driven by a $34.3 million increase in Transportation Solutions[84]. - Gross profit for Q3 2024 was $129.8 million, a 41.3% increase compared to Q3 2023, with a gross margin of 21.9%[86]. - For the nine months ended September 30, 2024, revenues reached $1.62 billion, an increase of $130.7 million, or 8.8%, compared to the same period in 2023[85]. - Total revenues for Q3 2024 were $593.7 million, an increase of $33.4 million, or 6.0%, compared to Q3 2023 revenues of $560.3 million[97]. - Operating income for Q3 2024 was $87.5 million, or 14.7% of revenue, compared to $57.1 million, or 10.2% of revenue, in Q3 2023[97]. - The gross margin for the nine months ended September 30, 2024, improved to 19.8%, up from 16.5% in the same period of 2023, driven by higher volume and improved project margin mix[87]. Backlog and Awards - The Company's backlog was $2.06 billion as of September 30, 2024, slightly down from $2.07 billion at December 31, 2023, with an increased backlog margin of 16.8%[82]. - Unsigned awards totaled $319.6 million at September 30, 2024, up from $303.2 million at December 31, 2023, contributing to a combined backlog of $2.37 billion[83]. Segment Performance - E-Infrastructure Solutions segment revenues increased by $10.0 million, or 3.9%, to $263.9 million in Q3 2024, while revenues for the nine months ended September 30, 2024, decreased by $30.2 million, or 4.2%, to $689.7 million[98][99]. - Transportation Solutions segment revenues rose by $34.3 million, or 17.7%, to $227.3 million in Q3 2024, and increased by $153.8 million, or 33.8%, to $609.0 million for the nine months ended September 30, 2024[101]. - Building Solutions segment revenues decreased by $10.8 million, or 9.5%, to $102.6 million in Q3 2024, primarily due to lower commercial volume[103]. Cash Flow and Financial Position - Net cash provided by operating activities for the nine months ended September 30, 2024, was $322.8 million, a decrease from $331.2 million in the same period of 2023[109]. - Total cash and cash equivalents increased to $648.1 million as of September 30, 2024, compared to $471.6 million at the end of 2023[108]. - Net cash used in investing activities for the nine months ended September 30, 2024, was $62.3 million, an increase from $25.6 million in the same period of 2023[111]. - Net cash used in financing activities was $84.0 million for the nine months ended September 30, 2024, compared to $81.4 million in the prior year[113]. - The financing cash outflow included $50.6 million for common stock repurchase, $19.7 million for term loan repayments, and $13.4 million for withholding taxes on equity awards[113]. Strategic Focus and Market Outlook - The Company anticipates continued strong demand in E-Infrastructure Solutions, particularly in data centers and electric vehicle sectors, supported by federal investment initiatives[77]. - Transportation Solutions is benefiting from the Infrastructure Investments and Jobs Act, which includes approximately $643 billion in funding for transportation programs, leading to increased bid activity[78]. - The Building Solutions segment is experiencing a slowdown in residential demand, particularly in the Dallas market, with expectations of re-acceleration in 2025[79]. - The company plans to explore additional revenue growth and capital alternatives to strengthen its financial position and leverage opportunities in civil infrastructure and E-infrastructure markets[114]. Expenses and Taxation - General and administrative expenses for Q3 2024 were $30.7 million, or 5.2% of revenue, up from $25.2 million, or 4.5% of revenue, in Q3 2023[89]. - The effective income tax rate for Q3 2024 was 26.4%, with an anticipated full-year rate of approximately 24%[94]. Debt and Interest Rate Sensitivity - As of September 30, 2024, the company had $323.8 million in variable rate debt, with a potential interest expense fluctuation of approximately $3.2 million per year for a 100-basis point change in interest rates[118]. - The company held cash and cash equivalents of $648.1 million as of September 30, 2024, with a potential interest income fluctuation of approximately $6.5 million per year for a 100-basis point change in interest rates[118]. Joint Ventures and Operational Challenges - Approximately $174 million of construction work remains on unconsolidated joint venture contracts, with the company's proportionate share being about $85 million[115]. - Inflation and supply chain volatility have led to increased costs in operations, affecting general and administrative expenses[120][121]. - The company is not aware of any situations requiring it to fulfill responsibilities of joint venture partners under joint and several liability agreements as of September 30, 2024[115].

Sterling Infrastructure (STRL) came out with quarterly earnings of $1.97 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to earnings of $1.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.26%. A quarter ago, it was expected that this civil construction company would post earnings of $1.43 per share when it actually produced earnings of $1.67, delivering a surprise of 16.78%.Over the last ...

THE WOODLANDS, Texas, Nov. 6, 2024 /PRNewswire/ -- Sterling Infrastructure, Inc. (NasdaqGS: STRL) ("Sterling" or the "Company") today announced financial results for the third quarter 2024.The financial comparisons herein are to the prior year quarter, unless otherwise noted.Third Quarter 2024 Results Revenues of $593.7 million, an increase of 6% Gross margin of 21.9%, up from 16.4% Net Income of $61.3 million, or $1.97 per diluted share, an increase of 56% for both metrics EBITDA(1) of $100.8 million, an i ...

Sterling Infrastructure, Inc. (STRL) is scheduled to report third-quarter 2024 results on Nov. 6, after the closing bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, STRL delivered solid results, with earnings and revenues came in ahead of the Zacks Consensus Estimate by 16.8% and 5.3%, respectively.The company registered an 11.7% revenue growth and a 31.5% increase in earnings per share (EPS), driven by a diversified portfolio and a focus on margin ...

In the latest market close, Sterling Infrastructure (STRL) reached $154.45, with a +0.64% movement compared to the previous day. This change outpaced the S&P 500's 1.86% loss on the day. Meanwhile, the Dow experienced a drop of 0.9%, and the technology-dominated Nasdaq saw a decrease of 2.76%.Shares of the civil construction company witnessed a gain of 5.06% over the previous month, beating the performance of the Construction sector with its gain of 3.66% and the S&P 500's gain of 1.01%.Investors will be ea ...

Small deep value individual investor, with a modest private investment portfolio, split approx. 50%-50% between shares and call options. I have a B.Sc. in aeronautical engineering and over 6 years of experience as an engineering consultant in the aerospace sector. The latter statement is not relevant in any way whatsoever to my investment style, but I thought to add it for self-indulgent purposes. I have a contrarian investment style, highly risky, and often dealing with illiquid options. How illiquid? Well ...

The most recent trading session ended with Sterling Infrastructure (STRL) standing at $150.66, reflecting a -1.76% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, added 0.56%.Heading into today, shares of the civil construction company had gained 5.16% over the past month, outpacing the Construction sector's loss of 2.06% and the S&P 500's gain of 1.39% in that time.The inve ...

Sterling Infrastructure, Inc. (STRL) stock is trading at a premium compared with the Zacks Engineering - R and D Services industry. With a forward 12-month Price/Earnings (P/E) ratio of 25.76X, it is above the industry's average of 23.81X and a five-year median of 10.65X. In comparison, its peers, Primoris Services Corporation (PRIM) , Granite Construction Incorporated (GVA) and Dycom Industries, Inc. (DY) , are trading cheaper at 15.89X, 14.82X and 21.91X, respectively. While some investors may view this a ...

The most recent trading session ended with Sterling Infrastructure (STRL) standing at $154.09, reflecting a +1.95% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 1.03%, while the tech-heavy Nasdaq added 0.6%. The civil construction company's stock has climbed by 35.81% in the past month, exceeding the Construction sector's gain of 8.51% and the S&P 500's gain of 6.41%. Investors will be eagerly watching for the pe ...