Coming into today, shares of the civil construction company had lost 10.31% in the past month. In that same time, the Construction sector lost 4.64%, while the S&P 500 gained 2.85%. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.13 per share and a revenue of $2.2 billion, representing changes of +14.77% and +11.68%, respectively, from the prior year. Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage ...

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision. Earnings Estimate Revisions Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair ...

THE WOODLANDS, Texas, May 30, 2024 /PRNewswire/ -- Sterling Infrastructure, Inc. (NasdaqGS: STRL) ("Sterling" or "the Company") today announced that management is participating in the following investor conferences: Stifel 2024 Cross Sector Insight Conference Date: June 4, 2024 Company presentation is scheduled at 8:35-9:05 am ET Webcast: https://wsw.com/webcast/stifel89/strl/2138808 William Blair 44th Annual Growth Stock Conference Noelle Dilts, VP of Investor Relations and Corporate Strategy 281-214-0795 ...

Core Viewpoint - Growth investors are increasingly focused on stocks with above-average financial growth, which can lead to solid returns, but identifying such stocks is challenging due to inherent volatility and risks [1] Group 1: Company Overview - Sterling Infrastructure (STRL) is highlighted as a recommended growth stock due to its favorable Growth Score and top Zacks Rank [2] - The company has a historical EPS growth rate of 42.8%, with projected EPS growth of 14.8% this year, surpassing the industry average of 9.9% [4] Group 2: Financial Metrics - Sterling Infrastructure's year-over-year cash flow growth stands at 31.6%, significantly higher than the industry average of 13% [5] - The company's annualized cash flow growth rate over the past 3-5 years is 34.5%, compared to the industry average of 3.4% [6] Group 3: Earnings Estimates - The current-year earnings estimates for Sterling Infrastructure have been revised upward, with the Zacks Consensus Estimate increasing by 6.4% over the past month [8] - The combination of a Growth Score of A and a Zacks Rank of 2 indicates that Sterling Infrastructure is a potential outperformer for growth investors [9][10]

Investors with an interest in Engineering - R and D Services stocks have likely encountered both Sterling Infrastructure (STRL) and Howmet (HWM) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out. The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision tren ...

$337M Term Loan Borrowings $75M Revolving Credit Facility (Undrawn) • Scheduled term loan debt payments total $26,300, $26,300 and $6,600 for 2024, 2025, and 2026, respectively (1) The Company defines EBITDA as GAAP net income attributable to Sterling common stockholders, adjusted for depreciation and amortization, net interest expense and taxes. See EBITDA guidance reconciliation on page 16. Sterling Infrastructure, Inc. Noelle Dilts, VP IR and Corporate Strategy Tel: (281) 214-0795 noelle.dilts@strlco.com ...

Sterling Infrastructure, Inc. (NASDAQ:STRL) Q1 2024 Earnings Conference Call May 7, 2024 9:00 AM ET Company Participants Noelle Dilts - Vice President, Investor Relations and Corporate Strategy Joe Cutillo - Chief Executive Officer Ron Ballschmiede - Chief Financial Officer Conference Call Participants Brent Thielman - D.A. Davidson Adam Thalhimer - Thompson Davis Operator Good morning, ladies and gentlemen. And welcome to the Sterling Infrastructure First Quarter 2024 Webcast and Conference Call. At this t ...

PART I—FINANCIAL INFORMATION [Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) Sterling Infrastructure's Q1 2024 financial statements show net income growth to **$31.0 million**, total assets of **$1.82 billion**, and stable operating cash flow [Statements of Operations](index=4&type=section&id=Statements%20of%20Operations) Q1 2024 revenues grew 9.1% to **$440.4 million**, with net income attributable to Sterling common stockholders increasing 58.0% to **$31.0 million** Consolidated Statements of Operations Highlights (Q1 2024 vs Q1 2023) | Financial Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | YoY Change | | :--- | :--- | :--- | :--- | | **Revenues** | $440.4M | $403.6M | +9.1% | | **Gross Profit** | $76.9M | $61.7M | +24.6% | | **Operating Income** | $42.1M | $32.6M | +29.1% | | **Net Income Attributable to Sterling** | $31.0M | $19.6M | +58.0% | | **Diluted EPS** | $1.00 | $0.64 | +56.3% | [Balance Sheets](index=5&type=section&id=Balance%20Sheets) As of March 31, 2024, total assets reached **$1.82 billion**, with stockholders' equity growing to **$652.2 million** Condensed Consolidated Balance Sheet Highlights | Balance Sheet Item | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $878.9M | $848.0M | | **Total Assets** | $1.82B | $1.78B | | **Total Current Liabilities** | $705.7M | $678.2M | | **Total Liabilities** | $1.17B | $1.15B | | **Total Stockholders' Equity** | $652.2M | $623.9M | [Statements of Cash Flows](index=6&type=section&id=Statements%20of%20Cash%20Flows) Q1 2024 net cash from operating activities was **$49.6 million**, with **$21.0 million** used in investing and **$19.7 million** in financing Consolidated Cash Flow Summary (Q1 2024 vs Q1 2023) | Cash Flow Activity | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $49.6M | $49.1M | | **Net Cash (Used in) Provided by Investing Activities** | $(21.0)M | $6.5M | | **Net Cash Used in Financing Activities** | $(19.7)M | $(35.1)M | | **Net Change in Cash** | $8.9M | $20.4M | [Notes to the Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) The notes provide details on operations, accounting policies, the PPG acquisition, and segment performance, including RPOs - The company operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions, serving markets across the Southern, Northeastern, Mid-Atlantic, and Rocky Mountain regions of the U.S. and the Pacific Islands[19](index=19&type=chunk) - On November 16, 2023, Sterling acquired Professional Plumbers Group, Incorporated ("PPG") for a total fair value of consideration of **$56.7 million**. The acquisition expanded the company's residential services in the Dallas-Fort Worth market and is included in the Building Solutions segment[31](index=31&type=chunk)[32](index=32&type=chunk) Remaining Performance Obligations (RPOs) by Segment | Segment | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | E-Infrastructure Solutions | $961.0M | $813.7M | | Transportation Solutions | $1.31B | $1.18B | | Building Solutions - Commercial | $85.7M | $68.8M | | **Total RPOs** | **$2.35B** | **$2.07B** | - The company expects to recognize approximately **65%** of its RPOs as revenue within the next twelve months[37](index=37&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses favorable growth opportunities across all segments, with backlog increasing to **$2.35 billion** and Q1 2024 revenues up 9.1% to **$440.4 million** [Market Outlook and Trends](index=21&type=section&id=Market%20Outlook%20and%20Trends) The company anticipates strong growth across E-Infrastructure, Transportation, and Building Solutions segments, driven by data centers, federal funding, and residential housing - **E-Infrastructure Solutions:** Significant growth is anticipated from data centers (driven by AI), EV, battery, and solar manufacturing, though the large e-commerce warehouse market is expected to remain subdued through 2024[75](index=75&type=chunk) - **Transportation Solutions:** The Infrastructure Investments and Jobs Act (IIJA) is expected to continue driving increased bid activity and project awards for the foreseeable future, with aviation activity now accelerating[76](index=76&type=chunk) - **Building Solutions:** Continued growth is expected in the residential sector in 2024, supported by strong market dynamics, while the multi-family commercial market is projected to decline[77](index=77&type=chunk) [Backlog](index=21&type=section&id=Backlog) As of March 31, 2024, backlog increased to **$2.35 billion** with a **1.8x** book-to-burn ratio and improved margins of **15.6%** Backlog and Margin Trends | Metric | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Backlog** | $2.35B | $2.07B | | **Unsigned Awards** | $67.6M | $303.2M | | **Combined Backlog** | $2.42B | $2.37B | | **Margin in Backlog** | 15.6% | 15.2% | - The book-to-burn ratio was **1.8x** for Backlog and **1.1x** for Combined Backlog for the three months ended March 31, 2024[80](index=80&type=chunk) [Results of Operations](index=22&type=section&id=Results%20of%20Operations) Q1 2024 consolidated revenues increased 9.1% to **$440.4 million**, with gross profit up 24.6% and gross margin expanding to **17.5%** Segment Performance (Q1 2024 vs Q1 2023) | Segment | Revenues (Q1 2024) | Revenues (Q1 2023) | Operating Income (Q1 2024) | Operating Margin (Q1 2024) | Operating Margin (Q1 2023) | | :--- | :--- | :--- | :--- | :--- | :--- | | **E-Infrastructure Solutions** | $184.5M | $205.8M | $27.2M | 14.7% | 11.8% | | **Transportation Solutions** | $149.0M | $111.1M | $8.1M | 5.5% | 4.8% | | **Building Solutions** | $106.9M | $86.6M | $14.8M | 13.8% | 10.0% | - E-Infrastructure revenue decreased **10.4%** due to weather delays and lower warehouse project volume, but operating margin increased significantly due to a higher mix of data center projects[91](index=91&type=chunk)[92](index=92&type=chunk) - Transportation Solutions revenue grew **34.0%** driven by higher heavy highway, aviation, and other services, leading to improved operating income and margin[93](index=93&type=chunk)[94](index=94&type=chunk) - Building Solutions revenue increased **23.5%**, driven by the PPG acquisition (**$16.2 million**) and a record number of residential slabs poured, which more than offset a decline in commercial volume[95](index=95&type=chunk)[96](index=96&type=chunk) [Liquidity and Sources of Capital](index=24&type=section&id=Liquidity%20and%20Sources%20of%20Capital) The company maintained strong liquidity with **$480.4 million** in cash, generating **$49.6 million** from operations in Q1 2024 Cash Flow Summary (Q1 2024) | Cash Flow Activity | Amount | | :--- | :--- | | **Net Cash from Operating Activities** | $49.6M | | **Net Cash Used in Investing Activities** | $(21.0)M | | **Net Cash Used in Financing Activities** | $(19.7)M | - The company's capital strategy includes pursuing strategic uses of cash for projects, managing debt, and potential share repurchases[101](index=101&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuations, impacting annual interest expense by **$3.4 million** and income by **$4.8 million** for a 100-basis point change - As of March 31, 2024, the company had **$336.9 million** of variable rate debt. A **1%** change in interest rates would alter annual interest expense by approximately **$3.4 million**[105](index=105&type=chunk) - The company held **$480.4 million** in cash and cash equivalents. A **1%** change in interest rates would alter annual interest income by approximately **$4.8 million**[105](index=105&type=chunk) - Inflation has increased the cost of operations (oil, fuel, materials, labor) since 2021, but the company incorporates anticipated cost increases into its customer bids[107](index=107&type=chunk) [Controls and Procedures](index=26&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2024, excluding the PPG acquisition, with no material changes to internal controls - The principal executive and financial officers concluded that disclosure controls and procedures were effective as of March 31, 2024[109](index=109&type=chunk) - The company excluded the newly acquired PPG business from the scope of its controls evaluation for the quarter ended March 31, 2024[109](index=109&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[110](index=110&type=chunk) PART II—OTHER INFORMATION [Legal Proceedings](index=27&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings incidental to its ordinary course of business, not expecting a material financial impact - The company is party to various legal proceedings that are incidental to the ordinary course of business and does not expect them to have a material impact[113](index=113&type=chunk) [Risk Factors](index=27&type=page&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's 2023 Annual Report on Form 10-K - No material changes have occurred from the risk factors disclosed in the 2023 Form 10-K[114](index=114&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=27&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company has a **$200 million** stock repurchase program expiring December 5, 2025, with no shares repurchased in Q1 2024 - The Board of Directors approved a **$200 million** stock repurchase program on December 5, 2023, which is effective until December 5, 2025[115](index=115&type=chunk) - No shares were repurchased under the program during the three months ended March 31, 2024[115](index=115&type=chunk) [Other Information](index=27&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during Q1 2024 - No director or officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the quarter[116](index=116&type=chunk) [Exhibits](index=28&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents and CEO/CFO certifications - The report includes various exhibits, such as the Certificate of Incorporation, Bylaws, and CEO/CFO certifications pursuant to SEC rules[118](index=118&type=chunk)

Exhibit 99.1 NEWS RELEASE For Immediate Release: May 6, 2024 Sterling Reports Record First Quarter 2024 Results THE WOODLANDS, TX – May 6, 2024 – Sterling Infrastructure, Inc. (NasdaqGS: STRL) ("Sterling" or the "Company") today announced financial results for the first quarter 2024. See the "Non-GAAP Measures" and "EBITDA Reconciliation" sections below for more information. (1) Combined Backlog includes Unsigned Awards of $67.6 million and $303.2 million at March 31, 2024 and December 31, 2023, respectivel ...

Sterling Infrastructure, Inc. (NASDAQ:STRL) Q4 2023 Earnings Conference Call February 27, 2024 9:00 AM ET Company Participants Noelle Dilts - VP, IR and Corporate Strategy Joseph Cutillo - CEO Ronald Ballschmiede - EVP, CFO and CAO Conference Call Participants Brent Thielman - D.A. Davidson & Co. Brian Russo - Sidoti Operator Good morning, ladies and gentlemen, and welcome to the Sterling Infrastructure Fourth Quarter 2023 and Full Year Webcast and Conference Call. [Operator Instructions] This call is being ...