UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number 1-31993 STERLING INFRASTRUCTURE, INC. (Exact name of registrant as specified in its charter) Delaware 25-1655321 (State or other jurisdi ...

Exhibit 99.1 NEWS RELEASE For Immediate Release: August 5, 2024 Sterling Reports Record Second Quarter 2024 Results and Raises Full Year Guidance THE WOODLANDS, TX – August 5, 2024 – Sterling Infrastructure, Inc. (NasdaqGS: STRL) ("Sterling" or the "Company") today announced financial results for the second quarter 2024. The financial comparisons herein are to the prior year quarter, unless otherwise noted. Second Quarter 2024 Results • Revenues of $582.8 million, an increase of 12% • Gross margin of 19.3%, ...

Sterling Infrastructure, Inc. (STRL) is scheduled to report second-quarter 2024 results on Aug 5, after the closing bell. In the first quarter, Sterling's revenues, though, missed the Zacks Consensus Estimate by 2.9% but grew 9% year over year despite challenging weather. The company achieved a record gross margin of 17.5% and delivered earnings per share (EPS) of $1.00 (beating the consensus mark by 22%). It ended the quarter with a backlog exceeding $2.35 billion, up 45% year over year, and secured awards ...

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Sterling's management will host a conference call on Tuesday, August 6, 2024, at 9:00 am ET/8:00 am CT to discuss the second quarter results, as well as the 2024 outlook. Interested parties may participate in the call by dialing (800) 836-8184. Please call in ten minutes before the conference call is scheduled to begin and ask for the Sterling Infrastructure call. To coincide with the conference call, Sterling will post a slide presentation at www.strlco.com on the Events & Presentations section of the Inve ...

Shares of Sterling Infrastructure, Inc. (STRL) have soared 47.2% year to date (YTD), significantly outpacing the 21% gain in the Zacks Engineering - R and D Services industry. Additionally, STRL's sector has increased 9.9%, while the S&P 500 has risen 16.9% in the same period. Over the past three years, Sterling's shares have delivered an astonishing total return of 520.9% compared with the S&P 500's modest return of 30.2%. STRL Trades Above 200-Day SMA Additionally, STRL pursues growth through acquisitions ...

Company Overview - Sterling Infrastructure (NASDAQ:STRL) is a specialized construction and engineering company operating in three verticals: e-infrastructure, transportation, and building solutions [2] - The e-infrastructure segment is the largest and fastest growing, generating 48% of total sales, while the transportation segment accounts for 32% of sales with lower operating margins of 6.6% [16] - The building solutions segment, although the smallest at 20% of revenues, is growing with good operating margins of 11.4% [3] Financial Performance - Over the last twenty years, the company has achieved compound annual growth rates (CAGRs) in revenue and EBITDA of 13.8% and 15.4%, respectively [6] - In the last five years, revenue and EBITDA have compounded at rates of 13.7% and 33.9%, respectively [6] - The company's operating cash flow has nearly doubled every two years, providing flexibility for growth investments [7] Growth Opportunities - The global smart infrastructure market is projected to grow at a 23.1% CAGR, reaching nearly $1 trillion by 2032, driven by increased demand for e-infrastructure [21] - The company's backlog of projects totaled $961 million, a 32% increase compared to Q1'23, with data centers contributing significantly to this growth [21] - Management is guiding for FY'24 revenue of $2.125 to $2.215 billion and EBITDA of $285 to $300 million, indicating expectations for continued margin expansion [22] Capital Allocation - Sterling Infrastructure focuses on organic growth initiatives, M&A, and share buybacks, with a preference for margin-accretive deals [23] - The company has a strong balance sheet with cash exceeding total debt, allowing for potential leverage up to 2.5x if opportunities arise [23] Valuation - The company's shares have more than doubled over the past year, with a current EV/EBITDA multiple of 11.2x, which is significantly higher than the 6.0x multiple before 2023 [24][25] - Despite the recent rise in share price, the company is seen as having a favorable valuation given its growth prospects and business mix shift towards higher-margin e-infrastructure [13][25]

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Sterling Infrastructure currently has a Zacks Rank of #2 (Buy). The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the averag ...

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Sterling Infrastructure is currently a Zacks Rank #2 (Buy). The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the ...

Market participants will be closely following the financial results of Sterling Infrastructure in its upcoming release. The company's upcoming EPS is projected at $1.47, signifying a 15.75% increase compared to the same quarter of the previous year. In terms of valuation, Sterling Infrastructure is presently being traded at a Forward P/E ratio of 22.29. This signifies a premium in comparison to the average Forward P/E of 19.79 for its industry. The latest trading session saw Sterling Infrastructure (STRL) e ...