Sterling Infrastructure, Inc. (STRL) Announces $400M Buyback as Q3 Results Impress

Core Viewpoint - Sterling Infrastructure Inc. is initiating a $400 million share repurchase program, reflecting confidence in its financial health and future performance, following impressive Q3 results [1][2][3]. Financial Performance - The company reported a 32% year-over-year increase in revenue for Q3, reaching $689 million, driven by a 58% growth in E-Infrastructure Solutions and a 10% growth in Transportation Solutions [2]. - Adjusted net income for the quarter rose by 57% to $107.7 million, equating to $3.48 per share [2]. Share Repurchase Program - The new $400 million buyback program will be executed over the next 24 months, replacing the previous program set to expire in December [1][2]. - CEO Joe Cutillo emphasized the company's strong balance sheet and cash flow, indicating a balanced capital allocation strategy that includes investments in organic growth and strategic acquisitions alongside returning capital to shareholders [3]. Company Overview - Sterling Infrastructure operates in three main segments: E-Infrastructure, Transportation, and Building Solutions, focusing on large-scale site development for data centers and e-commerce, heavy civil construction for roads and bridges, and concrete foundations for residential and commercial buildings [4].