Sterling Infrastructure(US:STRL)2021-09-24 17:14Company Overview - Sterling is an infrastructure service provider focused on e-infrastructure, building, and transportation solutions[5] - The company has approximately 3,000 employees and around 200 projects underway[9] - As of September 20, 2021, the company's market capitalization was $6248 million, with a backlog of $1571 million and TTM revenues of $14477 million[9] Financial Performance and Growth - The company's 5-year revenue CAGR is 15% and EBITDA CAGR is 66%[7] - For the six months ended June 30, 2021, revenues were $7170 million compared to $6967 million in 2020, with a gross margin of 141% versus 136%[29] - Net income attributable to Sterling for the same period was $306 million in 2021 compared to $213 million in 2020, and diluted EPS was $106 versus $076[29] Strategic Vision and Objectives - The company aims to solidify its base, grow high-margin products, and expand into adjacent markets[9] - The company's blended margin increased from 4% in 2015 to 14% in 2019-2020 and is projected to reach 20% by 2021[13,14] - The company expects EBITDA coverage to be approximately 20X by year-end 2021[35] Segment Performance - Heavy Civil revenue for the six months ended June 30, 2021, was $3502 million, with an operating margin of 16%[29] - Specialty Services revenue for the same period was $2760 million, with an operating margin of 142%[29] - Residential revenue was $908 million, with an operating margin of 120%[29]