Sterling Infrastructure Reports Strong Q1 Earnings and Raises Full-Year Guidance
Tuesday, 7 May 2024, 16:00
Growth Across the Business
Sterling Infrastructure (NASDAQ: STRL) impressed investors with a robust Q1 performance, surpassing revenue and earnings estimates. The company's CEO, Joe Cutillo, remains optimistic about the year ahead, despite weather-related setbacks.
Highlights:
- Sterling earned $1 per share on revenue of $440.4 million, beating consensus estimates.
- Revenue grew by 9% YoY with a gross margin improvement to 17.5%.
- 2024 guidance projects earnings of $5 - $5.30 per share on revenue of $2.125 - $2.215 billion.
Sterling Infrastructure: a promising investment? With a backlog of $2.35 billion and exposure to key market trends, Sterling appears well-positioned for future growth opportunities.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.