- Sterling Infrastructure (STRL, Financial) reports a 7% increase in Q1 2025 revenue, totalling $430.9 million.
- The company raises its full-year 2025 guidance to $2.05-2.15 billion in revenue and adjusted EPS of $8.40-8.90.
- Sterling's backlog grew by 17% year-over-year, reaching $2.13 billion as of March 31, 2025.
Sterling Infrastructure, Inc. (STRL) has reported a robust performance for the first quarter of 2025, with revenue climbing 7% year-over-year to $430.9 million. This growth is complemented by a significant increase in net income, which rose by 27% to $39.5 million, or $1.28 per diluted share. Meanwhile, adjusted net income advanced by 28% to $50.2 million, or $1.63 per diluted share.
The company’s adjusted EBITDA showcased an impressive 31% surge to $80.3 million, reflecting substantial efficiency improvements as the gross margin expanded to 22.0% from 17.5%. Sterling's E-Infrastructure Solutions segment was a notable performer, achieving an 18% increase in revenue and a 61% increase in adjusted operating income, largely driven by the high demand for data centers.
Sterling's strategic acquisition of Drake Concrete, LLC in Dallas-Fort Worth aims to enhance the company's footprint within the DFW metroplex. The purchase is expected to add approximately $55 million in revenue and $6.5 million in adjusted EBITDA for 2025.
Based on its robust Q1 results, Sterling Infrastructure has revised its full-year 2025 guidance, projecting revenues between $2.05 billion and $2.15 billion, with adjusted diluted earnings per share ranging from $8.40 to $8.90. The company also reported a healthy backlog of $2.13 billion as of March 31, 2025, marking a 17% increase from the previous year.
