Sterling Infrastructure, Inc.pr reports Q1 results

Sterling Infrastructure, Inc.pr press release (NASDAQ:STRL): Q1 Revenue of $440.4M (+9.1% Y/Y) beats by $18.65M.
Gross margin of 17.5%, an increase from 15.3%
Net Income of $31.0 million, or $1.00 per diluted share, an increase of 58% and 56%, respectively
EBITDA⁽¹⁾ of $55.7 million, an increase of 21%
Cash flows from operations totaled $49.6 million for the first quarter
Cash and Cash Equivalents totaled $480.4 million at March 31, 2024
Backlog at March 31, 2024 was $2.35 billion
Combined backlog⁽²⁾ at March 31, 2024 was $2.42 billion
Full Year 2024 Guidance
- Revenue of $2.125 billion to $2.215 billion, vs. $2.18B consensus
- Net Income of $160 million to $170 million
- Diluted EPS of $5.00 to $5.30
- EBITDA⁽¹⁾ of $285 million to $300 million

Tags: STRL