AI Earnings Predictions for Sterling Infrastructure Inc. (STRL)

EX-99.1

2 a20261028ex991earningsrele.htm

EX-99.1

Document

Exhibit 99.1

NEWS RELEASE

For Immediate Release:

October 28, 2026

Sterling Reports Record Third Quarter Results and Raises Full Year 2026 Guidance

THE WOODLANDS, TX – October 28, 2026 – Sterling Infrastructure, Inc. (NasdaqGS: STRL) (“Sterling” or the “Company”) today announced strong financial results for the third quarter of 2026.

The financial comparisons herein are to the prior year quarter, unless otherwise noted.

Third Quarter 2026 Consolidated Results:

•Revenues of $1.56 billion, an increase of 127%.

•Net income of $214.9 million, or $6.92 per diluted share, both increases of 133%.

•EBITDA(1) of $320.8 million, an increase of 124%.

•Each of these third quarter 2026 metrics represent a new record.

Adjusted Results:

•Adjusted net income(1) of $235.4 million, or $7.58 per diluted share, increases of 119% and 118%, respectively.

•Adjusted EBITDA(1) of $337.8 million, an increase of 117%.

Cash Flow Metrics:

•Cash flows from operations totaled $427.1 million for the nine months ended September 30, 2026.

•Cash and cash equivalents totaled $216.9 million at September 30, 2026.

•Share repurchases totaled $107.3 million for the nine months ended September 30, 2026.

Backlog Metrics:

•Signed Backlog at September 30, 2026 was $4.14 billion, an increase of 61% from the prior year period.

•Combined Backlog(2) at September 30, 2026 was $6.14 billion, an increase of 78% from the prior year period.

•Third quarter 2026 book-to-burn ratios were 0.9x for Backlog and 1.4x for Combined Backlog.

Third Quarter 2026 Segment Results:

E-Infrastructure Solutions

•E-Infrastructure Solutions revenues of $1.30 billion, an increase of 212%.

◦Revenues from Site Development operations increased 133%.

◦The CEC electrical business, which was acquired on September 1, 2025, contributed $425.6 million of revenues in the quarter, compared with $41.4 million during the partial ownership period of the third quarter of 2025. On a pro forma basis assuming a full quarter of ownership in the third quarter of 2025, CEC revenues increased 305% year-over-year.

(1) See “Non-GAAP Measures”, “Adjusted Net Income Reconciliation”, and “EBITDA Reconciliation” sections below for more information.

(2) Combined Backlog includes Unsigned Awards of $2.00 billion at September 30, 2026.

•E-Infrastructure Solutions operating income of $294.5 million, an increase of 176%. E-Infrastructure Solutions operating margin of 22.6% declined year-over-year and slightly sequentially due to the higher contribution from CEC.

◦Site Development operating margin was in line with levels achieved in the first half of the year.

◦CEC operating margin improved both year-over-year and sequentially.

•E-Infrastructure Solutions adjusted operating income(1) of $302.4 million, an increase of 171%. E-Infrastructure Solutions adjusted operating margin of 23.2%.

Transportation Solutions

•Transportation Solutions revenues of $165.2 million, a 3.1% decline, reflecting the reallocation of resources toward E-Infrastructure Solutions work.

•Transportation Solutions operating income of $30.2 million, an increase of 24.0%. Transportation Solutions operating margin of 18.3%.

•Transportation Solutions adjusted operating income(1) of $32.6 million, an increase of 22.2%. Transportation Solutions adjusted operating margin was 19.7%.

Building Solutions

•Building Solutions revenues of $96.0 million, a decline of 5.4%.

•Building Solutions operating income of $5.7 million, a decline of 47.3%. Building Solutions operating margin of 5.9%.

•Building Solutions adjusted operating income(1) of $7.7 million, a decline of 38.7%. Building Solutions adjusted operating margin of 8.0%.

CEO Remarks and Outlook

“We delivered another exceptional quarter, with adjusted net income increasing 119%, adjusted diluted EPS reaching $7.58, and adjusted EBITDA more than doubling. Revenue increased 127%, including 70% organic growth,” stated Joe Cutillo, Sterling’s Chief Executive Officer. “These results reflect the strength of our strategy and the disciplined execution of our teams.”

“Demand remains strong, and our multi-year visibility continues to expand. Together, our signed backlog, unsigned awards, and next phases in design on our current projects represent nearly $8 billion of scoped work, up approximately 90% year-over-year. Importantly, these metrics do not capture the full potential for additional phases and expanded scopes as these large, multi-year projects advance.”

Mr. Cutillo continued, “E-Infrastructure Solutions continued to deliver, with revenue increasing 212% and adjusted operating income growing 171%, driven by exceptional performance across both our site development and electrical operations. Site Development generated significant growth across all regions, while maintaining strong operating margin. Demand for CEC’s electrical services remains extremely strong, and the business is scaling to capitalize on t

EX-99.1

2 a20260803ex991earningsrele.htm

EX-99.1

Document

Exhibit 99.1

NEWS RELEASE

For Immediate Release:

August 3, 2026

Sterling Reports Record Second Quarter Results and Raises Full Year 2026 Guidance

THE WOODLANDS, TX – August 3, 2026 – Sterling Infrastructure, Inc. (NasdaqGS: STRL) (“Sterling” or the “Company”) today announced strong financial results for the second quarter of 2026.

The financial comparisons herein are to the prior year quarter, unless otherwise noted.

Second Quarter 2026

Results:

•Revenues of $1.17 billion increased by 90%. Acquisitions(1) contributed $250.8 million of revenue in the quarter.

•Net income of $155.8 million, or $5.00 per diluted share, increases of 120% and 116% respectively.

•EBITDA(2) of $233.6 million, an increase of 101%.

Adjusted Results:

•Adjusted net income(2) of $180.8 million, or $5.80 per diluted share, increases of 118% and 116%, respectively.

•Adjusted EBITDA(2) of $256.7 million, an increase of 104%.

Additional Financial Metrics:

•Cash flows from operations totaled $328.0 million for the six months ended June 30, 2026.

•Cash and cash equivalents totaled $464.5 million at June 30, 2026.

•Backlog at June 30, 2026 was $4.33 billion, up 116% from the prior year period. Backlog increased 50% year-over-year on an organic basis.

•Combined Backlog(3) at June 30, 2026 was $5.62 billion, up 150% from the prior year period. Combined backlog increased 36% year-over-year on an organic basis.

•Second quarter 2026 book-to-burn ratios were 1.4x for Backlog and 1.3x for Combined Backlog, exclusive of the impact of the Stone Ridge acquisition.

CEO Remarks and Outlook

“We delivered an outstanding second quarter, with adjusted net income increasing 118% to deliver adjusted diluted EPS of $5.80. Revenue grew 90%, including organic growth of approximately 50%, and strong adjusted EBITDA margins of 22%. Year-to-date operating cash flow generation totaled $328 million,” stated Joe Cutillo, Sterling’s Chief Executive Officer. “These results are a testament to the outstanding execution of our teams across the organization, and we are incredibly proud of their continued performance.”

“Demand across our end markets remains strong, as reflected in robust bidding and award activity during the quarter and continued expansion of our multi-year visibility. We ended the quarter with signed backlog of $4.3 billion, up 116%, and combined backlog of $5.6 billion, up 150%. In addition, our pipeline of high-probability future phase work continues to

(1) Acquisitions includes CEC and Stone Ridge.

(2) See “Non-GAAP Measures”, “Adjusted Net Income Reconciliation”, and “EBITDA Reconciliation” sections below for more information.

(3) Combined Backlog includes Unsigned Awards of $1.28 billion at June 30, 2026, with $1.24 billion of Unsigned Awards contributed from CEC and Stone Ridge.

expand and now exceeds $1.4 billion. Collectively, our signed backlog, unsigned awards, and future phase opportunities provide visibility into a total addressable pool of work of more than $7.0 billion, an increase of more than $2.5 billion since year-end 2025.”

Mr. Cutillo continued, “Looking more closely at our segment performance, E-Infrastructure Solutions delivered another outstanding quarter, with revenue increasing 192% and adjusted operating income growing 148%. These results were driven by strong performance across both organic and acquired operations. The legacy site development business generated 111% revenue growth, reflecting significant growth across all regions, and operating margins expanded both year-over-year and sequentially. Demand for CEC’s electrical services also remained exceptionally strong, with revenue increasing 140% compared to the pre-acquisition second quarter and margins improving on both a year-over-year and sequential basis.

E-Infrastructure signed backlog increased 165% over the prior year quarter. Mission-critical projects—including data centers, manufacturing, and semiconductor facilities—represented 92% of E-Infrastructure backlog at quarter end. We continue to see significant opportunities for both Sterling’s best-in-class site development services and CEC’s mission-critical electrical services, reinforcing our confidence in the multi-year growth trajectory of this business.

In Transportation Solutions, revenue declined 20% compared to the prior year period, while adjusted operating income increased 8%. The revenue decline reflects our ongoing reallocation of resources from transportation projects to higher-margin E-Infrastructure opportunities; this shift is now taking place at an accelerated pace.

In Building Solutions, revenue declined 1%, reflecting relatively flat levels of homebuilder activity, while adjusted operating income decreased 11%. We expect market conditions to remain challenging through 2026 as housing affordability pressures continue to affect prospective homebuyers, but remain optimistic on the long-term growth opportunities in ou

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