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Mar 31, 2022
Sterling Q1 2022 Earnings Report
Reported record results, outperforming expectations due to Petillo's accretive earnings and strong segment performance amidst industry challenges.
Key Takeaways
Sterling Construction Company reported a 30% increase in revenue to $410.3 million and an 82% increase in net income to $19.3 million for Q1 2022. EBITDA increased by 33% to $39.8 million. The company reaffirms its full-year 2022 guidance, anticipating continued growth despite inflationary and supply chain pressures.
Total revenue increased by 30% to $410.3 million.
Net income rose by 82% to $19.3 million, or $0.64 per diluted share.
EBITDA increased by 33% to $39.8 million.
Backlog increased to $1.53 billion.
Sterling
Sterling
Forward Guidance
Sterling Construction Company reaffirms its full year 2022 guidance.
Positive Outlook
- Revenue of $1.825 billion to $1.875 billion
- Net Income of $83 million to $89 million
- EPS of $2.69 to $2.88
- EBITDA of $185 million to $200 million