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Jun 30
Sterling Q2 2025 Earnings Report
Sterling posted record Q2 2025 results with strong revenue and EPS growth.
Key Takeaways
Sterling Infrastructure delivered outstanding second quarter results, achieving record net income and adjusted EBITDA. Strong performance was driven by growth in E-Infrastructure and Transportation segments, while Building Solutions faced modest headwinds.
Revenue reached $614,468,000, with a 21% increase YoY excluding RHB.
Net income grew to $71,000,000, a 37% increase YoY.
Adjusted EPS was $2.69, up 41% from the prior year quarter.
Backlog reached $2.01 billion, with strong E-Infrastructure awards.
Sterling
Sterling
Sterling Revenue by Segment
Revenue by Segment
E-Infrastructure Revenue
CapyFin.comTransportation Revenue
CapyFin.comBuilding Revenue
CapyFin.com Forward Guidance
Sterling raised full-year 2025 guidance citing strong first-half performance, growing E-Infrastructure demand, and a solid backlog pipeline.
Positive Outlook
- Raised FY25 revenue guidance to $2.10–$2.15 billion.
- Increased adjusted EPS outlook to $9.21–$9.47.
- Adjusted EBITDA projected at $438–$453 million.
- Strong backlog and future phase visibility approaching $2B in E-Infrastructure.
- CEC acquisition expected to enhance geographic expansion and service offering.
Challenges Ahead
- Softness persists in the Building Solutions segment due to housing market challenges.
- Texas heavy highway downsizing to temporarily impact Transportation revenue.
- CEC acquisition not yet reflected in FY25 guidance.
- Seasonal lull affected Transportation awards in Q2.
- Affordability pressures continue to affect residential construction demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income