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Sep 30, 2020
Sterling Q3 2020 Earnings Report
Reported strong profitability and cash flow, further enhancing liquidity position and achieving a record backlog providing visibility into 2021 growth.
Key Takeaways
Sterling Construction Company reported strong third-quarter results with revenues of $383.5 million, a gross margin of 13.0%, net income of $15.2 million, and EBITDA of $36.7 million. The company's backlog reached a record $1.24 billion, providing visibility into 2021 growth. They are maintaining full year revenue and income guidance.
Revenues were $383.5 million compared to $291.7 million.
Gross margin was 13.0% of revenues compared to 10.0%.
Net Income was $15.2 million compared to $8.0 million.
EBITDA was $36.7 million compared to $15.4 million.
Forward Guidance
The company is maintaining its full year 2020 guidance for revenues of between $1.415 billion and $1.430 billion and 2020 net income attributable to Sterling common stockholders of between $41 million and $44 million, excluding acquisition related costs of $1 million to $2 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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