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Sep 30, 2022
Sterling Q3 2022 Earnings Report
Reported record revenue, net income, and EBITDA, driven by the strength and diversity of its portfolio and outstanding execution.
Key Takeaways
Sterling Infrastructure reported a strong Q3 2022 with record revenue, net income, and EBITDA. The company's performance was driven by growth in E-Infrastructure Solutions and improved margins in Transportation and Building Solutions. As a result, the company increased its full year 2022 guidance.
Total revenue increased by 20% compared to Q3 2021, reaching $556.9 million.
Net income increased by 40% compared to Q3 2021, reaching $29.5 million.
EBITDA increased by 50% compared to Q3 2021, reaching $60.2 million.
Backlog increased by 12% since December 31, 2021, reaching $1.67 billion.
Sterling
Sterling
Forward Guidance
Sterling Infrastructure provided full year 2022 guidance with revenue between $1.90 billion and $1.92 billion, net income between $94 million and $98 million, EPS between $3.08 and $3.21, and EBITDA between $197 million and $205 million.
Positive Outlook
- Revenue of $1.90 billion to $1.92 billion
- Net Income of $94 million to $98 million
- EPS of $3.08 to $3.21
- EBITDA of $197 million to $205 million
- Adjusted guidance improves net income by 53%, revenue by 21% and EPS by 47% over 2021