Sterling Q3 2022 Earnings Report
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