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Dec 31, 2021
Sterling Q4 2021 Earnings Report
Reported record results for the fourth quarter and full year 2021.
Key Takeaways
Sterling Construction Company reported a strong fourth quarter with a 15.6% increase in revenue to $401.3 million and an 87.3% increase in net income to $10.9 million, or $0.37 per diluted share. Adjusted EBITDA increased by 10.7% to $32.0 million.
Total Revenue of $401.3 million, an increase of 15.6%.
Net Income was $10.9 million, an increase of 87.3%.
Adjusted EBITDA of $32.0 million, an increase of 10.7%.
Total backlog at December 31, 2021 was $1.49 billion, an increase of 27.0%.
Sterling
Sterling
Forward Guidance
The Company Provides Full Year 2022 Revenue and Net Income Guidance: 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
Positive Outlook
- Market share gains
- Accelerating demand across higher margin markets
- Continued investment in new data centers and e-commerce distribution centers as a benefit to our E-Infrastructure Solutions segment.
- Building Solutions segment’s expansion into new markets is a direct result of the demand from our customers needing our services in new markets.
- Focus on margin improvement opportunities with the recently released federal infrastructure programs.