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Dec 31, 2022
Sterling Q4 2022 Earnings Report
Sterling reported record fourth quarter and full year results, with revenue increasing by 26% and net income increasing by 80%.
Key Takeaways
Sterling Infrastructure, Inc. reported record fourth quarter and full year 2022 results. Revenue for the quarter was $448.6 million, a 26% increase year-over-year. Net income was $20.2 million, an 80% increase year-over-year. The company also provided full year 2023 guidance.
Revenues increased by 26% to $448.6 million.
Gross margin increased to 15.4% from 14.8%.
Net Income increased by 80% to $20.2 million, or $0.66 per diluted share.
EBITDA increased by 78% to $49.9 million; Adjusted EBITDA increased by 58% to $50.1 million.
Sterling
Sterling
Forward Guidance
Sterling provided full year 2023 guidance, including revenue of $1.9 billion to $2.0 billion, net income of $104 million to $110 million, EPS of $3.33 to $3.53, and EBITDA of $220 million to $235 million.
Positive Outlook
- Revenue of $1.9 billion to $2.0 billion
- Net Income of $104 million to $110 million
- EPS of $3.33 to $3.53
- EBITDA of $220 million to $235 million