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Dec 31, 2023
Sterling Q4 2023 Earnings Report
Sterling reported record results for the fourth quarter and full year 2023.
Key Takeaways
Sterling Infrastructure reported an 8% increase in revenue, reaching $486.0 million, and a 99% increase in net income, totaling $40.2 million, or $1.28 per diluted share, for the fourth quarter of 2023. The company's EBITDA increased by 37% to $68.4 million, and its backlog grew by 46% to $2.07 billion.
Revenues increased by 8% to $486.0 million.
Net Income rose by 99% to $40.2 million, or $1.28 per diluted share.
EBITDA increased by 37% to $68.4 million.
Backlog increased by 46% to $2.07 billion.
Forward Guidance
Sterling provided full year 2024 guidance, anticipating revenue between $2.125 billion and $2.215 billion, net income between $155 million and $165 million, diluted EPS between $4.85 and $5.15, and EBITDA between $285 million and $300 million.
Positive Outlook
- Revenue of $2.125 billion to $2.215 billion
- Net Income of $155 million to $165 million
- Diluted EPS of $4.85 to $5.15
- EBITDA of $285 million to $300 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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