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Sterling Infrastructure Q3 revenue, profit more than doubles, driven by E-Infrastructure growth

By Reuters News


Overview

  • US infrastructure builder's Q3 revenue rose 127%, beating analyst expectations

  • Adjusted Q3 net income and EPS more than doubled year-over-year

  • Company raised full-year 2026 guidance for revenue, adjusted EPS, and adjusted EBITDA


Outlook

  • Sterling raises 2026 revenue guidance to $4.63 bln-$4.73 bln

  • Company now sees 2026 adjusted diluted EPS at $21.70-$21.96

  • Sterling expects 2026 adjusted EBITDA of $970 mln-$981 mln


Result Drivers

  • E-INFRASTRUCTURE GROWTH - Revenue surged 212% in E-Infrastructure Solutions, driven by strong site development and electrical operations, per CEO Joe Cutillo

  • CEC ACQUISITION IMPACT - CEC electrical business contributed $425.6 mln in Q3 revenue, with pro forma revenue up 305% year-over-year and improved margins

  • RESOURCE REALLOCATION - Transportation Solutions revenue declined 3% as resources shifted to higher-margin E-Infrastructure projects


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$1.56 bln

$1.19 bln (9 Analysts)

Q3 EBITDA

$320.80 mln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the construction & engineering peer group is "buy."

  • Wall Street's median 12-month price target for Sterling Infrastructure, Inc. is $755.00, about 105.4% above its October 27 closing price of $367.50

  • The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 42 three months ago


Reuters Recommended Reads

  • Oct 28 - GE Vernova Q3 revenue beats estimates on order growth

  • Oct 27 - Illinois Tool Works Inc beats Q3 EPS estimates, raises 2026 outlook

  • Oct 28 - Specialized equipment maker Terex Q3 sales beat on higher shipment volumes


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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