Sterling Infrastructure (STRL) has reported a remarkable 122% increase in adjusted net income for Q1, reaching $111.3 million, leading to a 120% rise in adjusted EPS to $3.59, significantly surpassing expectations of $2.29 per share. Following these results, the company’s stock surged nearly 70%, hitting an all-time high of $886, with a 10% increase in just one trading session.
Revenue for Q1 escalated over 90% year-over-year to $825.67 million, also exceeding estimates of $585.36 million. Notably, the E-Infrastructure segment drove this growth, with a 174% revenue surge, as the company focuses on high-margin projects rather than traditional low-bid highway work.
Sterling’s backlog has reached a record $3.88 billion, with management raising its FY26 sales guidance to $3.7 billion-$3.8 billion, well above Wall Street’s $3.12 billion consensus. The company expects EPS for FY26 to range between $18.40-$19.05, ahead of the consensus of $13.76, highlighting strong demand for data center and semiconductor projects.
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