Recent Updates — STRL
Sterling Infrastructure reported third-quarter revenues of $1.56 billion, a 127% increase year-over-year, driven by strong demand in its E-Infrastructure Solutions segment. Net income reached $214.9 million, or $6.92 per diluted share, while adjusted net income was $235.4 million, or $7.58 per diluted share. The company raised its full-year 2026 revenue guidance to a range of $4.63 billion to $4.73 billion and updated its adjusted diluted EPS outlook to $21.70–$21.96. Signed backlog stood at $4.14 billion, up 61% from the prior year period. Sterling Infrastructure provides site development, electrical services, transportation infrastructure, and building solutions in the United States.
Sterling Infrastructure appointed Katherine Hargis as Senior Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary, effective October 5, 2026. She succeeds Mark D. Wolf, who held the role since August 2020. Hargis joins from Key Energy Services, where she served as Senior Vice President, Chief Administrative Officer, General Counsel, and Corporate Secretary. Previously, she was Vice President, General Counsel, and Corporate Secretary at U.S. Concrete. Sterling Infrastructure operates in E-Infrastructure, Transportation, and Building Solutions segments across the United States.
Sterling Infrastructure reported record second quarter 2026 results with revenues of $1.17 billion, a 90% year-over-year increase driven by acquisitions contributing $250.8 million and organic growth of approximately 50%. Net income rose 120% to $155.8 million, or $5.00 per diluted share, while adjusted net income increased 118% to $180.8 million, or $5.80 per diluted share. The company raised its full year 2026 guidance, projecting revenue between $4.00 billion and $4.15 billion and adjusted diluted EPS between $19.70 and $20.30. Backlog reached $4.33 billion at June 30, 2026, up 116% from the prior year period. Sterling Infrastructure operates in the infrastructure services industry, providing site development, electrical, transportation, and building solutions across the United States.
On July 6, 2026, Mark D. Wolf, General Counsel, Chief Compliance Officer, and Corporate Secretary, notified the company of his intention to retire later in the year. Mr. Wolf will remain in his current role to assist with the transition. Sterling Infrastructure, Inc. is an infrastructure company providing site development, transportation, and building solutions.
Sterling Infrastructure, Inc. entered into a Second Amended and Restated Credit Agreement on July 2, 2026, with BMO Bank N.A. acting as administrative agent. The agreement increases the company's borrowing capacity by $1.05 billion, establishing revolving loans up to an aggregate principal amount of $1.5 billion. The facility matures on July 2, 2031, and includes an option to establish an incremental facility for term loans or additional revolving borrowings. Proceeds are intended for refinancing debt, capital expenditures, acquisitions, and general corporate purposes. As of the report date, $90 million was outstanding under the revolving loans. The agreement includes financial covenants requiring a Total Net Leverage Ratio not exceeding 3.50 to 1.00 and an Interest Coverage Ratio of at least 3.00 to 1.00. Sterling Infrastructure, Inc. provides infrastructure solutions for various construction and industrial markets.
On June 9, 2026, Sterling Infrastructure, Inc. closed the acquisition of Stone Ridge Contracting, LLC, a site development contractor based in Pocatello, Idaho. Sterling Infrastructure, Inc. operates in the infrastructure construction and services industry.