Stock Track | Sterling Construction Soars 5.66% After Hours on Strong Q3 Earnings, Raised Guidance

Stock Track11-04

Sterling Construction (NASDAQ:STRL) saw its stock surge 5.66% in after-hours trading on Monday following the release of its impressive third-quarter earnings report, which significantly exceeded analyst expectations.

The company reported Q3 revenue of $689.019 million, representing a 32% increase year-over-year and surpassing the consensus estimate of $618.8 million. Adjusted earnings per share (EPS) came in at $3.48, beating the analyst forecast of $2.48 by 40.21%. This marks a substantial 76.65% improvement from the $1.97 per share reported in the same period last year.

Sterling Infrastructure's strong performance was driven by robust growth across its segments, particularly in E-Infrastructure Solutions, which saw a 58% revenue increase. The company also reported an improved gross margin of 24.7%, up from 21.9% in the prior year. In light of these results, Sterling raised its full-year guidance, projecting revenue between $2.375 billion and $2.390 billion, and adjusted EBITDA of $486 million to $491 million. The company now expects full-year adjusted EPS in the range of $10.35 to $10.52, reflecting confidence in its continued growth trajectory.

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