STERLING INFRASTRUCTURE, INC.

Listed Company

STRLCIK 0000874238NasdaqLarge AcceleratedHeavy Construction Other Than Bldg Const - ContractorsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.49B

Net Income

$290.15M

Total Assets

$2.63B

Equity

$1.11B

Shares Out

30.69M

Op. Cash Flow

$439.99M

STRL$638.35+154.84% · past yearDBEQ Basic

Daily closing prices

Business

Sterling Infrastructure operates as a heavy construction contractor through three reportable segments: E-Infrastructure Solutions provides large-scale site development and mission-critical electrical services for data centers, semiconductor fabrication, manufacturing, and power generation. Transportation Solutions delivers infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, and rail systems. Building Solutions offers residential and commercial concrete foundations, parking structures, and plumbing services. The company operates primarily across the Southern, Northeastern, Mid-Atlantic, and Rocky Mountain regions of the United States and the Pacific Islands, serving state departments of transportation, blue-chip manufacturers, and national home builders.

Summary from 10-K filed 2026-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	2,490	2,116	1,972	1,769	1,414
Cost of revenues	−1,918	−1,690	−1,635	−1,495	−1,211
Gross profit	572	426	338	275	204
General and administrative expense	−155	−118	−99	−86	−69
Intangible asset amortization	−22	−17	−15	−14	−11
Acquisition related costs	−8	−421,000	−873,000	−827,000	−4
Earn-out income (expense)	731,000	−5	669,000	—	—
Other operating income (expense), net	18	−21	−18	−13	−12
Operating income	406	265	206	160	107
Interest income	22	28	14	885,000	45,000
Interest expense	−20	−25	−29	−21	−19
Gain on deconsolidation of subsidiary, net	0	91	0	0	—
Income before income taxes	408	358	191	140	89
Income tax expense	−99	−87	−48	−42	−25
Net income, including noncontrolling interests	310	271	143	—	65
Less: Net income attributable to noncontrolling interests	−20	−13	−4	−2	−2
Net income attributable to Sterling common stockholders	290	257	139	106	63
Basic (in dollars per share)	9.5	8.35	4.51	3.53	2.19
Diluted (in dollars per share)	9.38	8.27	4.44	3.48	2.15
Basic (in shares)	31	31	31	30	29
Diluted (in shares)	31	31	31	31	29

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents ($76,154 and $97,796 related to variable interest entities (VIEs))	391	664	472	182	61
Accounts receivable ($29,196 and $17,851 related to VIEs)	501	247	252	263	200
Contract assets ($5,057 and $0 related to VIEs)	101	55	89	110	76
Receivables from and equity in construction joint ventures	6	6	18	14	—
Receivable from affiliate	0	32	0	—	—
Other current assets	35	17	18	29	16
Total current assets	1,034	1,022	848	597	435
Property and equipment, net	278	237	244	215	194
Investment in unconsolidated subsidiary	106	107	0	—	—
Operating lease right-of-use assets, net	58	53	57	59	19
Goodwill	585	265	281	263	258
Other intangibles, net	555	316	328	299	303
Other non-current assets, net	17	17	19	8	4
Total assets	2,634	2,017	1,777	1,442	1,235
Accounts payable ($22,104 and $23,964 related to VIEs)	227	130	146	122	113
Contract liabilities ($89,630 and $51,660 related to VIEs)	652	509	444	239	119
Current maturities of long-term debt	15	26	27	33	23
Current portion of long-term lease obligations	19	20	20	20	7
Accrued compensation	63	37	28	24	20
Other current liabilities	47	19	14	9	18
Total current liabilities	1,022	742	678	447	352
Long-term debt	276	290	315	399	429
Long-term lease obligations	40	32	38	40	13
Deferred tax liability, net	123	109	77	52	18
Other long-term liabilities	66	17	17	5	5
Total liabilities	1,527	1,190	1,153	964	875
Commitments and contingencies (Note 11)	—	—	—	—	—
Common stock, par value $0.01 per share; 58,000 shares authorized, 31,455 and 31,170 shares issued and 30,682 and 30,669 shares outstanding	315,000	312,000	309,000	306,000	298,000
Additional paid in capital	366	288	294	288	280
Treasury stock, at cost: 773000 and 501 shares	−131	−63	0	—	0
Retained earnings	873	582	325	186	80
Total Sterling stockholders equity	1,109	808	619	475	359
Noncontrolling interests	−2	18	5	3	1
Total stockholders equity	1,106	826	624	478	360
Total liabilities and stockholders equity	2,634	2,017	1,777	1,442	1,235

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	77	68	57	52	34
Amortization of debt issuance costs and non-cash interest	787,000	1	2	2	2
Gain on disposal of property and equipment	−3	−3	−5	−3	−1
Distribution of earnings from unconsolidated subsidiary	24	0	0	—	—
Equity in earnings from unconsolidated subsidiary	−16	0	0	−17	0
Deferred taxes	14	33	15	36	21
Stock-based compensation	24	19	15	13	12
Changes in operating assets and liabilities (Note 17)	9	200	253	29	28
Net cash provided by operating activities	440	497	479	219	159
Acquisitions, net of cash acquired	−482	−11	−51	−18	−181
Disposition proceeds	2	0	14	−16	0
Deconsolidation, net of cash	0	−104	0	0	—
Capital expenditures	−77	−81	−64	−61	−47
Proceeds from sale of property and equipment	6	10	14	5	4
Net cash used in investing activities	−552	−186	−88	−90	−223
Cash received from credit facility	0	0	3	0	140
Repayments of debt	−25	−27	−93	−23	−48
Repurchase of common stock	−74	−71	0	0	0
Distributions to noncontrolling interest owners	−40	0	−2	0	−2
Withholding taxes paid on net share settlement of equity awards	−21	−21	−10	−9	−7
Debt issuance costs	−1	0	−2	0	−1
Other	0	−36,000	−16,000	0	−4,000
Net cash used in financing activities	−162	−119	−105	−33	81
Net change in cash, cash equivalents, and restricted cash	−273	193	286	97	16
Cash paid during the period for interest	18	23	27	19	17
Cash paid during the period for income taxes	81	53	37	6	3
Share consideration for acquisitions	79	1	0	5	20
Accrued capital expenditures	5	2	13	2	264,000

Filings

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Frequently asked questions

What is STERLING INFRASTRUCTURE, INC.'s CIK number?

STERLING INFRASTRUCTURE, INC.'s SEC CIK number is 0000874238 (874238). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find STERLING INFRASTRUCTURE, INC.'s SEC filings?

All of STERLING INFRASTRUCTURE, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did STERLING INFRASTRUCTURE, INC. last report earnings?

STERLING INFRASTRUCTURE, INC. (STRL) most recently filed an earnings 8-K with the SEC on May 4, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000874238-26-000052). This is STERLING INFRASTRUCTURE, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is STERLING INFRASTRUCTURE, INC.'s most recent earnings 8-K?

STERLING INFRASTRUCTURE, INC.'s latest earnings 8-K (Item 2.02) was filed May 4, 2026 under accession 0000874238-26-000052. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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