Sterling delivered a beat-and-raise quarter. Management has deftly pivoted to higher-margin markets amid a macro slowdown.
Start Time: 09:00 January 1, 0000 9:40 AM ET Sterling Infrastructure, Inc. (NASDAQ:STRL ) Q2 2024 Earnings Conference Call August 06, 2024, 09:00 AM ET Company Participants Joe Cutillo - CEO Sharon Villaverde - CFO Noelle Dilts - VP, IR and Corporate Strategy Conference Call Participants Brent Thielman - D.A. Davidson Adam Thalhimer - Thompson Davis Julio Romero - Sidoti Operator Good morning, ladies and gentlemen, and welcome to the Sterling Infrastructure Second Quarter 2024 Conference Call and Webcast.
Sterling Infrastructure (STRL) came out with quarterly earnings of $1.67 per share, beating the Zacks Consensus Estimate of $1.43 per share. This compares to earnings of $1.27 per share a year ago.
Sterling Infrastructure, Inc. STRL is scheduled to report second-quarter 2024 results on Aug 5, after the closing bell. In the first quarter, Sterling's revenues, though, missed the Zacks Consensus Estimate by 2.9% but grew 9% year over year despite challenging weather.
Sterling Infrastructure (STRL) closed the most recent trading day at $113.39, moving -1.64% from the previous trading session.
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Shares of Sterling Infrastructure, Inc. STRL have soared 47.2% year to date (YTD), significantly outpacing the 21% gain in the Zacks Engineering - R and D Services industry. Additionally, STRL's sector has increased 9.9%, while the S&P 500 has risen 16.9% in the same period.
Sterling Infrastructure is benefitting from long-term AI tailwinds, with double-digit revenue growth and margin expansion. The company is involved in e-infrastructure, transportation, and building solutions, with a focus on custom solutions for customers. Strong financial performance, growth opportunities in e-infrastructure, and a solid capital allocation framework make Sterling Infrastructure a buy.
In the latest trading session, Sterling Infrastructure (STRL) closed at $113.03, marking a -0.59% move from the previous day.
Sterling Infrastructure (STRL) closed the most recent trading day at $118.34, moving -0.83% from the previous trading session.
In the closing of the recent trading day, Sterling Infrastructure (STRL) stood at $119.33, denoting a +1% change from the preceding trading day.
In the latest trading session, Sterling Infrastructure (STRL) closed at $116.22, marking a -1.3% move from the previous day.