Sterling Infrastructure Q2 Revenue Nearly Doubles to $1.17B; Backlog Hits $4.33B
STRL has more than doubled off its 52-week low of $244.025.
Summary
Sterling Infrastructure's Q2 2026 revenue nearly doubled to $1.17B, with E-Infrastructure Solutions surging 192%. Backlog hit a record $4.33B, and a new $1.5B credit facility was secured post-quarter.
Key Events · Earnings and Guidance · STRL
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Revenue Nearly Doubles
Q2 2026 revenue reached $1.17 billion, a 90% increase over Q2 2025, driven by a 192% surge in E-Infrastructure Solutions to $905 million.
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Earnings More Than Double
Diluted EPS rose to $5.00 from $2.31 a year ago, with net income attributable to Sterling common stockholders of $155.8 million.
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Record Backlog of $4.33B
Remaining performance obligations plus master service agreements reached $4.33 billion, up from $3.01 billion at year-end 2025. Combined backlog including unsigned awards was $5.62 billion.
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Stone Ridge Acquisition Closed
On June 1, 2026, Sterling acquired Stone Ridge Contracting for $178 million, expanding its E-Infrastructure footprint in the Pacific Northwest and Texas.
Analysis · STRL · Real Estate & Construction
Sterling Infrastructure delivered a blowout quarter, with revenue nearly doubling year-over-year to $1.17 billion and diluted EPS more than doubling to $5.00. The E-Infrastructure segment, fueled by data center and semiconductor demand, saw revenue surge 192% to $905 million. Backlog swelled to $4.33 billion, and combined backlog including unsigned awards reached $5.62 billion, signaling sustained momentum. The company also closed the Stone Ridge acquisition and, just after quarter-end, replaced its credit facility with a massive $1.5 billion revolver, providing ample liquidity for further growth. This report confirms Sterling is capitalizing on secular tailwinds in digital infrastructure at an accelerating pace.
At the time of this filing, STRL was trading at $570.00 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $18.8B. The 52-week trading range was $244.02 to $1,005.68. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.