Sterling Infrastructure Reports Record Q1 Results, Raises Full-Year 2026 Guidance
Summary
Sterling Infrastructure reported record first-quarter 2026 financial results with substantial growth in revenue and EPS, and raised its full-year 2026 guidance, signaling strong operational momentum.
Key Events
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Record First Quarter Performance
Q1 2026 revenues increased 92% to $825.7 million, and diluted EPS rose 141% to $3.09, significantly outperforming the prior year.
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Full-Year 2026 Guidance Raised
The company raised its full-year 2026 guidance, now expecting revenue of $3.70 billion to $3.80 billion and adjusted diluted EPS of $18.40 to $19.05, reflecting strong confidence in future growth.
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Strong Backlog Growth
Total backlog at March 31, 2026, reached $3.80 billion, up 78% year-over-year, with combined backlog increasing 131% to $5.15 billion, providing substantial revenue visibility.
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Share Repurchases Executed
Sterling repurchased $12.3 million of common stock during the quarter at an average price of $305.14 per share, indicating favorable capital deployment.
Analysis
Sterling Infrastructure delivered exceptionally strong first-quarter results, significantly exceeding prior-year performance across key metrics and raising its full-year 2026 guidance. Revenue surged 92%, and diluted EPS increased 141% year-over-year, driven by robust organic growth and contributions from the CEC acquisition. The company's backlog also saw substantial growth, providing strong visibility into future revenue. The raised full-year guidance, projecting over 50% revenue growth and over 70% adjusted diluted EPS growth, indicates strong management confidence in continued momentum. This positive financial update comes as the stock is trading above its previous 52-week high, reinforcing investor sentiment. Additionally, the company repurchased shares at an average price significantly below the current market price, demonstrating effective capital allocation.
At the time of this filing, STRL was trading at $632.00 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $16.2B. The 52-week trading range was $161.20 to $548.00. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.