Sterling Infrastructure Reports Record Q1 Results, Raises Full-Year 2026 Guidance

summarizeSummary

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.

check_boxKey Events

• 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.

• 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.

• 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.

• 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.

auto_awesomeAnalysis

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.