Sterling Infrastructure, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 06, 2024 at 04:07 pm EDT
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Sterling Infrastructure, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 440.36 million compared to USD 403.58 million a year ago. Net income was USD 31.05 million compared to USD 19.65 million a year ago.
Basic earnings per share from continuing operations was USD 1 compared to USD 0.64 a year ago. Diluted earnings per share from continuing operations was USD 1 compared to USD 0.64 a year ago.
Sterling Infrastructure, Inc. operates through a variety of subsidiaries, specializing in E-Infrastructure, Transportation and Building Solutions in the United States. Its segments include E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment is a provider of large-scale specialty site infrastructure improvement contracting services in the Southeastern, Northeastern and Mid-Atlantic United States. It serves large, blue-chip end users in the e-commerce, data center, distribution center, warehousing, energy sectors and more. The Transportation Solutions segment is comprised of heavy highway, aviation, and rail, and relies heavily on federal and state infrastructure spending. The principal markets of this segment are Arizona, Colorado, Hawaii, Nevada, Texas, and Utah. The Building Solutions segment is comprised of its residential and commercial businesses. It focuses on concrete construction of multifamily foundations.