Sterling Infrastructure, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
February 26, 2024 at 04:05 pm
Share
Sterling Infrastructure, Inc. reported earnings results for the fourth quarter ended December 31, 2023. For the fourth quarter, the company reported sales was USD 485.98 million compared to USD 448.61 million a year ago. Net income was USD 40.17 million compared to USD 31.73 million a year ago.
Basic earnings per share from continuing operations was USD 1.3 compared to USD 0.67 a year ago. Diluted earnings per share from continuing operations was USD 1.28 compared to USD 0.66 a year ago. Basic earnings per share was USD 1.3 compared to USD 1.05 a year ago.
Diluted earnings per share was USD 1.28 compared to USD 1.03 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.