Sterling Infrastructure Achieves Record Financial Results for Third Quarter 2025, Upgrades Full Year Forecast

Sterling Infrastructure's Record-Breaking Q3 2025 Results

Sterling Infrastructure, Inc. (NasdaqGS: STRL), known for its robust portfolio in various infrastructure sectors, has unveiled unprecedented financial results for the third quarter of 2025. The company reported an impressive total revenue of $689 million, marking a 32% increase from the previous year’s figures when adjusted for the deconsolidation of its RHB joint venture. This growth trajectory underscores Sterling’s strategic focus on high-margin service offerings and robust operational execution.

Key Financial Highlights

In its latest report, Sterling's gross margin surged to 24.7%, up from 21.9%, reflecting the company’s effective operational strategies. The net income for the quarter reached $92.1 million, equating to $2.97 per diluted share, representing a substantial increase of 50% and 51%, respectively. Notably, the adjusted net income soared to $107.7 million, or $3.48 per diluted share, exhibiting a growth rate of 57%.

Sterling’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also reached a historic high of $143.1 million, denoting a 42% increase year-over-year. This remarkable performance contributed to a favorable operational cash flow, totaling $253.9 million over the first nine months of the year.

The company’s total backlog as of September 30, 2025, was reported at $2.58 billion, bolstered by the recent CEC acquisition, which alone contributed approximately $475.3 million to this figure. Sterling's combined backlog, including unsigned awards, reached an extraordinary $3.44 billion, indicating significant growth potential.