Sterling Infrastructure Achieves Record Financials in Q2 2026 and Upgrades Annual Forecast

Sterling Infrastructure Reports Record Second Quarter Results and Raises Guidance for Full Year 2026

Sterling Infrastructure, Inc. (NasdaqGS: STRL) has released its remarkable financial results for the second quarter of 2026, showcasing robust growth across various metrics. The company's revenue for the quarter reached an astonishing $1.17 billion, reflecting a staggering increase of 90% compared to the same period last year, bolstered by significant contributions from acquisitions.

Key Financial Highlights

Sterling's net income saw an impressive surge of 120%, reaching $155.8 million, or a diluted earnings per share of $5.00. Furthermore, the company reported an adjusted net income of $180.8 million, representing a 118% increase, with adjusted earnings per share rising to $5.80. The earnings before interest, taxes, depreciation, and amortization (EBITDA) also witnessed a substantial increase of 101%, totaling $233.6 million.

The performance in the first half of 2026 was equally noteworthy, as cash flows from operations amounted to $328 million, with cash and cash equivalents standing at $464.5 million as of June 30, 2026. The backlog of projects reached an impressive $4.33 billion, signifying a 116% rise from the previous year and demonstrating strong year-on-year organic growth of 50%.

CEO Joe Cutillo's Insights

Joe Cutillo, the CEO of Sterling, expressed great pride in the team's execution and the substantial growth achieved. In his statement, he emphasized the strong demand across various market segments, highlighting the robust bidding and award activity during the quarter. He noted the overall visibility into the company's future business, with a total addressable work pool exceeding $7.0 billion, significantly increasing from the previous year.