STERLING INFRASTRUCTURE INC

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 6, 2024

STRL$290.67+15.0%Stored close · as of Nov 9, 2026

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Contents

Statements of Operations

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Revenues	$582,822	$522,325	$1,023,182	$925,904
Cost of revenues	(470,079)	(430,051)	(833,535)	(771,888)
Gross profit	112,743	92,274	189,647	154,016
General and administrative expense	(27,856)	(24,034)	(55,154)	(47,355)
Intangible asset amortization	(4,280)	(3,737)	(8,577)	(7,473)
Acquisition related costs	(101)	(59)	(137)	(249)
Other operating expense, net	(7,772)	(4,181)	(10,920)	(6,049)
Operating income	72,734	60,263	114,859	92,890
Interest income	6,305	2,203	12,207	4,177
Interest expense	(6,513)	(7,731)	(13,177)	(15,259)
Income before income taxes	72,526	54,735	113,889	81,808
Income tax expense	(17,952)	(14,505)	(25,556)	(21,538)
Net income, including noncontrolling interests	54,574	40,230	88,333	60,270
Less: Net income attributable to noncontrolling interests	(2,695)	(750)	(5,406)	(1,141)
Net income attributable to Sterling common stockholders	$51,879	$39,480	$82,927	$59,129
Net income per share attributable to Sterling common stockholders:
Basic	$1.68	$1.28	$2.68	$1.93
Diluted	$1.67	$1.27	$2.66	$1.91
Weighted average common shares outstanding:
Basic	30,914	30,780	30,945	30,699
Diluted	31,145	31,000	31,158	30,886

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.