STERLING INFRASTRUCTURE INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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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.
Sep 30, 2024 · Filed Nov 7, 2024
STRL$290.67+15.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents ($69,549 and $24,325 related to variable interest entities (“VIEs”)) | $648,127 | $471,563 |
| Accounts receivable ($8,749 and $1,771 related to VIEs) | 329,882 | 252,435 |
| Contract assets ($5,317 and $0 related to VIEs) | 79,736 | 88,600 |
| Receivables from and equity in construction joint ventures | 7,814 | 17,506 |
| Other current assets | 18,086 | 17,875 |
| Total current assets | 1,083,645 | 847,979 |
| Property and equipment, net | 270,532 | 243,648 |
| Operating lease right-of-use assets, net | 54,748 | 57,235 |
| Goodwill | 281,363 | 281,117 |
| Other intangibles, net | 315,540 | 328,397 |
| Other non-current assets, net | 17,757 | 18,808 |
| Total assets | $2,023,585 | $1,777,184 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable ($22,229 and $2,973 related to VIEs) | $160,199 | $145,968 |
| Contract liabilities ($30,122 and $15,741 related to VIEs) | 563,531 | 444,160 |
| Current maturities of long-term debt | 26,425 | 26,520 |
| Current portion of long-term lease obligations | 19,531 | 19,641 |
| Accrued compensation | 43,198 | 27,758 |
| Other current liabilities | 26,152 | 14,121 |
| Total current liabilities | 839,036 | 678,168 |
| Long-term debt | 296,185 | 314,996 |
| Long-term lease obligations | 35,445 | 37,722 |
| Members’ interest subject to mandatory redemption and undistributed earnings | 23,417 | 29,108 |
| Deferred tax liability, net | 82,894 | 76,764 |
| Other long-term liabilities | 15,666 | 16,573 |
| Total liabilities | 1,292,643 | 1,153,331 |
| Commitments and contingencies (Note 10) | ||
| Stockholders’ equity: | ||
| Common stock, par value $0.01 per share; 58,000 shares authorized, 31,164 and 30,926 shares issued and 30,693 and 30,926 shares outstanding | 312 | 309 |
| Additional paid in capital | 295,831 | 293,570 |
| Treasury stock, at cost: 471 and 0 shares | (48,901) | — |
| Retained earnings | 469,282 | 325,034 |
| Total Sterling stockholders’ equity | 716,524 | 618,913 |
| Noncontrolling interests | 14,418 | 4,940 |
| Total stockholders’ equity | 730,942 | 623,853 |
| Total liabilities and stockholders’ equity | $2,023,585 | $1,777,184 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.