PR Newswire
THE WOODLANDS, TX, Aug. 3, 2026 /PRNewswire/ — Sterling Infrastructure, Inc. (NasdaqGS: STRL) (“Sterling” or the “Company”) today announced strong financial results for the second quarter of 2026.
The financial comparisons herein are to the prior year quarter, unless otherwise noted.
Second Quarter 2026
Results:
- Revenues of $1.17 billion increased by 90%. Acquisitions(1) contributed $250.8 million of revenue in the quarter.
- Net income of $155.8 million, or $5.00 per diluted share, increases of 120% and 116% respectively.
- EBITDA(2) of $233.6 million, an increase of 101%.
Adjusted Results:
- Adjusted net income(2) of $180.8 million, or $5.80 per diluted share, increases of 118% and 116%, respectively.
- Adjusted EBITDA(2) of $256.7 million, an increase of 104%.
Additional Financial Metrics:
- Cash flows from operations totaled $328.0 million for the six months ended June 30, 2026.
- Cash and cash equivalents totaled $464.5 million at June 30, 2026.
- Backlog at June 30, 2026 was $4.33 billion, up 116% from the prior year period. Backlog increased 50% year-over-year on an organic basis.
- Combined Backlog(3) at June 30, 2026 was $5.62 billion, up 150% from the prior year period. Combined backlog increased 36% year-over-year on an organic basis.
- Second quarter 2026 book-to-burn ratios were 1.4x for Backlog and 1.3x for Combined Backlog, exclusive of the impact of the Stone Ridge acquisition.
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CEO Remarks and Outlook
“We delivered an outstanding second quarter, with adjusted net income increasing 118% to deliver adjusted diluted EPS of $5.80. Revenue grew 90%, including organic growth of approximately 50%, and strong adjusted EBITDA margins of 22%. Year-to-date operating cash flow generation totaled $328 million,” stated Joe Cutillo, Sterling’s Chief Executive Officer. “These results are a testament to the outstanding execution of our teams across the organization, and we are incredibly proud of their continued performance.”
“Demand across our end markets remains strong, as reflected in robust bidding and award activity during the quarter and continued expansion of our multi-year visibility. We ended the quarter with signed backlog of $4.3 billion, up 116%, and combined backlog of $5.6 billion, up 150%. In addition, our pipeline of high-probability future phase work continues to expand and now exceeds $1.4 billion. Collectively, our signed backlog, unsigned awards, and future phase opportunities provide visibility into a total addressable pool of work of more than $7.0 billion, an increase of more than $2.5 billion since year-end 2025.”
Mr. Cutillo continued, “Looking more closely at our segment performance, E-Infrastructure Solutions delivered another outstanding quarter, with revenue increasing 192% and adjusted operating income growing 148%. These results were driven by strong performance across both organic and acquired operations. The legacy site development business generated 111% revenue growth, reflecting significant growth across all regions, and operating margins expanded both year-over-year and sequentially. Demand for CEC’s electrical services also remained exceptionally strong, with revenue increasing 140% compared to the pre-acquisition second quarter and margins improving on both a year-over-year and sequential basis.
E-Infrastructure signed backlog increased 165% over the prior year quarter. Mission-critical projects—including data centers, manufacturing, and semiconductor facilities—represented 92% of E-Infrastructure backlog at quarter end. We continue to see significant opportunities for both Sterling’s best-in-class site development services and CEC’s mission-critical electrical services, reinforcing our confidence in the multi-year growth trajectory of this business.
In Transportation Solutions, revenue declined 20% compared to the prior year period, while adjusted operating income increased 8%. The revenue decline reflects our ongoing reallocation of resources from transportation projects to higher-margin E-Infrastructure opportunities; this shift is now taking place at an accelerated pace.
In Building Solutions, revenue declined 1%, reflecting relatively flat levels of homebuilder activity, while adjusted operating income decreased 11%. We expect market conditions to remain challenging through 2026 as housing affordability pressures continue to affect prospective homebuyers, but remain optimistic on the long-term growth opportunities in our key geographies.”
“Our strong second quarter results strengthen our conviction that 2026 will be another exceptional year for Sterling. As a result, we are raising our 2026 guidance to reflect the momentum across our businesses, the continued expansion of our backlog and future phase opportunities, our increasing visibility into future growth, and the contribution from the Stone Ridge acquisition. At the midpoint, our 2026 guidance would represent 64% year-over-year revenue growth, 84% growth in adjusted diluted earnings per share, and 79% growth in adjusted EBITDA—positioning Sterling for another year of exceptional execution, profitable growth, and long-term value creation,” Mr. Cutillo concluded.
Full Year 2026 Guidance
- Revenue of $4.00 billion to $4.15 billion
- Net Income of $536 million to $555 million
- Diluted EPS of $17.25 to $17.85
- EBITDA(1) of $829 million to $854 million
Full Year 2026 Adjusted Guidance
Please see the “Adjusted Net Income Guidance Reconciliation” and “EBITDA Guidance Reconciliation” sections below for reconciliations of GAAP to non-GAAP measures and comparable 2025 results.
- Adjusted Net Income(1) of $612 million to $631 million
- Adjusted Diluted EPS(1) of $19.70 to $20.30
- Adjusted EBITDA(1) of $891 million to $916 million
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Conference Call
Sterling’s management will hold a conference call to discuss these results and recent corporate developments on Tuesday, August 4, 2026 at 9:00 a.m. ET/8:00 a.m. CT. Interested parties may participate in the call by dialing (800) 836-8184. Please call in 10 minutes before the conference call is scheduled to begin and ask for the Sterling Infrastructure call. To coincide with the conference call, Sterling will post a slide presentation at www.strlco.com on the Events & Presentations section of the Investor Relations tab. Following management’s opening remarks, there will be a question and answer session.
To listen to a simultaneous webcast of the call, please go to the Company’s website at www.strlco.com at least 15 minutes early to download and install any necessary audio software. If you are unable to listen live, the conference call webcast will be archived on the Company’s website for 30 days.
About Sterling
Sterling operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands. E-Infrastructure Solutions provides advanced, large-scale site development services and mission-critical electrical services for data centers, semiconductor fabrication, manufacturing, distribution centers, warehousing, power generation and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concrete work, plumbing services, and surveys for new single-family residential builds. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.
Joe Cutillo, CEO, “We build and service the infrastructure that enables our economy to run,
our people to move and our country to grow.”
Important Information for Investors and Stockholders
Non-GAAP Measures
This press release contains “Non-GAAP” financial measures as defined under Regulation G of the amended U.S. Securities Exchange Act of 1934. The Company reports financial results in accordance with U.S. generally accepted accounting principles (“GAAP”), but the Company believes that certain Non-GAAP financial measures provide useful supplemental information to investors regarding the underlying business trends and performance of the Company’s ongoing operations and are useful for period-over-period comparisons of those operations.
Non-GAAP measures may include adjusted net income, adjusted operating income, adjusted EPS, EBITDA and adjusted EBITDA, in each case excluding the impacts of certain identified items. The excluded items represent items that the Company does not consider to be representative of its normal operations. The Company believes that these measures are useful for investors to review, because they provide a consistent measure of the underlying financial results of the Company’s ongoing business and, in the Company’s view, allow for a supplemental comparison against historical results and expectations for future performance. Furthermore, the Company uses each of these to measure the performance of the Company’s operations for budgeting and forecasting, as well as for determining employee incentive compensation. However, Non-GAAP measures should not be considered as substitutes for net income, EPS, or other data prepared and reported in accordance with GAAP and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.
Reconciliations of Non-GAAP financial measures to the most comparable GAAP measures are provided in the tables included within this press release.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements that are considered forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which may include statements about: the anticipated benefits of the CEC and Stone Ridge acquisitions; our business strategy; our financial strategy; our industry outlook; our guidance; our expected earnings and margin growth; our pool of future work; and our plans, objectives, expectations, forecasts, outlook and intentions. All of these types of statements, other than statements of historical fact included in this press release, are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “guidance,” “continue,” the negative of such terms or other comparable terminology. The forward-looking statements contained in this press release are largely based on our expectations, which reflect estimates and assumptions made by our management. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. In addition, management’s assumptions about future events may prove to be inaccurate. Management cautions all readers that the forward-looking statements contained in this press release are not guarantees of future performance, and we cannot assure any reader that such statements will be realized or the forward-looking events and circumstances will occur. Actual results may differ materially from those anticipated or implied in the forward-looking statements due to factors listed in the “Risk Factors” section in our filings with the U.S. Securities and Exchange Commission and elsewhere in those filings. Additional factors or risks that we currently deem immaterial, that are not presently known to us or that arise in the future could also cause our actual results to differ materially from our expected results. Given these uncertainties, investors are cautioned that many of the assumptions upon which our forward-looking statements are based are likely to change after the date the forward-looking statements are made. The forward-looking statements speak only as of the date made, and we undertake no obligation to publicly update or revise any forward-looking statements for any reason, whether as a result of new information, future events or developments, changed circumstances, or otherwise, notwithstanding any changes in our assumptions, changes in business plans, actual experience or other changes. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.
Company Contact:
Sterling Infrastructure, Inc.
Noelle Dilts, VP Investor Relations and Corporate Strategy
281-214-0795
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Revenues |
$ 1,168,179 |
$ 614,468 |
$ 1,993,854 |
$ 1,045,417 |
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Cost of revenues |
(878,222) |
(471,328) |
(1,509,601) |
(807,437) |
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Gross profit |
289,957 |
143,140 |
484,253 |
237,980 |
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General and administrative expense |
(53,130) |
(33,987) |
(100,980) |
(68,618) |
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Intangible asset amortization |
(7,492) |
(4,536) |
(14,585) |
(9,039) |
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Acquisition related costs |
(12,528) |
(2,495) |
(13,935) |
(2,674) |
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Earn-out expense |
(2,488) |
(1,343) |
(4,976) |
(2,686) |
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Other operating income, net |
4,942 |
3,785 |
7,298 |
5,677 |
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Operating income |
219,261 |
104,564 |
357,075 |
160,640 |
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Interest income |
3,803 |
6,901 |
7,441 |
13,728 |
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Interest expense |
(3,094) |
(4,995) |
(7,108) |
(10,227) |
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Income before income taxes |
219,970 |
106,470 |
357,408 |
164,141 |
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Income tax expense |
(51,324) |
(27,362) |
(84,997) |
(42,442) |
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Net income, including noncontrolling interests |
168,646 |
79,108 |
272,411 |
121,699 |
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Less: Net income attributable to noncontrolling interests |
(12,820) |
(8,117) |
(20,616) |
(11,231) |
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Basic |
$ 5.08 |
$ 2.33 |
$ 8.21 |
$ 3.62 |
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Diluted |
$ 5.00 |
$ 2.31 |
$ 8.09 |
$ 3.59 |
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Basic |
30,689 |
30,408 |
30,670 |
30,477 |
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Diluted |
31,143 |
30,762 |
31,110 |
30,804 |
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E-Infrastructure Solutions |
$ 905,001 |
78 % |
$ 310,406 |
51 % |
$ 1,502,733 |
75 % |
$ 528,669 |
51 % |
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Transportation Solutions |
156,692 |
13 % |
196,797 |
32 % |
289,555 |
15 % |
317,458 |
30 % |
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Building Solutions |
106,486 |
9 % |
107,265 |
17 % |
201,566 |
10 % |
199,290 |
19 % |
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E-Infrastructure Solutions |
$ 210,849 |
23.3 % |
$ 83,767 |
27.0 % |
$ 344,613 |
22.9 % |
$ 130,409 |
24.7 % |
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Transportation Solutions |
28,176 |
18.0 % |
25,975 |
13.2 % |
42,930 |
14.8 % |
37,228 |
11.7 % |
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Building Solutions |
8,490 |
8.0 % |
9,855 |
9.2 % |
14,705 |
7.3 % |
22,207 |
11.1 % |
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Segment Operating Income |
247,515 |
21.2 % |
119,597 |
19.5 % |
402,248 |
20.2 % |
189,844 |
18.2 % |
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Corporate G&A Expense |
(13,238) |
(11,195) |
(26,262) |
(23,844) |
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Acquisition Related Costs |
(12,528) |
(2,495) |
(13,935) |
(2,674) |
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Earn-out Expense |
(2,488) |
(1,343) |
(4,976) |
(2,686) |
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Current assets: |
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Cash and cash equivalents |
$ 464,451 |
$ 390,721 |
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Accounts receivable |
770,671 |
501,163 |
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Contract assets |
156,295 |
101,154 |
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Receivables from and equity in construction joint ventures |
6,980 |
6,179 |
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Other current assets |
30,341 |
35,245 |
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Total current assets |
1,428,738 |
1,034,462 |
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Property and equipment, net |
322,888 |
278,269 |
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Investment in unconsolidated subsidiaries |
101,572 |
105,813 |
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Operating lease right-of-use assets, net |
51,922 |
58,167 |
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Goodwill |
616,232 |
585,221 |
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Other intangibles, net |
660,017 |
554,702 |
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Other non-current assets, net |
12,871 |
17,197 |
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Total assets |
$ 3,194,240 |
$ 2,633,831 |
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Current liabilities: |
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Accounts payable |
$ 316,019 |
$ 226,810 |
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Contract liabilities |
802,601 |
652,357 |
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Current maturities of long-term debt |
15,141 |
15,146 |
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Current portion of long-term lease obligations |
14,613 |
18,679 |
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Accrued compensation |
71,975 |
62,657 |
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Other current liabilities |
70,733 |
46,805 |
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Total current liabilities |
1,291,082 |
1,022,454 |
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Long-term debt |
268,734 |
275,903 |
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Long-term lease obligations |
38,327 |
40,186 |
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Deferred tax liability, net |
129,410 |
123,145 |
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Other long-term liabilities |
76,138 |
65,708 |
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Total liabilities |
1,803,691 |
1,527,396 |
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Stockholders’ equity: |
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Common stock |
315 |
315 |
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Additional paid in capital |
402,458 |
366,101 |
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Treasury stock, at cost |
(169,901) |
(130,547) |
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Retained earnings |
1,124,443 |
872,648 |
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Total Sterling stockholders’ equity |
1,357,315 |
1,108,517 |
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Noncontrolling interests |
33,234 |
(2,082) |
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Total stockholders’ equity |
1,390,549 |
1,106,435 |
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Total liabilities and stockholders’ equity |
$ 3,194,240 |
$ 2,633,831 |
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Net income |
$ 272,411 |
$ 121,699 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Depreciation and amortization |
48,011 |
34,613 |
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Amortization of debt issuance costs and non-cash interest |
342 |
472 |
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Gain on disposal of property and equipment |
(1,243) |
(1,340) |
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Changes in the fair value of earn-outs |
4,976 |
2,686 |
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Distribution of earnings from unconsolidated subsidiaries |
10,813 |
10,319 |
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Equity in earnings from unconsolidated subsidiaries |
(6,573) |
(5,677) |
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Deferred taxes |
6,265 |
5,414 |
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Stock-based compensation |
15,639 |
12,278 |
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Changes in operating assets and liabilities |
(22,620) |
(10,153) |
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Net cash provided by operating activities |
328,021 |
170,311 |
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Acquisitions, net of cash acquired |
(139,985) |
(37,860) |
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Capital expenditures |
(69,646) |
(31,262) |
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Proceeds from sale of property and equipment |
3,132 |
2,645 |
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Net cash used in investing activities |
(206,499) |
(66,477) |
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Repayments of debt |
(7,577) |
(17,275) |
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Capital contributions from noncontrolling interest owners |
14,700 |
— |
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Repurchase of common stock |
(35,256) |
(43,846) |
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Withholding taxes paid on net share settlement of equity awards |
(11,892) |
(6,126) |
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Payments of earn-outs |
(7,767) |
— |
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Debt issuance costs |
— |
(1,409) |
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Net cash used in financing activities |
(47,792) |
(68,656) |
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Net change in cash, cash equivalents, and restricted cash |
73,730 |
35,178 |
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Cash, cash equivalents and restricted cash at beginning of period |
390,721 |
664,195 |
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Cash, cash equivalents and restricted cash at end of period |
464,451 |
699,373 |
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Less: restricted cash |
— |
— |
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Cash and cash equivalents at end of period |
$ 464,451 |
$ 699,373 |
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Net income attributable to Sterling common stockholders |
$ 155,826 |
$ 70,991 |
$ 251,795 |
$ 110,468 |
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Non-cash stock-based compensation |
8,142 |
5,595 |
15,639 |
12,278 |
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Intangible asset amortization (1) |
9,364 |
6,408 |
18,328 |
12,782 |
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Acquisition related costs |
12,528 |
2,495 |
13,935 |
2,674 |
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Earn-out expense |
2,488 |
1,343 |
4,976 |
2,686 |
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Tax impact of adjustments |
(7,588) |
(4,071) |
(12,575) |
(7,866) |
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Adjusted net income attributable to Sterling common |
$ 180,760 |
$ 82,761 |
$ 292,098 |
$ 133,022 |
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Basic |
$ 5.08 |
$ 2.33 |
$ 8.21 |
$ 3.62 |
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Diluted |
$ 5.00 |
$ 2.31 |
$ 8.09 |
$ 3.59 |
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Basic |
$ 5.89 |
$ 2.72 |
$ 9.52 |
$ 4.36 |
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Diluted |
$ 5.80 |
$ 2.69 |
$ 9.39 |
$ 4.32 |
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|||||||
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Basic |
30,689 |
30,408 |
30,670 |
30,477 |
|||
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Diluted |
31,143 |
30,762 |
31,110 |
30,804 |
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For each of the three and six months ended June 30, 2026 and 2025, intangible asset amortization includes $1,872 and $3,743, respectively, related to the basis difference recognized upon the deconsolidation of RHB on December 31, 2024. |
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The Company defines adjusted net income attributable to Sterling common stockholders as GAAP net income attributable to Sterling common stockholders excluding non-cash stock-based compensation, intangible asset amortization, acquisition related costs, earn-out (income) expense, and the income tax impact of these adjustments. The tax impact of adjustments is determined by using the Company’s annual effective tax rate, unless the nature of the item requires application of a specific tax rate. |
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Net income attributable to Sterling common stockholders |
$ 155,826 |
$ 70,991 |
$ 251,795 |
$ 110,468 |
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Depreciation and amortization (1) |
27,124 |
19,769 |
52,304 |
38,906 |
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Interest income, net |
(709) |
(1,906) |
(333) |
(3,501) |
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Income tax expense |
51,324 |
27,362 |
84,997 |
42,442 |
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EBITDA (2) |
233,565 |
116,216 |
388,763 |
188,315 |
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Non-cash stock-based compensation |
8,142 |
5,595 |
15,639 |
12,278 |
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Acquisition related costs |
12,528 |
2,495 |
13,935 |
2,674 |
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Earn-out expense |
2,488 |
1,343 |
4,976 |
2,686 |
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Adjusted EBITDA (3) |
$ 256,723 |
$ 125,649 |
$ 423,313 |
$ 205,953 |
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For each of the three and six months ended June 30, 2026 and 2025, depreciation and amortization includes $1,872 and $3,743, respectively, of intangible asset amortization and $275 and $550, respectively, of depreciation expense related to the basis difference recognized upon the deconsolidation of RHB. |
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The Company defines EBITDA as GAAP net income attributable to Sterling common stockholders adjusted for depreciation and amortization, net interest income/expense and income tax expense. |
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The Company defines adjusted EBITDA as EBITDA excluding the impact of non-cash stock-based compensation, acquisition related costs, and earn-out expense. |
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E-Infrastructure Solutions |
$ 217,833 |
24.1 % |
$ 87,718 |
28.3 % |
$ 358,163 |
23.8 % |
$ 138,301 |
26.2 % |
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Transportation Solutions |
30,495 |
19.5 % |
28,271 |
14.4 % |
47,573 |
16.4 % |
41,848 |
13.2 % |
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Building Solutions |
10,537 |
9.9 % |
11,797 |
11.0 % |
18,803 |
9.3 % |
26,031 |
13.1 % |
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Adjusted Segment Operating |
258,865 |
22.2 % |
127,786 |
20.8 % |
424,539 |
21.3 % |
206,180 |
19.7 % |
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Corporate G&A Expense |
(7,082) |
(7,381) |
(14,586) |
(15,120) |
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Total Adjusted Operating |
$ 251,783 |
21.6 % |
$ 120,405 |
19.6 % |
$ 409,953 |
20.6 % |
$ 191,060 |
18.3 % |
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The Company defines adjusted operating income as GAAP operating income excluding the impact of non-cash stock-based compensation, intangible asset amortization, acquisition related costs, and earn-out expense. For the three months ended June 30, 2026, GAAP operating income of $219,261 is adjusted to exclude $8,142 of non-cash stock-based compensation, $9,364 of intangible asset amortization (including $1,872 related to the basis difference of RHB), $12,528 of acquisition related costs, and $2,488 of earn-out expense. |
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For the six months ended June 30, 2026, GAAP operating income of $357,075 is adjusted to exclude $15,639 of non-cash stock-based compensation, $18,328 of intangible asset amortization (including $3,743 related to the basis difference of RHB), $13,935 of acquisition related costs, and $4,976 of earn-out expense. |
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For the three months ended June 30, 2025, GAAP operating income of $104,564 is adjusted to exclude $5,595 of non-cash stock-based compensation, $6,408 of intangible asset amortization (including $1,872 related to the basis difference of RHB), $2,495 of acquisition related costs, and $1,343 of earn-out expense. |
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For the six months ended June 30, 2025, GAAP operating income of $160,640 is adjusted to exclude $12,278 of non-cash stock-based compensation, $12,782 of intangible asset amortization (including $3,743 related to the basis difference of RHB), $2,674 of acquisition related costs, and $2,686 of earn-out expense. |
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Net income attributable to Sterling common stockholders |
$ 536 |
$ 555 |
$ 290 |
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|
Non-cash stock-based compensation |
38 |
38 |
24 |
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|
Intangible asset amortization (1) |
39 |
39 |
30 |
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|
Acquisition related costs |
14 |
14 |
8 |
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Earn-out expense (income) |
10 |
10 |
(1) |
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Income tax impact of adjustments |
(25) |
(25) |
(15) |
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Adjusted net income attributable to Sterling common stockholders (2) |
$ 612 |
$ 631 |
$ 337 |
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Diluted |
$ 17.25 |
$ 17.85 |
$ 9.38 |
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|
Diluted |
$ 19.70 |
$ 20.30 |
$ 10.88 |
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Diluted (2026 is approximate) |
31.1 |
31.1 |
30.9 |
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Full year 2026 guidance and full year 2025 actual include intangible asset amortization of approximately $7.5 million related to the basis difference recognized in the deconsolidation of RHB. |
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The Company defines adjusted net income attributable to Sterling common stockholders as GAAP net income attributable to Sterling common stockholders excluding the impact of non-cash stock-based compensation, intangible asset amortization, acquisition related costs, earn-out expense (income), and the income tax impact of these adjustments. The tax impact of adjustments is determined by using the Company’s annual effective tax rate, unless the nature of the item requires application of a specific tax rate. |
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|
Net income attributable to Sterling common stockholders |
$ 536 |
$ 555 |
$ 290 |
||
|
Depreciation and amortization (1) |
111 |
114 |
86 |
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|
Interest expense (income), net |
(1) |
(4) |
(3) |
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|
Income tax expense |
183 |
189 |
99 |
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|
EBITDA (2) |
829 |
854 |
472 |
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|
Non-cash stock-based compensation |
38 |
38 |
24 |
||
|
Acquisition related costs |
14 |
14 |
8 |
||
|
Earn-out expense (income) |
10 |
10 |
(1) |
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|
Adjusted EBITDA(3) |
$ 891 |
$ 916 |
$ 504 |
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|
|
Full year 2026 guidance and full year 2025 actual include depreciation and intangible asset amortization of approximately $1.1 million and $7.5 million, respectively, related to the basis difference recognized in the deconsolidation of RHB. |
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The Company defines EBITDA as GAAP net income attributable to Sterling common stockholders, adjusted for depreciation and amortization, net interest income/expense, and income tax expense. |
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The Company defines adjusted EBITDA as EBITDA excluding the impact of non-cash stock-based compensation, acquisition related costs, and earn-out expense (income). |
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View original content to download multimedia:https://www.prnewswire.com/news-releases/sterling-reports-record-second-quarter-results-and-raises-full-year-2026-guidance-302841538.html
SOURCE Sterling Infrastructure, Inc.
