Sterling Infrastructure, Inc. income statement
In fiscal 2025, Sterling Infrastructure, Inc. reported revenue of $2.49bn, up 17.7% on the year before, operating income of $406m (a 16.3% margin) and net income of $290m, or $9.38 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 391 | 460 | 501 | 631 | 556 | 672 | 624 | 690 | 958 | 1,038 | 1,126 | 1,227 | 1,414 | 1,769 | 1,972 | 2,116 | 2,490 | 4,313 |
| Cost of revenue | — | — | — | — | — | — | — | 648 | 869 | 927 | 1,018 | 1,047 | 1,211 | 1,495 | 1,635 | 1,690 | 1,918 | 3,288 |
| Gross profit | 54 | 63 | 40 | 47 | −30 | 32 | 28 | 42 | 89 | 110 | 108 | 180 | 204 | 275 | 338 | 426 | 572 | 1,026 |
| General and administrative | 15 | 25 | 25 | 35 | 41 | 37 | 40 | 37 | 47 | 48 | 49 | 64 | 69 | 86 | 99 | 118 | 155 | 211 |
| Operating income | 37 | 36 | −52 | 16 | −69 | −4 | −14 | −5 | 26 | 43 | 38 | 93 | 107 | 160 | 206 | 265 | 406 | 784 |
| Income before tax | — | — | −52 | 17 | −69 | −5 | −17 | −7 | 16 | — | — | — | — | — | — | — | — | — |
| Income tax | 12 | 10 | −17 | −1 | 1 | 1 | 0 | 0 | 0 | 2 | −26 | 19 | 25 | 42 | 48 | 87 | 99 | 187 |
| Net income | 24 | 19 | −36 | −0 | −74 | −10 | −20 | −9 | 12 | 25 | 40 | 42 | 63 | 106 | 139 | 257 | 290 | 554 |
| Diluted EPS | $1.71 | $1.13 | −$2.24 | −$0.26 | −$4.91 | −$0.54 | −$2.02 | −$0.40 | $0.43 | $0.93 | $1.47 | $1.50 | $2.15 | $3.48 | $4.44 | $8.27 | $9.38 | $17.82 |
| Diluted shares (average) | 13,856m | 17m | 16m | 16m | 17m | 18m | 19m | 23m | 27m | 27m | 27m | 28m | 29m | 31m | 31m | 31m | 31m | 31m |
| EBITDA | 51 | 52 | −35 | 35 | −51 | 14 | 2 | 11 | 43 | 59 | 58 | 125 | 141 | 212 | 263 | 333 | 483 | 866 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 499 | 431 | 614 | 689 | 756 | 826 | 1,168 | 1,564 |
| Cost of revenue | 392 | 336 | 471 | 519 | 591 | 631 | 878 | 1,187 |
| Gross profit | 107 | 95 | 143 | 170 | 164 | 194 | 290 | 377 |
| General and administrative | 33 | 35 | 34 | 38 | 49 | 48 | 53 | 61 |
| Operating income | 62 | 56 | 105 | 125 | 120 | 138 | 219 | 307 |
| Income tax | 38 | 15 | 27 | 31 | 26 | 34 | 51 | 76 |
| Net income | 113 | 39 | 71 | 92 | 88 | 96 | 156 | 215 |
| Diluted EPS | $3.64 | $1.28 | $2.31 | $2.97 | $2.82 | $3.09 | $5.00 | $6.92 |
| EBITDA | 80 | 73 | 118 | 139 | 143 | 161 | 237 | 326 |
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