$STRL
ANOTHER BEAT AND RAISED GUIDANCE!!
Record quarter across the board:
• Revenue: $1.56B (+127% YoY)
• Adjusted EPS: $7.58 (+118%)
• Adjusted EBITDA: $337.8M (+117%)
• Organic revenue growth: 70%
The backlog story is getting even stronger:
• Signed backlog: $4.14B (+61% YoY)
• Combined backlog: $6.14B (+78%)
• Nearly $8B in total scoped opportunities, including future project phases
~95% of Sterling’s nearly $7B E-Infrastructure opportunity pipeline is tied to mission-critical projects, including data centers, manufacturing and semiconductor facilities.
CEC is another major growth driver. Management now sees potential for over $1B in revenue in 2026, with operating margins improving both YoY and sequentially.
FY2026 guidance raised:
• Revenue: $4.63B–$4.73B
• Adjusted EPS: $21.70–$21.96
• Adjusted EBITDA: $970M–$981M
At the midpoint, management now expects 88% revenue growth and 101% adjusted EPS growth for 2026.