Sterling Reports Record Third Quarter Results and Raises Full Year 2026 Guidance
Sterling Infrastructure reported record Q3 2026 results, with revenue up 127% year-over-year to $1.56 billion and GAAP diluted EPS of $6.92, up 133%. Adjusted EPS reached $7.58 and adjusted EBITDA $337.8 million, with 70% of the revenue growth organic. Signed backlog rose 61% to $4.14 billion, with combined backlog including unsigned awards at $6.14 billion, up 78%. The company raised full-year 2026 guidance, now expecting revenue of $4.63B-$4.73B and adjusted diluted EPS of $21.70-$21.96 -- roughly double 2025's adjusted EPS of $10.88.
Key figures
- Eps
- 6.92
- Revenue
- $1.56 billion
- Guidance
- FY2026: revenue $4.63B-$4.73B; net income $596M-$604M; diluted EPS $19.16-$19.42; adjusted diluted EPS $21.70-$21.96; adjusted EBITDA $970M-$981M
- Revenue Yoy
- 127%
- Ebitda
- 320.8
- Net income
- 214.9
- Book to burn
- 0.9x backlog, 1.4x combined backlog
- Signed backlog
- $4.14 billion, +61% YoY
- Adjusted ebitda
- 337.8
- Combined backlog
- $6.14 billion, +78% YoY
- Adjusted net income
- 235.4
- Adjusted eps diluted
- 7.58
- Cash and equivalents
- 216.9
- Ytd share repurchases
- 107.3
- Organic revenue growth
- 70%
- Ytd operating cash flow
- 427.1
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