Sterling Infrastructure Reports 90% Revenue Growth to $1.17 Billion in Q2 2026

Sterling Infrastructure, Inc. reported significant financial growth in its second quarter and first half of 2026, with revenues reaching $1.17 billion for the quarter, a 90% increase from $614.5 million in the same period last year. For the six months ending June 30, 2026, revenues totaled $1.99 billion, up 91% from $1.05 billion in the prior year. The company's net income attributable to common stockholders also saw a substantial rise, reaching $155.8 million for the second quarter, compared to $71.0 million in 2025, and $251.8 million for the first half of 2026, up from $110.5 million in the previous year.

The growth in revenue was primarily driven by the E-Infrastructure Solutions segment, which reported a 192% increase in revenue to $905.0 million for the second quarter, largely due to higher volumes from large mission-critical projects. However, the Transportation Solutions segment experienced a decline, with revenues decreasing by 20% to $156.7 million in the second quarter, attributed to lower heavy highway and other revenue. The Building Solutions segment remained relatively stable, with a slight decrease in revenue of 0.7% for the quarter.

Strategically, Sterling made two significant acquisitions in the past year, acquiring CEC Facilities Group in September 2025 and Stone Ridge Contracting in June 2026. The integration of these companies is expected to enhance Sterling's E-Infrastructure Solutions segment and expand its geographic footprint. The total purchase price for Stone Ridge was approximately $178 million, while CEC was acquired for about $561.6 million. These acquisitions are anticipated to create cross-selling opportunities and strengthen Sterling's service offerings.

Operationally, Sterling's total assets increased to $3.19 billion as of June 30, 2026, up from $2.63 billion at the end of 2025. The company reported a backlog of $4.33 billion, which includes remaining performance obligations and master service agreements, reflecting a significant increase from $3.01 billion at the end of the previous year. The company also reported a cash balance of $464.5 million, which includes cash from construction joint ventures, indicating a strong liquidity position.

Looking ahead, Sterling Infrastructure remains optimistic about its growth prospects, particularly in the E-Infrastructure Solutions segment, driven by ongoing investments in data centers and manufacturing facilities. The company is focused on leveraging its recent acquisitions to enhance its market position and capitalize on favorable trends in infrastructure funding, particularly from federal and state programs. However, challenges such as inflation and market volatility may impact future performance, and the company is committed to managing these risks while pursuing strategic growth initiatives.