Sterling Infrastructure delivered robust third-quarter results, highlighted by a 32% revenue growth driven by a strong performance in E-Infrastructure Solutions, and a significant 64% year-over-year increase in backlog.
- Revenue rose to $700 million, propelled by a 58% increase in E-Infrastructure Solutions, with 42% of this growth organic.
- Adjusted EPS grew 58% to $3.48, and adjusted EBITDA was up 47% at $156 million, aided by expanded gross margins of 24.7%.
- Backlog reached $2.6 billion, increasing 64% year-over-year, excluding CEC, with a strong E-Infrastructure backlog growth of 97%.
- CEC acquisition enhanced service portfolio and contributed $41.4 million in revenue for September.
- Strong operating cash flow of $84 million reflects continued financial health despite challenges in the residential market.
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