Sterling Infrastructure's stock surged 67.4% on earnings, driven by significantly better-than-expected growth in revenue, backlog expansion, and margin improvement that far outpaced market expectations.

• Revenue grew 92% year over year, with adjusted diluted EPS up 120%, showcasing substantial operational leverage.
• Adjusted EBITDA more than doubled while margins expanded by over 150 basis points to a first quarter record of 20%.
• Signed backlog rose 78% year over year to $3.8 billion; combined backlog increased 131% to $5.2 billion, underpinning multi-year visibility.
• E-Infrastructure segment led growth with 174% revenue increase, fueled by data center demand and high-margin mission-critical projects.
• Transportation Solutions and Building Solutions grew more modestly, by 10% and 3% respectively, with Building Solutions facing ongoing residential market headwinds.