STERLING INFRASTRUCTURE Reports Q2 FY2023 Earnings Results on June 30 2023
August 20, 2023
🌥️Earnings Overview
On June 30, 2023, STERLING INFRASTRUCTURE ($NASDAQ:STRL) reported its earnings results for the second quarter of FY2023, indicating a total revenue of USD 522.3 million, a 2.3% increase from the same quarter of the previous year. Net income also rose to USD 39.5 million, representing an increase of 52.1% year-over-year.
Price History
On Monday, STERLING INFRASTRUCTURE reported its Q2 FY2023 earnings results. The stock opened the day at $61.5 and closed at $61.8, representing a 1.3% gain from its prior closing price of $61.0. The strong performance was fueled by higher demand for their projects and services in the construction and engineering sector. The higher profit was mainly attributed to cost-cutting initiatives which resulted in lower overhead costs and higher efficiency in their operations. STERLING INFRASTRUCTURE also announced plans to invest in new projects across the region to capitalize on the growing demand for their services.
The company has already secured contracts for new projects in the energy sector and they expect to continue to benefit from increased demand in the near future. Overall, STERLING INFRASTRUCTURE’s Q2 FY2023 earnings report was a positive sign for investors as it demonstrated the company’s ability to generate strong profits despite challenging market conditions. With further investments planned in the near future, the company is well-positioned to continue to deliver solid results in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sterling Infrastructure. More…
| Total Revenues | Net Income | Net Margin |
| 1.87k | 120.38 | 5.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sterling Infrastructure. More…
| Operations | Investing | Financing |
| 358.25 | -75.06 | -85.55 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sterling Infrastructure. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.57k | 1.03k | 17.46 |
Key Ratios Snapshot
Some of the financial key ratios for Sterling Infrastructure are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.8% | 35.9% | 9.9% |
| FCF Margin | ROE | ROA |
| 15.4% | 22.3% | 7.4% |
Analysis
GoodWhale conducted an analysis of STERLING INFRASTRUCTURE‘s wellbeing and found that the company is a medium risk investment in terms of both financial and business aspects. Three risk warnings were detected in the income sheet, balance sheet and cashflow statement. The income sheet showed that STERLING INFRASTRUCTURE’s revenue was relatively low compared to other companies in the same industry. The balance sheet revealed high debt-to-equity levels, indicating that the company might not be able to cover its liabilities with its current assets. Finally, the cashflow statement highlighted a lack of liquidity due to the company’s low cash reserves. If you would like to review the exact risk warnings, you can register on GoodWhale.com to gain access to this detailed report. More…
Peers
In the global infrastructure market, there is stiff competition between Sterling Infrastructure Inc and its competitors: MBL Infrastructures Ltd, Granite Construction Inc, PBA Infrastructure Ltd. All these companies are striving to get a greater share of the market by offering innovative and cost-effective solutions.
– MBL Infrastructures Ltd ($BSE:533152)
MBL Infrastructures Ltd is an Indian company that is involved in the construction and development of infrastructure projects. The company has a market cap of 2.14B as of 2022 and a Return on Equity of -2.02%. The company’s main focus is on the development of highways, bridges, airports, and other infrastructure projects.
– Granite Construction Inc ($NYSE:GVA)
Granite Construction Inc is a construction company that was founded in 1922. The company has a market cap of 1.48B and a ROE of 3.75%. The company is involved in the construction of roads, bridges, tunnels, railways, and other infrastructure.
– PBA Infrastructure Ltd ($BSE:532676)
PBA Infrastructure Ltd has a market cap of 161.2M as of 2022, a Return on Equity of 1.6%. The company is involved in the design, construction, and financing of infrastructure projects in Australia. Its projects include highways, bridges, tunnels, airports, and railroads.
Summary
Investors considering buying shares in STERLING INFRASTRUCTURE should be encouraged by the company’s strong second quarter results for FY2023. Total revenue increased 2.3% compared to the prior year, while net income jumped 52.1%, indicating a healthy and growing business. The company has shown it is able to pivot with changing market conditions and maintain a steady increase in revenue and profitability. Long-term investors who believe in the potential of the company may find STERLING INFRASTRUCTURE to be a good bet for steady growth in the future.
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