M&A - STERLING INFRASTRUCTURE, INC.

Form Type: 10-Q

Filing Date: 2025-05-06

Corporate Action: Acquisition

Type: New

Accession Number: 000087423825000069

Filing Summary: Sterling Infrastructure, Inc. reported its financial results for the quarter ending March 31, 2025, highlighting revenues of $430,949,000, a slight decrease from $440,360,000 in the same quarter of 2024. The company achieved a gross profit of $94,840,000 with an operating income of $56,076,000. Sterling's net income for the quarter was $39,477,000, translating to a net income per share of $1.29, an increase from $1.00 in the previous year. Notable expenses included $34,631,000 for general and administrative costs and $4,503,000 for intangible asset amortization. Additionally, Sterling completed the acquisition of Drake Concrete, LLC for $25,000,000, with terms including an earn-out opportunity over four years, contributing to the company's Building Solutions segment. Total assets were reported at $2,034,539,000, and total liabilities stood at $1,207,612,000, resulting in total stockholders' equity of $826,927,000.