Description

Why Sterling Infrastructure Data Centers Matter More Than The Quarter!

Sterling Infrastructure reported a strong start to fiscal 2026, highlighted by robust revenue growth of 92% and adjusted diluted earnings per share growth of 120% in the first quarter. Adjusted EBITDA more than doubled, with margins expanding over 150 basis points to a record 20% for the quarter. This performance was driven primarily by the company’s E-Infrastructure segment, where first quarter revenue increased 174%, including over 100% organic growth. The data center market proved to be the primary growth driver, with improved margins despite the addition of the CEC acquisition, which contributed 78% revenue growth compared to its prior year quarter. Site development operations also more than doubled in revenue and showed expanded margins. The combined backlog grew 131% year-over-year, totaling $5.2 billion, with signed backlog at $3.8 billion. Future phase opportunities and unsigned awards add further visibility, with total potential work nearing $6.5 billion.