Sterling, A 2023 Barron’s Roundtable Stock Pick!
THE WOODLANDS, TX
January 25, 2023
January 25, 2023 – Sterling Infrastructure, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that the Company is listed as one of the 26 companies on Barron’s Stock Picks list for 2023. Each year, members of the roundtable collectively scour the market to find stocks with strong business fundamentals, savvy managers, and multiple attributes to prosper.
According to Barron’s Roundtable Pros, Sterling is poised to shine in 2023 due to the Company’s management that continues to drive the strategic focus it initiated in 2016 for solidifying the base, growing higher-margin business segments, and achieving bottom-line growth. Sterling’s earnings growth from 93 cents a share in 2018 to an expected $3.14 in 2022 was highlighted during the roundtable session. Also mentioned were the Company’s good bidding procedures, risk reduction and play on the infrastructure act as contributing factors to the Company’s growth prospects, strong financing and free cash flow. Barron’s online publication featuring the roundtable can be found at https://www.barrons.com/articles/roundtable-stock-picks-toyota-paramount-warner-bros-51674255255?reflink=desktopwebshare_permalink
Sterling operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and the Rocky Mountain States, and Hawaii, as well as other areas with strategic construction opportunities. E-Infrastructure Solutions projects develop advanced, large-scale site development systems and services for data centers, e-commerce distribution centers, warehousing, transportation, energy and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater and storm drainage systems. Building Solutions projects include residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs and other concrete work. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.
Joe Cutillo, CEO, “We build and service the infrastructure that enables our economy to run, our people to move and our country to grow.”
Important Information for Investors and Stockholders
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements that are considered forward-looking statements within the meaning of the federal securities laws. Any such statements are subject to risks and uncertainties, including those risks identified in the Company’s filings with the Securities and Exchange Commission. Accordingly, such statements should be considered in light of these risks. The forward-looking statements speak only as of the date made, and we undertake no obligation to publicly update or revise any forward-looking statements for any reason, whether as a result of new information, future events or developments, changed circumstances, or otherwise, notwithstanding any changes in our assumptions, changes in business plans, actual experience or other changes. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.
Sterling Infrastructure, Inc.
Ron Ballschmiede, Chief Financial Officer
Investor Relations Contact:
The Equity Group Inc.
Jeremy Hellman, CFA