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Sterling Awarded $10.5 Million Additional Phase Of Work At Phoenix’s Sky Harbor International Airport


March 31, 2021

Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its subsidiary, J. Banicki Construction, Inc. (“JBC”), has been awarded a $10.5 million aviation contract by the City of Phoenix Aviation Department and the FAA to reconstruct an additional portion of the apron work at Terminal 4, South 1 Concourse at Phoenix Sky Harbor International Airport.

This is yet another phase in the final stage of the $71 million project that the Company began work on at Sky Harbor in 2015.  The project consists of constructing a new concrete aircraft apron around the currently under construction Terminal 4 South.  All of the work will be performed in conjunction and cooperation with the ongoing construction of the Terminal 4 Concourse.  The job will involve the construction of approximately 48,000 square yards of airfield concrete apron and other paving and additional apron related infrastructure.

“We are glad to have been selected to replace the apron at Sky Harbor’s Terminal 4 South, especially after winning the project to reconstruct the apron at the North Concourse earlier this month,” stated Joe Cutillo, Sterling’s CEO.  “Our long history and strong track record at Sky Harbor was one of the leading drivers to winning this job and continuing our ongoing work at Terminal 4, which began in 2015.  This project will help improve aircraft ground traffic and safety at one of the busiest airports in the nation.”

Sterling Construction Company, Inc. operates through a variety of subsidiaries within three segments specializing in Heavy Civil, Specialty Services, and Residential projects in the United States (the “U.S.”), primarily across the southern U.S., the Rocky Mountain States, California and Hawaii, as well as other areas with strategic construction opportunities. Heavy Civil includes infrastructure and rehabilitation projects for highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems. Specialty Services projects include construction site excavation and drainage, drilling and blasting for excavation, foundations for multi-family homes, parking structures and other commercial concrete projects. Residential projects include concrete foundations for single-family homes.

This press release includes certain statements that fall within the definition of “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties, including overall economic and market conditions, federal, state and local government funding, competitors’ and customers’ actions, and weather conditions, which could cause actual results to differ materially from those anticipated, 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. Any prediction by the Company is only a statement of management’s belief at the time the prediction is made. There can be no assurance that any prediction once made will continue thereafter to reflect management’s belief, and the Company does not undertake to update publicly its predictions or to make voluntary additional disclosures of nonpublic information, whether as a result of new information, future events or otherwise.

Sterling Construction Company, Inc.
Ron Ballschmiede, Chief Financial Officer
Investor Relations Counsel:
The Equity Group Inc.
Fred Buonocore, CFA  212-836-9607
Mike Gaudreau  212-836-9620

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