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# Sterling Infrastructure Third-Quarter Revenue Jumps 127% To $1.56 Billion, Guidance Raised
- URL: https://www.bullished.co/sterling-infrastructure-third-quarter-revenue-jumps-127-to-1-56-billion-guidance-raised-0ed7c2c3/
- Published: 2026-10-28T20:57:32.000Z
- Updated: 2026-10-28T20:57:32.000Z
- Description: Electrical and site work drove record results while the homebuilding-linked segment shrank, and the 2026 revenue outlook now runs $4.63 billion to $4.73 billion.
- Author: Matteo Parrino
- Tags: Earnings, STRL, Industry: Industrials

[Sterling Infrastructure](https://www.bullished.co/tag/strl/), a construction contractor focused on data-center site work, electrical services, highways and home foundations, posted record third-quarter results Wednesday: [revenue of $1.56 billion](https://www.prnewswire.com/news-releases/sterling-reports-record-third-quarter-results-and-raises-full-year-2026-guidance-302922700.html?ref=bullished.co), up 127% from a year earlier. It also raised its 2026 guidance.

## Record profit on electrical muscle

Net income was $214.9 million, or $6.92 per diluted share, both up 133%, according to the [earnings release](https://www.sec.gov/Archives/edgar/data/0000874238/000087423826000122/a20261028ex991earningsrele.htm?ref=bullished.co). Adjusted net income reached $235.4 million, or $7.58 a share, and EBITDA (earnings before interest, taxes, depreciation and amortization) was $320.8 million, up 124%. The company called each of the quarter's headline metrics a record.

CEO Joe Cutillo said the revenue gain included 70% organic growth. The CEC electrical business, bought on September 1, 2025, [contributed $425.6 million](https://www.prnewswire.com/news-releases/sterling-reports-record-third-quarter-results-and-raises-full-year-2026-guidance-302922700.html?ref=bullished.co) of revenue, against $41.4 million in the partial ownership period a year earlier.

"We now believe that CEC has the potential to generate over $1 billion in revenue in 2026," Cutillo said.

## Data centers up, homebuilding down

E-Infrastructure Solutions, which does site development and electrical work for data centers, chip plants and similar projects, brought in $1.30 billion, up 212%. Its operating margin slipped to 22.6% from 25.6%, which the company attributed to the heavier CEC mix.

Transportation Solutions revenue fell 3.1% to $165.2 million as resources shifted to E-Infrastructure work, though operating income rose 24.0%. Building Solutions revenue fell 5.4% to $96.0 million and operating income fell 47.3%, which Cutillo tied to slower homebuilder activity. He expects market conditions to stay challenging through 2026 as housing affordability weighs on demand.

## Backlog and the raised outlook

Signed backlog stood at $4.14 billion at September 30, up 61%. Adding $2.00 billion of unsigned awards brings combined backlog to $6.14 billion, up 78%.

Full-year guidance now calls for revenue of $4.63 billion to $4.73 billion, diluted earnings per share of $19.16 to $19.42, and adjusted diluted earnings per share of $21.70 to $21.96\. At the midpoint, Cutillo said, that implies 88% revenue growth and 101% growth in adjusted diluted earnings per share.

For the first nine months, operating cash flow was $427.1 million, the company repurchased $107.3 million of stock, and cash stood at $216.9 million.

Management hosts its earnings call Thursday at 9:00 a.m. ET.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — STERLING INFRASTRUCTURE, INC. (STRL)](https://www.sec.gov/Archives/edgar/data/0000874238/000087423826000122/strl-20261028.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit a20261028ex991earningsrele.htm — STERLING INFRASTRUCTURE, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000874238/000087423826000122/a20261028ex991earningsrele.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit q32026earningsrelease\_ir.htm — STERLING INFRASTRUCTURE, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000874238/000087423826000122/q32026earningsrelease%5Fir.htm?ref=bullished.co) — SEC EDGAR
- [Sterling Reports Record Third Quarter Results and Raises Full Year 2026 Guidance](https://www.prnewswire.com/news-releases/sterling-reports-record-third-quarter-results-and-raises-full-year-2026-guidance-302922700.html?ref=bullished.co) — prnewswire.com

### More on Sterling Infrastructure

- [Sterling Infrastructure Hires Key Energy Services Lawyer Katherine Hargis To Replace Its Longtime General Counsel](https://www.bullished.co/sterling-infrastructure-hires-key-energy-services-lawyer-katherine-hargis-to-replace-its-d245d34e/)

[All Sterling Infrastructure (STRL) coverage →](https://www.bullished.co/tag/strl/)