Sterling Construction Earnings: Everything You Must Know Now

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Sterling Construction Co. Inc. (NASDAQ:STRL) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Sterling Construction Co. Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.39 in the quarter versus EPS of $-0.17 in the year-earlier quarter.

Revenue: Rose 12.77% to $111 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Sterling Construction Co. Inc. reported adjusted EPS loss of $0.39 per share. By that measure, the company missed the mean analyst estimate of $-0.09. It beat the average revenue estimate of $102 million.

Quoting Management: Peter MacKenna, President and Chief Executive Officer of Sterling Construction commented, “Our first quarter results masked the favorable trends that we have been experiencing, both in our end markets and within our Company, and are not indicative of how we see the year progressing. New bookings were strong during the quarter, and this momentum continued into the second quarter with in excess of $100 million of bids won as of this date. The competitive environment appears to have moderated somewhat, and our margins have been improving. This is evident in our recent new project awards, which have been booked at gross margins of greater than 10%, as well as the performance on the work won since 2011. As we continue to work our way through the remaining problem contracts and win additional awards with more attractive economics, we should experience a meaningful improvement in profitability.”

Key Stats (on next page)…

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business