Sterling Infrastructure, Inc. (NASDAQ:STRL) reported first-quarter results that topped expectations and raised its full-year 2026 guidance, sending shares higher in premarket trading Tuesday.

Earnings

Revenue rose to $825.7 million, up 92% from a year earlier and above the $603.6 million consensus estimate.

The increase was aided by the recently acquired CEC business, which contributed $156.1 million.

Adjusted earnings were $3.59 per share, exceeding analysts' estimate of $2.01.

Operating cash flow was $165.6 million. Cash and equivalents totaled $511.9 million as of March 31, 2026.

Backlog climbed to $3.80 billion, up 78% year over year, including a $592.0 million contribution from CEC. Excluding CEC, backlog rose 51%.

Combined backlog increased 131% to $5.15 billion, or 46% on an organic basis.

The company repurchased $12.3 million of shares during the quarter at an ...