Sterling Infrastructure, Inc. (‘Sterling’), through its subsidiaries, engages in E-infrastructure, transportation and building solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands.
Segments
The company operates through three segments specializing in E-Infrastructure, Transportation, and Building Solutions.
E-Infrastructure Solutions provides advanced, large-scale site development services for manufacturing...
Sterling Infrastructure, Inc. (‘Sterling’), through its subsidiaries, engages in E-infrastructure, transportation and building solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands.
Segments
The company operates through three segments specializing in E-Infrastructure, Transportation, and Building Solutions.
E-Infrastructure Solutions provides advanced, large-scale site development services for manufacturing, data centers, large-scale distribution centers, warehousing, power generation, and more.
Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail, and storm drainage systems.
Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concrete work, plumbing services, and surveys for new single-family residential builds.
Business Strategy
The company’s strategies are to solidify the base; grow high-margin products and services; and expand into adjacent markets.
Segments, Markets, and Customers
The company’s operations consist of three reportable segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions.
E-Infrastructure Solutions—The company’s E-Infrastructure Solutions segment serves large, blue-chip end users in the data center, manufacturing, e-commerce distribution center, warehousing, and power generation sectors, as well as more. The company is a provider of large-scale site development services in the Southeast, Northeast, Mid-Atlantic, and Rocky Mountain regions of the U.S. Four customers accounted for 31% of the segment’s revenue in 2024.
Transportation Solutions—The company’s Transportation Solutions segment consists of heavy highway, aviation, and rail projects. It relies heavily on federal and state infrastructure spending. The principal geographic markets of this segment are Utah, Arizona, Colorado, Nevada, Texas, and the Pacific Islands. Within these principal markets, the company’s core customers are state Departments of Transportation (‘DOT(s)’) and regional transit, airport, port, water, and railroad authorities. Four state DOTs accounted for 47% of the segment’s revenue in 2024.
Building Solutions—The company’s Building Solutions segment consists of its residential and commercial businesses. The principal geographic market for the company’s residential business is Texas, specifically Dallas-Fort Worth, Houston, and the surrounding communities. In 2021, the company expanded its residential business into the greater Phoenix area and continued this expansion in 2022 with the acquisition of the CCS business. In 2023, the company further expanded its services in the Dallas-Fort Worth market to include plumbing services for all the major plumbing phases required for new single-family residential builds, with its acquisition of PPG. The company’s core residential customer base consists of leading national, regional, and custom home builders. The company’s commercial business focuses on concrete construction of multi-family foundations, parking structures, elevated slabs, and other concrete work for leading developers and general contractors in commercial markets. Four customers, including their respective affiliates, accounted for 36% of the segment’s revenue in 2024.
Seasonality
The operations of the company’s segments are often affected by weather conditions, especially during the first and fourth quarters of its fiscal year (year ended December 31, 2024).
Government and Environmental Regulations
The company’s operations are subject to the requirements of the Occupational Safety and Health Act (‘OSHA’) and comparable state laws directed toward the protection of employees.
History
The company was founded in 1955. It was incorporated in 1991. The company was formerly known as Oakhurst Company, Inc. and changed its name to Sterling Construction Company, Inc. in 2001 and to Sterling Infrastructure, Inc. in 2022.