STRL Sterling Infrastructure (STRL) Q4 FY25 earnings call
Sterling Infrastructure delivered a strong Q4 FY25, marked by exceptional growth in E-Infrastructure and record backlog, despite facing headwinds in its Building Solutions segment. The company is strategically expanding its mission-critical capabilities and geographic footprint, particularly in Texas, leveraging its combined site development and electrical services for future growth. Management expresses confidence in multi-year opportunities, especially in data centers and semiconductors, and is actively pursuing strategic acquisitions to enhance capacity.
You’re reading a preview. Opening the full call uses 1 concall credit.
Sign in to use your monthly call allowance.
STRL operating KPIs by quarter
| KPI | This call Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Backlog | $3BSigned backlog at the end of the quarter totaled $3 billion, a 78% increase from year-end 2024.Source: earnings call transcript | $3.8BSigned backlog at the end of the quarter totaled $3.8 billion, a 78% year-over-year increase and combined backlog grew 131% to reach $5.2 billion.Source: earnings call transcript | $4.3BSigned backlog at quarter end totaled $4.3 billion, up 116% year-over-year and combined backlog increased 150% to reach $5.6 billion.Source: earnings call transcript | +13.2% |
| Backlog Transportation Solutions | $1.1BWe ended the quarter with Transportation Solutions backlog at $1.1 billion, and 81% year-over-year increase, driven by strong award activity and the conversion of unsigned backlog to sign backlog.Source: earnings call transcript | $1.04BWe ended the quarter with Transportation Solutions backlog at $1.04 billion, a 20% year-over-year increase.Source: earnings call transcript | $969MWe ended the quarter with Transportation Solutions backlog at $969 million, a 35% year-over-year increase.Source: earnings call transcript | -6.8% |
| Combined backlog | $3.3BCombined backlog of $3.3 billion increased 81% from prior year-end or 42%, excluding CEC.Source: earnings call transcript | $5.2BSigned backlog at the end of the quarter totaled $3.8 billion, a 78% year-over-year increase and combined backlog grew 131% to reach $5.2 billion.Source: earnings call transcript | $5.6BSigned backlog at quarter end totaled $4.3 billion, up 116% year-over-year and combined backlog increased 150% to reach $5.6 billion.Source: earnings call transcript | +7.7% |
| Book-to-bill ratio | 1.64 ratioFourth quarter 2025 book-to-burn ratios were 1.64x for backlog and 0.81x for combined backlog.Source: earnings call transcript | 2.1 ratioFirst quarter 2026 book-to-burn ratios were 2.1x for backlog and 3.5x for combined backlog.Source: earnings call transcript | 1.4 ratioSecond quarter 2026 book-to-burn ratios were 1.4x for backlog and 1.3x for combined backlog exclusive of the impact of the Stone Ridge acquisition.Source: earnings call transcript | -33.3% |
| Book-to-bill ratio Combined backlog | 0.81 ratioFourth quarter 2025 book-to-burn ratios were 1.64x for backlog and 0.81x for combined backlog.Source: earnings call transcript | 3.5 ratioFirst quarter 2026 book-to-burn ratios were 2.1x for backlog and 3.5x for combined backlog.Source: earnings call transcript | 1.3 ratioSecond quarter 2026 book-to-burn ratios were 1.4x for backlog and 1.3x for combined backlog exclusive of the impact of the Stone Ridge acquisition.Source: earnings call transcript | -62.9% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.