Sterling Infrastructure (STRL) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Sterling Infrastructure published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Sterling Infrastructure reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted diluted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Sterling Infrastructure bought CEC, an electrical contractor, on September 1, 2025, so the year-ago quarter holds only one month of CEC. Release figures put organic revenue growth at 70% against 127% reported.
• Net income is the figure attributable to Sterling common stockholders, after $14.7 million of net income attributable to noncontrolling interests.

Source: Sterling Infrastructure Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Sterling Infrastructure splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Sterling Infrastructure's E-Infrastructure Solutions revenue was $1.3 billion in Q3 2026, up 212% from $417 million in Q3 2025, 83% of total revenue.
• Sterling Infrastructure's Transportation Solutions revenue was $165 million in Q3 2026, down 3% from $170 million in Q3 2025, 11% of total revenue.
• Sterling Infrastructure's Building Solutions revenue was $96.0 million in Q3 2026, down 5% from $101 million in Q3 2025, 6% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Sterling Infrastructure also guides 2026 adjusted diluted EPS of $21.70 to $21.96 and adjusted EBITDA of $970 million to $981 million.

In its Q3 2026 release, Sterling Infrastructure said:

“Revenue of $4.63 billion to $4.73 billion”

“Net Income of $596 million to $604 million”

“Diluted EPS of $19.16 to $19.42”

“We now believe that CEC has the potential to generate over $1 billion in revenue in 2026.”

Source: Sterling Infrastructure Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the STRL forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenues and diluted EPS attributable to Sterling common stockholders, each as first reported in that quarter's release.

We do not hold a confirmed date for Sterling Infrastructure's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Sterling Infrastructure's revenues rose 127% to $1,563.9 million in Q3 2026, from $689.0 million. Sterling put organic growth at 70%; the rest came mostly from CEC, the electrical contractor it bought on September 1, 2025, which contributed $425.6 million against $41.4 million in the one month it was owned a year earlier. (Sterling Infrastructure Q3 2026 release, Oct 28, 2026)

E-Infrastructure Solutions, which does site development and electrical work for data centers, semiconductor fabrication, manufacturing and distribution centers, is now 83% of revenue, against 60% a year earlier. Its revenues rose 212% to $1,302.7 million, and Sterling said Site Development revenue rose 133%. Mission-critical projects, including data center campuses, manufacturing and semiconductor facilities, make up approximately 95% of the segment's signed backlog, unsigned awards and next phases in design. (Sterling Infrastructure Q3 2026 release, Oct 28, 2026)

Transportation Solutions revenues fell 3.1% to $165.2 million as Sterling reallocated resources toward E-Infrastructure work. Within it, Heavy Highway grew to $115.6 million and Aviation to $24.5 million, while Other Services fell to $25.1 million from $45.9 million. (Sterling Infrastructure Q3 2026 release, Oct 28, 2026; Sterling Infrastructure Form 10-Q, Q3 2026, Oct 29, 2026)

Building Solutions, concrete foundations and plumbing mostly for home builders, fell 5.4% to $96.0 million on slower homebuilder activity. Residential revenue was $74.4 million, against $80.5 million. The segment is concentrated: its top four customers accounted for 45% of segment revenue in 2025, though no single customer exceeded 10% of Sterling's consolidated revenues. (Sterling Infrastructure Q3 2026 release, Oct 28, 2026; Sterling Infrastructure Form 10-Q, Q3 2026, Oct 29, 2026; Sterling Infrastructure Form 10-K, 2025, Feb 26, 2026)

By contract type, lump-sum contracts brought in $976.0 million, 62% of the quarter's revenue, against $418.8 million a year earlier. Fixed-unit price contracts were $295.4 million. (Sterling Infrastructure Form 10-Q, Q3 2026, Oct 29, 2026)

Sterling Infrastructure's GAAP diluted EPS was $6.92 in Q3 2026, against $2.97, and adjusted diluted EPS was $7.58, against $3.48. Adjusted net income of $235.4 million excludes $11.2 million of non-cash stock-based compensation, $10.3 million of intangible asset amortization, $2.1 million of acquisition related costs, $2.5 million of earn-out expense and a $1.3 million loss on extinguishment of debt, less a $6.8 million tax effect. (Sterling Infrastructure Q3 2026 release, Oct 28, 2026)

The debt loss came from repaying the term loan under Sterling's prior credit agreement, which wrote off $1.3 million of unamortized issuance costs. Long-term debt fell to $95.1 million at September 30, 2026, from $275.9 million at December 31, 2025. (Sterling Infrastructure Form 10-Q, Q3 2026, Oct 29, 2026; Sterling Infrastructure Q3 2026 release, Oct 28, 2026)

Diluted shares were 31,071 thousand, against 30,960 thousand. Sterling repurchased 106 thousand shares for $72.0 million in the quarter and 175 thousand for $107.3 million over nine months. The effective income tax rate was 24.9%, which Sterling attributes mainly to non-deductible compensation, state income taxes and other permanent differences. (Sterling Infrastructure Form 10-Q, Q3 2026, Oct 29, 2026; Sterling Infrastructure Q3 2026 release, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Sterling Infrastructure gives full-year guidance in each release and raised it with Q3 2026. It now expects 2026 revenue of $4.63 billion to $4.73 billion, net income of $596 million to $604 million and diluted EPS of $19.16 to $19.42. On an adjusted basis it expects diluted EPS of $21.70 to $21.96 and adjusted EBITDA of $970 million to $981 million. (Sterling Infrastructure Q3 2026 release, Oct 28, 2026)

Sterling said the midpoint represents 88% revenue growth and 101% growth in adjusted diluted EPS over 2025, and that CEC alone could generate over $1 billion of revenue in 2026. It expects Building Solutions markets to remain challenging through 2026 as housing affordability weighs on demand. (Sterling Infrastructure Q3 2026 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Sterling Infrastructure, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Sterling Infrastructure's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning STRL is on is STRL a buy or a sell?, what analysts expect next is on the STRL forecast, and what the company does is on the Sterling Infrastructure (STRL) stock page.

Every number on this page can be traced to a document Sterling Infrastructure published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.