Sterling Construction (STRL) Tops Q2 EPS by 3c, Beats on Revenues; Offers FY17 Revenue Guidance

Sterling Construction (NASDAQ: STRL) reported Q2 EPS of $0.13, $0.03 better than the analyst estimate of $0.10. Revenue for the quarter came in at $246.4 million versus the consensus estimate of $231.43 million.

Guidance for 2017

Mr. Cutillo continued, “We continue to expect 2017 revenues to be between $850 million and $880 million, and our net income attributable to Sterling common stock holders to be between $9 million and $11 million. We expect our full year 2017 average common shares outstanding to be approximately 27 million.”

GUIDANCE:

Sterling Construction sees Q3 2017 revenue of $850-880 million, versus the consensus of $867.8 million.

Second Quarter 2017 Financial Results Compared to Second Quarter 2016:

• Revenues were $246.4 million compared to $189.6 million;
• Gross margin was 10.2% of revenues compared to 8.2%;
• Operating income was $8.4 million compared to $3.4 million;
• Net income attributable to Sterling common stockholders was $3.7 million compared to $2.0 million;
• The second quarter net income attributable to Sterling common stockholders was negatively impacted by non-recurring transactions and facility rationalization costs of approximately $2.6 million; and,
• Net income per diluted share attributable to common stockholders was $0.13 compared to net income per diluted share of $0.09.

For earnings history and earnings-related data on Sterling Construction (STRL) click here.

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