THE
WOODLANDS, Texas, Oct. 31,
2023 /PRNewswire/ -- Sterling Infrastructure, Inc.
(NasdaqGS: STRL) ("Sterling" or "the Company") today announced
awards in its E-Infrastructure Solutions segment totaling over
$260 million during the third quarter
of 2023. Sterling's E-Infrastructure site development projects
include services for industrial facilities, data centers, multi-use
facilities, e-commerce distribution centers and warehouses.
E-Infrastructure Solutions is Sterling's largest and highest-margin
segment.
CEO Remarks
"We continue to see strong demand
related to data centers and industrial development. The data center
market was the largest contributor to awards in the quarter, as
projects driven by AI and other technology advancements move
forward," stated Joe Cutillo,
Sterling's CEO. "Our E-Infrastructure Solutions backlog at quarter
end remained very strong, reflecting the combination of our recent
large industrial project awards and the robust data center
market. We believe that activity related to the onshoring of
next-generation manufacturing will remain a key driver for our
E-Infrastructure Solutions business for the forseeable future."
About Sterling
Sterling Infrastructure,
Inc., ("Sterling," "the Company," "we," "our" or "us"), a
Delaware corporation, operates
through a variety of subsidiaries within three segments
specializing in E-Infrastructure, Transportation and Building
Solutions in the United States,
primarily across the Southern, Northeastern, Mid-Atlantic and Rocky
Mountain regions and Hawaii.
E-Infrastructure Solutions provides advanced, large-scale site
development services for manufacturing, data centers, e-commerce
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 projects include
residential and commercial concrete foundations for single-family
and multi-family homes, parking structures, elevated slabs and
other concrete work. From strategy to operations, we are committed
to sustainability by operating responsibly to safeguard and improve
society's quality of life. Caring for our people and our
communities, our customers and our investors – that is The Sterling
Way.
Joe Cutillo,
CEO, "We build and service the infrastructure that enables our
economy to run, our people to move and our country to
grow."
Important Information for Investors and
Stockholders
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains statements that are considered
forward-looking statements within the meaning of the federal
securities laws. Any such statements are subject to risks and
uncertainties, including those risks identified in the Company's
filings with the Securities and Exchange Commission. Accordingly,
such statements should be considered in light of these risks. The
forward-looking statements speak only as of the date made, and we
undertake no obligation to publicly update or revise any
forward-looking statements for any reason, whether as a result of
new information, future events or developments, changed
circumstances, or otherwise, notwithstanding any changes in our
assumptions, changes in business plans, actual experience or other
changes. These cautionary statements qualify all forward-looking
statements attributable to us or persons acting on our behalf.
Company Contact:
Sterling Infrastructure, Inc.
Noelle Dilts, VP of Investor
Relations and Corporate Strategy
281-214-0795
Noelle.dilts@strlco.com
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SOURCE Sterling Infrastructure, Inc.