D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
Investing.com - DA Davidson has reiterated its Buy rating on Sterling Construction (NASDAQ:STRL), a $9.2 billion market cap construction company, with a price target of $265.00, following the company’s stronger-than-expected earnings report. According to InvestingPro data, the stock has delivered an impressive 165% return over the past year, with analysts maintaining a Strong Buy consensus.
Sterling Construction reported adjusted earnings per share of $2.69, exceeding DA Davidson’s estimate of $2.36 and the consensus estimate of $2.25.
Revenue came in at $614.5 million, surpassing DA Davidson’s projection of $552.0 million and the consensus estimate of $554.4 million.
The company achieved adjusted EBITDA of $125.7 million compared to DA Davidson’s estimate of $114.2 million, resulting in an adjusted EBITDA margin of 20.4%, which DA Davidson described as "sector leading."
DA Davidson noted that Sterling Construction raised its guidance, which does not include the pending CEC acquisition, and highlighted that E-Infrastructure margins continue to climb.
In other recent news, Sterling Infrastructure, Inc. reported second-quarter earnings that significantly surpassed analyst expectations. The company posted adjusted earnings of $2.69 per share, exceeding the projected $2.23 per share. Revenue for the quarter reached $614.5 million, which was notably higher than the consensus estimate of $550.55 million. This figure also represents a 21% year-over-year increase when excluding the deconsolidated RHB joint venture. Additionally, Sterling Infrastructure raised its full-year guidance, citing strong performance in its E-Infrastructure and Transportation Solutions segments. These developments highlight the company’s robust financial health and operational success.
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