Sterling authorizes new $400 million stock repurchase program

THE WOODLANDS, Texas - Sterling Infrastructure, Inc. (NASDAQ:STRL) announced Wednesday that its Board of Directors has authorized a new $400 million stock repurchase program effective immediately. The $11.7 billion market cap company has seen its shares surge over 126% year-to-date, though InvestingPro analysis suggests the stock is currently trading above its Fair Value.

The program, which will run for 24 months, replaces the company’s previous repurchase initiative that was set to expire on December 5, 2025. The prior program had $81 million of remaining capacity at the time of replacement.

Under the new authorization, Sterling may repurchase shares through open market transactions, privately negotiated deals, or other means in accordance with applicable laws. The company noted that the timing and amount of any repurchases will be at management’s discretion.

"This expanded share repurchase authorization reflects our continued confidence in Sterling’s outlook," said Joe Cutillo, Sterling’s CEO. "With our strong balance sheet and cash flow, we are well-positioned to pursue a balanced capital allocation strategy that supports our investments in organic growth and strategic acquisitions, while returning capital to shareholders."Sterling’s confidence appears well-founded, with the company generating $361.6 million in free cash flow over the last twelve months and maintaining a moderate debt-to-equity ratio of 0.34. InvestingPro data shows the company’s cash flows can sufficiently cover interest payments, one of several ProTips available with a subscription.

The infrastructure company emphasized that the program does not obligate it to repurchase any shares, and the Board may modify, increase, suspend or terminate the repurchase program at any time.

Sterling Infrastructure operates across three segments—E-Infrastructure, Transportation, and Building Solutions—primarily in the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions of the United States and the Pacific Islands.

The information in this article is based on a press release statement from the company.

In other recent news, Sterling Construction Company Inc. reported impressive third-quarter results for 2025, surpassing analyst expectations. The company achieved earnings per share (EPS) of $3.48, significantly above the forecasted $2.84, representing a 22.54% surprise. Additionally, Sterling Construction’s revenue reached $689 million, exceeding the anticipated $618.8 million. These results highlight a strong performance for the company in the latest quarter. Analysts had projected lower figures, making the actual outcomes noteworthy for investors. The company’s ability to outperform expectations may influence future analyst assessments. Sterling Construction’s results are part of the recent developments that investors are closely monitoring.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.