Short answer
STERLING INFRASTRUCTURE, INC. (STRL) filed its Q3 2025 10-Q quarterly report on Nov 4, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $689M (up 16.0% year over year) with net income of $92M.
Q3 2025 key financials · XBRL
- Revenue
- $689M
- +16.0% YoY · +12.1% QoQ
- Net income
- $92M
- +50.2% YoY · +29.7% QoQ
- Operating margin
- 18.2%
- Gross margin
- 24.7%
- EPS (diluted)
- $2.97
- +50.8% YoY · +28.6% QoQ
Source: XBRL data from the STERLING INFRASTRUCTURE, INC. (STRL) Q3 2025 10-Q on SEC EDGAR. USD.
STERLING INFRASTRUCTURE, INC. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Risk Factors
- NEW risk: RHB deconsolidation triggered by December 31, 2024 amendment, shifting from consolidated results to equity method accounting starting 2025
- UPDATED risk: Backlog increased to $2.58B at 9/30/25 from $1.69B at 12/31/24, margin improved to 18.0% from 16.7%, impacting project mix and revenue recognition
- Regulatory risk: One Big Beautiful Bill Act enacted July 4, 2025 made tax code changes; no material impact on effective income tax rate of ~25% anticipated
- Operational risk: Building Solutions segment faces demand decline and lower revenues ($300.7M vs $318.2M) due to near-term residential homebuilder affordability challenges
- Financial risk: Significant cash outflow $531.1M in investing activities nine months 2025 from acquisitions (CEC $445M, Drake $25M) pressure on liquidity and capital allocation
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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