Sterling Reports Strong 2018 Third Quarter Results
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Sterling Construction (STRL) Misses Q3 EPS by 2c, Revenues Miss
November 5, 2018 4:31 PM ESTSterling Construction (NASDAQ: STRL) reported Q3 EPS of $0.33, $0.02 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $291.3 million versus the consensus estimate of $301.9 million.
CEO Remarks and Outlook:
Sterling generated 25% year-over-year growth in earnings during the third quarter despite severe weather in our Texas market, stated Joe Cutillo, Sterlings Chief Executive Officer. Record setting rainfall hampered the ability of our Texas heavy civil operation and, to an even greater extent our residential concrete construction businesss ability to execute on projects during August and September. The good... More
