Sterling Infrastructure, Inc. (STRL)
Pitch Summary: Sterling rode an extraordinary, AI/data-center and public-spend super-cycle to record growth and margins, but that purple patch looks set to normalize. Mix has pivoted toward data-center site work (now 60%+ of E-Infra backlog), a customer set that increasingly optimizes for cost as schedules stabilize. Backlog growth has slowed and bookings decelerated sequentially, while […]
