Sterling Construction Company Inc (STRL) Financial Statements (2024 and earlier)
Company Profile
Business Address |
1800 HUGHES LANDING BLVD. THE WOODLANDS, TX 77380 |
State of Incorp. | DE |
Fiscal Year End | December 31 |
Industry (SIC) | 16 - Heavy Construction Other Than Building Construction Contractors (benchmarking) |
More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
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ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 181,544 | 81,840 | 66,185 | 45,733 | 94,095 | 83,953 | |||
Cash and cash equivalents | 181,544 | 81,840 | 66,185 | 45,733 | 94,095 | 83,953 | |||
Receivables | 262,646 | 232,153 | 177,424 | 248,247 | 145,026 | 133,931 | |||
Inventory, net of allowances, customer advances and progress billings | 3,159 | 4,621 | |||||||
Inventory | 3,159 | 4,621 | |||||||
Capitalized contract cost | 41,542 | ✕ | |||||||
Costs in excess of billings | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 37,112 | ||
Other current assets | 29,139 | 20,492 | 16,306 | 11,790 | 8,074 | 7,529 | |||
Other undisclosed current assets | 123,925 | 100,206 | 101,628 | 51,751 | 10,720 | 11,380 | |||
Total current assets: | 597,254 | 434,691 | 361,543 | 357,521 | 302,616 | 278,526 | |||
Noncurrent Assets | |||||||||
Finance lease, right-of-use asset, after accumulated amortization | 423 | 572 | 777 | 997 | ✕ | ✕ | |||
Operating lease, right-of-use asset | 59,415 | 24,520 | 16,515 | 13,979 | ✕ | ✕ | |||
Property, plant and equipment | (157,419) | 116,030 | 51,999 | 54,406 | |||||
Intangible assets, net (including goodwill) | 561,815 | 563,014 | 436,901 | 448,215 | 127,649 | 130,049 | |||
Goodwill | 262,692 | 259,791 | 192,014 | 191,892 | 85,231 | 85,231 | |||
Intangible assets, net (excluding goodwill) | 299,123 | 303,223 | 244,887 | 256,323 | 42,418 | 44,818 | |||
Deferred income tax assets | 7,817 | ✕ | ✕ | ||||||
Other noncurrent assets | 7,654 | 4,455 | 3,250 | 183 | 309 | 317 | |||
Other undisclosed noncurrent assets | 372,478 | 203,744 | 125,891 | 25,015 | |||||
Total noncurrent assets: | 844,366 | 796,305 | 591,151 | 604,419 | 179,957 | 184,772 | |||
TOTAL ASSETS: | 1,441,620 | 1,230,996 | 952,694 | 961,940 | 482,573 | 463,298 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 146,023 | 167,785 | 113,214 | 152,532 | 113,868 | 115,940 | |||
Taxes payable | ✕ | ✕ | 1,212 | 318 | 81 | ||||
Employee-related liabilities | ✕ | ✕ | 22,803 | 18,013 | 13,727 | 9,448 | 9,054 | ||
Accounts payable | 121,887 | 144,982 | 95,201 | 137,593 | 99,426 | 97,457 | |||
Accrued liabilities | 24,136 | 4,676 | 9,348 | ||||||
Deferred revenue | 239,297 | 127,932 | 114,019 | 85,011 | ✕ | ✕ | |||
Debt | 32,758 | 28,378 | 77,622 | 49,568 | 2,899 | 3,978 | |||
Billings in excess of cost | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 62,374 | ||
Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 62,407 | ✕ | ||
Other liabilities | 8,966 | 18,972 | 9,629 | 6,393 | |||||
Other undisclosed current liabilities | 19,567 | 8,693 | 7,400 | ||||||
Total current liabilities: | 446,611 | 351,760 | 321,884 | 293,504 | 179,174 | 182,292 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 398,811 | 444,643 | 300,579 | 398,163 | 79,117 | 86,160 | |||
Long-term debt, excluding current maturities | 398,735 | 428,588 | 291,249 | 390,627 | 79,117 | 86,160 | |||
Finance lease, liability | 76 | 224 | 372 | 560 | ✕ | ✕ | |||
Liabilities, other than long-term debt, including: | 96,878 | 19,475 | 10,584 | 619 | 1,229 | 1,271 | |||
Deferred income tax liabilities | 51,659 | 14,656 | ✕ | ✕ | |||||
Other liabilities | 5,116 | 4,819 | 10,584 | 619 | |||||
Operating lease, liability | 40,103 | 15,831 | 8,958 | 6,976 | ✕ | ✕ | |||
Other undisclosed liabilities, other than long-term debt | 1,229 | 1,271 | |||||||
Other undisclosed noncurrent liabilities | 21,521 | 54,891 | 50,918 | 48,443 | 50,793 | 47,386 | |||
Total noncurrent liabilities: | 517,210 | 519,009 | 362,081 | 447,225 | 131,139 | 134,817 | |||
Total liabilities: | 963,821 | 870,769 | 683,965 | 740,729 | 310,313 | 317,109 | |||
Equity | |||||||||
Equity, attributable to parent | 474,599 | 358,767 | 267,270 | 219,918 | 164,401 | 141,333 | |||
Common stock | 306 | 298 | 283 | 283 | 271 | 271 | |||
Treasury stock, value | (1,445) | (6,142) | (4,731) | ||||||
Additional paid in capital | 287,914 | 280,274 | 256,423 | 251,019 | 233,795 | 231,183 | |||
Accumulated other comprehensive loss | (1,723) | (5,264) | (209) | ||||||
Retained earnings (accumulated deficit) | 186,379 | 79,918 | 17,273 | (25,033) | (64,934) | (90,121) | |||
Equity, attributable to noncontrolling interest | 3,200 | 1,460 | 1,459 | 1,293 | 7,859 | 4,856 | |||
Total equity: | 477,799 | 360,227 | 268,729 | 221,211 | 172,260 | 146,189 | |||
TOTAL LIABILITIES AND EQUITY: | 1,441,620 | 1,230,996 | 952,694 | 961,940 | 482,573 | 463,298 |
Income Statement (P&L) ($ in thousands)
12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
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Revenues | 1,769,436 | 1,581,766 | 1,427,412 | 1,126,278 | 1,037,667 | 957,958 | ||
Cost of revenue (Cost of Goods and Services Sold) | (1,494,869) | (1,367,009) | (1,236,043) | (1,018,484) | (927,335) | (868,866) | ||
Gross profit: | 274,567 | 214,757 | 191,369 | 107,794 | 110,332 | 89,092 | ||
Operating expenses | (101,407) | (93,847) | (83,877) | (58,206) | (50,620) | (48,351) | ||
Other operating expense, net | (13,290) | (13,623) | (12,600) | (11,837) | (17,101) | (14,565) | ||
Operating income: | 159,870 | 107,287 | 94,892 | 37,751 | 42,611 | 26,176 | ||
Interest and debt expense | 2,428 | 2,012 | (3,249) | (7,728) | (3,250) | (755) | ||
Other undisclosed loss from continuing operations before equity method investments, income taxes | (9,486) | |||||||
Income from continuing operations before income taxes: | 162,298 | 109,299 | 91,643 | 30,023 | 39,361 | 15,935 | ||
Income tax expense (benefit) | (41,707) | (24,900) | (22,471) | 26,216 | (1,738) | (118) | ||
Other undisclosed loss from continuing operations | (22,134) | |||||||
Income from continuing operations: | 98,457 | 84,399 | 69,172 | 56,239 | 37,623 | 15,817 | ||
Income before gain (loss) on sale of properties: | ✕ | ✕ | 84,399 | 69,172 | 56,239 | 37,623 | 15,817 | |
Income from discontinued operations | 9,744 | |||||||
Other undisclosed net loss | (19,276) | (26,268) | (15,544) | (8,083) | ||||
Net income: | 108,201 | 65,123 | 42,904 | 40,695 | 29,540 | 15,817 | ||
Net loss attributable to noncontrolling interest | (794) | (4,353) | (4,200) | |||||
Other undisclosed net loss attributable to parent | (1,740) | |||||||
Net income attributable to parent: | 106,461 | 65,123 | 42,904 | 39,901 | 25,187 | 11,617 | ||
Other undisclosed net loss available to common stockholders, basic | (2,478) | (598) | ||||||
Net income available to common stockholders, diluted: | 106,461 | 62,645 | 42,306 | 39,901 | 25,187 | 11,617 |
Comprehensive Income ($ in thousands)
12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
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Net income: | 108,201 | 65,123 | 42,904 | 40,695 | 29,540 | 15,817 | ||
Other comprehensive income (loss) | 1,723 | 5,631 | (8,041) | (209) | ||||
Other undisclosed comprehensive income (loss) | (2,090) | 2,986 | ||||||
Comprehensive income: | 109,924 | 68,664 | 37,849 | 40,486 | 29,540 | 15,817 | ||
Comprehensive loss, net of tax, attributable to noncontrolling interest | (1,740) | (2,478) | (598) | (4,353) | (4,200) | |||
Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (794) | 4,353 | 4,200 | |||||
Comprehensive income, net of tax, attributable to parent: | 108,184 | 66,186 | 37,251 | 39,692 | 29,540 | 15,817 |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.