Sterling Infrastructure announced that its Board of Directors has authorized a new $400 million stock repurchase program, effective today, Nov. 12, 2025. The new authorization replaces a prior buy‑back plan that was set to expire on Dec. 5, 2025 and had $81 million of unused capacity at the time of replacement.
CEO Joe Cutillo said the expanded buyback reflects the company’s confidence in its outlook and its disciplined capital allocation strategy. “With our strong balance sheet and cash flow, we are well‑positioned to pursue an opportunistic approach to share repurchases while investing in organic growth and strategic acquisitions,” Cutillo said.
Sterling’s Q3 2025 results provide context for the new program. Revenue rose 32% year‑over‑year to $689 million, driven by a 58% increase in the E‑Infrastructure segment and a 125% jump in data‑center revenue. Gross margin widened 280 basis points to 24.7%, and the backlog grew 64% year‑over‑year to $2.6 billion, underscoring the company’s strong demand and execution.
Adjusted diluted earnings per share were $3.48, beating consensus estimates of $2.84 by $0.64, or 24%. The beat was largely due to the combination of higher revenue, margin expansion, and disciplined cost control, especially in the high‑margin E‑Infrastructure business.
The market reacted positively, with investors viewing the expanded buyback as a clear signal of management’s confidence in Sterling’s financial strength and growth prospects. The move is supported by the company’s robust cash flow generation and its focus on disciplined capital allocation.
The new program signals that Sterling is committed to enhancing shareholder value while maintaining the flexibility to invest in high‑return opportunities. By extending the repurchase window and increasing the authorized amount, the company demonstrates a balanced approach to capital allocation that aligns with its long‑term growth strategy.
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