Filing Flows › Sterling Infrastructure (STRL) › Q2 2025
Sterling Infrastructure (STRL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Sterling Infrastructure (STRL) reported revenue of $614M for the second quarter 2025 (Q2 2025), +5% from a year earlier and +43% from the quarter before. Operating margin was 17.0%, net earnings $71.0M (11.6% of revenue).
Sterling Infrastructure, Q2 2025: revenue $614M (+5% year over year), operating margin 17.0%, net earnings $71.0M, operating cash flow $85.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $614M | +43% | +5% |
| Gross profit | $143M | +51% | +27% |
| Operating profit | $105M | +86% | +44% |
| Net earnings | $71.0M | +80% | +37% |
| Operating cash flow | $85.4M | +0.6% | -29% |
| Free cash flow | $72.1M | +8% | -22% |
What changed
Revenue was $614.5M in Q2 2025, up 5% year over year and up 43% from the previous quarter.
Gross margin was 23.3%, up 4.0 points from a year earlier. Operating profit was $104.6M, a 17.0% margin (up 4.5 points year over year). Of the extra revenue versus a year earlier, 101% reached operating profit, above the 12% margin then. Operating expenses fell 4% while revenue rose 5%. The fastest-growing cost line was General & admin (+22%). Net earnings were $71.0M, up 37% year over year. The effective tax rate was 25.7%.
Operating cash flow was $85.4M (down 29% year over year), 108% of net income including minority interests. Non-cash charges added back $17.6M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items used $16.9M. Capital expenditures of $13.3M left free cash flow of $72.1M.
Questions
What was Sterling Infrastructure's revenue in the second quarter 2025?
Sterling Infrastructure (STRL) reported revenue of $614M for the second quarter 2025 (Q2 2025), +5% from a year earlier and +43% from the quarter before.
Was Sterling Infrastructure profitable in the second quarter 2025?
Operating profit was $105M (17.0% of revenue) and net earnings $71.0M.