Filing Flows › Sterling Infrastructure (STRL) › Q3 2026 › vs Q2 2026
Sterling Infrastructure (STRL) Q3 2026 vs Q2 2026 (quarter over quarter)
Sterling Infrastructure's revenue rose $396M (+34%) from $1.2B in Q2 2026 to $1.6B in Q3 2026. The biggest changes: E-Infrastructure Solutions Revenues +$398M (+44%); Building Solutions Revenues −$10.5M (-10%); Transportation Solutions Revenues +$8.5M (+5%). Gross margin 24.1% against 24.8% (-0.7 pts).
Sterling Infrastructure, Q3 2026: revenue $1.6B (+127% year over year), operating margin 19.6%, net earnings $215M, operating cash flow $99.1M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 24.1% | 24.8% | -0.7 pts |
| Operating margin | 19.6% | 18.8% | +0.9 pts |
| Net margin | 13.7% | 13.3% | +0.4 pts |
| Free cash flow margin | 3.4% | 9.6% | -6.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| E-Infrastructure Solutions Revenues | $1.3B | $905M | $398M | +44% |
| Transportation Solutions Revenues | $165M | $157M | $8.5M | +5% |
| Building Solutions Revenues | $96.0M | $106M | −$10.5M | -10% |
| Revenue | $1.6B | $1.2B | $396M | +34% |
| Gross profit | $377M | $290M | $87.3M | +30% |
| Cost of revenue | $1.2B | $878M | $308M | +35% |
| Operating profit | $307M | $219M | $87.6M | +40% |
| Operating expenses | $70.4M | $70.7M | −$259K | -0.4% |
| Pre-tax earnings | $306M | $220M | $85.8M | +39% |
| General & admin | $61.4M | $53.1M | $8.2M | +15% |
| Other operating costs | $9.1M | $17.6M | −$8.5M | -48% |
| Net earnings | $215M | $156M | $59.1M | +38% |
| Minority interests | $14.7M | $12.8M | $1.9M | +15% |
| Income tax | $76.1M | $51.3M | $24.7M | +48% |
| Depreciation & amortization | $27.8M | $25.0M | $2.8M | +11% |
| Share-based compensation | $11.2M | $8.1M | $3.0M | +37% |
| Working capital & other | $155M | $26.5M | $128M | +484% |
| Operating cash flow | $99.1M | $162M | −$63.4M | -39% |
| Free cash flow (OCF − capex) | $53.3M | $112M | −$59.2M | -53% |
| Capital expenditures | $45.8M | $50.0M | −$4.2M | -8% |
Questions
How much did Sterling Infrastructure's revenue grow quarter over quarter in Q3 2026?
Sterling Infrastructure's revenue rose $396M (+34%) from $1.2B in Q2 2026 to $1.6B in Q3 2026.
What drove Sterling Infrastructure's revenue change in Q3 2026?
E-Infrastructure Solutions Revenues +$398M (+44%); Building Solutions Revenues −$10.5M (-10%); Transportation Solutions Revenues +$8.5M (+5%).