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How Sterling Infrastructure (STRL) makes money
Sterling Infrastructure (STRL) made $1.6B of revenue in the third quarter 2026 (Q3 2026), +127% from a year earlier. E-Infrastructure Solutions Revenues brought in $1.3B (83%); Transportation Solutions Revenues brought in $165M (11%); Building Solutions Revenues brought in $96.0M (6%). Of every dollar of revenue, 24¢ was left as gross profit, 20¢ was left as operating profit, 14¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| E-Infrastructure Solutions Revenues | $1.3B | 83.3% | +44% | +212% |
| Transportation Solutions Revenues | $165M | 10.6% | +5% | -3% |
| Building Solutions Revenues | $96.0M | 6.1% | -10% | -5% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.6B | 100.0% |
| Cost of revenue | $1.2B | 75.9% |
| Gross profit | $377M | 24.1% |
| Operating expenses | $70.4M | 4.5% |
| Operating profit | $307M | 19.6% |
| Income tax | $76.1M | 4.9% |
| Net earnings | $215M | 13.7% |
| Operating cash flow | $99.1M | 6.3% |
| Free cash flow | $53.3M | 3.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.6B | +127% |
| Q2 2026 | $1.2B | +90% |
| Q1 2026 | $826M | +92% |
| Q4 2025 | $756M | +52% |
| Q3 2025 | $689M | +16% |
| Q2 2025 | $614M | +5% |
| Q1 2025 | $431M | -2% |
From Sterling Infrastructure's 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Sterling Infrastructure make money?
Sterling Infrastructure (STRL) made $1.6B of revenue in the third quarter 2026 (Q3 2026), +127% from a year earlier. E-Infrastructure Solutions Revenues brought in $1.3B (83%); Transportation Solutions Revenues brought in $165M (11%); Building Solutions Revenues brought in $96.0M (6%). Of every dollar of revenue, 24¢ was left as gross profit, 20¢ was left as operating profit, 14¢ was left as net earnings.
What is Sterling Infrastructure's biggest business?
E-Infrastructure Solutions Revenues: $1.3B in the third quarter 2026, 83% of revenue, +212% from a year earlier.
What is Sterling Infrastructure's profit margin?
Net earnings were $215M, 13.7% of revenue, in the third quarter 2026; the operating margin was 19.6%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.