Sterling Infrastructure’s Backlog Jumps 78% to $3.01B, Visibility Hits $4.5B
Sterling Infrastructure saw a 78% surge in backlog to $3.01 billion, including $488.9 million from the CEC acquisition and a 49% organic gain. Its E-Infrastructure Solutions backlog is 84% mission-critical projects, and with $300 million in unsigned awards plus a pipeline exceeding $1 billion, work visibility reaches $4.5 billion versus 2026 revenue guidance of $3.05–3.20 billion.
1. Backlog Surge and Organic Growth
Sterling Infrastructure closed 2025 with a 78% year-over-year backlog increase to $3.01 billion, driven by a $488.9 million contribution from the CEC acquisition and an organic backlog gain of 49%.
2. Mission-critical Segment and Pipeline Visibility
The E-Infrastructure Solutions segment accounts for 84% of the backlog, centered on data centers, semiconductor fabs and large manufacturing facilities. Combined with $300 million in unsigned awards and a future-phase pipeline exceeding $1 billion, total work visibility reaches $4.5 billion.
3. 2026 Revenue Guidance and Valuation Trends
Sterling projects 2026 revenues of $3.05–3.20 billion versus $2.49 billion in 2025, reflecting robust secular demand and high-margin market focus. Shares have risen about 25.9% over three months and carry a forward 12-month P/E of 34.48, with 2026 and 2027 earnings estimates revised up by 12.6% and 18.9%, respectively.