Sterling Infrastructure’s Backlog Soars 78% to $3B with $4.5B Pipeline
Sterling Infrastructure closed 2025 with a signed backlog of $3.0 billion, up 78% year-over-year, plus $301 million in unsigned awards and over $1 billion of future-phase opportunities. Shares jumped 20.8% over three months as analysts lifted earnings estimates by 14.6% in the past 60 days.
1. Backlog Growth
Sterling Infrastructure ended 2025 with a signed backlog of $3.0 billion, marking a 78% increase from the prior year. This record backlog underscores strong demand for the company’s mission-critical and e-infrastructure services.
2. Project Pipeline Composition
In addition to the signed projects, Sterling holds $301 million in unsigned awards and over $1 billion in future-phase opportunities, bringing total potential work to approximately $4.5 billion. Key areas include data center developments and large-scale transportation projects.
3. Share Performance and Analyst Revisions
Shares of Sterling Infrastructure have climbed 20.8% in the past three months, outperforming the broader market. Analysts have raised earnings estimates by 14.6% over the last 60 days, contributing to a top-tier Momentum Score of A.