Sterling Infrastructure Stock Rockets as Data Center Boom Sends Q1 Revenue Up 92%
Sterling Infrastructure shares jumped nearly 47% late Tuesday morning after first-quarter revenue surged 92% to $825.7 million, driven by data center and semiconductor projects. Net income rose to $96 million, or $3.09 per share. The company raised its 2026 revenue forecast to up to $3.8 billion and said E-Infrastructure work made up 72% of first-quarter revenue. Backlog reached $3.8 billion at March 31.