Sterling Construction (STRL) stock surged 6.15% in pre-market trading on Wednesday, following the company's better-than-expected fourth-quarter 2024 earnings results and an optimistic outlook for fiscal 2025.
For the fourth quarter ended December 31, 2024, Sterling Construction reported adjusted earnings of $1.46 per diluted share, surpassing analysts' consensus estimate of $1.33. However, the company's quarterly revenue of $498.8 million fell short of expectations of $531.3 million.
Looking ahead, Sterling Construction issued an upbeat guidance for 2025, projecting adjusted earnings in the range of $7.90 to $8.40 per share on revenue between $2 billion and $2.15 billion. This bullish outlook exceeded Wall Street's expectations of $6.50 in earnings per share on $2.06 billion in revenue, fueling investor optimism and driving the pre-market stock price surge.
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