Stock Track | Sterling Construction Plunges Despite Q3 Earnings Beat

Stock Track

Nov 07, 2024

Sterling Construction Company (STRL) shares plummeted over 7% in pre-market trading on November 7th, despite reporting better-than-expected earnings for the third quarter of 2024.

The construction company reported adjusted earnings per share of $1.97 for the quarter ended September 30th, surpassing analyst estimates of $1.71 per share. However, revenue for the quarter came in at $593.74 million, missing expectations of $613.63 million.

The mixed results, coupled with the stock's significant year-to-date gains of nearly 79%, appear to have prompted investors to take profits. Analysts suggest that the revenue miss and potentially lofty valuation after the strong run-up may have contributed to the pre-market sell-off.

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However, revenue for the quarter came in at $593.74 million, missing expectations of $613.63 million.</p>\n\n<p>The mixed results, coupled with the stock's significant year-to-date gains of nearly 79%, appear to have prompted investors to take profits. Analysts suggest that the revenue miss and potentially lofty valuation after the strong run-up may have contributed to the pre-market sell-off.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"STRL","symbol_name":"Sterling Construction Company In","start_time":0,"source_url":"","article_id":"1141898403","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1141898403","pubTimestamp":1730987080,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Sterling Construction Company  shares plummeted over 7% in pre-market trading on November 7th, despite reporting better-than-expected earnings for the third quarter of 2024.The construction company reported adjusted earnings per share of $1.97 for the quarter ended September 30th, surpassing analyst estimates of $1.71 per share. 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