Sterling Infrastructure Q1 2026 results showed how quickly infrastructure demand can change a small-cap growth story. Revenue jumped 92% year over year to a record $825.7 million, and the company raised full-year guidance.
The recently acquired CEC business contributed $156.1 million of revenue in the quarter, helping Sterling frame 2026 as another year of outsized growth.
What happened
Sterling reported record first-quarter results on May 4 and scheduled its earnings call for May 5 at 9:00 a.m. Eastern time. Management said the midpoint of 2026 guidance would represent 51% revenue growth, 72% adjusted diluted EPS growth and 70% adjusted EBITDA growth.
Why it matters
Infrastructure contractors have become a second-order AI and reshoring trade. Data centers, manufacturing, semiconductor sites and mission-critical infrastructure need land, power, civil work and specialized construction before servers or equipment can generate revenue.
Market impact
The scale of the revenue jump puts STRL back on screens for investors looking beyond mega-cap AI names. The risk is that rapid growth creates execution pressure, especially after an acquisition materially changes the revenue base.
Key numbers
- Q1 revenue: $825.7 million, up 92% year over year.
- CEC contribution: $156.1 million in revenue.
- 2026 guidance midpoint: 51% revenue growth.
- 2026 adjusted diluted EPS growth at midpoint: 72%.
- 2026 adjusted EBITDA growth at midpoint: 70%.
Institution angle
Institutions will focus on backlog quality, margin mix and acquisition integration. Revenue growth is powerful, but infrastructure stocks rerate only if the growth converts into cash and higher returns on capital.