Sterling Infrastructure Stock Soared on Tuesday - Here's What Transpired The Move

Sterling Infrastructure, Inc. STRL shares popped Tuesday. The surge comes a day after the company reported its second-quarter financial results.

What To Know: The company reported quarterly earnings of $1.27 per share, which beat the analyst consensus estimate of 93 cents, a 47.67% increase over earnings of 86 cents per share from last year. 

It reported quarterly sales of $522.33 million, which beat the analyst consensus estimate of $491.50 million, a 2.30% increase over sales of $510.57 million in the same period last year.

Sterling estimates FY23 earnings per share to be between $4.00 and $4.20, versus the $3.52 estimate. Revenue is anticipated to be between $1.95 billion and $2.05 billion, versus the $1.95 billion estimate.

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STRL Price Action: Shares of STRL closed higher by 22.30% at $75.58 at the time of publication, according to Benzinga Pro.

Image by Lorenzo Cafaro from Pixabay