Sterling Infrastructure (STRL) 10-Q 3 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-31993
Entity Registrant Name	STERLING CONSTRUCTION COMPANY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	25-1655321
Entity Address, Address Line One	1800 Hughes Landing Blvd.
Entity Address, City or Town	The Woodlands
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77380
City Area Code	281
Local Phone Number	214-0777
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	STRL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		30,263,433
Entity Central Index Key	0000874238
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues	$ 410,320	$ 315,316
Cost of revenues	(354,181)	(270,284)
Gross profit	56,139	45,032
General and administrative expense	(23,072)	(17,099)
Intangible asset amortization	(3,568)	(2,866)
Acquisition related costs	(255)	0
Other operating expense, net	(975)	(2,312)
Operating income	28,269	22,755
Interest income	10	14
Interest expense	(4,587)	(6,004)
Gain (loss) on extinguishment of debt, net	2,428	(337)
Income before income taxes	26,120	16,428
Income tax expense	(6,597)	(4,760)
Net income	19,523	11,668
Less: Net income attributable to noncontrolling interests	(271)	(1,113)
Net income attributable to Sterling common stockholders	$ 19,252	$ 10,555
Net income per share attributable to Sterling common stockholders:
Basic (in dollars per share)	$ 0.64	$ 0.37
Diluted (in dollars per share)	$ 0.64	$ 0.37
Weighted average common shares outstanding:
Basic (in shares)	29,964	28,279
Diluted (in shares)	30,112	28,763

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 19,523	$ 11,668
Other comprehensive income, net of tax
Change in interest rate swap, net of tax	1,563	895
Total comprehensive income	21,086	12,563
Less: Comprehensive income attributable to noncontrolling interests	(271)	(1,113)
Comprehensive income attributable to Sterling common stockholders	$ 20,815	$ 11,450

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents ($26,449 and $35,378 related to variable interest entities (“VIEs”))	$ 80,395	$ 81,840
Accounts receivable ($24,537 and $26,176 related to VIEs)	226,397	232,153
Contract assets ($14,348 and $10,249 related to VIEs)	87,865	83,310
Receivables from and equity in construction joint ventures ($7,581 and $7,058 related to VIEs)	19,292	16,896
Other current assets ($206 and $1,087 related to VIEs)	21,941	20,492
Total current assets	435,890	434,691
Property and equipment, net ($10,189 and $10,420 related to VIEs)	212,603	204,316
Operating lease right-of-use assets, net ($5,702 and $5,097 related to VIEs)	37,344	24,520
Goodwill ($1,501 and $1,501 related to VIEs)	252,353	259,791
Other intangibles, net	300,055	303,223
Other non-current assets, net	4,488	4,455
Total assets	1,242,733	1,230,996
Current liabilities:
Accounts payable ($23,593 and $23,611 related to VIEs)	143,400	144,982
Contract liabilities ($15,461 and $22,583 related to VIEs)	116,182	127,932
Current maturities of long-term debt ($0 and $4,857 related to VIEs)	30,368	28,230
Current portion of long-term lease obligations ($2,370 and $2,334 related to VIEs)	10,117	8,841
Accrued compensation ($3,397 and $2,388 related to VIEs)	25,815	22,803
Other current liabilities ($871 and $889 related to VIEs)	13,632	18,972
Total current liabilities	339,514	351,760
Long-term debt ($0 and $81 related to VIEs)	417,331	428,588
Long-term lease obligations ($3,332 and $2,763 related to VIEs)	27,326	15,831
Members’ interest subject to mandatory redemption and undistributed earnings	55,754	55,115
Deferred tax liability, net	20,758	14,656
Other long-term liabilities	4,410	4,819
Total liabilities	865,093	870,769
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock, par value $0.01 per share; 38,000 shares authorized, 30,263 and 29,838 shares issued and outstanding	302	298
Additional paid in capital	276,597	280,274
Retained earnings	99,170	79,918
Accumulated other comprehensive loss	(160)	(1,723)
Total Sterling stockholders’ equity	375,909	358,767
Noncontrolling interests	1,731	1,460
Total stockholders’ equity	377,640	360,227
Total liabilities and stockholders’ equity	$ 1,242,733	$ 1,230,996

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Cash and cash equivalents	$ 80,395	$ 81,840
Accounts receivable	226,397	232,153
Contract assets	87,865	83,310
Sterling’s receivables from and equity in construction joint ventures	19,292	16,896
Other current assets	21,941	20,492
Property and equipment, net	212,603	204,316
Operating lease right-of-use assets	37,344	24,520
Goodwill	252,353	259,791
Accounts payable	143,400	144,982
Contract liabilities	116,182	127,932
Current maturities of long-term debt	30,368	28,230
Current portion of long-term lease obligations	10,117	8,841
Accrued compensation	25,815	22,803
Other current liabilities	13,632	18,972
Total long-term debt	417,331	428,588
Long-term lease obligations	$ 27,326	$ 15,831
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	38,000	38,000
Common stock issued (in shares)	30,263	30,263
Common stock outstanding (in shares)	29,838	29,838
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents	$ 26,449	$ 35,378
Accounts receivable	24,537	26,176
Contract assets	14,348	10,249
Sterling’s receivables from and equity in construction joint ventures	7,581	7,058
Other current assets	206	1,087
Property and equipment, net	10,189	10,420
Operating lease right-of-use assets	5,702	5,097
Goodwill	1,501	1,501
Accounts payable	23,593	23,611
Contract liabilities	15,461	22,583
Current maturities of long-term debt	0	4,857
Current portion of long-term lease obligations	2,370	2,334
Accrued compensation	3,397	2,388
Other current liabilities	871	889
Total long-term debt	0	81
Long-term lease obligations	$ 3,332	$ 2,763

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 19,523	$ 11,668
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,767	8,305
Amortization of debt issuance costs and non-cash interest	556	660
Gain on disposal of property and equipment	(228)	(68)
(Gain) loss on debt extinguishment, net	(2,428)	337
Deferred taxes	5,640	4,142
Stock-based compensation	3,836	1,835
Change in fair value of interest rate swap	(90)	(22)
Changes in operating assets and liabilities (Note 16)	(19,393)	11,233
Net cash provided by operating activities	19,183	38,090
Cash flows from investing activities:
Capital expenditures	(14,969)	(11,209)
Proceeds from sale of property and equipment	406	208
Net cash used in investing activities	(14,563)	(11,001)
Cash flows from financing activities:
Repayments of debt	(5,928)	(30,543)
Distributions to noncontrolling interest owners	0	(1,959)
Net cash used in financing activities	(5,928)	(32,502)
Net change in cash, cash equivalents, and restricted cash	(1,308)	(5,413)
Cash, cash equivalents, and restricted cash at beginning of period	88,693	72,642
Cash, cash equivalents, and restricted cash at end of period	87,385	67,229
Less: restricted cash (Other current assets)	(6,990)	(5,827)
Cash and cash equivalents at end of period	80,395	61,402
Non-cash items:
Capital expenditures	$ 2,457	$ 3,131

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Total Sterling Stockholders’ Equity	Common Stock	Additional Paid in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Non-controlling Interests
Beginning balance (in shares) at Dec. 31, 2020			28,184		95
Beginning balance at Dec. 31, 2020	$ 268,729	$ 267,270	$ 283	$ 256,423	$ (1,445)	$ 17,273	$ (5,264)	$ 1,459
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,668	10,555				10,555		1,113
Change in interest rate swap	895	895					895
Stock-based compensation	1,835	1,835		1,835
Distributions to owners	(1,959)							(1,959)
Issuance of stock (in shares)			668		(111)
Issuance of stock	144	144	$ 5	(1,602)	$ 1,741
Shares withheld for taxes (in shares)			246		16
Shares withheld for taxes	(5,619)	(5,619)	$ (2)	(5,321)	$ (296)
Ending balance (in shares) at Mar. 31, 2021			28,606		0
Ending balance at Mar. 31, 2021	275,693	275,080	$ 286	251,335	$ 0	27,828	(4,369)	613
Beginning balance (in shares) at Dec. 31, 2021			29,838
Beginning balance at Dec. 31, 2021	360,227	358,767	$ 298	280,274		79,918	(1,723)	1,460
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	19,523	19,252				19,252		271
Change in interest rate swap	1,563	1,563					1,563
Stock-based compensation	3,521	3,521		3,521
Issuance of stock (in shares)			688
Issuance of stock	192	192	$ 7	185
Shares withheld for taxes (in shares)			263
Shares withheld for taxes	(7,386)	(7,386)	$ (3)	(7,383)
Ending balance (in shares) at Mar. 31, 2022			30,263
Ending balance at Mar. 31, 2022	$ 377,640	$ 375,909	$ 302	$ 276,597		$ 99,170	$ (160)	$ 1,731

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. NATURE OF OPERATIONS Business Summary Sterling Construction Company, Inc. (“Sterling,” “the Company,” “we,” “our” or “us”), a Delaware corporation, operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States (the “U.S.”), primarily across the Southern, Northeastern, Mid-Atlantic and the Rocky Mountain States, California and Hawaii, as well as other areas with strategic construction opportunities. E-Infrastructure Solutions projects develop advanced, large-scale site development systems and services for data centers, e-commerce distribution centers, warehousing, transportation, energy and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater and storm drainage systems. Building Solutions projects include residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs and other concrete work. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Presentation Basis— The accompanying Condensed Consolidated Financial Statements are presented in accordance with accounting policies generally accepted in the United States (“GAAP”) and reflect all wholly owned subsidiaries and those entities the Company is required to consolidate. See Note 5 - Consolidated 50% Owned Subsidiaries and Note 6 - Construction Joint Ventures for further discussion of the Company’s consolidation policy for those entities that are not wholly owned. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation have been included. All significant intercompany accounts and transactions have been eliminated in consolidation. Values presented within tables (excluding per share data) are in thousands. Reclassifications have been made to historical financial data in the Condensed Consolidated Financial Statements to conform to the current year presentation. Estimates and Judgments— The preparation of the accompanying Condensed Consolidated Financial Statements in conformance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include the recognition of revenue and earnings from construction contracts over time, the valuation of long-lived assets, goodwill and purchase accounting estimates. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates. Significant Accounting Policies Consistent with Regulation S-X Rule 10-1(a), the Company has omitted significant accounting policies in this quarterly report that would duplicate the disclosures contained in the Company’s annual report on Form 10-K for the year ended December 31, 2021 under “Part II, Item 8. - Notes to Consolidated Financial Statements.” This quarterly report should be read in conjunction with the Company’s most recent annual report on Form 10-K. Accounts Receivable— Receivables are generally based on amounts billed to the customer in accordance with contractual provisions. Receivables are written off based on the individual credit evaluation and specific circumstances of the customer, when such treatment is warranted. The Company performs a review of outstanding receivables, historical collection information and existing economic conditions to determine if there are potential uncollectible receivables. At March 31, 2022 and December 31, 2021, our allowance for our estimate of expected credit losses was zero. Contracts in Progress— For performance obligations satisfied over time, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Typically, Sterling bills for advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. However, the Company occasionally bills subsequent to revenue recognition, resulting in contract assets. Many of the contracts under which the Company performs work also contain retainage provisions. Retainage refers to that portion of our billings held for payment by the customer pending satisfactory completion of the project. Unless reserved, the Company assumes that all amounts retained by customers under such provisions are fully collectible. At March 31, 2022 and December 31, 2021, contract assets included $33,016 and $47,308 of retainage, respectively, and contract liabilities included $66,361 and $46,882 of retainage, respectively. Retainage on active contracts is classified as current regardless of the term of the contract and is generally collected within one year of the completion of a contract. We anticipate collecting approximately 64% of our March 31, 2022 retainage during the next twelve months. These assets and liabilities are reported on the Condensed Consolidated Balance Sheet within “Contract assets” and “Contract liabilities” on a contract-by-contract basis at the end of each reporting period. Revenue recognized for the three months ended March 31, 2022 that was included in the contract liability balance on December 31, 2021 was $227,079. Revenue recognized for the three months ended March 31, 2021 that was included in the contract liability balance on December 31, 2020 was $155,558. Cash and Restricted Cash— Our cash is comprised of highly liquid investments with maturities of three months or less. Restricted cash of $6,990 and $6,853 is included in “Other current assets” on the Condensed Consolidated Balance Sheets at March 31, 2022 and December 31, 2021, respectively. This primarily represents cash deposited by the Company into separate accounts and designated as collateral for standby letters of credit in the same amount in accordance with contractual agreements.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	3. ACQUISITIONS General— On December 30, 2021 (the “Closing Date”), Sterling completed the acquisition (the “Acquisition”) of Petillo LLC and its related entities (collectively, “Petillo”). The Acquisition is accounted for using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations . Purchase Consideration— Sterling completed the Acquisition for a purchase price of $196,763, net of cash acquired, detailed as follows: Cash consideration transferred, net of cash acquired $ 175,000 Equity consideration transferred (759 shares at $26.87 per share (1) ) 20,406 Target working capital adjustment 1,357 Total consideration $ 196,763 (1) Sterling’s closing stock price on December 29, 2021. Preliminary Purchase Price Allocation— The aggregate purchase price noted above was allocated to the assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon a preliminary external appraisal and valuation of certain assets, including specifically identified intangible assets. The excess of the purchase price over the estimated fair value of the net tangible and identifiable intangible assets acquired totaling $60,339 was recorded as goodwill. This goodwill represents the value of expected future earnings and cash flows, as well as the synergies created by the integration of the new business within our organization, including cross-selling opportunities to help strengthen our existing service offerings and expand our market position. Goodwill and intangibles of approximately $130,000 related to the Acquisition, are deductible and amortizable for tax purposes over the next 15 years. The following table summarizes our purchase price allocation at the Acquisition Closing Date, net of cash acquired: Net tangible assets: Accounts receivable $ 45,016 Contract assets 5,953 Other current assets 193 Property and equipment, net 48,175 Other non-current assets, net 5,498 Accounts payable (21,810) Contract liabilities (8,585) Other current liabilities (8,216) Total net tangible assets 66,224 Identifiable intangible assets 70,200 Goodwill 60,339 Total consideration transferred $ 196,763 During the three months ended March 31, 2022 the total consideration and purchase price allocation changed by $7,800, primarily due to an updated estimate of the tax basis step-up payment. The purchase price allocation above is subject to further change when additional information is obtained. We have not finalized our assessment of the fair values primarily for intangible assets and property and equipment. We intend to finalize the purchase price allocation as soon as practicable within the measurement period, but in no event later than one year following the Closing Date of the Acquisition. Our final purchase price allocation may result in additional adjustments to various other assets and liabilities, including the residual amount allocated to goodwill during the measurement period. Identifiable Intangible Assets — Intangible assets identified as part of the Acquisition are reflected in the table below and are recorded at their estimated fair value, as determined by the Company’s management, based on available information which includes a preliminary valuation from external experts. The estimated useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to future cash flows. Weighted Average Life (Years) December 30, 2021 Customer relationships 25 $ 42,700 Trade names 25 27,500 Total $ 70,200 Supplemental Pro Forma Information (Unaudited) — The following unaudited pro forma combined financial information (“the pro forma financial information”) gives effect to the Acquisition, accounted for as a business combination using the purchase method of accounting. The pro forma financial information reflects the Acquisition and related events as if they occurred at the beginning of the period and includes adjustments to (1) include compensation expense associated with the employment agreement the Company entered into with Mr. Petillo, (2) include additional intangible asset amortization associated with the Acquisition, (3) include additional interest expense associated with the Acquisition and (4) include the pro forma results of Petillo for the period ending March 31, 2021. This pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the pro forma events taken place on the dates indicated. Further, the pro forma financial information does not purport to project the future operating results of the combined company following the Acquisition. Three Months Ended March 31, 2021 Pro forma revenue $ 343,539 Pro forma net income attributable to Sterling $ 10,814

Revenue From Customers

Revenue From Customers	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue From Customers	4. REVENUE FROM CUSTOMERS Backlog — The following table presents the Company’s backlog, by segment: March 31, December 31, E-Infrastructure Solutions Backlog $ 541,150 $ 432,613 Transportation Solutions Backlog 898,679 963,267 Building Solutions Backlog - Commercial 87,055 97,235 Total Backlog $ 1,526,884 $ 1,493,115 The Company expects to recognize approximately 68% of its backlog as revenue during the next twelve months, and the balance thereafter. Revenue Disaggregation — The following tables present the Company’s revenue disaggregated by major end market and contract type: Three Months Ended March 31, Revenues by major end market 2022 2021 E-Infrastructure Solutions Revenues $ 168,927 $ 96,572 Heavy Highway 112,745 99,516 Aviation 17,583 27,222 Water Containment and Treatment 19,887 14,219 Other 10,284 6,097 Transportation Solutions Revenues 160,499 147,054 Residential 54,270 44,174 Commercial 26,624 27,516 Building Solutions Revenues 80,894 71,690 Total Revenues $ 410,320 $ 315,316 Revenues by contract type Fixed-Unit Price $ 156,310 $ 177,547 Lump-Sum 197,868 91,155 Residential and Other 56,142 46,614 Total Revenues $ 410,320 $ 315,316 Each of these contract types presents advantages and disadvantages. Typically, the Company assumes more risk with lump-sum contracts, however, these types of contracts offer additional profits if the work is completed for less than originally estimated. Under fixed-unit price contracts, the Company’s profit may vary if actual labor-hour costs vary significantly from the negotiated rates. Also, because some contracts can provide little or no fee for managing material costs, the components of contract cost can impact profitability. Variable Consideration The Company has projects that it is in the process of negotiating, or awaiting final approval of, unapproved change orders and claims with its customers. The Company is proceeding with its contractual rights to recoup additional costs incurred from its customers based on completing work associated with change orders, including change orders with pending change order pricing, or claims related to significant changes in scope which resulted in substantial delays and additional costs in completing the work. Unapproved change order and claim information has been provided to the Company’s customers and negotiations with the customers are ongoing. If additional progress with an acceptable resolution is not reached, legal action will be taken. Based upon the Company’s review of the provisions of its contracts, specific costs incurred and other related evidence supporting the unapproved change orders and claims, together in some cases as necessary with the views of the Company’s outside claim consultants, the Company concluded it was appropriate to include in project price amounts of $13,985 and $13,905, at March 31, 2022 and December 31, 2021, respectively, relating to unapproved change orders and claims. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Contract Estimates Accounting for long-term contracts and programs involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, the Company estimates the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognizes such profit over the life of the contract. Contract estimates are based on various assumptions to project the outcome of future events that often span several years. These assumptions include labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials and the performance of subcontractors. Changes in job performance, job conditions and estimated profitability, including those changes arising from contract penalty provisions and final contract settlements may result in revisions to costs and income and are recognized in the period in which the revisions are determined. Changes in contract estimates and scope resulted in a net increase of $15,400 and $8,300 for the three months ended March 31, 2022 and 2021, respectively, included in “Operating income” on the Condensed Consolidated Statements of Operations.

Consolidated 50% Owned Subsidia

Consolidated 50% Owned Subsidiaries	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Consolidated 50% Owned Subsidiaries	5. CONSOLIDATED 50% OWNED SUBSIDIARIES The Company has 50% ownership interests in two subsidiaries (“Myers” and “RHB”) that it fully consolidates as a result of its exercise of control over the entities. The earnings attributable to the 50% portions the Company does not own were approximately $1,000 and $1,800 for the three months ended March 31, 2022 and 2021, respectively, and are eliminated within “Other operating expense, net” in the Condensed Consolidated Statements of Operations. Any undistributed earnings for partners are included in “Members’ interest subject to mandatory redemption and undistributed earnings” within the Condensed Consolidated Balance Sheets and are mandatorily payable at the time of the noncontrolling owners’ death or permanent disability. These two subsidiaries have individual mandatory redemption provisions which, under circumstances outlined in the partner agreements, are certain to occur and obligate the Company to purchase each partner’s remaining 50% interests for $20,000 ($40,000 in the aggregate). The Company has purchased two separate $20,000 death and permanent total disability insurance policies to mitigate the Company’s cash draw if such events were to occur. These purchase obligations are also recorded in “Members’ interest subject to mandatory redemption and undistributed earnings” on the Condensed Consolidated Balance Sheets. The liability consists of the following: March 31, December 31, Members’ interest subject to mandatory redemption $ 40,000 $ 40,000 Net accumulated earnings 15,754 15,115 Total liability $ 55,754 $ 55,115 The Company must determine whether any of its entities, including these two 50% owned subsidiaries, in which it participates, is a VIE. The Company determined that Myers is a VIE and that the Company is the primary beneficiary because, pursuant to the terms of the Myers Operating Agreement, the Company is exposed to the majority of potential losses of the partnership. Summary financial information for Myers is as follows: Three Months Ended March 31, 2022 2021 Revenues $ 44,358 $ 27,957 Operating (loss) income $ (1,448) $ 718 Net income $ 1,737 $ 352

Construction Joint Ventures

Construction Joint Ventures	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Construction Joint Ventures	6. CONSTRUCTION JOINT VENTURES Joint Ventures with a Controlling Interest —We consolidate any venture that is determined to be a VIE for which we are the primary beneficiary, or which we otherwise effectively control. The equity held by the remaining owners and their portions of net income (loss) are reflected in stockholders’ equity on the Condensed Consolidated Balance Sheets line item “Noncontrolling interests” and in the Condensed Consolidated Statements of Operations line item “Net income attributable to noncontrolling interests,” respectively. The Company determined that a joint venture in which the Company’s Ralph L. Wadsworth Construction subsidiary is a 51% owner is a VIE and the Company is the primary beneficiary. Summary financial information for this construction joint venture is as follows: Three Months Ended March 31, 2022 2021 Revenues $ 7,853 $ 8,242 Operating income $ 552 $ 2,527 Net income $ 554 $ 2,528 Joint Ventures with a Noncontrolling Interest —The Company accounts for unconsolidated joint ventures using a pro-rata basis in the Condensed Consolidated Statements of Operations and as a single line item (“Receivables from and equity in construction joint ventures”) in the Condensed Consolidated Balance Sheets. This method is a permissible modification of the equity method of accounting which is a common practice in the construction industry. Combined financial amounts of joint ventures in which the Company has a noncontrolling interest and the Company’s share of such amounts which are included in the Company’s Condensed Consolidated Financial Statements are shown below: March 31, December 31, Current assets $ 119,561 $ 130,898 Current liabilities $ (74,243) $ (91,121) Sterling’s receivables from and equity in construction joint ventures $ 19,292 $ 16,896 Three Months Ended March 31, 2022 2021 Revenues $ 58,559 $ 49,417 Income before tax $ 6,777 $ 4,635 Sterling’s noncontrolling interest: Revenues $ 26,608 $ 21,944 Income before tax $ 3,067 $ 2,135 The caption “Receivables from and equity in construction joint ventures” includes undistributed earnings and receivables owed to the Company. Undistributed earnings are typically released to the joint venture partners after the customer accepts the project as completed and the warranty period, if any, has passed. Other —The use of joint ventures exposes us to a number of risks, including the risk that our partners may be unable or unwilling to provide their share of capital investment to fund the operations of the venture or complete their obligations to us, the venture, or ultimately, the customer. Differences in opinions or views among joint venture partners could also result in delayed decision-making or failure to agree on material issues, which could adversely affect the business and operations of the joint venture. In addition, agreement terms may subject us to joint and several liability for our venture partners, and the failure of our venture partners to perform their obligations could impose additional performance and financial obligations on us. The aforementioned factors could result in unanticipated costs to complete the projects, liquidated damages or contract disputes, including claims against our partners.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	7. PROPERTY AND EQUIPMENT Property and equipment are summarized as follows: March 31, December 31, Construction and transportation equipment $ 332,289 $ 316,381 Buildings and improvements 24,298 24,042 Land 3,891 3,891 Office equipment 3,314 3,270 Total property and equipment 363,792 347,584 Less accumulated depreciation (151,189) (143,268) Total property and equipment, net $ 212,603 $ 204,316 Depreciation Expense— Depreciation expense is primarily included within cost of revenues and was $8,199 and $5,439 for the three months ended March 31, 2022 and 2021, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	8. OTHER INTANGIBLE ASSETS The following table presents our acquired finite-lived intangible assets, including the weighted-average useful lives for each major intangible asset category and in total: March 31, 2022 December 31, 2021 Weighted Gross Accumulated Gross Accumulated Customer relationships 25 $ 275,323 $ (28,634) $ 274,923 $ (25,838) Trade names 24 57,607 (5,380) 57,607 (4,726) Non-compete agreements 5 2,487 (1,348) 2,487 (1,230) Total 24 $ 335,417 $ (35,362) $ 335,017 $ (31,794) The Company’s intangible amortization expense was $3,568 and $2,866 for the three months ended March 31, 2022 and 2021, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	9. DEBT The Company’s outstanding debt was as follows: March 31, December 31, Term Loan Facility $ 441,081 $ 446,888 Revolving Credit Facility — — Credit Facility 441,081 446,888 Other debt 11,441 15,309 Total debt 452,522 462,197 Less - Current maturities of long-term debt (30,368) (28,230) Less - Unamortized debt issuance costs (4,823) (5,379) Total long-term debt $ 417,331 $ 428,588 Credit Facility —Our amended credit agreement (as amended, the “Credit Agreement”) provides the Company with senior secured debt financing (collectively, the “Credit Facility”) consisting of (i) a senior secured first lien term loan facility (the “Term Loan Facility”) in the aggregate principal amount of $540,000 and (ii) a senior secured first lien revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of $75,000 (with a $75,000 limit for the issuance of letters of credit and a $15,000 sublimit for swing line loans). The obligations under the Credit Facility are secured by substantially all assets of the Company and the subsidiary guarantors, subject to certain permitted liens and interests of other parties. The Credit Facility will mature on October 2, 2024. The Term Loan Facility bears interest at either the base rate plus a margin, or at a one to twelve-month LIBOR rate plus a margin, at the Company’s election. At March 31, 2022, the Company calculated interest using a one-month LIBOR rate and an applicable margin of 0.21% and 2.50% per annum, respectively. We continue to utilize an interest rate swap to hedge against $200,000 of the outstanding Term Loan Facility, which resulted in a weighted average interest rate of approximately 3.28% per annum during the three months ended March 31, 2022. Scheduled principal payments on the Term Loan Facility are made quarterly and total approximately $23,200, $31,900, and $26,100 for each of the years ending 2022, 2023 and 2024, respectively. A final payment of all principal and interest then outstanding on the Term Loan Facility is due on October 2, 2024. The Company is required to make mandatory prepayments on the Credit Facility with proceeds received from issuances of debt, events of loss and certain dispositions, and is also required to prepay the Credit Facility with a certain percentage of its excess cash flow within 5 days after receipt of its annual audited financial statements. For the three months ended March 31, 2022, the Company made scheduled term loan payments of $5,806. The Revolving Credit Facility bears interest at the same rate options as the Term Loan Facility. In addition to interest on debt borrowings, we are assessed quarterly commitment fees on the unutilized portion of the facility as well as letter of credit fees on outstanding instruments. At March 31, 2022, we had no outstanding borrowings under the $75,000 Revolving Credit Facility. Debt Issuance Costs —The costs associated with the Credit Facility are reflected on the Condensed Consolidated Balance Sheets as a direct reduction from the related debt liability and amortized over the term of the facility. Amortization of debt issuance costs was $556 and $660 for the three months ended March 31, 2022 and 2021, respectively, and was recorded as interest expense. Other Debt —Other debt has primarily consisted of a $10,000 subordinated promissory note to one of the Plateau sellers and short-term Paycheck Protection Program loans (the “PPP Loans”) received by the Company’s two 50% owned subsidiaries. During the first quarter of 2022, the Small Business Administration forgave the final outstanding PPP Loan of approximately $4,800, of which the Company recorded a gain on debt extinguishment of $2,428 for its 50% portion of the gain. Compliance and Other —The Credit Agreement contains various affirmative and negative covenants that may, subject to certain exceptions, restrict the ability of us and our subsidiaries to, among other things, grant liens, incur additional indebtedness, make loans, advances or other investments, make non-ordinary course asset sales, declare or pay dividends or make other distributions with respect to equity interests, purchase, redeem or otherwise acquire or retire capital stock or other equity interests, or merge or consolidate with any other person, among various other things. In addition, the Company is required to maintain certain financial covenants. As of March 31, 2022, we were in compliance with all of our restrictive and financial covenants. The Company’s debt is recorded at its carrying amount in the Condensed Consolidated Balance Sheets. At March 31, 2022 and December 31, 2021, the carrying values of our debt outstanding approximated the fair values.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	10. FINANCIAL INSTRUMENTS Interest Rate Derivative —We continue to utilize a swap arrangement to hedge against interest rate variability associated with $200,000 of the $441,081 outstanding under the Term Loan Facility. The Company has designated its interest rate swap agreement as a cash flow hedging derivative. To the extent the derivative instrument is effective and the documentation requirements have been met, changes in fair value are recognized in other comprehensive income (loss) (“OCI”) until the underlying hedged item is recognized in earnings. At March 31, 2022, the fair value of the swap recorded in accumulated other comprehensive income (loss) (“AOCI”) was a net loss of $210. Derivatives Disclosures Fair Value —Financial instruments are required to be categorized within a valuation hierarchy based upon the lowest level of input that is significant to the fair value measurement. The three levels of the valuation hierarchy are as follows: • Level 1—Fair value is based on quoted prices in active markets. • Level 2—Fair value is based on internally developed models that use, as their basis, readily observable market parameters. Our derivative positions are classified within level 2 of the valuation hierarchy as they are valued using quoted market prices for similar assets and liabilities in active markets. These level 2 derivatives are valued utilizing an income approach, which discounts future cash flow based on current market expectations and adjusts for credit risk. • Level 3—Fair value is based on internally developed models that use, as their basis, significant unobservable market parameters. The Company did not have any level 3 classifications at March 31, 2022 or December 31, 2021. The following table presents the fair value of the interest rate derivative by valuation hierarchy and balance sheet classification: March 31, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Other current liabilities $ — $ (322) $ — $ (322) $ — $ (2,438) $ — $ (2,438) Other non-current liabilities — — — — — — — — Total liabilities at fair value $ — $ (322) $ — $ (322) $ — $ (2,438) $ — $ (2,438) OCI —The following table presents the total value recognized in OCI and reclassified from AOCI into earnings during the three months ended March 31, 2022 and 2021 for derivatives designated as cash flow hedges: Three Months Ended Three Months Ended March 31, 2022 March 31, 2021 Before Tax Tax Net of Tax Before Tax Tax Net of Tax Net gain (loss) recognized in OCI $ 1,285 $ (293) $ 992 $ 126 $ (29) $ 97 Net amount reclassified from AOCI into earnings (1) 741 (170) 571 1,034 (236) 798 Change in other comprehensive income $ 2,026 $ (463) $ 1,563 $ 1,160 $ (265) $ 895 (1) Net unrealized losses totaling $210 are anticipated to be reclassified from AOCI into earnings during the next 12 months due to settlement of the associated underlying obligations.

Lease Obligations

Lease Obligations	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lease Obligations	11. LEASE OBLIGATIONS The Company has operating and finance leases primarily for construction and transportation equipment, as well as office space. The Company’s leases have remaining lease terms of one month to fourteen years, some of which include options to extend the leases for up to ten years. The components of lease expense are as follows: Three Months Ended March 31, 2022 2021 Operating lease cost $ 2,693 $ 1,512 Short-term lease cost $ 3,168 $ 2,124 Finance lease cost: Amortization of right-of-use assets $ 41 $ 50 Interest on lease liabilities 4 6 Total finance lease cost $ 45 $ 56 Supplemental cash flow information related to leases is as follows: Three Months Ended March 31, Cash paid for amounts included in the measurement of lease liabilities: 2022 2021 Operating cash flows from operating leases $ 2,991 $ 1,518 Operating cash flows from finance leases $ 4 $ 6 Financing cash flows from finance leases $ 41 $ 50 Right-of-use assets obtained in exchange for lease obligations (non-cash): Operating leases $ 15,897 $ 896 Finance leases $ — $ — Supplemental balance sheet information related to leases is as follows: Operating Leases March 31, December 31, Operating lease right-of-use assets $ 37,344 $ 24,520 Current portion of long-term lease obligations $ 10,117 $ 8,841 Long-term lease obligations 27,326 15,831 Total operating lease liabilities $ 37,443 $ 24,672 Finance Leases Property and equipment, at cost $ 1,479 $ 1,479 Accumulated depreciation (953) (907) Property and equipment, net $ 526 $ 572 Current maturities of long-term debt $ 143 $ 148 Long-term debt 188 224 Total finance lease liabilities $ 331 $ 372 Weighted Average Remaining Lease Term Operating leases 5.6 5.4 Finance leases 2.3 2.5 Weighted Average Discount Rate Operating leases 4.9 % 5.0 % Finance leases 4.3 % 4.3 % Maturities of lease liabilities are as follows: Year Ending December 31, Operating Finance 2022 (excluding the three months ended March 31, 2022) $ 8,786 $ 116 2023 9,507 154 2024 7,453 77 2025 5,713 — 2026 3,926 — 2027 3,579 — Thereafter 3,978 — Total lease payments $ 42,942 $ 347 Less imputed interest (5,499) (16) Total $ 37,443 $ 331
Lease Obligations	11. LEASE OBLIGATIONS The Company has operating and finance leases primarily for construction and transportation equipment, as well as office space. The Company’s leases have remaining lease terms of one month to fourteen years, some of which include options to extend the leases for up to ten years. The components of lease expense are as follows: Three Months Ended March 31, 2022 2021 Operating lease cost $ 2,693 $ 1,512 Short-term lease cost $ 3,168 $ 2,124 Finance lease cost: Amortization of right-of-use assets $ 41 $ 50 Interest on lease liabilities 4 6 Total finance lease cost $ 45 $ 56 Supplemental cash flow information related to leases is as follows: Three Months Ended March 31, Cash paid for amounts included in the measurement of lease liabilities: 2022 2021 Operating cash flows from operating leases $ 2,991 $ 1,518 Operating cash flows from finance leases $ 4 $ 6 Financing cash flows from finance leases $ 41 $ 50 Right-of-use assets obtained in exchange for lease obligations (non-cash): Operating leases $ 15,897 $ 896 Finance leases $ — $ — Supplemental balance sheet information related to leases is as follows: Operating Leases March 31, December 31, Operating lease right-of-use assets $ 37,344 $ 24,520 Current portion of long-term lease obligations $ 10,117 $ 8,841 Long-term lease obligations 27,326 15,831 Total operating lease liabilities $ 37,443 $ 24,672 Finance Leases Property and equipment, at cost $ 1,479 $ 1,479 Accumulated depreciation (953) (907) Property and equipment, net $ 526 $ 572 Current maturities of long-term debt $ 143 $ 148 Long-term debt 188 224 Total finance lease liabilities $ 331 $ 372 Weighted Average Remaining Lease Term Operating leases 5.6 5.4 Finance leases 2.3 2.5 Weighted Average Discount Rate Operating leases 4.9 % 5.0 % Finance leases 4.3 % 4.3 % Maturities of lease liabilities are as follows: Year Ending December 31, Operating Finance 2022 (excluding the three months ended March 31, 2022) $ 8,786 $ 116 2023 9,507 154 2024 7,453 77 2025 5,713 — 2026 3,926 — 2027 3,579 — Thereafter 3,978 — Total lease payments $ 42,942 $ 347 Less imputed interest (5,499) (16) Total $ 37,443 $ 331

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. COMMITMENTS AND CONTINGENCIES The Company is required by its insurance providers to obtain and hold standby letters of credit. These letters of credit serve as a guarantee by the banking institution to pay the Company’s insurance providers the incurred claim costs attributable to its general liability, workers’ compensation and automobile liability claims, up to the amount stated in the standby letters of credit, in the event that these claims were not paid by the Company. These letters of credit are cash collateralized, resulting in the cash being designated as restricted. The Company, including its construction joint ventures and its consolidated 50% owned subsidiaries, is now and may in the future be involved as a party to various legal proceedings that are incidental to the ordinary course of business. Management, after consultation with legal counsel, does not believe that the outcome of these actions will have a material impact on the Condensed Consolidated Financial Statements of the Company. There are no significant unresolved legal issues as of March 31, 2022.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	13. INCOME TAXES The Company and its subsidiaries are based in the U.S. and file federal and various state income tax returns. The components of the provision for income taxes were as follows: Three Months Ended March 31, 2022 2021 Current tax expense $ 957 $ 618 Deferred tax expense 5,640 4,142 Income tax expense $ 6,597 $ 4,760 Cash paid for income taxes $ — $ — The effective income tax rate for three months ended March 31, 2022 was 25.3% and varied from the statutory rate primarily as a result of state income taxes, non-taxed PPP loan forgiveness, nondeductible compensation and other permanent differences. Due to net operating loss carryforwards, the Company expects no cash payments for federal income taxes for 2022 or 2021. The Company makes cash payments for state income taxes in states in which the Company does not have net operating loss carry forwards. At December 31, 2021 the Company had federal and state net operating loss (“NOL”) carryforwards of $33,780 and $32,064, respectively, which expire at various dates in the next 17 years for U.S. federal income tax and in the next 6 to 16 years for the various state jurisdictions where we operate. Such NOL carryforwards expire beginning in 2028 through 2039. As a result of the Company’s analysis, management has determined that the Company does not have any material uncertain tax positions.

Stock Incentive Plan

Stock Incentive Plan	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Stock Incentive Plan	14. STOCK INCENTIVE PLAN General —The Company has a stock incentive plan (the “Stock Incentive Plan”) and an employee stock purchase plan (the “ESPP”) that are administered by the Compensation and Talent Development Committee of the Board of Directors. Under the Stock Incentive Plan, the Company can issue shares to employees and directors in the form of restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance share units (“PSUs”). Changes in common stock, additional paid in capital and treasury stock during the three months ended March 31, 2022 primarily relate to activity associated with the Stock Incentive Plan, the ESPP and shares withheld for taxes. Share Grants —During the three months ended March 31, 2022, the Company granted the following awards under the Stock Incentive Plan: Shares Weighted Average Grant-Date Fair Value per Share RSUs 100 $ 26.70 PSUs (at target) 154 $ 26.82 Total shares granted 254 Share Issuances —During the three months ended March 31, 2022, the Company issued the following shares under the Stock Incentive Plan and the ESPP: Shares RSUs (issued upon vesting) 5 PSUs (issued upon vesting) 675 ESPP (issued upon sale) 8 Total shares issued 688 Stock-Based Compensation —During the three months ended March 31, 2022 and 2021, the Company recognized $2,296 and $1,835, respectively, of stock-based compensation, primarily within general and administrative expenses. Included within total stock-based compensation for the three months ended March 31, 2022 and 2021 is $34 and $25, respectively, of expense related to the ESPP. Additionally, the Company has liability-based awards for which the number of units awarded is not determined until the vesting date. During the three months ended March 31, 2022 and 2021, the Company recognized $1,225 and $0, respectively, within additional paid in capital for the vesting of liability-based awards. The Company recognizes forfeitures as they occur, rather than estimating expected forfeitures. Shares Withheld for Taxes —The Company withheld 263 shares for taxes on RSU/PSU stock-based compensation vestings for $7,385 during the three months ended March 31, 2022. AOCI —During the three months ended March 31, 2022, changes in AOCI were a result of net gains (losses) recognized in OCI and amounts reclassified from AOCI into earnings related to our interest rate derivative. See Note 10 - Financial Instruments for further discussion.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	15. EARNINGS PER SHARE The following table reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, Numerator: 2022 2021 Net income attributable to Sterling common stockholders $ 19,252 $ 10,555 Denominator: Weighted average common shares outstanding — basic 29,964 28,279 Shares for dilutive unvested stock and warrants 148 484 Weighted average common shares outstanding — diluted 30,112 28,763 Basic net income per share attributable to Sterling common stockholders $ 0.64 $ 0.37 Diluted net income per share attributable to Sterling common stockholders $ 0.64 $ 0.37

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	16. SUPPLEMENTAL CASH FLOW INFORMATION Operating Assets and Liabilities— The following table summarizes the changes in the components of operating assets and liabilities: Three Months Ended March 31, 2022 2021 Accounts receivable $ 5,703 $ 7,238 Contracts in progress, net (16,305) (7,921) Receivables from and equity in construction joint ventures (2,396) (1,513) Other current and non-current assets (1,399) 246 Accounts payable (2,876) 12,799 Accrued compensation and other liabilities (331) 59 Members' interest subject to mandatory redemption and undistributed earnings (1,789) 325 Changes in operating assets and liabilities $ (19,393) $ 11,233

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	17. SEGMENT INFORMATION The Company’s internal and public segment reporting are aligned based upon the services offered by its operating segments. With the December 30, 2021 acquisition of Petillo, the Company realigned its operating groups to reflect management’s present oversight of operations. After realignment, the Company’s operations consist of three reportable segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions, with the commercial business reclassified from the previously reported Specialty Services operating group into the newly formed Building Solutions operating group. The segment information for the prior period has been recast to conform to the current presentation. The Company’s Chief Operating Decision Maker evaluates the performance of the operating segment based upon revenue and income from operations. We incur expenses at the corporate level that relate to our business as a whole. Certain of these amounts have been charged to our business segments by various methods, largely on the basis of usage, with the unallocated remainder reported in the “Corporate” line. Corporate overhead is primarily comprised of corporate headquarters facility expense, the cost of the executive management team, and expenses pertaining to certain centralized functions that benefit the entire Company but are not directly attributable to the businesses, such as corporate human resources, legal, governance and finance functions. The following table presents total revenue and income from operations by reportable segment for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, Revenues 2022 2021 E-Infrastructure Solutions $ 168,927 $ 96,572 Transportation Solutions 160,499 147,054 Building Solutions 80,894 71,690 Total Revenues $ 410,320 $ 315,316 Operating Income E-Infrastructure Solutions $ 21,285 $ 17,812 Transportation Solutions 3,686 2,666 Building Solutions 9,358 7,361 Segment Operating Income 34,329 27,839 Corporate (5,805) (5,084) Acquisition Related Costs (255) — Total Operating Income $ 28,269 $ 22,755

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Presentation Basis	Presentation Basis— The accompanying Condensed Consolidated Financial Statements are presented in accordance with accounting policies generally accepted in the United States (“GAAP”) and reflect all wholly owned subsidiaries and those entities the Company is required to consolidate. See Note 5 - Consolidated 50% Owned Subsidiaries and Note 6 - Construction Joint Ventures for further discussion of the Company’s consolidation policy for those entities that are not wholly owned. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation have been included. All significant intercompany accounts and transactions have been eliminated in consolidation. Values presented within tables (excluding per share data) are in thousands. Reclassifications have been made to historical financial data in the Condensed Consolidated Financial Statements to conform to the current year presentation.
Estimates and Judgments	Estimates and Judgments— The preparation of the accompanying Condensed Consolidated Financial Statements in conformance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Certain accounting estimates of the Company require a higher degree of judgment than others in their application. These include the recognition of revenue and earnings from construction contracts over time, the valuation of long-lived assets, goodwill and purchase accounting estimates. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates.
Accounts Receivable	Accounts Receivable— Receivables are generally based on amounts billed to the customer in accordance with contractual provisions. Receivables are written off based on the individual credit evaluation and specific circumstances of the customer, when such treatment is warranted. The Company performs a review of outstanding receivables, historical collection information and existing economic conditions to determine if there are potential uncollectible receivables. At March 31, 2022 and December 31, 2021, our allowance for our estimate of expected credit losses was zero.
Contracts in Progress	Contracts in Progress— For performance obligations satisfied over time, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Typically, Sterling bills for advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. However, the Company occasionally bills subsequent to revenue recognition, resulting in contract assets. Many of the contracts under which the Company performs work also contain retainage provisions. Retainage refers to that portion of our billings held for payment by the customer pending satisfactory completion of the project. Unless reserved, the Company assumes that all amounts retained by customers under such provisions are fully collectible. At March 31, 2022 and December 31, 2021, contract assets included $33,016 and $47,308 of retainage, respectively, and contract liabilities included $66,361 and $46,882 of retainage, respectively. Retainage on active contracts is classified as current regardless of the term of the contract and is generally collected within one year of the completion of a contract. We anticipate collecting approximately 64% of our March 31, 2022 retainage during the next twelve months. These assets and liabilities are reported on the Condensed Consolidated Balance Sheet within “Contract assets” and “Contract liabilities” on a contract-by-contract basis at the end of each reporting period. Revenue recognized for the three months ended March 31, 2022 that was included in the contract liability balance on December 31, 2021 was $227,079. Revenue recognized for the three months ended March 31, 2021 that was included in the contract liability balance on December 31, 2020 was $155,558.
Cash and Restricted Cash	Cash and Restricted Cash— Our cash is comprised of highly liquid investments with maturities of three months or less. Restricted cash of $6,990 and $6,853 is included in “Other current assets” on the Condensed Consolidated Balance Sheets at March 31, 2022 and December 31, 2021, respectively. This primarily represents cash deposited by the Company into separate accounts and designated as collateral for standby letters of credit in the same amount in accordance with contractual agreements.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Summary of Fair Value Consideration Transferred	Purchase Consideration— Sterling completed the Acquisition for a purchase price of $196,763, net of cash acquired, detailed as follows: Cash consideration transferred, net of cash acquired $ 175,000 Equity consideration transferred (759 shares at $26.87 per share (1) ) 20,406 Target working capital adjustment 1,357 Total consideration $ 196,763 (1) Sterling’s closing stock price on December 29, 2021.
Summary of Preliminary Purchase Price Allocation	The following table summarizes our purchase price allocation at the Acquisition Closing Date, net of cash acquired: Net tangible assets: Accounts receivable $ 45,016 Contract assets 5,953 Other current assets 193 Property and equipment, net 48,175 Other non-current assets, net 5,498 Accounts payable (21,810) Contract liabilities (8,585) Other current liabilities (8,216) Total net tangible assets 66,224 Identifiable intangible assets 70,200 Goodwill 60,339 Total consideration transferred $ 196,763
Schedule of Identifiable Intangible Assets Acquired	Weighted Average Life (Years) December 30, 2021 Customer relationships 25 $ 42,700 Trade names 25 27,500 Total $ 70,200
Summary of Proforma Information	Three Months Ended March 31, 2021 Pro forma revenue $ 343,539 Pro forma net income attributable to Sterling $ 10,814

Revenue From Customers (Tables)

Revenue From Customers (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Backlog By Segment	The following table presents the Company’s backlog, by segment: March 31, December 31, E-Infrastructure Solutions Backlog $ 541,150 $ 432,613 Transportation Solutions Backlog 898,679 963,267 Building Solutions Backlog - Commercial 87,055 97,235 Total Backlog $ 1,526,884 $ 1,493,115
Disaggregation of Revenue	The following tables present the Company’s revenue disaggregated by major end market and contract type: Three Months Ended March 31, Revenues by major end market 2022 2021 E-Infrastructure Solutions Revenues $ 168,927 $ 96,572 Heavy Highway 112,745 99,516 Aviation 17,583 27,222 Water Containment and Treatment 19,887 14,219 Other 10,284 6,097 Transportation Solutions Revenues 160,499 147,054 Residential 54,270 44,174 Commercial 26,624 27,516 Building Solutions Revenues 80,894 71,690 Total Revenues $ 410,320 $ 315,316 Revenues by contract type Fixed-Unit Price $ 156,310 $ 177,547 Lump-Sum 197,868 91,155 Residential and Other 56,142 46,614 Total Revenues $ 410,320 $ 315,316

Consolidated 50% Owned Subsid_2

Consolidated 50% Owned Subsidiaries (Tables)	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Summary of Liability Breakdown	The liability consists of the following: March 31, December 31, Members’ interest subject to mandatory redemption $ 40,000 $ 40,000 Net accumulated earnings 15,754 15,115 Total liability $ 55,754 $ 55,115
Summary of Financial Information	Summary financial information for Myers is as follows: Three Months Ended March 31, 2022 2021 Revenues $ 44,358 $ 27,957 Operating (loss) income $ (1,448) $ 718 Net income $ 1,737 $ 352 Three Months Ended March 31, 2022 2021 Revenues $ 7,853 $ 8,242 Operating income $ 552 $ 2,527 Net income $ 554 $ 2,528 Three Months Ended March 31, 2022 2021 Revenues $ 58,559 $ 49,417 Income before tax $ 6,777 $ 4,635 Sterling’s noncontrolling interest: Revenues $ 26,608 $ 21,944 Income before tax $ 3,067 $ 2,135

Construction Joint Ventures (Ta

Construction Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Condensed Income Statement	Summary financial information for Myers is as follows: Three Months Ended March 31, 2022 2021 Revenues $ 44,358 $ 27,957 Operating (loss) income $ (1,448) $ 718 Net income $ 1,737 $ 352 Three Months Ended March 31, 2022 2021 Revenues $ 7,853 $ 8,242 Operating income $ 552 $ 2,527 Net income $ 554 $ 2,528 Three Months Ended March 31, 2022 2021 Revenues $ 58,559 $ 49,417 Income before tax $ 6,777 $ 4,635 Sterling’s noncontrolling interest: Revenues $ 26,608 $ 21,944 Income before tax $ 3,067 $ 2,135
Condensed Balance Sheet	March 31, December 31, Current assets $ 119,561 $ 130,898 Current liabilities $ (74,243) $ (91,121) Sterling’s receivables from and equity in construction joint ventures $ 19,292 $ 16,896

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment are summarized as follows: March 31, December 31, Construction and transportation equipment $ 332,289 $ 316,381 Buildings and improvements 24,298 24,042 Land 3,891 3,891 Office equipment 3,314 3,270 Total property and equipment 363,792 347,584 Less accumulated depreciation (151,189) (143,268) Total property and equipment, net $ 212,603 $ 204,316

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table presents our acquired finite-lived intangible assets, including the weighted-average useful lives for each major intangible asset category and in total: March 31, 2022 December 31, 2021 Weighted Gross Accumulated Gross Accumulated Customer relationships 25 $ 275,323 $ (28,634) $ 274,923 $ (25,838) Trade names 24 57,607 (5,380) 57,607 (4,726) Non-compete agreements 5 2,487 (1,348) 2,487 (1,230) Total 24 $ 335,417 $ (35,362) $ 335,017 $ (31,794)

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company’s outstanding debt was as follows: March 31, December 31, Term Loan Facility $ 441,081 $ 446,888 Revolving Credit Facility — — Credit Facility 441,081 446,888 Other debt 11,441 15,309 Total debt 452,522 462,197 Less - Current maturities of long-term debt (30,368) (28,230) Less - Unamortized debt issuance costs (4,823) (5,379) Total long-term debt $ 417,331 $ 428,588

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities at Fair Value	The following table presents the fair value of the interest rate derivative by valuation hierarchy and balance sheet classification: March 31, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Other current liabilities $ — $ (322) $ — $ (322) $ — $ (2,438) $ — $ (2,438) Other non-current liabilities — — — — — — — — Total liabilities at fair value $ — $ (322) $ — $ (322) $ — $ (2,438) $ — $ (2,438)
Schedule of Changes in AOCI	The following table presents the total value recognized in OCI and reclassified from AOCI into earnings during the three months ended March 31, 2022 and 2021 for derivatives designated as cash flow hedges: Three Months Ended Three Months Ended March 31, 2022 March 31, 2021 Before Tax Tax Net of Tax Before Tax Tax Net of Tax Net gain (loss) recognized in OCI $ 1,285 $ (293) $ 992 $ 126 $ (29) $ 97 Net amount reclassified from AOCI into earnings (1) 741 (170) 571 1,034 (236) 798 Change in other comprehensive income $ 2,026 $ (463) $ 1,563 $ 1,160 $ (265) $ 895 (1) Net unrealized losses totaling $210 are anticipated to be reclassified from AOCI into earnings during the next 12 months due to settlement of the associated underlying obligations.

Lease Obligations (Tables)

Lease Obligations (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Lease Expenses	The components of lease expense are as follows: Three Months Ended March 31, 2022 2021 Operating lease cost $ 2,693 $ 1,512 Short-term lease cost $ 3,168 $ 2,124 Finance lease cost: Amortization of right-of-use assets $ 41 $ 50 Interest on lease liabilities 4 6 Total finance lease cost $ 45 $ 56 Supplemental cash flow information related to leases is as follows: Three Months Ended March 31, Cash paid for amounts included in the measurement of lease liabilities: 2022 2021 Operating cash flows from operating leases $ 2,991 $ 1,518 Operating cash flows from finance leases $ 4 $ 6 Financing cash flows from finance leases $ 41 $ 50 Right-of-use assets obtained in exchange for lease obligations (non-cash): Operating leases $ 15,897 $ 896 Finance leases $ — $ — Supplemental balance sheet information related to leases is as follows: Operating Leases March 31, December 31, Operating lease right-of-use assets $ 37,344 $ 24,520 Current portion of long-term lease obligations $ 10,117 $ 8,841 Long-term lease obligations 27,326 15,831 Total operating lease liabilities $ 37,443 $ 24,672 Finance Leases Property and equipment, at cost $ 1,479 $ 1,479 Accumulated depreciation (953) (907) Property and equipment, net $ 526 $ 572 Current maturities of long-term debt $ 143 $ 148 Long-term debt 188 224 Total finance lease liabilities $ 331 $ 372 Weighted Average Remaining Lease Term Operating leases 5.6 5.4 Finance leases 2.3 2.5 Weighted Average Discount Rate Operating leases 4.9 % 5.0 % Finance leases 4.3 % 4.3 %
Maturities of Lease Liabilities, Operating Leases	Maturities of lease liabilities are as follows: Year Ending December 31, Operating Finance 2022 (excluding the three months ended March 31, 2022) $ 8,786 $ 116 2023 9,507 154 2024 7,453 77 2025 5,713 — 2026 3,926 — 2027 3,579 — Thereafter 3,978 — Total lease payments $ 42,942 $ 347 Less imputed interest (5,499) (16) Total $ 37,443 $ 331
Maturities of Lease Liabilities, Finance Leases	Maturities of lease liabilities are as follows: Year Ending December 31, Operating Finance 2022 (excluding the three months ended March 31, 2022) $ 8,786 $ 116 2023 9,507 154 2024 7,453 77 2025 5,713 — 2026 3,926 — 2027 3,579 — Thereafter 3,978 — Total lease payments $ 42,942 $ 347 Less imputed interest (5,499) (16) Total $ 37,443 $ 331

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Taxes	The components of the provision for income taxes were as follows: Three Months Ended March 31, 2022 2021 Current tax expense $ 957 $ 618 Deferred tax expense 5,640 4,142 Income tax expense $ 6,597 $ 4,760 Cash paid for income taxes $ — $ —

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of Share Grants and Issuances	During the three months ended March 31, 2022, the Company granted the following awards under the Stock Incentive Plan: Shares Weighted Average Grant-Date Fair Value per Share RSUs 100 $ 26.70 PSUs (at target) 154 $ 26.82 Total shares granted 254 Shares RSUs (issued upon vesting) 5 PSUs (issued upon vesting) 675 ESPP (issued upon sale) 8 Total shares issued 688

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, Numerator: 2022 2021 Net income attributable to Sterling common stockholders $ 19,252 $ 10,555 Denominator: Weighted average common shares outstanding — basic 29,964 28,279 Shares for dilutive unvested stock and warrants 148 484 Weighted average common shares outstanding — diluted 30,112 28,763 Basic net income per share attributable to Sterling common stockholders $ 0.64 $ 0.37 Diluted net income per share attributable to Sterling common stockholders $ 0.64 $ 0.37

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table summarizes the changes in the components of operating assets and liabilities: Three Months Ended March 31, 2022 2021 Accounts receivable $ 5,703 $ 7,238 Contracts in progress, net (16,305) (7,921) Receivables from and equity in construction joint ventures (2,396) (1,513) Other current and non-current assets (1,399) 246 Accounts payable (2,876) 12,799 Accrued compensation and other liabilities (331) 59 Members' interest subject to mandatory redemption and undistributed earnings (1,789) 325 Changes in operating assets and liabilities $ (19,393) $ 11,233

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents total revenue and income from operations by reportable segment for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, Revenues 2022 2021 E-Infrastructure Solutions $ 168,927 $ 96,572 Transportation Solutions 160,499 147,054 Building Solutions 80,894 71,690 Total Revenues $ 410,320 $ 315,316 Operating Income E-Infrastructure Solutions $ 21,285 $ 17,812 Transportation Solutions 3,686 2,666 Building Solutions 9,358 7,361 Segment Operating Income 34,329 27,839 Corporate (5,805) (5,084) Acquisition Related Costs (255) — Total Operating Income $ 28,269 $ 22,755

Nature of Operations (Details)

Nature of Operations (Details)	3 Months Ended
	Mar. 31, 2022segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Allowance for doubtful accounts against contracts receivable	$ 0		$ 0
Contract receivables	33,016,000		47,308,000
Contract liabilities, retainage	$ 66,361,000		46,882,000
Percentage of receivables estimated to be collected in next fiscal year	64.00%
Contract liability recognized during period	$ 227,079,000
Contract liability revenue recognized		$ 155,558,000
Restricted cash	6,990,000	$ 5,827,000
Other current assets
Property, Plant and Equipment [Line Items]
Restricted cash	$ 6,990,000		$ 6,853,000

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Dec. 30, 2021	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 252,353	$ 259,791
Expected tax deductible, period	15 years
Petillo
Business Acquisition [Line Items]
Goodwill	$ 60,339
Expected tax deductible amount	$ 130,000
Consideration transferred		$ 7,800

Acquisitions - Consideration Tr

Acquisitions - Consideration Transferred and Purchase Price Allocation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Dec. 30, 2021	Mar. 31, 2022	Dec. 31, 2021
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Goodwill		$ 252,353	$ 259,791
Petillo
Business Combination, Consideration Transferred [Abstract]
Cash consideration transferred, net of cash acquired	$ 175,000
Equity consideration transferred (in shares)	759
Business acquisition, price per share	$ 26.87
Share consideration given for acquisitions	$ 20,406
Target working capital adjustment	1,357
Aggregate consideration	196,763
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Accounts receivable	45,016
Contract assets	5,953
Other current assets	193
Property and equipment, net	48,175
Other non-current assets, net	5,498
Accounts payable	(21,810)
Contract liabilities	(8,585)
Other current liabilities	(8,216)
Total net tangible assets	66,224
Identifiable intangible assets	70,200
Goodwill	60,339
Total consideration transferred	$ 196,763

Acquisitions - Schedule of Iden

Acquisitions - Schedule of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 30, 2021	Mar. 31, 2022
Business Acquisition [Line Items]
Weighted Average Life (Years)		24 years
Petillo
Business Acquisition [Line Items]
Fair value	$ 70,200
Customer relationships
Business Acquisition [Line Items]
Weighted Average Life (Years)		25 years
Customer relationships | Petillo
Business Acquisition [Line Items]
Weighted Average Life (Years)	25 years
Fair value	$ 42,700
Trade names
Business Acquisition [Line Items]
Weighted Average Life (Years)		24 years
Trade names | Petillo
Business Acquisition [Line Items]
Weighted Average Life (Years)	25 years
Fair value	$ 27,500

Acquisitions - Supplemental Pro

Acquisitions - Supplemental Pro Forma Information (Details) - Petillo $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Business Acquisition [Line Items]
Pro forma revenue	$ 343,539
Pro forma net income attributable to Sterling	$ 10,814

Revenue From Customers - Backlo

Revenue From Customers - Backlog By Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Backlog	$ 1,526,884	$ 1,493,115
E-Infrastructure Solutions Backlog
Disaggregation of Revenue [Line Items]
Backlog	541,150	432,613
Transportation Solutions Revenues
Disaggregation of Revenue [Line Items]
Backlog	898,679	963,267
Building Solutions Backlog - Commercial
Disaggregation of Revenue [Line Items]
Backlog	$ 87,055	$ 97,235

Revenue from Customers - Revenu

Revenue from Customers - Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 410,320	$ 315,316
Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	410,320	315,316
E-Infrastructure Solutions Backlog | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	168,927	96,572
Transportation Solutions Revenues | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	160,499	147,054
Transportation Solutions Revenues | Heavy Highway
Disaggregation of Revenue [Line Items]
Revenues	112,745	99,516
Transportation Solutions Revenues | Aviation
Disaggregation of Revenue [Line Items]
Revenues	17,583	27,222
Transportation Solutions Revenues | Water Containment and Treatment
Disaggregation of Revenue [Line Items]
Revenues	19,887	14,219
Transportation Solutions Revenues | Other
Disaggregation of Revenue [Line Items]
Revenues	10,284	6,097
Building Solutions Backlog - Commercial | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	80,894	71,690
Building Solutions Backlog - Commercial | Residential
Disaggregation of Revenue [Line Items]
Revenues	54,270	44,174
Building Solutions Backlog - Commercial | Commercial
Disaggregation of Revenue [Line Items]
Revenues	26,624	27,516
Fixed-Unit Price
Disaggregation of Revenue [Line Items]
Revenues	156,310	177,547
Lump-Sum
Disaggregation of Revenue [Line Items]
Revenues	197,868	91,155
Residential and Other
Disaggregation of Revenue [Line Items]
Revenues	$ 56,142	$ 46,614

Revenue from Customers - Narrat

Revenue from Customers - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation expected to be recognized over next twelve months	68.00%
Remaining performance obligation period	12 months
Operating income (Loss)
Disaggregation of Revenue [Line Items]
Estimated construction gain (loss) before tax	$ 15,400	$ 8,300
Costs and Estimated Earnings in Excess of Billings
Disaggregation of Revenue [Line Items]
Contracts receivable unpaid project contract price	$ 13,985		$ 13,905

Consolidated 50% Owned Subsid_3

Consolidated 50% Owned Subsidiaries - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)insurancePolicyentity	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Jun. 30, 2020entity
Noncontrolling Interest [Line Items]
Ownership interest in subsidiaries	50.00%
Number of entities | entity	2			2
Members’ interest subject to mandatory redemption	$ 40,000		$ 40,000
Number of death and disability insurance policies | insurancePolicy	2
Total disability insurance policies, per policy amount	$ 20,000
Myers
Noncontrolling Interest [Line Items]
Net accumulated earnings	1,000	$ 1,800
Variable Interest Entity, Primary Beneficiary | Myers
Noncontrolling Interest [Line Items]
Members’ interest subject to mandatory redemption	$ 20,000

Consolidated 50% Owned Subsid_4

Consolidated 50% Owned Subsidiaries - Components of Noncontrolling Interest (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Noncontrolling Interest [Abstract]
Members’ interest subject to mandatory redemption	$ 40,000	$ 40,000
Net accumulated earnings	15,754	15,115
Total liability	$ 55,754	$ 55,115

Consolidated 50% Owned Subsid_5

Consolidated 50% Owned Subsidiaries Consolidated 50% Owned Subsidiaries - Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Variable Interest Entity [Line Items]
Operating income	$ 28,269	$ 22,755
Net income	19,252	10,555
Variable Interest Entity, Primary Beneficiary | Myers
Variable Interest Entity [Line Items]
Revenues	44,358	27,957
Operating income	(1,448)	718
Net income	$ 1,737	$ 352

Construction Joint Ventures - S

Construction Joint Ventures - SEMA Financials (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of Equity Method Investments [Line Items]
Operating income	$ 28,269	$ 22,755
Net income	$ 19,252	10,555
RLW | Joint Ventures
Schedule of Equity Method Investments [Line Items]
Ownership percentage	51.00%
SEMA Construction Inc | Joint Ventures | Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Revenues	$ 7,853	8,242
Operating income	552	2,527
Net income	$ 554	$ 2,528

Construction Joint Ventures - C

Construction Joint Ventures - Construction Joint Ventures, Partner Share (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Current assets	$ 435,890	$ 434,691
Current liabilities	(339,514)	(351,760)
Sterling’s receivables from and equity in construction joint ventures	19,292	16,896
Joint Ventures | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Current assets	119,561	130,898
Current liabilities	(74,243)	(91,121)
Sterling’s receivables from and equity in construction joint ventures	$ 19,292	$ 16,896

Construction Joint Ventures - I

Construction Joint Ventures - Income Statement Information (Details) - Joint Ventures - Equity Method Investment, Nonconsolidated Investee or Group of Investees - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of Equity Method Investments [Line Items]
Revenues	$ 58,559	$ 49,417
Income before tax	6,777	4,635
Sterling’s noncontrolling interest:
Revenues	26,608	21,944
Income before tax	$ 3,067	$ 2,135

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 363,792		$ 347,584
Less accumulated depreciation	(151,189)		(143,268)
Total property and equipment, net	212,603		204,316
Depreciation	8,199	$ 5,439
Construction and transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	332,289		316,381
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24,298		24,042
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,891		3,891
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 3,314		$ 3,270

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	24 years
Gross Carrying Amount	$ 335,417		$ 335,017
Accumulated Amortization	(35,362)		(31,794)
Amortization of intangible assets	$ 3,568	$ 2,866
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	25 years
Gross Carrying Amount	$ 275,323		274,923
Accumulated Amortization	$ (28,634)		(25,838)
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	24 years
Gross Carrying Amount	$ 57,607		57,607
Accumulated Amortization	$ (5,380)		(4,726)
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	5 years
Gross Carrying Amount	$ 2,487		2,487
Accumulated Amortization	$ (1,348)		$ (1,230)

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt	$ 452,522,000	$ 462,197,000
Less - Current maturities of long-term debt	(30,368,000)	(28,230,000)
Less - Unamortized debt issuance costs	(4,823,000)	(5,379,000)
Total long-term debt	417,331,000	428,588,000
Other debt
Debt Instrument [Line Items]
Long-term debt	11,441,000	15,309,000
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Long-term debt	441,081,000	446,888,000
Secured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	0	0
Secured Debt | Credit Facility
Debt Instrument [Line Items]
Long-term debt	$ 441,081,000	$ 446,888,000

Debt - Narrative (Details)

Debt - Narrative (Details)	Mar. 31, 2022USD ($)entity	Mar. 31, 2022USD ($)entity	Mar. 31, 2021USD ($)	Dec. 31, 2024USD ($)	Dec. 31, 2023USD ($)	Dec. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Jun. 30, 2020entity
Debt Instrument [Line Items]
Long-term debt	$ 452,522,000	$ 452,522,000					$ 462,197,000
Amortization of debt issuance costs		$ 556,000	$ 660,000
Number of entities | entity	2	2						2
Ownership interest in subsidiaries	50.00%	50.00%
Gain (loss) on extinguishment of debt		$ 2,428,000	$ (337,000)
Plateau Excavation
Debt Instrument [Line Items]
Estimated tax basis step-up payment		$ 10,000,000
Credit Agreement
Debt Instrument [Line Items]
Cash flow prepayment term		5 days
Paycheck Protection Program
Debt Instrument [Line Items]
Loan amount forgiven		$ 4,800,000
Gain (loss) on extinguishment of debt		2,428,000
Secured Debt | Interest Rate Swap
Debt Instrument [Line Items]
Derivative, notional amount	$ 200,000,000	$ 200,000,000
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Weighted average interest rate	3.28%	3.28%
Repayments of debt		$ 5,806,000
Long-term debt	$ 441,081,000	441,081,000					$ 446,888,000
Secured Debt | Term Loan Facility | Forecast
Debt Instrument [Line Items]
Periodic payments				$ 26,100,000	$ 31,900,000	$ 23,200,000
Secured Debt | Term Loan Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument face amount	540,000,000	540,000,000
Line of Credit | Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 75,000,000	75,000,000
Debt instrument, LIBOR interest rate	0.21%
Line of Credit | Revolving Credit Facility | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Line of Credit | Revolving Credit Facility | Swing Line Loan
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 15,000,000	$ 15,000,000

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative [Line Items]
Long-term debt	$ 452,522		$ 462,197
Net loss recorded in accumulated other comprehensive income	(2,026)	$ (1,160)
Interest Rate Swap
Derivative [Line Items]
Net loss recorded in accumulated other comprehensive income	210
Secured Debt | Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount	200,000
Secured Debt | Term Loan Facility
Derivative [Line Items]
Long-term debt	$ 441,081		$ 446,888

Financial Instruments - Fair Va

Financial Instruments - Fair Value of the Interest Rate Derivative (Details) - Fair Value, Recurring - Interest Rate Swap - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Other current liabilities	$ (322)	$ (2,438)
Other non-current liabilities	0	0
Total liabilities at fair value	(322)	(2,438)
Level 1
Derivative [Line Items]
Other current liabilities	0	0
Other non-current liabilities	0	0
Total liabilities at fair value	0	0
Level 2
Derivative [Line Items]
Other current liabilities	(322)	(2,438)
Other non-current liabilities	0	0
Total liabilities at fair value	(322)	(2,438)
Level 3
Derivative [Line Items]
Other current liabilities	0	0
Other non-current liabilities	0	0
Total liabilities at fair value	$ 0	$ 0

Financial Instruments - Schedul

Financial Instruments - Schedule of Total Value Recognized in Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net gain (loss) recognized in OCI, before tax amount	$ 1,285	$ 126
Net gain (loss) recognized in OCI, tax amount	(293)	(29)
Net gain (loss) recognized in OCI, net of tax amount	992	97
Net amount reclassified from AOCI into earnings, before tax amount	741	1,034
Net amount reclassified from AOCI into earnings, tax amount	(170)	(236)
Net amount reclassified from AOCI into earnings, net of tax amount	571	798
Change in OCI, before tax amount	2,026	1,160
Change in OCI, tax amount	(463)	(265)
Change in OCI, net of tax amount	1,563	895
Accumulated Other Comprehensive Loss
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Change in OCI, net of tax amount	1,563	$ 895
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Change in OCI, before tax amount	(210)
Interest Expense | Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized losses expected to be reclassified from AOCI within next 12 months	$ 210

Lease Obligations (Details)

Lease Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Lease termination period	10 years
Lease, Cost [Abstract]
Operating lease cost	$ 2,693	$ 1,512
Short-term lease cost	3,168	2,124
Finance lease cost:
Amortization of right-of-use assets	41	50
Interest on lease liabilities	4	6
Total finance lease cost	45	56
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	2,991	1,518
Operating cash flows from finance leases	4	6
Financing cash flows from finance leases	41	50
Right-of-use assets obtained in exchange for lease obligations (non-cash):
Operating leases	15,897	896
Finance leases	0	$ 0
Assets and Liabilities, Lessee [Abstract]
Operating lease right-of-use assets	37,344		$ 24,520
Current portion of long-term lease obligations	10,117		8,841
Long-term lease obligations	27,326		15,831
Total operating lease liabilities	37,443		24,672
Property and equipment, at cost	1,479		1,479
Accumulated depreciation	$ (953)		$ (907)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net ($10,189 and $10,420 related to VIEs)		Property and equipment, net ($10,189 and $10,420 related to VIEs)
Property and equipment, net	$ 526		$ 572
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current maturities of long-term debt ($0 and $4,857 related to VIEs)		Current maturities of long-term debt ($0 and $4,857 related to VIEs)
Current maturities of long-term debt	$ 143		$ 148
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt ($0 and $81 related to VIEs)		Long-term debt ($0 and $81 related to VIEs)
Long-term debt	$ 188		$ 224
Total finance lease liabilities	$ 331		$ 372
Weighted average remaining lease term: operating leases	5 years 7 months 6 days		5 years 4 months 24 days
Weighted average remaining lease term: financing leases	2 years 3 months 18 days		2 years 6 months
Weighted average discount rate: operating lease	4.90%		5.00%
Weighted average discount rate: financing lease	4.30%		4.30%
Operating Leases
2022 (excluding the three months ended March 31, 2022)	$ 8,786
2023	9,507
2024	7,453
2025	5,713
2026	3,926
2027	3,579
Thereafter	3,978
Total lease payments	42,942
Less imputed interest	(5,499)
Total operating lease liabilities	37,443		$ 24,672
Finance Leases
2022 (excluding the three months ended March 31, 2022)	116
2023	154
2024	77
2025	0
2026	0
2027	0
Thereafter	0
Total lease payments	347
Less imputed interest	(16)
Total finance lease liabilities	$ 331		$ 372
Minimum
Lessee, Lease, Description [Line Items]
Lease renewal term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Lease renewal term	14 years

Commitments and Contingencies (

Commitments and Contingencies (Details)	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Ownership interest in subsidiaries	50.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Current tax expense	$ 957	$ 618
Deferred tax expense	5,640	4,142
Income tax expense	6,597	4,760
Cash paid for income taxes	$ 0	$ 0
Effective income tax rate reconciliation	25.30%
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards			$ 33,780
Operating loss carryforward expiration period	17 years
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards			$ 32,064
Minimum | State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforward expiration period	6 years
Maximum | State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforward expiration period	16 years

Stock Incentive Plan - Share Gr

Stock Incentive Plan - Share Grants (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Class of Stock [Line Items]
Shares granted (in shares)	254
RSUs
Class of Stock [Line Items]
Shares granted (in shares)	100
Weighted Average Grant-Date Fair Value per Share (in dollars per share) | $ / shares	$ 26.70
PSUs
Class of Stock [Line Items]
Shares granted (in shares)	154
Weighted Average Grant-Date Fair Value per Share (in dollars per share) | $ / shares	$ 26.82

Stock Incentive Plan - Share Is

Stock Incentive Plan - Share Issuances (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2022shares
Class of Stock [Line Items]
Shares issued (in shares)	688
RSUs
Class of Stock [Line Items]
Shares issued (in shares)	5
PSUs
Class of Stock [Line Items]
Shares issued (in shares)	675
ESPP
Class of Stock [Line Items]
Shares issued (in shares)	8

Stock Incentive Plan - Narrativ

Stock Incentive Plan - Narrative (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Sale of Stock [Line Items]
Stock-based compensation expense	$ 2,296	$ 1,835
Shares withheld for taxes	7,386	5,619
Additional Paid in Capital
Sale of Stock [Line Items]
Shares withheld for taxes	7,383	5,321
Liability-Based Awards | Additional Paid in Capital
Sale of Stock [Line Items]
Stock-based compensation expense	$ 1,225	0
RSU/PSU
Sale of Stock [Line Items]
Shares withheld for taxes (in shares)	263
Shares withheld for taxes	$ 7,385
Employee Stock Purchase Plan | ESPP
Sale of Stock [Line Items]
Stock-based compensation expense	$ 34	$ 25

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income attributable to Sterling common stockholders	$ 19,252	$ 10,555
Denominator:
Weighted average common shares outstanding - basic (in shares)	29,964	28,279
Shares for dilutive unvested stock and warrants (in shares)	148	484
Weighted average common shares outstanding - diluted (in shares)	30,112	28,763
Basic net income per share attributable to Sterling common stockholders (in dollars per share)	$ 0.64	$ 0.37
Diluted net income per share attributable to Sterling common stockholders (in dollars per share)	$ 0.64	$ 0.37

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Accounts receivable	$ 5,703	$ 7,238
Contracts in progress, net	(16,305)	(7,921)
Receivables from and equity in construction joint ventures	(2,396)	(1,513)
Other current and non-current assets	(1,399)	246
Accounts payable	(2,876)	12,799
Accrued compensation and other liabilities	(331)	59
Members' interest subject to mandatory redemption and undistributed earnings	(1,789)	325
Changes in operating assets and liabilities	$ (19,393)	$ 11,233

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Revenues	$ 410,320	$ 315,316
Operating Income	28,269	22,755
Acquisition related costs	(255)	0
Operating Segments
Segment Reporting Information [Line Items]
Revenues	410,320	315,316
Operating Income	34,329	27,839
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating Income	(5,805)	(5,084)
E-Infrastructure Solutions Backlog | Operating Segments
Segment Reporting Information [Line Items]
Revenues	168,927	96,572
Operating Income	21,285	17,812
Transportation Solutions Revenues | Operating Segments
Segment Reporting Information [Line Items]
Revenues	160,499	147,054
Operating Income	3,686	2,666
Building Solutions Backlog - Commercial | Operating Segments
Segment Reporting Information [Line Items]
Revenues	80,894	71,690
Operating Income	$ 9,358	$ 7,361