Sterling Infrastructure (STRL) 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 28, 2017
Document Information [Line Items]
Entity Registrant Name	STERLING CONSTRUCTION CO INC
Entity Central Index Key	874,238
Trading Symbol	strl
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		27,030,207
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 60,058,000	$ 42,785,000
Contracts receivable, including retainage	137,913,000	84,132,000
Costs and estimated earnings in excess of billings on uncompleted contracts	40,588,000	32,705,000
Inventories	3,521,000	3,708,000
Receivables from and equity in construction joint ventures	7,463,000	7,130,000
Other current assets	11,206,000	5,448,000
Total current assets	260,749,000	175,908,000
Property and equipment, net	61,275,000	68,127,000
Goodwill	90,971,000	54,820,000
Intangibles	39,490,000
Other assets, net	2,968,000	2,968,000
Total assets	455,453,000	301,823,000
Current liabilities:
Accounts payable	89,468,000	67,097,000
Billings in excess of costs and estimated earnings on uncompleted contracts	76,916,000	64,100,000
Current maturities of long-term debt	1,039,000	3,845,000
Income taxes payable	179,000	78,000
Accrued compensation	12,022,000	5,322,000
Other current liabilities	7,699,000	6,150,000
Total current liabilities	187,323,000	146,592,000
Long-term liabilities:
Long-term debt, net of current maturities	88,125,000	1,549,000
Member’s interest subject to mandatory redemption and undistributed earnings	46,346,000	45,230,000
Other long-term liabilities	473,000	362,000
Total long-term liabilities	134,944,000	47,141,000
Commitments and contingencies (Note 9)
Sterling stockholders’ equity:
Preferred stock, par value $0.01 per share; 1,000,000 shares authorized, none issued
Common stock, par value $0.01 per share; 28,000,000 shares authorized, 27,027,542 and 24,987,306 shares issued	270,000	250,000
Additional paid in capital	231,321,000	208,922,000
Retained deficit	(100,333,000)	(101,738,000)
Total Sterling common stockholders’ equity	131,258,000	107,434,000
Noncontrolling interests	1,928,000	656,000
Total equity	133,186,000	108,090,000
Total liabilities and equity	$ 455,453,000	$ 301,823,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	28,000,000	28,000,000
Common stock, shares issued (in shares)	27,027,542	24,987,306

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues	$ 246,412	$ 189,582	$ 399,828	$ 316,149
Cost of revenues	(221,207)	(174,039)	(365,336)	(297,058)
Gross profit	25,205	15,543	34,492	19,091
General and administrative expenses	(12,812)	(8,657)	(23,416)	(18,742)
Other operating income (expense), net	(4,037)	(3,505)	(4,508)	(3,434)
Operating income (loss)	8,356	3,381	6,568	(3,085)
Interest income	44	1	85	4
Interest expense	(2,984)	(812)	(3,096)	(1,685)
Loss on extinguishment of debt	(755)		(755)
Income (loss) before income taxes and earnings attributable to noncontrolling interests	4,661	2,570	2,802	(4,766)
Income tax expense	(98)	(27)	(125)	(27)
Net income (loss)	4,563	2,543	2,677	(4,793)
Noncontrolling owners’ interests in earnings of subsidiaries and joint ventures	(901)	(520)	(1,272)	(512)
Net income (loss) attributable to Sterling common stockholders	$ 3,662	$ 2,023	$ 1,405	$ (5,305)
Net income (loss) per share attributable to Sterling common stockholders:
Basic (in dollars per share)	$ 0.14	$ 0.09	$ 0.05	$ (0.25)
Diluted (in dollars per share)	$ 0.13	$ 0.09	$ 0.05	$ (0.25)
Weighted average number of common shares outstanding used in computing per share amounts:
Basic (in shares)	26,978	22,762	25,972	21,261
Diluted (in shares)	27,336	22,959	26,409	21,261

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Changes in Equity (Unaudited) - 6 months ended Jun. 30, 2017 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2016	24,987
Balance at Dec. 31, 2016	$ 250	$ 208,922	$ (101,738)	$ 656	$ 108,090
Net income			1,405	1,272	2,677
Stock-based compensation (in shares)	158
Stock-based compensation	$ 1	1,976			1,977
Stock issued for Tealstone acquisition (in shares)	1,882
Stock issued for Tealstone acquisition	$ 19	17,042			17,061
Warrants issued to lenders		3,500			3,500
Other (in shares)
Other		(119)			(119)
Balance (in shares) at Jun. 30, 2017	27,027
Balance at Jun. 30, 2017	$ 270	$ 231,321	$ (100,333)	$ 1,928	$ 133,186

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income (loss) attributable to Sterling common stockholders	$ 1,405	$ (5,305)
Plus: Noncontrolling owners’ interests in earnings of subsidiaries and joint ventures	1,272	512
Net income (loss)	2,677	(4,793)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	8,387	8,144
Gain on disposal of property and equipment	(396)	(274)
Stock-based compensation expense	1,977	805
Impairment on building held-for-sale	895
Changes in operating assets and liabilities:
Contracts receivable	(40,163)	(24,483)
Costs and estimated earnings in excess of billings on uncompleted contracts	(4,939)	(8,486)
Inventories	1,405	(1,190)
Receivables from and equity in construction joint ventures	(333)	5,565
Other assets	(2,429)	(504)
Accounts payable	12,922	20,894
Billings in excess of costs and estimated earnings on uncompleted contracts	12,513	26,358
Accrued compensation and other liabilities	(5,968)	5,877
Member’s interest subject to mandatory redemption and undistributed earnings	1,116	(1,178)
Net cash (used in) provided by operating activities	(12,336)	26,735
Cash flows from investing activities:
Tealstsone acquisition, net of cash acquired	(55,000)
Additions to property and equipment	(5,870)	(6,070)
Proceeds from sale of property and equipment	1,907	1,394
Net cash used in investing activities	(58,963)	(4,676)
Cash flows from financing activities:
Cash received–term loan	85,000
Cumulative repayments – term loan and other	(3,953)	(2,948)
Cumulative drawdowns – equipment-based revolver		19,000
Cumulative repayments – equipment-based revolver		(19,000)
Net proceeds from stock issued		19,144
Debt issuance costs	6,889
Loss on debt extinguishment	755
Distributions to noncontrolling interest owners
Other	(119)	(46)
Net cash provided by financing activities	88,572	16,150
Net increase in cash and cash equivalents	17,273	38,209
Cash and cash equivalents at beginning of period	42,785	4,426
Cash and cash equivalents at end of period	60,058	42,635
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	3,096	1,940
Cash paid during the period for income taxes	78
Non-cash items:
Transportation and construction equipment acquired through financing arrangements	70	511
Tealstone Construction [Member]
Non-cash items:
Notes and deferred payments to sellers	11,647
Equity Consideration for Tealstone Acquisition [Member] | Tealstone Construction [Member]
Non-cash items:
Other significant noncash transaction, value of consideration given	17,061
Warrants Issued to Lenders [Member] | Tealstone Construction [Member]
Non-cash items:
Other significant noncash transaction, value of consideration given	$ 3,500

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - Tealstone Construction [Member] - shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Equity Consideration for Tealstone Acquisition [Member]
Shares issued for Tealstone acquisition (in shares)	1,882,058
Warrants Issued to Lenders [Member]
Warrants issued to lenders (in shares)	1,000,000

Note 1 - Business Summary and S

Note 1 - Business Summary and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Business Summary and Significant Accounting Policies Business Summary Sterling Construction Company, Inc. (“Sterling” or “the Company”), a Delaware corporation, is a leading heavy civil construction company that specializes in the building and reconstruction of transportation infrastructure, water infrastructure, and residential and commercial concrete projects in Texas, Utah, Nevada, Colorado, Arizona, California, Hawaii and other states in which there are construction opportunities. Its heavy civil construction projects include highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, multi-family homes, commercial projects and parking structures. Its residential concrete construction projects include concrete foundations for single-family homes. Presentation The condensed consolidated financial statements included herein have been prepared by Sterling, without audit, in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the Annual Report on Form 10 December 31, 2016 ( “2016 10 June 30, 2017 December 31, 2016 not may three six June 30, 2017 not On April 3, 2017, 100% Tealstone $85,000,000 April 4, 2022, two 13 Significant Accounting Policies The Company’s significant accounting policies are more fully described in Note 1 2016 10 not · revenue recognition · contracts receivable, including retainage · valuation of property and equipment, goodwill and other long-lived assets · income taxes · segment reporting There have been no December 31, 2016. Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of subsidiaries and construction joint ventures in which the Company has a greater than 50% not not no 50%. 4 Where the Company is a noncontrolling joint venture partner, and otherwise not 5 Under GAAP, the Company must determine whether each entity, including joint ventures in which it participates, is a variable interest entity (“VIE”). This determination focuses on identifying which owner or joint venture partner, if any, has the power to direct the activities of the entity and the obligation to absorb losses of the entity or the right to receive benefits from the entity disproportionate to its interest in the entity, which could have the effect of requiring the Company to consolidate the entity in which it has a noncontrolling variable interest. Refer to Note 6 Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions 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 of the Company’s accounting policies require higher degrees of judgment than others in their application. These include the recognition of revenue and earnings from construction contracts under the percentage-of-completion method, the valuation of long-term assets, purchase accounting, including intangibles and goodwill, and income taxes. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates. Reclassification Reclassifications have been made to historical financial data on our condensed consolidated financial statements to conform to our current year presentation. Revenue Recognition Heavy Civil Construction The Company engages in various types of heavy civil construction projects principally for public (government) owners. Credit risk is minimal with public owners since the Company ascertains that funds have been appropriated by the governmental project owner prior to commencing work on such projects. While most public contracts are subject to termination at the election of the government entity, in the event of termination the Company is entitled to receive the contract price for completed work and reimbursement of termination-related costs. Credit risk with private owners is minimized because of statutory mechanic’s liens, which give the Company high priority in the event of lien foreclosures following financial difficulties of private owners. Our contracts generally take 12 36 one two Revenues are recognized on the percentage-of-completion method, measured by the ratio of costs incurred up to a given date to estimated total costs for each contract. This cost to cost measure is used because management considers it to be the best available measure of progress on these contracts. Contract costs include all direct material, labor, subcontract and other costs and those indirect costs related to contract performance, such as indirect salaries and wages, equipment repairs and depreciation, insurance and payroll taxes. Administrative and general expenses are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions and estimated profitability, including those changes arising from contract penalty provisions and final contract settlements may Changes in estimated revenues and gross margin resulted in a net charge of $1.8 $1.1 three six June 30, 2017, . $0.7 $0.5 three six June 30, 2016, . Change orders are modifications of an original contract that effectively change the existing provisions of the contract without adding new provisions or terms. Change orders may may The Company considers unapproved change orders to be contract variations for which we have customer approval for a change of scope but a price change associated with the scope change has not may The Company considers claims to be amounts in excess of agreed contract prices that we seek to collect from our customers or others for customer-caused delays, errors in specifications and designs, contract terminations, change orders that are either in dispute or are unapproved as to both scope and price, or other causes of unanticipated additional contract costs. Claims are included in the calculation of revenue when realization is probable and amounts can be reliably determined to the extent costs are incurred. To support these requirements, the existence of the following items must be satisfied: (i) The contract or other evidence provides a legal basis for the claim; or a legal opinion has been obtained, stating that under the circumstances there is a reasonable basis to support the claim; (ii) Additional costs are caused by circumstances that were unforeseen at the contract date and are not not may not The Company has projects where we are in the process of negotiating, or awaiting final approval of, unapproved change orders and claims with our 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 our customers and negotiations with the customers are ongoing. If additional progress with an acceptable resolution is not Based upon our review of the provisions of our contracts, specific costs incurred and other related evidence supporting the unapproved change orders, claims and our entitled unpaid project price, together with the views of the Company’s outside claim consultants, we concluded that including the unapproved change order, claim and entitled unpaid project price amounts of $1.4 $12.0 $3.9 June 30, 2017, $2.2 $9.2 $3.9 December 31, 2016, may Residential Construction Residential construction revenue and related profit is recognized when construction is completed. The time from starting construction to finishing is typically one Financial Instruments and Fair Value The fair value of financial instruments is the amount at which the instrument could be exchanged in a current transaction between willing parties. The Company’s financial instruments are cash and cash equivalents, restricted cash used as collateral for a letter of credit and restricted cash maintained in an escrow account, short-term contracts receivable, accounts payable, notes payable, and a term loan (the “Loan”) with Oaktree Capital Management, L.P. The recorded values of cash and cash equivalents, restricted cash, short-term contracts receivable and accounts payable approximate their fair values based on their liquidity and/or short-term nature. Refer to Note 8 not 10 2016 10 In order to assess the fair value of the Company’s financial instruments, the Company uses the fair value hierarchy established by GAAP which prioritizes the inputs used in valuation techniques into the following three Level 1 Level 2 1 not Level 3 For each financial instrument, the Company uses the highest priority level input that is available in order to appropriately value that particular instrument. In certain instances, Level 1 not 2 3 Recently Adopted Accounting Pronouncements In January 2017, No. 2017 04 350 2 two December 15, 2019. January 1, 2017. January 1, 2017. not Recently Issued Accounting Pronouncements In May 2017, No. 2017 09 718 December 15, 2017. not In January 2017, No. 2017 01 805 not 606. December 15, 2017 not In November 2016, No. 2016 18 230 December 15, 2017, not In August 2016, No. 2016 15 230 December 15, 2018. In February 2016, No. 2016 02, 842 December 15, 2018, In May 2014, 2014 09, five 1 2 3 4 5 August 2015, 2015 14 2014 09 one 2014 09 December 15, 2017, No. 2016 08, No. 2016 10, 2016 12, The new revenue recognition standard prescribes a five not We will adopt the requirements of the new standard effective January 1, 2018 not 2017.

Note 2 - Tealstone Acquisition

Note 2 - Tealstone Acquisition	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2. Tealstone Acquisition General On April 3, 2017, 100% Tealstone $55,000,000 1,882,058 Placement Shares $5,000,000 $2,500,000 $7,500,000 second third $15,000,000 may third fourth The preliminary acquisition-date fair value of the consideration transferred totaled $83.7 Fair value of consideration transferred (amounts in thousands): Cash $ 55,000 Common stock (1,882,058 shares) 17,061 Promissory notes 4,436 Deferred payments 7,211 Total $ 83,708 The fair value of the 1,882,058 The promissory notes and deferred payments have been discounted using a preliminary 12% $15,000,000 third fourth not Preliminary Purchase Price Allocation The aggregate purchase price noted above was allocated to the major categories of assets and liabilities acquired based upon their estimated fair values at the acquisition closing date, which were based, in part, upon outside preliminary appraisals for certain assets, including specifically-identified intangible assets. The excess of the purchase price over the preliminary estimated fair value of the net tangible and identifiable intangible assets acquired totaling $36.2 The following table summarizes our preliminary goodwill addition (in thousands): Balance at January 1, 2016 and 2017 $ 54,820 Additional goodwill related to acquisition 36,151 Balance at June 30, 2017 $ 90,971 The following table summarizes our preliminary purchase price allocation at the acquisition closing date (in thousands): Cash $ -- Accounts receivable 13,618 Costs and estimated earnings in excess of billings on uncompleted contracts 2,944 Inventory 1,218 Other current assets 54 Property, plant and equipment 565 Other assets, net 1 Identifiable intangible assets and Goodwill 76,151 Accounts payable (9,449 ) Billings in excess of costs and estimated earnings on uncompleted contracts (303 ) Accrued expenses (823 ) State income tax payable (268 ) Total Consideration $ 83,708 The purchase price allocation and related amortization periods are based upon preliminary information and are subject to change when additional information concerning final asset and liability valuations is obtained. We have not may $40.0 $0.5 three June 30, 2017. 10% $4.0 $0.2 Supplemental Pro Forma Information (Unaudited) The following unaudited pro forma condensed combined financial information (“the pro forma financial information”) gives effect to the acquisition of Tealstone by Sterling, accounted for as a business combination using the purchase method of accounting. To give effect to the Tealstone Acquisition for pro forma financial information purposes, Tealstone’s commercial historical results were brought to within one three six June 30, 2017, three six May 31, 2017, 1 2 3 three six June 30, 2017. not not Three Months Six Months 2017 2016 2017 2016 Pro forma Revenue $ 250,032 $ 236,712 $ 444,957 $ 402,771 Pro forma net income attributable to Sterling $ 3,190 $ 6,536 $ 1,716 $ 3,046

Note 3 - Cash and Cash Equivale

Note 3 - Cash and Cash Equivalents and Restricted Cash	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	3. Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with original or remaining maturities of three 6 June 30, 2017 December 31, 2016, $19.7 $24.1 June 30, 2017 December 31, 2016, $19.6 $10.9 not Restricted cash of approximately $3.0 June 30, 2017 December 31, 2016 9 $2.0 June 30, 2017 December 31, 2016 The Company holds cash on deposit in U.S. banks, at times, in excess of federally insured limits. Management does not

Note 4 - Subsidiaries and Joint

Note 4 - Subsidiaries and Joint Ventures With Noncontrolling Owners' Interests	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Noncontrolling Interest Disclosure [Text Block]	4. Subsidiaries and Joint Ventures with Noncontrolling Owners’ Interests The amended agreements, as described in Note 4 2016 10 50% $40.0 June 30, 2017 December 31, 2016 Members’ interest subject to mandatory redemption $ 40,000 $ 40,000 Net accumulated earnings 6,346 5,230 Total liability $ 46,346 $ 45,230 Earnings, which were included in net accumulated earnings and represent 50% three six June 30, 2017 $2.6 $2.5 $3.9 June 30, 2016. Changes in Noncontrolling Interests The following table summarizes the changes in the noncontrolling owners’ interests in subsidiaries and joint ventures (amounts in thousands): Six Months Ended 2017 2016 Balance, beginning of period $ 656 $ (91 ) Net income attributable to noncontrolling interest included in equity 1,272 512 Distributions to noncontrolling interest owners - - Balance, end of period $ 1,928 $ (421 ) The increase in net income attributable to noncontrolling interest included in equity is due to the Company’s the addition of a Utah based majority-owned joint venture which was not

Note 5 - Construction Joint Ven

Note 5 - Construction Joint Ventures	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	5. Construction Joint Ventures The Company participates in various construction joint ventures. Generally, each construction joint venture is formed to construct a specific project and is jointly controlled by the joint venture partners. Refer to Note 5 2016 10 June 30, December 31, Total combined: Current assets $ 45,034 $ 32,592 Less current liabilities (64,672 ) (57,598 ) Net assets $ (19,638 ) $ (25,006 ) Backlog $ 75,670 $ 107,333 Sterling’s noncontrolling interest in backlog $ 38,751 $ 52,992 Sterling’s receivables from and equity in construction joint ventures $ 7,463 $ 7,130 Three Months Ended Six Months Ended 2017 2016 2017 2016 Total combined: Revenues $ 18,897 $ 19,750 $ 33,507 $ 28,554 Income before tax 1,497 1,379 2,670 1,913 Sterling’s noncontrolling interest: Revenues $ 8,674 $ 7,684 $ 15,163 $ 11,464 Income before tax 718 593 1,271 851 Approximately $39 June 30, 2017 50% 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 complete and the warranty period, if any, has passed.

Note 6 - Variable Interest Enti

Note 6 - Variable Interest Entities	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Variable Interest Entities [Text Block]	6. Variable Interest Entities The Company owns a 50% August 1, 2011, 6 2016 10 The condensed financial information of Myers, which is reflected in the Company’s condensed consolidated balance sheets and statements of operations, is as follows (amounts in thousands): June 30, 2017 December 31, 2016 Assets: Current assets: Cash and cash equivalents $ 2,348 $ 9,655 Contracts receivable, including retainage 25,991 15,046 Other current assets 11,702 10,208 Total current assets 40,041 34,909 Property and equipment, net 9,077 9,824 Goodwill 1,501 1,501 Total assets $ 50,619 $ 46,234 Liabilities: Current liabilities: Accounts payable $ 20,160 $ 21,274 Other current liabilities 17,504 8,782 Total current liabilities 37,664 30,056 Long-term liabilities: Other long-term liabilities 321 5,373 Total liabilities $ 37,985 $ 35,429 Three Months Ended Six Months Ended June 30, 2017 2016 2017 2016 Revenues $ 38,783 $ 43,967 $ 62,067 $ 70,910 Operating income 2,246 1,982 2,640 2,174 Net income attributable to Sterling common stockholders 1,121 989 1,316 1,083

Note 7 - Property and Equipment

Note 7 - Property and Equipment	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	7. Property and Equipment Property and equipment are summarized as follows (amounts in thousands): June 30, December 31, Construction equipment $ 120,991 $ 121,441 Transportation equipment 19,060 19,017 Buildings 8,713 12,771 Office equipment 3,108 3,108 Leasehold improvement 914 914 Construction in progress 317 313 Land 3,509 3,509 Water rights 200 200 156,812 161,273 Less accumulated depreciation (95,537 ) (93,146 ) Total property and equipment, net $ 61,275 $ 68,127 During the quarter ended June 30, 2017, one $4.1 $3.2 third 2017. $0.9 June 30, 2017.

Note 8 - Debt

Note 8 - Debt	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	8. Debt Debt consists of the following (in thousands): June 30, December 31, Loan $ 85,000 $ 3.532 Less deferred loan costs and discount (9,869 ) (803 ) Total Loan, net 75,131 2,729 Notes and deferred payments to sellers, Tealstone acquisition 11,909 - Notes payable for transportation and construction equipment and other 2,124 2,665 89,164 5,394 Current maturities of long-term debt 1,039 4,648 Less current deferred loan costs - (803 ) Less current maturities of long-term debt, net (1,039 ) (3,845 ) Total long-term debt $ 88,125 $ 1,549 On April 3, 2017, $85,000,000 April 4, 2022, Interest on the Loan is equal to the one two three six 8.75% no 75% The Loan Agreement contains various covenants that limit, among other things, the Company’s ability and certain of its subsidiaries’ ability to incur certain indebtedness, grant certain liens, merge or consolidate, sell assets, make certain loans, enter into acquisitions, incur capital expenditures, make investments, and pay dividends. In addition, the Company is required to maintain the following principal financial covenants: · a ratio of secured indebtedness to EBITDA of not 3.10 1.00 four June 30, 2017, 1.80 1.00 four September 30, 2019; · daily cash collateral of not $10,000,000 June 30, 2017, $15,000,000 October 1, 2017, $18,000,000 April 4, 2018; · a rolling four not $60,000,000 June 30, 2017, $70,000,000 March 31, 2019; · the incurrence of net capital expenditures during each four not $15,000,000; · bonding capacity shall be maintained at all times in an amount not $1,000,000,000; · the EBITDA of Tealstone Residential Concrete, Inc. shall not $12,000,000 four June 30, 2017. The Company is in compliance with these covenants at June 30, 2017. The Loan Agreement also includes customary events of default, including events of default relating to non-payment of principal or interest, inaccuracy of representations and warranties, breaches of covenants, cross-defaults, bankruptcy and insolvency events, certain unsatisfied judgments, loan documents not Deferred loan costs and discounts totaled $10.4 $3.5 11 five $0.5 three six June 30, 2017. As part of the extinguishment of our prior credit facility, $0.8 three six June 30, 2017. Fair Value The Company’s debt is recorded at its carrying amount in the condensed consolidated balance sheets. As of June 30, 2017 December 31, 2016, $85.0 $3.5 no June 30, 2017 no December 31, 2016. Notes and Deferred Payments to Sellers As part of the Tealstone Acquisition, the Company issued $5,000,000 $2,500,000, $7,500,000 12% $11.6 $0.3 three six June 30, 2017, Notes Payable for Transportation and Construction Equipment The Company has purchased and financed various transportation and construction equipment to enhance the Company’s fleet of equipment. The total long-term notes payable related to the purchase of financed equipment was $2.1 $2.7 June 30, 2017 December 31, 2016, 3 5 3.15% 6.92% Interest Expense Interest expense related to our Loan and prior credit facility and other debt for the three six June 30, 2017 $3.0 $3.1 $0.8 $1.7 three six June 30, 2016,

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. Commitments and Contingencies The Company is required by our former insurance provider to obtain and hold a standby letter of credit. This letter of credit serves as a guarantee by the banking institution to pay our former insurance provider the incurred claim costs attributable to our general liability, workers compensation and automobile liability claims, up to the amount stated in the standby letter of credit, in the event that these claims were not 3 The Company is the subject of certain other claims and lawsuits occurring in the normal course of business. Management, after consultation with legal counsel, does not

Note 10 - Income Taxes

Note 10 - Income Taxes	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10. Income Taxes The Company and its subsidiaries file U.S. federal and various U.S. state income tax returns. Current income tax expense or (benefit) represents federal and state taxes based on tax paid or expected to be payable or receivable for the periods shown in the condensed consolidated statements of operations. The Company is expecting a current federal liability for alternative minimum tax. The Company may not three six June 30, 2017 three six June 30, 2016. The Company’s deferred tax expense or (benefit) reflects the change in deferred tax assets or liabilities. The Company performs an analysis at the end of each reporting period to determine whether it is more likely than not June 30, 2017 December 31, 2016. no three six June 30, 2017. As a result of the Company’s analysis, management has determined that the Company does not

Note 11 - Stockholder's Equity

Note 11 - Stockholder's Equity	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	11. Stockholder’s Equity Stock Offering On April 3, 2017, 1,882,058 $17.1 On May 9, 2016, 5,175,000 $4.00 $3.77 $19.1 Warrants On April 3, 2017, five 1,000,000 $10.25 The Company valued these Warrants using the Black-Scholes model, which is a type 3 At April 3, Current stock price $ 8.88 Exercise option price $ 10.25 Expected term of warrants (in years) 5 Expected volatility rate 48.29 % Risk-free rate 1.88 % Expected dividend yield 0.00 % Based on these inputs, the total fair value of the warrants was $3.5 Stock-Based Compensation The Company has a stock-based incentive plan that is administered by the Compensation Committee of the Board of Directors. Refer to Note 14 2016 10 During the three six June 30, 2017, 102,571 166,410 $1.4 $2.0 three six June 30, 2017, $0.7 $0.4 $0.8 three six June 30, 2016, At June 30, 2017 2016, $1.5 $2.7 2.2 June 30, 2017, 0.5

Note 12 - Net Income (Loss) Per

Note 12 - Net Income (Loss) Per Share Attributable to Sterling Common Stockholders	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	12. Net Income (Loss) per Share Attributable to Sterling Common Stockholders Basic net income (loss) per share attributable to Sterling common stockholders is computed by dividing net income (loss) attributable to Sterling common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share attributable to Sterling common stockholders is the same as basic net income (loss) per share attributable to Sterling common stockholders but includes dilutive unvested stock and warrants using the treasury stock method. The following table reconciles the numerators and denominators of the basic and diluted per common share computations for net income (loss) attributable to Sterling common stockholders (amounts in thousands, except per share data): Three Months Six Months 2017 2016 2017 2016 Numerator: Net income (loss) attributable to Sterling common stockholders $ 3,662 $ 2,023 $ 1,405 $ (5,305 ) Weighted average common shares outstanding — basic 26,978 22,762 25,972 21,261 Shares for dilutive unvested stock and warrants 358 197 437 - Weighted average common shares outstanding and incremental shares assumed repurchased— diluted 27,336 22,959 26,409 21,261 Basic income (loss) per share attributable to Sterling common stockholders $ 0.14 $ 0.09 $ 0.05 $ (0.25 ) Diluted income (loss) per share attributable to Sterling common stockholders $ 0.13 $ 0.09 $ 0.05 $ (0.25 ) In accordance with the treasury stock method approximately 0.2 six June 30, 2016, 1.0 three six June 30, 2017,

Note 13 - Segment Information

Note 13 - Segment Information	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. Segment Information Due to the April 3, 2017 two two two one Segment reporting is aligned based upon the services offered by our two The following table presents total revenue and income from operations by reportable segment for the three six June 30, 2017 2016 Three Months Ended Six Months 2017 2016 2017 2016 Revenue Heavy Civil Construction $ 209,194 $ 189,582 $ 362,610 $ 316,149 Residential Construction 37,218 - 37,218 - Total Revenue $ 246,412 $ 189,582 $ 399,828 $ 316,149 Operating Income Heavy Civil Construction $ 3,141 $ 3,381 $ 1,667 $ (3,085 ) Residential Construction 5,215 - 4,901 - Total Operating Income $ 8,356 $ 3,381 $ 6,568 $ (3,085 ) From the acquisition closing date of April 3, 2017, June 30, 2017, $42.5 $5.5 The following table presents total assets by reportable segment at June 30, 2017 December 31, 2016: June 30, December 31, 2016 Assets Heavy Civil Construction $ 356,661 $ 301,823 Residential Construction 98,792 - Total Assets $ 455,453 $ 301,823 The Company is in the process of finalizing the purchase accounting, which will affect the allocation of goodwill by reportable segments. Refer to Note 2. $36.2

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of subsidiaries and construction joint ventures in which the Company has a greater than 50% not not no 50%. 4 Where the Company is a noncontrolling joint venture partner, and otherwise not 5 Under GAAP, the Company must determine whether each entity, including joint ventures in which it participates, is a variable interest entity (“VIE”). This determination focuses on identifying which owner or joint venture partner, if any, has the power to direct the activities of the entity and the obligation to absorb losses of the entity or the right to receive benefits from the entity disproportionate to its interest in the entity, which could have the effect of requiring the Company to consolidate the entity in which it has a noncontrolling variable interest. Refer to Note 6
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions 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 of the Company’s accounting policies require higher degrees of judgment than others in their application. These include the recognition of revenue and earnings from construction contracts under the percentage-of-completion method, the valuation of long-term assets, purchase accounting, including intangibles and goodwill, and income taxes. Management continually evaluates all of its estimates and judgments based on available information and experience; however, actual results could differ from these estimates.
Reclassification, Policy [Policy Text Block]	Reclassification Reclassifications have been made to historical financial data on our condensed consolidated financial statements to conform to our current year presentation.
Revenue Recognition, Percentage-of-Completion Method [Policy Text Block]	Revenue Recognition Heavy Civil Construction The Company engages in various types of heavy civil construction projects principally for public (government) owners. Credit risk is minimal with public owners since the Company ascertains that funds have been appropriated by the governmental project owner prior to commencing work on such projects. While most public contracts are subject to termination at the election of the government entity, in the event of termination the Company is entitled to receive the contract price for completed work and reimbursement of termination-related costs. Credit risk with private owners is minimized because of statutory mechanic’s liens, which give the Company high priority in the event of lien foreclosures following financial difficulties of private owners. Our contracts generally take 12 36 one two Revenues are recognized on the percentage-of-completion method, measured by the ratio of costs incurred up to a given date to estimated total costs for each contract. This cost to cost measure is used because management considers it to be the best available measure of progress on these contracts. Contract costs include all direct material, labor, subcontract and other costs and those indirect costs related to contract performance, such as indirect salaries and wages, equipment repairs and depreciation, insurance and payroll taxes. Administrative and general expenses are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions and estimated profitability, including those changes arising from contract penalty provisions and final contract settlements may Changes in estimated revenues and gross margin resulted in a net charge of $1.8 $1.1 three six June 30, 2017, . $0.7 $0.5 three six June 30, 2016, . Change orders are modifications of an original contract that effectively change the existing provisions of the contract without adding new provisions or terms. Change orders may may The Company considers unapproved change orders to be contract variations for which we have customer approval for a change of scope but a price change associated with the scope change has not may The Company considers claims to be amounts in excess of agreed contract prices that we seek to collect from our customers or others for customer-caused delays, errors in specifications and designs, contract terminations, change orders that are either in dispute or are unapproved as to both scope and price, or other causes of unanticipated additional contract costs. Claims are included in the calculation of revenue when realization is probable and amounts can be reliably determined to the extent costs are incurred. To support these requirements, the existence of the following items must be satisfied: (i) The contract or other evidence provides a legal basis for the claim; or a legal opinion has been obtained, stating that under the circumstances there is a reasonable basis to support the claim; (ii) Additional costs are caused by circumstances that were unforeseen at the contract date and are not not may not The Company has projects where we are in the process of negotiating, or awaiting final approval of, unapproved change orders and claims with our 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 our customers and negotiations with the customers are ongoing. If additional progress with an acceptable resolution is not Based upon our review of the provisions of our contracts, specific costs incurred and other related evidence supporting the unapproved change orders, claims and our entitled unpaid project price, together with the views of the Company’s outside claim consultants, we concluded that including the unapproved change order, claim and entitled unpaid project price amounts of $1.4 $12.0 $3.9 June 30, 2017, $2.2 $9.2 $3.9 December 31, 2016, may Residential Construction Residential construction revenue and related profit is recognized when construction is completed. The time from starting construction to finishing is typically one
Fair Value of Financial Instruments, Policy [Policy Text Block]	Financial Instruments and Fair Value The fair value of financial instruments is the amount at which the instrument could be exchanged in a current transaction between willing parties. The Company’s financial instruments are cash and cash equivalents, restricted cash used as collateral for a letter of credit and restricted cash maintained in an escrow account, short-term contracts receivable, accounts payable, notes payable, and a term loan (the “Loan”) with Oaktree Capital Management, L.P. The recorded values of cash and cash equivalents, restricted cash, short-term contracts receivable and accounts payable approximate their fair values based on their liquidity and/or short-term nature. Refer to Note 8 not 10 2016 10 In order to assess the fair value of the Company’s financial instruments, the Company uses the fair value hierarchy established by GAAP which prioritizes the inputs used in valuation techniques into the following three Level 1 Level 2 1 not Level 3 For each financial instrument, the Company uses the highest priority level input that is available in order to appropriately value that particular instrument. In certain instances, Level 1 not 2 3
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In January 2017, No. 2017 04 350 2 two December 15, 2019. January 1, 2017. January 1, 2017. not Recently Issued Accounting Pronouncements In May 2017, No. 2017 09 718 December 15, 2017. not In January 2017, No. 2017 01 805 not 606. December 15, 2017 not In November 2016, No. 2016 18 230 December 15, 2017, not In August 2016, No. 2016 15 230 December 15, 2018. In February 2016, No. 2016 02, 842 December 15, 2018, In May 2014, 2014 09, five 1 2 3 4 5 August 2015, 2015 14 2014 09 one 2014 09 December 15, 2017, No. 2016 08, No. 2016 10, 2016 12, The new revenue recognition standard prescribes a five not We will adopt the requirements of the new standard effective January 1, 2018 not 2017.

Note 2 - Tealstone Acquisition

Note 2 - Tealstone Acquisition (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Cash $ 55,000 Common stock (1,882,058 shares) 17,061 Promissory notes 4,436 Deferred payments 7,211 Total $ 83,708 Cash $ -- Accounts receivable 13,618 Costs and estimated earnings in excess of billings on uncompleted contracts 2,944 Inventory 1,218 Other current assets 54 Property, plant and equipment 565 Other assets, net 1 Identifiable intangible assets and Goodwill 76,151 Accounts payable (9,449 ) Billings in excess of costs and estimated earnings on uncompleted contracts (303 ) Accrued expenses (823 ) State income tax payable (268 ) Total Consideration $ 83,708
Business Combination, Segment Allocation [Table Text Block]	Balance at January 1, 2016 and 2017 $ 54,820 Additional goodwill related to acquisition 36,151 Balance at June 30, 2017 $ 90,971
Business Acquisition, Pro Forma Information [Table Text Block]	Three Months Six Months 2017 2016 2017 2016 Pro forma Revenue $ 250,032 $ 236,712 $ 444,957 $ 402,771 Pro forma net income attributable to Sterling $ 3,190 $ 6,536 $ 1,716 $ 3,046

Note 4 - Subsidiaries and Joi23

Note 4 - Subsidiaries and Joint Ventures With Noncontrolling Owners' Interests (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Components of Agreement Obligation [Table Text Block]	June 30, 2017 December 31, 2016 Members’ interest subject to mandatory redemption $ 40,000 $ 40,000 Net accumulated earnings 6,346 5,230 Total liability $ 46,346 $ 45,230
Schedule of Changes in Noncontrolling Interests and Joint Ventures [Table Text Block]	Six Months Ended 2017 2016 Balance, beginning of period $ 656 $ (91 ) Net income attributable to noncontrolling interest included in equity 1,272 512 Distributions to noncontrolling interest owners - - Balance, end of period $ 1,928 $ (421 )

Note 5 - Construction Joint V24

Note 5 - Construction Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Condensed Balance Sheet [Table Text Block]	June 30, December 31, Total combined: Current assets $ 45,034 $ 32,592 Less current liabilities (64,672 ) (57,598 ) Net assets $ (19,638 ) $ (25,006 ) Backlog $ 75,670 $ 107,333 Sterling’s noncontrolling interest in backlog $ 38,751 $ 52,992 Sterling’s receivables from and equity in construction joint ventures $ 7,463 $ 7,130
Condensed Income Statement [Table Text Block]	Three Months Ended Six Months Ended 2017 2016 2017 2016 Total combined: Revenues $ 18,897 $ 19,750 $ 33,507 $ 28,554 Income before tax 1,497 1,379 2,670 1,913 Sterling’s noncontrolling interest: Revenues $ 8,674 $ 7,684 $ 15,163 $ 11,464 Income before tax 718 593 1,271 851

Note 6 - Variable Interest En25

Note 6 - Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Variable Interest Entities [Table Text Block]	June 30, 2017 December 31, 2016 Assets: Current assets: Cash and cash equivalents $ 2,348 $ 9,655 Contracts receivable, including retainage 25,991 15,046 Other current assets 11,702 10,208 Total current assets 40,041 34,909 Property and equipment, net 9,077 9,824 Goodwill 1,501 1,501 Total assets $ 50,619 $ 46,234 Liabilities: Current liabilities: Accounts payable $ 20,160 $ 21,274 Other current liabilities 17,504 8,782 Total current liabilities 37,664 30,056 Long-term liabilities: Other long-term liabilities 321 5,373 Total liabilities $ 37,985 $ 35,429
Condensed Income Statement [Table Text Block]	Three Months Ended Six Months Ended 2017 2016 2017 2016 Total combined: Revenues $ 18,897 $ 19,750 $ 33,507 $ 28,554 Income before tax 1,497 1,379 2,670 1,913 Sterling’s noncontrolling interest: Revenues $ 8,674 $ 7,684 $ 15,163 $ 11,464 Income before tax 718 593 1,271 851
Myers and Sons Construction [Member]
Notes Tables
Condensed Income Statement [Table Text Block]	Three Months Ended Six Months Ended June 30, 2017 2016 2017 2016 Revenues $ 38,783 $ 43,967 $ 62,067 $ 70,910 Operating income 2,246 1,982 2,640 2,174 Net income attributable to Sterling common stockholders 1,121 989 1,316 1,083

Note 7 - Property and Equipme26

Note 7 - Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, December 31, Construction equipment $ 120,991 $ 121,441 Transportation equipment 19,060 19,017 Buildings 8,713 12,771 Office equipment 3,108 3,108 Leasehold improvement 914 914 Construction in progress 317 313 Land 3,509 3,509 Water rights 200 200 156,812 161,273 Less accumulated depreciation (95,537 ) (93,146 ) Total property and equipment, net $ 61,275 $ 68,127

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	June 30, December 31, Loan $ 85,000 $ 3.532 Less deferred loan costs and discount (9,869 ) (803 ) Total Loan, net 75,131 2,729 Notes and deferred payments to sellers, Tealstone acquisition 11,909 - Notes payable for transportation and construction equipment and other 2,124 2,665 89,164 5,394 Current maturities of long-term debt 1,039 4,648 Less current deferred loan costs - (803 ) Less current maturities of long-term debt, net (1,039 ) (3,845 ) Total long-term debt $ 88,125 $ 1,549

Note 11 - Stockholder's Equity

Note 11 - Stockholder's Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	At April 3, Current stock price $ 8.88 Exercise option price $ 10.25 Expected term of warrants (in years) 5 Expected volatility rate 48.29 % Risk-free rate 1.88 % Expected dividend yield 0.00 %

Note 12 - Net Income (Loss) P29

Note 12 - Net Income (Loss) Per Share Attributable to Sterling Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Six Months 2017 2016 2017 2016 Numerator: Net income (loss) attributable to Sterling common stockholders $ 3,662 $ 2,023 $ 1,405 $ (5,305 ) Weighted average common shares outstanding — basic 26,978 22,762 25,972 21,261 Shares for dilutive unvested stock and warrants 358 197 437 - Weighted average common shares outstanding and incremental shares assumed repurchased— diluted 27,336 22,959 26,409 21,261 Basic income (loss) per share attributable to Sterling common stockholders $ 0.14 $ 0.09 $ 0.05 $ (0.25 ) Diluted income (loss) per share attributable to Sterling common stockholders $ 0.13 $ 0.09 $ 0.05 $ (0.25 )

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months 2017 2016 2017 2016 Revenue Heavy Civil Construction $ 209,194 $ 189,582 $ 362,610 $ 316,149 Residential Construction 37,218 - 37,218 - Total Revenue $ 246,412 $ 189,582 $ 399,828 $ 316,149 Operating Income Heavy Civil Construction $ 3,141 $ 3,381 $ 1,667 $ (3,085 ) Residential Construction 5,215 - 4,901 - Total Operating Income $ 8,356 $ 3,381 $ 6,568 $ (3,085 ) June 30, December 31, 2016 Assets Heavy Civil Construction $ 356,661 $ 301,823 Residential Construction 98,792 - Total Assets $ 455,453 $ 301,823

Note 1 - Business Summary and31

Note 1 - Business Summary and Significant Accounting Policies (Details Textual)	Apr. 03, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Number of Reportable Segments	2			2
Ownership Interest in Joint Venture				50.00%
Costs and Estimated Earnings in Excess of Billings [Member]
Contracts Receivable, Claims and Uncertain Amounts		$ 12,000,000		$ 12,000,000		$ 9,200,000
Contracts Receivable, Unpaid Project Contract Price		3,900,000		3,900,000		3,900,000
Unapproved Change Orders, Amount		1,400,000		1,400,000		$ 2,200,000
Operating Income (Loss) [Member]
Estimated Construction Gross (Loss) Profit, Before Tax		$ 1,800,000	$ 700,000	$ 1,100,000	$ (500,000)
Minimum [Member]
Ownership Interest in Joint Venture				50.00%
Revenue Recognition Percentage of Completion Range				12 years
Warranty Term				1 year
Maximum [Member]
Revenue Recognition Percentage of Completion Range				36 years
Warranty Term				2 years
Loan and Security Agreement [Member] | Wilmington Trust, National Association [Member] | Senior Secured Term Loans [Member]
Debt Instrument, Face Amount	$ 85,000,000
Tealstone Construction [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100.00%

Note 2 - Tealstone Acquisitio32

Note 2 - Tealstone Acquisition (Details Textual) - USD ($)	Apr. 03, 2020	Apr. 03, 2019	Apr. 03, 2017	Jun. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Goodwill				$ 90,971,000	$ 90,971,000	$ 54,820,000
Common Stock [Member]
Stock Issued During Period, Shares, Acquisitions					1,882,000
Tealstone Construction [Member]
Business Acquisition, Percentage of Voting Interests Acquired			100.00%
Payments to Acquire Businesses, Gross			$ 55,000,000
Business Combination, Consideration Transferred, Liabilities Incurred			4,436,000
Business Combination, Contingent Consideration, Liability			15,000,000
Business Combination, Consideration Transferred			$ 83,708,000
Fair Value Inputs, Discount Rate			12.00%
Goodwill			$ 36,200,000	90,971,000	$ 90,971,000	$ 54,820,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			$ 40,000,000
Amortization of Intangible Assets				500,000
Goodwill, Purchase Accounting Adjustments, With 10% Change in Valuation of Intangible Assets				4,000,000
Business Combination, Provisional Information, Amortization Expense Adjustment, With 10% Change in Valuation of Intangible Assets				$ 200,000
Tealstone Construction [Member] | Scenario, Forecast [Member]
Payments to Acquire Businesses, Gross	$ 7,500,000	$ 2,500,000
Tealstone Construction [Member] | Common Stock [Member]
Stock Issued During Period, Shares, Acquisitions			1,882,058

Note 2 - Tealstone Acquisitio33

Note 2 - Tealstone Acquisition - Acquisition-date Fair Value of Consideration Transferred (Details) - Tealstone Construction [Member]	Apr. 03, 2017USD ($)
Cash	$ 55,000,000
Common stock (1,882,058 shares)	17,061,000
Promissory notes	4,436,000
Deferred payments	7,211,000
Total	83,708,000
Cash
Accounts receivable	13,618,000
Costs and estimated earnings in excess of billings on uncompleted contracts	2,944,000
Inventory	1,218,000
Other current assets	54,000
Property, plant and equipment	565,000
Other assets, net	1,000
Identifiable intangible assets and Goodwill	76,151,000
Accounts payable	(9,449,000)
Billings in excess of costs and estimated earnings on uncompleted contracts	(303,000)
Accrued expenses	(823,000)
State income tax payable	(268,000)
Total Consideration	$ 83,708,000

Note 2 - Tealstone Acquisitio34

Note 2 - Tealstone Acquisition - Acquisition-date Fair Value of Consideration Transferred (Details) (Parentheticals)	Apr. 03, 2017shares
Tealstone Construction [Member]
Common stock, shares (in shares)	1,882,058

Note 2 - Tealstone Acquisitio35

Note 2 - Tealstone Acquisition - Preliminary Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Balance at January 1, 2016 and 2017	$ 54,820
Balance at June 30, 2017	90,971
Tealstone Construction [Member]
Balance at January 1, 2016 and 2017	54,820
Additional goodwill related to acquisition	36,151
Balance at June 30, 2017	$ 90,971

Note 2 - Tealstone Acquisitio36

Note 2 - Tealstone Acquisition - Supplemental Pro Forma Information (Unaudited) (Details) - Tealstone Construction [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Pro forma Revenue	$ 250,032	$ 236,712	$ 444,957	$ 402,771
Pro forma net income attributable to Sterling	$ 3,190	$ 6,536	$ 1,716	$ 3,046

Note 3 - Cash and Cash Equiva37

Note 3 - Cash and Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Other Assets [Member]
Restricted Cash and Cash Equivalents	$ 3
Other Current Assets [Member]
Restricted Cash and Cash Equivalents	2
Majority Owned Joint Ventures [Member]
Restricted Cash and Cash Equivalents	19.6	$ 10.9
Less Than Wholly-Owned Subsidiaries [Member]
Restricted Cash and Cash Equivalents	$ 19.7	$ 24.1

Note 4 - Subsidiaries and Joi38

Note 4 - Subsidiaries and Joint Ventures With Noncontrolling Owners' Interests (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Members Interest Subject to Mandatory Redemption	$ 40,000		$ 40,000		$ 40,000
Myers [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	50.00%		50.00%
Myers [Member] | Upon Death [Member]
Income (Loss) from Subsidiaries, before Tax	$ 2,600	$ 3,900	$ 2,500	$ 3,900

Note 4 - Subsidiaries and Joi39

Note 4 - Subsidiaries and Joint Ventures with Noncontrolling Owners' Interests - Components of Noncontrolling Interest Subject to Mandatory Redemption (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Members’ interest subject to mandatory redemption	$ 40,000	$ 40,000
Net accumulated earnings	6,346	5,230
Total liability	$ 46,346	$ 45,230

Note 4 - Subsidiaries and Joi40

Note 4 - Subsidiaries and Joint Ventures With Noncontrolling Owners' Interests - Changes In Noncontrolling Owners' Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Balance, beginning of period			$ 656	$ (91)
Net income attributable to noncontrolling interest included in equity	$ 901	$ 520	1,272	512
Distributions to noncontrolling interest owners
Balance, end of period	$ 1,928	$ (421)	$ 1,928	$ (421)

Note 5 - Construction Joint V41

Note 5 - Construction Joint Ventures (Details Textual) $ in Millions	Jun. 30, 2017USD ($)
Construction Backlog Attributable to Project Performed by Joint Ventures	$ 39
Granite Construction Corporation [Member]
Equity Method Investment, Ownership Percentage	50.00%

Note 5 - Construction Joint V42

Note 5 - Construction Joint Ventures - Construction Joint Ventures, Partner Share (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets	$ 260,749	$ 175,908
Less current liabilities	(187,323)	(146,592)
Sterling’s receivables from and equity in construction joint ventures	7,463	7,130
Joint Ventures [Member]
Current assets	45,034	32,592
Less current liabilities	(64,672)	(57,598)
Net assets	(19,638)	(25,006)
Backlog	75,670	107,333
Sterling’s noncontrolling interest in backlog	38,751	52,992
Sterling’s receivables from and equity in construction joint ventures	$ 7,463	$ 7,130

Note 5 - Construction Joint V43

Note 5 - Construction Joint Ventures - Construction Joint Ventures, Partner Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues	$ 246,412	$ 189,582	$ 399,828	$ 316,149
Revenues			1,272	512
Joint Ventures [Member]
Revenues	18,897	19,750	33,507	28,554
Income before tax	1,497	1,379	2,670	1,913
Revenues	8,674	7,684	15,163	11,464
Income before tax	$ 718	$ 593	$ 1,271	$ 851

Note 6 - Variable Interest En44

Note 6 - Variable Interest Entities (Details Textual)	6 Months Ended
	Jun. 30, 2017
Myers [Member]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	50.00%

Note 6 - Variable Interest En45

Note 6 - Variable Interest Entities - Consolidated Balance Sheet - Myers (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 60,058	$ 42,785	$ 42,635	$ 4,426
Contracts receivable, including retainage	137,913	84,132
Other current assets	11,206	5,448
Total current assets	260,749	175,908
Property and equipment, net	61,275	68,127
Goodwill	90,971	54,820
Total assets	455,453	301,823
Current liabilities:
Accounts payable	89,468	67,097
Total current liabilities	187,323	146,592
Variable Interest Entity, Primary Beneficiary [Member]
Current assets:
Cash and cash equivalents	2,348	9,655
Contracts receivable, including retainage	25,991	15,046
Other current assets	11,702	10,208
Total current assets	40,041	34,909
Property and equipment, net	9,077	9,824
Goodwill	1,501	1,501
Total assets	50,619	46,234
Current liabilities:
Accounts payable	20,160	21,274
Other current liabilities	17,504	8,782
Total current liabilities	37,664	30,056
Long-term liabilities:
Other long-term liabilities	321	5,373
Total liabilities	$ 37,985	$ 35,429

Note 6 - Variable Interest En46

Note 6 - Variable Interest Entities - Consolidated Statements of Operations - Myers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues	$ 246,412	$ 189,582	$ 399,828	$ 316,149
Operating income	8,356	3,381	6,568	(3,085)
Net income (loss) attributable to Sterling common stockholders	3,662	2,023	1,405	(5,305)
Variable Interest Entity, Primary Beneficiary [Member]
Revenues	38,783	43,967	62,067	70,910
Operating income	2,246	1,982	2,640	2,174
Net income (loss) attributable to Sterling common stockholders	$ 1,121	$ 989	$ 1,316	$ 1,083

Note 7 - Property and Equipme47

Note 7 - Property and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Jun. 30, 2016
Proceeds from Sale of Property, Plant, and Equipment		$ 1,907	$ 1,394
Vacant Office Building in Dallas [Member]
Property, Plant and Equipment, Disposals		4,100
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property		$ 900
Vacant Office Building in Dallas [Member] | Scenario, Forecast [Member]
Proceeds from Sale of Property, Plant, and Equipment	$ 3,200

Note 7 - Property and Equipme48

Note 7 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, plant and equipment, gross	$ 156,812	$ 161,273
Less accumulated depreciation	(95,537)	(93,146)
Total property and equipment, net	61,275	68,127
Construction Equipment [Member]
Property, plant and equipment, gross	120,991	121,441
Transportation Equipment [Member]
Property, plant and equipment, gross	19,060	19,017
Building [Member]
Property, plant and equipment, gross	8,713	12,771
Office Equipment [Member]
Property, plant and equipment, gross	3,108	3,108
Leasehold Improvements [Member]
Property, plant and equipment, gross	914	914
Construction in Progress [Member]
Property, plant and equipment, gross	317	313
Land [Member]
Property, plant and equipment, gross	3,509	3,509
Water Rights [Member]
Property, plant and equipment, gross	$ 200	$ 200

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual)	Apr. 03, 2020USD ($)	Apr. 03, 2019USD ($)	Apr. 03, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Interest Expense, Debt				$ 3,000,000	$ 800,000	$ 3,100,000	$ 1,700,000
Amortization of Debt Issuance Costs				500,000
Payment for Debt Extinguishment or Debt Prepayment Cost				800,000		800,000
Tealstone Construction [Member]
Payments to Acquire Businesses, Gross			$ 55,000,000
Fair Value Inputs, Discount Rate			12.00%
Business Combination, Consideration Transferred, Deferred Payments			$ 7,211,000
Accretion Expense				300,000		300,000
Business Combination, Consideration Transferred, Liabilities Incurred			4,436,000
Tealstone Construction [Member] | Scenario, Forecast [Member]
Payments to Acquire Businesses, Gross	$ 7,500,000	$ 2,500,000
Revolving Credit Facility [Member]
Long-term Line of Credit								$ 0
Warrants to the Lenders Under the Loan Agreement [Member]
Warrants and Rights Outstanding			3,500,000	3,500,000		3,500,000
Senior Secured Term Loans [Member]
Debt Issuance Costs, Net				9,869,000		9,869,000		803,000
Long-term Debt, Fair Value				85,000,000		85,000,000		3,500,000
Notes Payable for Transportation and Construction Equipment [Member]
Notes Payable, Noncurrent				$ 2,100,000		$ 2,100,000		$ 2,700,000
Notes Payable for Transportation and Construction Equipment [Member] | Minimum [Member]
Debt Instrument, Term						3 years
Debt Instrument, Interest Rate, Stated Percentage				3.15%		3.15%
Notes Payable for Transportation and Construction Equipment [Member] | Maximum [Member]
Debt Instrument, Term						5 years
Debt Instrument, Interest Rate, Stated Percentage				6.92%		6.92%
Wilmington Trust, National Association [Member] | Loan and Security Agreement [Member] | Senior Secured Term Loans [Member]
Debt Instrument, Face Amount			$ 85,000,000
Loan Prepayment Offer Required to Make Quarterly, Percentage			75.00%
Debt Instrument, Financial Covenants, Maximum Ratio of Secured Indebtedness to EBITDA, Period One			3.1
Debt Instrument, Financial Covenants, Maximum Ratio of Secured Indebtedness to EBITDA, Period Two			1.8
Debt Instrument, Financial Covenants, Minimum Daily Cash Collateral, Period One			$ 10,000,000
Debt Instrument, Financial Covenants, Minimum Daily Cash Collateral, Period Two			15,000,000
Debt Instrument, Financial Covenants, Minimum Daily Cash Collateral, Potential Additional Period			18,000,000
Debt Instrument, Financial Covenants, Minimum Rolling Four Quarter Gross Margin in Contract Backlog, Period One			60,000,000
Debt Instrument, Financial Covenants, Minimum Rolling Four Quarter Gross Margin in Contract Backlog, Period Two			70,000,000
Debt Instrument, Financial Covenants, Maximum Incurrence of Net Capital Expenditures During Each of Four Consecutive Fiscal Quarters			15,000,000
Debt Instrument, Financial Covenants, Minimum Bonding Capacity			1,000,000,000
Debt Instrument, Financial Covenants, Minimum EBITDA During Each Four Consecutive Fiscal Quarters			$ 12,000,000
Debt Issuance Costs, Net				$ 10,400,000		$ 10,400,000
Debt Instrument, Term						5 years
Amortization of Debt Issuance Costs						$ 500,000
Wilmington Trust, National Association [Member] | Loan and Security Agreement [Member] | Senior Secured Term Loans [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			8.75%

Note 8 - Debt - Long-term Debt

Note 8 - Debt - Long-term Debt (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Total Loan, net	$ 89,164,000	$ 5,394,000
Long-term Debt	89,164,000	5,394,000
Current maturities of long-term debt	1,039,000	4,648,000
Less current deferred loan costs		(803,000)
Less current maturities of long-term debt, net	(1,039,000)	(3,845,000)
Total long-term debt	88,125,000	1,549,000
Tealstone Construction [Member]
Notes and deferred payments to sellers, Tealstone acquisition	11,909,000
Notes Payable for Transportation and Construction Equipment [Member]
Notes and deferred payments to sellers, Tealstone acquisition	2,124,000	2,665,000
Senior Secured Term Loans [Member]
Loan	85,000,000	3,532
Less deferred loan costs and discount	(9,869,000)	(803,000)
Total Loan, net	75,131,000	2,729,000
Long-term Debt	$ 75,131,000	$ 2,729,000

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Increase (Decrease) in Deferred Income Taxes	$ 0	$ 0

Note 11 - Stockholder's Equit52

Note 11 - Stockholder's Equity (Details Textual) - USD ($)	Apr. 03, 2017	May 09, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Proceeds from Issuance of Common Stock						$ 19,144,000
Allocated Share-based Compensation Expense			$ 1,400,000	$ 400,000	2,000,000	800,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			$ 1,500,000	$ 2,700,000	$ 1,500,000	$ 2,700,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					2 years 73 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number			500,000		500,000
Former Chief Executive Officer [Member]
Allocated Share-based Compensation Expense			$ 700,000		$ 700,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			102,571		166,410
Warrants to the Lenders Under the Loan Agreement [Member]
Share Price	$ 8.88
Warrants and Rights Outstanding	$ 3,500,000		$ 3,500,000		$ 3,500,000
Warrants to the Lenders Under the Loan Agreement [Member] | Loan and Security Agreement [Member]
Class of Warrant or Right, Term	5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 10.25
D.A. Davidson and Co. [Member]
Stock Issued During Period, Shares, New Issues		5,175,000
Share Price		$ 4
Share Price, Net		$ 3.77
Proceeds from Issuance of Common Stock		$ 19,100,000
Tealstone Construction [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	1,882,058
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 17,061,000

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity - Fair Valuation Techniques of Warrants (Details) - Warrants to the Lenders Under the Loan Agreement [Member]	Apr. 03, 2017$ / shares
Current stock price (in dollars per share)	$ 8.88
Exercise option price (in dollars per share)	$ 10.25
Expected term of warrants (in years) (Year)	5 years
Expected volatility rate	48.29%
Risk-free rate	1.88%
Expected dividend yield	0.00%

Note 12 - Net Income (Loss) P54

Note 12 - Net Income (Loss) Per Share Attributable to Sterling Common Stockholders (Details Textual) - shares shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1	1	0.2

Note 12 - Net Income (Loss) P55

Note 12 - Net Income (Loss) Per Share Attributable to Sterling Common Stockholders - Basic Net Income (Loss) Per Share Attributable to Sterling Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net income (loss) attributable to Sterling common stockholders	$ 3,662	$ 2,023	$ 1,405	$ (5,305)
Weighted average common shares outstanding — basic (in shares)	26,978	22,762	25,972	21,261
Shares for dilutive unvested stock and warrants (in shares)	358	197	437
Weighted average common shares outstanding and incremental shares assumed repurchased— diluted (in shares)	27,336	22,959	26,409	21,261
Basic (in dollars per share)	$ 0.14	$ 0.09	$ 0.05	$ (0.25)
Diluted (in dollars per share)	$ 0.13	$ 0.09	$ 0.05	$ (0.25)

Note 13 - Segment Information56

Note 13 - Segment Information (Details Textual)	Apr. 03, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Number of Reportable Segments	2		2
Number of Operating Segments			2
Number of Reporting Units			2
Goodwill		$ 90,971,000	$ 90,971,000	$ 54,820,000
Tealstone Construction [Member]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		42,500,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		5,500,000
Goodwill	$ 36,200,000	$ 90,971,000	$ 90,971,000	$ 54,820,000

Note 13 - Segment Information -

Note 13 - Segment Information - Revenue, Operating Income, and Assets, By Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Revenues	$ 246,412	$ 189,582	$ 399,828	$ 316,149
Operating Income	8,356	3,381	6,568	(3,085)
Total assets	455,453		455,453		$ 301,823
Heavy Civil Construction [Member]
Revenues	209,194	189,582	362,610	316,149
Operating Income	3,141	3,381	1,667	(3,085)
Total assets	356,661		356,661		301,823
Residential Construction [Member]
Revenues	37,218		37,218
Operating Income	5,215		4,901
Total assets	$ 98,792		$ 98,792