STRL - Earnings call transcript Q4 2019 | Sterling Infrastructure, Inc.

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Operator

Greetings and welcome to Sterling Construction Company Fourth Quarter 2019 Earnings Conference Call and Webcast. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation.

As a reminder, this conference is being recorded and there are accompanying slides on the Investor Relations section of the Company's website.

Before turning the call over to Joe Cutillo, Sterling Construction's Chief Executive Officer, I will read the Safe Harbor statement.

include made after today. may materially could today statements from discussions forward-looking results statements differ Some risk affect Please and a of XX-Q to filings that refer Sterling's for more most complete assumptions. projections and these recent XX-K factors could description obligations or The events statements as information update a Company to forward-looking of result assumes new no otherwise. future

Cutillo. sir. I'd to the turn proceed like call Please Now, over to Joe

Joe Cutillo

work, by safe good marked morning another and The for everyone. thanking start all and Sterling and to employees company. of year shareholders. Latania, monumental our Thanks, their the to like hard practices dedication our of customers Sterling our I'd for its final in quarter quarter fourth

quarter being In year fiscal quarter three the together of strategy the that our was final XXXX. of our final addition put original fourth to year, in the quarter was

I back important I to has positioned the look Please future a at the go following. minute and growth. what the how think and Company to X as how changes X through those for changed, accomplished, it's through take Company Slides we've refer

XXXX XXXX our our low ended heavy in business into XX% losses. with time, headed and of was fifth consecutive of work. highway bid At that We year approximately

for executed six assets, but low skinny the digits gross were rocks was capital on had that needed the margins heading heavy and faster. March. Our in a on points estimated We We and five we mid single to our consistently to below balance were change sheet cash.

a a accreted $X.XX growth. together set elements, of gain high up people Company to and balance of most could the a line, solidifying from consisted margin showing bottom plan $X a base, this share of the We loss for three into in of risks the time. short thought team while in that we markets. growing future some growing put very building and our ambitious years. per to achieve short reducing adjacent In out Along take strategy such a reducing goals expanding plan a never key share period on with focused XXXX, came over products, The the three sheet risk, platform

and I'm performance the plan. or proud in goals year we we of fourth year, full exceeded quarter to with our met results XXXX have all of the the the the say established three

For the of XXX%, focusing not grew bad revenue on is important XX% but more year three growth. the times what's period, our our for X which not revenue, is rate our revenue grew margins almost

low single Our gross margin XX%. over digits backwards went from to and

almost while reduced a XXX has a points basis of grown notch been has X and percent SG&A sales EBITDA top is times. Our team over building our out

sectors work, Our of we of portfolio which distinctly markets three less no than in heavy a and serving bid, platform but have of consists XX% end low different grow to jobs upon. longer highway now XX%,

All work business more but stronger, us our employees, investors. to this hard is is secure a paid for not returns also made great only our

weighted Our by able par S&P with the NASDAQ there's no been outperformed to technology to and outperformed one XXX% stock this returns XXX heavily XX%, during Versus is we have on well, by XXXX index the period achieve. peers, with the our stocks. the close Russell

even three stages but stopping the not starting before talk billion transformation backlog billion trend are we a let's years record continued in both fourth and three our XXXX, here, next record last highlights of In about margin respectively. in some We than $X.X backlog. over truly quarter of believe and both accomplishments activities. the $X.X the of of a touch in still we the going greater backlog we're the XXXX, are worry, quarter, don't and combined we early upon and growing reached and backwards be the But this we to

to points, basis million. a saw versus XXX improved increased the new In year record. $XX.X EBITDA reduction XX% flaws. due quarter, bridges backlog which major temporarily has claim in XX% related prior Texas due bridge been project, margins and of to margin in design consisting Revenue to in also our we increased resolution that customer XXXX a delayed was to three separate Gross a

The $XX related Sterling a for to-date, to and recover delays. dispute future design to any flaws defined future neutral resolution for cash million agreement rate a enabled of established costs process cost

liquidated us the to of resolution legal future reduce and enabled the addition, In risk damages. significant costs

amount $XX agreed and project at million the As we'll add XXXX. time bridges to part three to by to additional schedule new of versus the simultaneously labor, an is under This Sterling complete to revised all three a work on required the equipment infrastructure cost completion schedule. of the one the terms of early accelerate increased resolution, final complete bridges and

the I'm better Before even planned. perform to quarter quarter of marked first than new acquisition our they and say happy

XXXX. with into For going the and accreted finished record quarter, year excluding $X.XX activity transaction Plateau and record a the costs by backlog share was

As are all we XXXX, to record across sectors strong. margins, activity record moved market backlogs highs at with remain our three

in continues quarter, housing after slight slowdown a seen in the started the beginning in through have late market fourth of first We Dallas that resurgence QX the a XXXX. quarter and

the market saw and to We into than fourth the we our no in more into and slowdown, year-over-year quarter progress rounded continue as XXXX. Houston with great quarter we our make starts the expansion doubled Residential

center new growth acquisition As are excited new in relates some our like and Plateau, with programs upcoming data the and our about with we to companies Public. continue and to see customers activity Home and Depot opportunities e-commerce it great

XXXX. be In will $X,XXX $X,XXX our and billion. We are revenues billion between XX% confident the continue exceed and Plateau team XXXX, over grow throughout will to expectations

income non-cash will and with million tax share. million and grow of XX% between $XX $XX net even approximately a a adjusted be Our $XX.XX provision

EBITDA adjusted our over growing more to million double a and XXX%. It's our Our turn. by a leverage EBITDA debt a sit will $XXX think will really for than to we XXXX and reduce approximately half back amazing after

XXXX. talking the than that years, During three would in we be last doubling about more

over details to you our With Ron it more and that, to turn the give Ron. I'd on the quarter, to year outlook. XXXX like

Ron Ballschmiede

results our a fourth am XXXX Thanks, and good to pleased transformational for Joe, and year. morning. truly discuss I quarter

saw As press included financial the of yesterday's complicated a transactions, variety quarter statements. certainly which in release, fourth the we one-time

guidance. provide earnings revenue, on a release discuss are both in matters some I additional XXXX financial better understanding several the The presentations and help will those Slides will details flow financial to depth XXXX of are prospective summarized XX shortly. These underpinning included our and I also additional and provide details, which XXXX earnings related results cash the non-GAAP XX. our reporting. more of

of our reporting segments services heavy heavy civil into XXXX, three acquisition includes commercial civil, with the legacy, the and our reporting structure residential. The With of specialty X, businesses on business. reorganized heavy Plateau October segment our exception civil we reporting

combined Plateau commercial forms services the specialty business with Our business reporting segment. the

sector Another sector, customer, way the specialty principally, of heavy predominantly to public by look type being and at these reporting developers. as DOTs segments civil the and and serving two general Municipality, the contractors such is private serving services

segment residential reporting. reporting is prior from essentially its unchanged The

reporting purposes, consistency to segment conformed For structure. three past our reporting segments been our has new

quarterly in XX-K. segments our You'll find XXXX information a of footnote three Form the reporting conformed

XXXX let's on Now, our X. beginning our in expectations XXXX about results Slide

was The million XXXX. XXXX of X.X% XX, December $XXX in $XXX XXXX, XX.X% margin I'm sorry contained backlog million compared increase beginning to at $XXX XXXX, to gross This billion -- our in million backlog the was in year. the our Our to Plateau. compared $X.XX backlog related

total businesses civil heavy XXXX. with bid decrease was What backlog awards improvement makes legacy special so both acquisition our from the gross of of and acquisition. Approximately this increase to two-thirds Plateau attributable legacy is Plateau Sterling's slight increase to million improvement. XXX basis margin this from $XX end the the million $XXX the that a Unsigned the low contributed point of third business of a

over Plateau no hard do the a billion, finished a not a backlog $X.XXX as We XX% unsigned awards has end combined XXXX. of work. of bid XXXX does with generally increase

combined XX% from in December at at increased profits 'XX. gross Our of XX, the backlog end the XXXX X.X%

performance and factor XXXX XX% cycle for consolidated XXX% term backlog which for slabs. XXX% does the respectively. short residential accounted of backlog Our not Residential, our record of was revenues backlog reflecting concrete book-to-bill combined and

X Slide $XXX $XX.X fourth quarter an or fourth million, an the were Revenues million XXXX where for focus purposes. overview over Slide I informational comments. quarter X additional of for X XX% will XXXX quarter. of the comparable provide provides of increase and our my details

$XX Our full year or X% $X,XXX of XXXX. billion, million over XXXX revenues increase an totaled of

For had which substantially was revenue all increase revenues in the of $XX.X acquisition, both quarter periods, the of attributable Plateau fourth million. the to

commercial from and market our the and ownership. included by revenues Plateau quarter got sizable Plateau's first quarter ratio at fast was retail accretive share its burn was and in of new large $X.XX strong start earnings quarter a award awards with a book and in It development e-commerce up multifamily the land fourth XXX%. to project. per

EBITDA charge related be quarter additional continues the million adjusted XXXX, activity proposal earlier. and the into was in $XX.X to Going Consolidated Joe $XX.X included million which the strong. spoke settlement, to claim to

Finally, recognize a or million, and a or $X $XX.X the the benefit share full per $X.XX share income of per $XX.X non-cash we year. million, tax fourth quarter, in for

non-cash. benefit of tax results that will taxes approximately in income loss rate on requirements. operating of roughly of several before reversal the a effective be the reserve will at accordance tax XX% our Prospectively, into tax accounting reflects years expense income XXXX, now with taxable going past the This net over driven an our tax provision sustained by include income XX%

our were primarily heavy projects, our year-over-year, fourth for joint civil Let's Slide the million, decreased substantially large from million. design periods. flip over expectations, residential results heavy Within both the and variations which segment on revenue, $XX.X were the our essentially down quarter flat to from two and heavy XXXX, with construction Consistent in comparable completed projects by the these revenues XX. revenue $XX.X civil our revenue were highway build venture year

the in Also -- were temporary change from to from of delivery declines $XX.X incremental income work. alternative hard-bid offset heavy billion revenue and affecting operating increases fully mixed aviation negatively These highway by projects. aforementioned was work consolidated impacting

alternative backlog generating We XXXX. are today. unsigned These revenues rewards projects projects in our expect new of alternative in half delivery the first reverse with Two in this three XXXX. all our projects large delivery in large of at begin will together to trend

increased was increase the X% revenue $XX.X XXXX. slabs the The the revenues from of number slightly homes, residential which XXXX This primarily of of completed to year in X% revenue into was generate $XX.X expansion to per slab. in the fourth smaller the during market. over quarter the fourth market were the XXXX. for Residential quarter of less attributable million million, continued from completed growth excess XXXX slabs revenue shift in by residential derived of Approximately up Houston

build operations XXXX. in As improve and ramp to continue to Houston, scale up margins continue to expect in we we

for the in services operating quarter group Finally, the the our of of and results XXXX. increase fourth specialty revenues company in Plateau's reflects addition in

move let's XXXX talk XX our Now to expectations. about Slide and

of the our this approximately and We comes $X.XXX up growth XXXX or $XXX midpoint XX% revenue between variation a of wind design large year revenues growth reverence. to Plateau The from of including of expect build up full effective be billion guidance venture $X.X up within XX%, range three billion, million we the our is joint projects. ramp the these pace largest where

was profit increase $XX guidance mix, midpoint market XXXX The derived net healthy Our Houston. heavy design income a and comes a margin a growth $XX project for billion build Dallas, between higher plus in Fort favorable civil guidance and of the a Worth gross Plateau residential income of full adjusted income year XX%. from from billion or

of Plateau acquisition million $X are excludes income integrated million and Our costs after million to tax. $X.X guidance pretax $X.X $X related adjusted to million net

Without includes of this in XX% or XX change income accounting of tax income adjusted would more for have this pretax NOLs, which income income of our an XX% $XX approximately XXXX Importantly, net the income. is growth of than taxes. doubled charge non-cash million adjusted net growth estimated our pretax

also to million EBITDA Finally, XXXX the comparable than doubled more expect adjusted midpoint EBITDA. we our be $XXX.X

corporate of Slide XXXX, XXXX deleveraging our and cash $XX.X December presents of of flow. expected ended XX use. XXXX with summary balance million million $XX.X was driven for cash are balance available a We sheet which generally by in XX, strong our

XXXX which flow activities exceeded of income our cash as from million. expected, we from Additionally, billion, $XX.X was operations $XX our operating

significant we seasonal year-over-year typical While capital working a on a XXXX in calendar quarters, change expect will working our variations capital basis. throughout we see not do

XXXX. at As a times XXXX be EBITDA at the can adjusted half of ratio from we times full expect to X.X coverage to you our debt turn other X reduced the see, end

determination adjusted XXXX have XX a find Slide the one-time the to unusual we our Turning helpful and all which we you to in and results, with thought assumptions helpful. net more Hopefully, revenue summary XXXX in key XX, modeling it'd will of our be granular income embedded of assumptions, these provide items guidance.

call the to that, like I'd With back Joe. to over turn

Joe Cutillo

journey Sterling. step was in Thanks, to our significant another forward Ron. XXXX transform

last compounded the revenue XX.X%. three seen of have Over growth years, annual we rates

compounded over of over profit gross EBITDA grown growth we've annual XXX%. Our rate XX% and our

into sectors As markets remain in all go strong. our we XXXX, three

backlog combined Our is in margin our XXX is backlog up up combined basis XX% points. and

projections XXXX are over Our for revenue XX%. up

average gross between will and margin XX% Our range XX%.

income will incredible doubled which the is XXX% but three our three EBITDA, up the its over to more a of market. years general have for XX% top years peers company you debt over in in stack continues and than the approximately $XXX last Our that last any be a million. to would This years, that be over will on and the performance outperform grown

over it questions. turn With for any that, like I'd to

session. Our proceed your comes a this question. Thank you. with conduct Sean question-and-answer from will KeyBanc. Eastman Instructions] [Operator Please question time, At first we with

Sean Eastman

is, million million First $XXX me $XXX have $XXX Presentation a range. adjusted to we million. in one to release has EBITDA the million for $XXX

curious between cash Just difference helpful? operating for are? the around comp, cash just working those share-based then very would the EBITDA interest, what maybe any also, just out that capital you considerations flow round if from to And bridge could ranges XXXX be two

Ron Ballschmiede

Sure.

So, $XX million to first million, apologies, EBITDA is. interest $XXX the it that on range where million is $XXX

you with help me couple let So of a bridges.

guess million mid-point way, but million what I it is. EBITDA, So, to guidance our was that's either $XXX $XXX

to is as $XX of see CapEx $XX some you the Our million. in million details

So, mid-point X.X. is

interest covered. be expense about us that to for gives $XXX million a So,

have. flow we and debt expense, that service expense call would after the interest payments, what includes about cash mid-point needs sorry, interest $XX -- of but guidance our other million for -- that, million might the about number year, available believe Interest scheduled and a not we $XX a for we free

and we large working expect the tend fund As do I an with to a Certainly, mentioned to our remarks, capital. in working in prepared don't their in themselves change thing. my they capital does significant excellent with job business, projects our legacy same Plateau

change in our year. year half half big the in a grow first expect and capital normal. working of the wouldn't other we tend back the So, than of to We the harvested

projects seasonality ramp our way ramp the the and Just up with primarily. down

Sean Eastman

So at be just flow midpoint CapEx? flow, minus cash to operating free million the cash $XX

Ron Ballschmiede

That's correct.

Sean Eastman

And then I think you guys...

Ron Ballschmiede

interest Minus expense CapEx XX. and is

Sean Eastman

CapEx minus equals. flow cash operating Like

Ron Ballschmiede

you've it. got Yes,

Sean Eastman

okay. Got,

more ramp just then think JV I Okay, big upper large around curious in called the at in what point of civil great. the I'm on of That's up these guys factor year phasing will sight a up and out line just lower helpful. end background? for jobs? heavy three some those the ramp have And you swing clarity is kind curious and you the that kind of just

Joe Cutillo

in late of strong depending first pieces it, rest already two be quarter up. sort second third the wrapping very of have that anticipate we in running then, We've be activities starting one thing would second some seen half. two we the them in ramp rate the the quarter, for of should the quarter in first so Yes, year. they the the a of whether, up And that if the first the of They quarter. on

third handle So, those on pretty point I good we'll get second And should quarter, as for second up of think a of by the end on sure. good have into one time, that of have well. the three, visibility ramp two we we rate by in quarter the the as

Ron Ballschmiede

the the to quarters it year X to get same add, come call down quarters I'd with flat pace three It ramp And about lined years. up anywhere and from it, these left. could about to X.X on generally, takes X.X way all three projects,

months is steady there XX about year So in the to flow. X middle,

Sean Eastman

Would from sort you us reporting assumptions outlook and then segments one last by you XXXX through the And the into revenue mind growth walking of me. guys margin now? built are new the

Joe Cutillo

Yes, Do it. to color through we want slide. add I that to you front? have some can one details go the

what quarter we've with pretty year sides coming year, the in and the growth it's third and margin. think the the I consistent on last said fourth

Ron Ballschmiede

that's right. I think

run give obviously, has Plateau we right about quarters million the So, historically ramp full comes for is got added growth. year. of a Obviously, revenue have -- around $XXX Their the been going impact in side. that The we've probably rate the from largest that incremental brings off projects three million up. so coming to to or incremental the large guidance, balance our are of take $XXX

view. then, And that we expectations the the growth of three are year sort in have slides

have three ventures, when more big we the we'll than obviously, So, that. joint ramp up something

and However, not incremental, so it's and capabilities all people. you have because right, only many service

support to big going smaller some we've So the of the and jobs job. finish

pretty have all to not good say from But overall. incremental, on we'll trying certainly the growth I'm beginning. So revenues all

Joe Cutillo

Sean, variable We these think I rate. we've questions. to back If slower, if going they is And room should large a big factor your a a the ramp-up And got in us. ramp-up for closer. earlier pretty faster, think, of a The some it, range up decent projects. we be ramp that's I of the in we've that got a good relatively think, darn they thing ramp-up normal little

Ron Ballschmiede

we on the digits the to or hard-bid plus side, then continue And call see activity it minus. margin in X% high-single

any an margins then bring and Our low-double alternative the to Plateau up the in gross XX%. work operating in XX% the to returns margins high And our XX% net doing of delivery, depending XX%, say residential, the particular close we'll And to digit quarter. then tend with they're same in we'll on and is to mix you XX% combined. see

Joe Cutillo

We've with line improvements rate we've the some Houston, continues the grow on what we And, front, where to market, day I'll if into it the as that nice thing of ramp-up the in I the comes kind of Yes, other just can seen the margins that. is slowdown, Dallas expansion think bit a so or the talked call in about think, residential anticipated. proof-of-concept. we a on nice, little was offset it, I Houston

third bit fourth in it pretty And and going the of with a really at ramp-up the to rate into starting slab back, to a the quarter in it that valid. pretty, little revenue changing count that offset from Houston saw try firsthand keep quarter slowdown then that standpoint

that that's continue play in I very, improve going future. well us margins, for we the to as very think to So, grow out and

will I in is now, Dallas again. any slowdown we right don't So see crazy going say,

up rating sell So, weather that's we can Dallas, a We thing. good for what the keep in it.

Sean Eastman

really Excellent, it the all lot was work. like closed this seemed on congrats a helpful of responses, stuff then numbers and getting

So thanks again.

Joe Cutillo

There more all and good forward this is pretty pretty, a quarter lot normal, but for gymnastics we're in about than going feeling XXXX. us things positive

Sean Eastman

Excellent, thanks for the time.

Operator

next [Operator Our proceed Brent question comes Please Davidson. with D.A. from your question. Thielman with Instruction]

Brent Thielman

Ron, Good. forward basically million 'XX. something of Joe around, back that I EBITDA they and just from if guidance very of the guys $XX so and it million growth EBITDA, 'XX. around implies something XX Plateau, when little which acquired And you that did call I core assume the it business, think going mid-point out that your in is

my assume with million EBITDA $XX changed I in you something business can Or Plateau guess we do to are question the 'XX. where some is bake in So, shouldn't just conservatism? trying

Ron Ballschmeide

up company to when systems. Now, if the from the and public transaction going did world, will, spend some Company into controls the money we if were beginning, knew, and bring we you to reporting you recall, of the we very

result as incremental the G&A of we a get spend acquisition. from $X an had go, So the million

increase just top will where because we in kind putting our long-term normal of plans a their and what are on plan. of And have incentive that, on further we're you'll leadership get

use those side down but don't standpoint, that of stock to it million. things an them, the definitional comp, knock EBITDA back between probably So two straight we EBITDA as add $X two million $XX we which from based

Brent Thielman

quarter, that is the million free XX in be Or flow within out? clean? called in the then, And pretty that cash Okay. to anything outstanding fourth

Ron Ballschmiede

there talked I was million. in of think for the collection the cash project $XX big that Joe number the the about,

three cash just was that then of but of some XXXX pace, quarter. cleared deferred Now quarters for was most in fourth that the normal

agreed in year the fourth influenced that it -- in the full the but quarter do you an of where ultimate settlement pace, for of to was the So, to look sort addition at addition by normal acceleration. if was element heavily

Brent Thielman

anything you XXXX? Okay. And on those? bleeds on the over guys Texas Now did is jobs, all satisfy your into that there obligations

Ron Ballschmiede

They're We've we basis Well, me all decking bridges got working of we've -- still the little let -- bridges on and the you a perspective. give those of have foundations other simultaneously. got the complete.

early two part almost continue in XXX% first those the the next be of year. finishes late end third then the bridge a we'll of We've So, year. -- complete should this an next of of bridges by year quarter got

as but These the working resolution. on So, fourth be the finish flawed a and and built is. are to of designed still it, we working got resolution pay We've where thing. were these cleaner for that today it's forward us We've go and realized thing related [indiscernible] we're on how line. where to point to in turn any much issues, claims, actively with the we grossly got design could same

Brent Thielman

actually larger to now on it's then the Do And these you. move weather plans have better? Or wasn't that? on the jobs it getting of a just function you you and on region, waiting the civil are forward in mountain to clear

Joe Cutillo

we're going full Two them, board. of

The thing that you designs year yes, together. design-build of we We're and to in win third put a construction just the it. But could phase. so or because it. the to take parts it's stuff after other we're understand design the that's just -- on It and process for people not all one working get of the hard

that a So one million third end of dollars. here. dollars. hopefully is that it's it's the few coming to burn, page big quickly slow a not It's That the

are two active and The moving. other up

Ron Ballschmiede

And the it you it They said well. in mountains where snows. are

because second the in weather. the it's an naturally, is, the to hard quarter start start in snow tends uncertain to reality So, be

Brent Thielman

you you of on could can a level? today, continue prospects guess look You've but got again, know, kind obviously business my then I talk civil, your to question, last term what sustain about book And like? is you big that bookings just, maybe of

Joe Cutillo

states bid year prior in final fed Act. The activity. the We're were budgets got larger The slowdown in. there than in of our the any say. all have money year the to up amount seen I of the that up they're larger, that putting equal FAST haven't should we Yes, is

got FAST the paths the to three Act. You've different of upcoming parallel renewal

You have bill. Senate the

to a Congress and then have you You the bill have going budget. Presidential

that election out good the it's in through of Senate news is call looking the the is, I'll at, do funding approval and plays years. all it We'll and that. process. the The how looking majority bill furthest source to They're probably been along at how see the just tried to determine

But a when spending, get put bill Trump for through a a of year $XXX administration through year. $XX billion $XXX you in one-time, the billion just $XX the a Trump's a look and and calls billion proposed, -- in with spending, a bills that's we year in the boost $XX one budget sorry, today $XX spend one feds would at would perspective, about the other one, the budget congressional average billion the billion Congress going year put about in in billion

there the a funding sources. take election through them in and to just or does X XX market all take a either of permanent or you year. of years So It's get matter positive years, it from it range an outlook what look extremely

Ron Ballschmeide

on revenues. that We've made alternative continue the are heavy year right and the going a compared being highway to And I we're XX%, up work. we add, we a selective progress total But down highway the margins. delivery done, right hard-bid talked not to from manage the earlier, projects with in to to as great would with about shifting heavy

keep growth So, going intent, business rate. that by at we're to a X% X% to

Joe Cutillo

I heavy business margin. disciplined adding to can to margin our to of through low-bid go very the profile That's we XX%, an the -- in we to risk creep fantastic. get versus And to stay how highway highway percent a up the plus that's accretive lower pace think on the is to And margins the to side, objective the margin. the to continue Ron. value risk grow of delivery. grow to grow. accretive we'll and where to If were going up it's more in a not continues that's But point, our guys the good space, we're grow will versus market if if market. gross It's at at us margins pace not total add XX at alternative

Operator

this Thank like you. turn to Cutillo I time, closing over the to Mr. will comments. for back At call

Joe Cutillo

again Thanks joining Great, everyone today. thank for our call you.

questions any or or you have Investor please associated Sterling, Relations If information our the press equity schedule a contact with with provided in group to call, refer at the wish group. partners the follow-up our release, for

everybody taking we'll XXXX pretty We're to this call. on jump morning the the soon. appreciate about I time and excited you. talk Thank

Operator

This does conclude today's teleconference.

You may participation. you your time for at disconnect your this and lines thank

Joe Cutillo	CEO, President & Director
Ron Ballschmiede	EVP, CFO, CAO & Treasurer
Sean Eastman	KeyBanc
Brent Thielman	D.A. Davidson

Sterling Infrastructure (STRL) 3 Mar 202019 Q4 Earnings call transcript