STRL - Earnings call transcript Q4 2021 | Sterling Infrastructure, Inc.

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Operator

Greetings, and welcome to the Sterling Construction Company's Fourth Quarter and Year-End 2021 Earnings Conference Call and Webcast.

As a reminder, this conference call is being recorded [Operator Instructions]. There are company slides on the Investor Relations section of the company's website.

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

Some discussions made today may include forward-looking statements. materially statements differ today. could results from made the Actual these and most for risk Please affect Sterling's XX-K factors and XX-Q could of refer to description recent filings assumptions. complete a that projections more assumes of information, result company as or new no forward-looking future update The statements to a otherwise. events obligations financial may EBITDA, per call, this share EBITDA, note measures recognized net U.S. adjusted all under not also Please reference income that on which management adjusted or earnings are adjusted GAAP.

financial yesterday SEC measures comparable call by and now Cutillo. rules sir. go Joe their in these non-GAAP Thank turn Mr. reconciled required most Please are As ahead. GAAP our regulations, to earnings afternoon. the measures financial to you, release over issued I'll

Joseph Cutillo

and fourth XXXX another Thanks, Sterling reported and Full quarter Call. Kyle. exceeding morning, Fourth Year and Good Earnings our record everyone, record welcome another year, to expectations. Quarter Sterling's

deliver the our again, will challenges. for and cover continue to even strategy then full Ron our turn the a his year, people This year during time call Our performance significant over highlights quarter fourth with to commentary. time and financial and I for morning, exceptional

continued elements: elements I outperforming up has and This a heavy and transformed make improving highlights, discuss e-infrastructure, same higher-growth to vision remain speak strategic and growing expanding we significant beyond. and our and will for reducing about This building Sterling journey culture. specialty Before markets. our and the into to of the In Solidifying strategy future on is vision high-margin from customer-centric base; consistently towards I that and progress vision. in risk, our Since XXXX, not a XXXX, adjacent products; entrepreneurial a company highway transformational reflect a our provider construction for briefly leading changed of strategy peers in blueprint XXXX our will in Sterling made higher-margin, transportation our platform X fundamental margins, our expertise growth that building our with infrastructure solutions. a levers and borne has been journey, on spirit our

of and in as XXXX e-infrastructure segment our it XX% margin, generated Our growing Solutions highest our segment grew XX%. fastest profits remains

of acquisition now & all for the portfolio bring our acquisition cover closing and East now broader on an capabilities of XXXX. large customers we e-infrastructure our in have e-infrastructure coverage even footprint December, and geographic The the markets portfolio. With both the Kimes Petillo Petillo, Coast several new expands to major to

grew in of Phoenix. fastest-growing over into and Our second Building profits the is XXXX, additional the we Houston our continued expansion our segment segment as Solutions XX%. generated it XXXX effort and and XX% expansion In second-highest margin our began market in

continued top With the U.S. now addition projects. highway shift hard we housing of markets bid of Transportation the our X Solutions X our segment, are currently delivery, from in away to projects Phoenix, aviation alternative we and the In in transportation

basis year XX% Now operating improvements percentage of XXX points. to heavy would even than in is This of shift, execution Sterling's us more in from but income less and enabled year improve total of a revenue with impressive continued highway. hard-bid our a is be impressive productivity along as improvement hyperinflation. in This any by revenue

and quarter full results. year fourth the to Turning

of accolades we finished our our the incident Associated awards. second an approximately named industry once continue for had General safety year, X the XXXX We Safety to AGC's safety leader America industry Safety for in Award the received We and Year. average. numerous again employees Champion be the of with Last X/X Construction Contractors rates we and of National at recognition

ongoing fourth our supply prior despite inflation revenue XX%. the the closed with record quarter the year year, increased challenges. to Turning We and financial chain front. a Versus

increased Our XX.X%. margin to gross

share. per earnings our And to $X.XX Our operating XX%. increased income share per XX% increased

to backlog $XXX acquisition. billion attributed Our with the million to increased Petillo $X.XX

strong pay us flow acquisitions, funded cash cash EBITDA. debt from generation We operations. leverage our a million and used continued to to reduce X.Xx this of Kimes $XXX Petillo down enabling & Our to cash portion in resulting of the

look segment This enters East throughout e-commerce recent advantages. and and XXXX, Solutions XXXX demand we projects and has with of increased size the our well our data to with forward e-Infrastructure competitive markets the scope As and accelerated pandemic The robust strategy distribution Coast. centers. for aligns

solution e-infrastructure million. we $XXX quarter, the Plateau bringing and our new booked business, Petillo, During backlog including total to

XXXX. to recovering of addition believe we margin markets, inflation strong the the some in we begin In will to back lost related

customers in the our For demand top Solutions at we Building double-digit XXXX. our markets grow from segment, to our expect in rates

we In in XXXX. the to our versus double have we Phoenix opportunity XXXX addition, in believe growth

remain will growth towards and and projects. segment shift portfolio of the highway margin and on continued Solutions Transportation aviation Our disciplined delivery, alternative focused our

in Our diverse our for position solutions the right customers time. portfolio with continues the right to Sterling the markets right at

be our actions the Solutions strong for record positioned revenues yet to us in to net e-Infrastructure strategic be and XXXX, to and with segments, XXXX, give you Ron Building our $X,XXX,XXX,XXX year XXXX. in it between In million. million With details more Our in turn Ron? have end markets year. another income and our along will will and the full that, over between $XX And the on $XX $X,XXX,XXX,XXX. I'd quarter like

Ronald Ballschmiede

full am quarter year and Joe, record pleased and morning. to I discuss fourth Thanks, good performance. our

help updated earnings website December our XXXX The Investor underpin ended has results. additional guidance. our also presentation to XX, XXXX provides details to financial includes considerations XXXX, and and release been posted further modeling Relations which revenue presentation understand financial additional our Our earnings

& December we recall, Additionally, respectively. December on as acquisitions Kimes you Petillo and XX XX, may on closed

our income year-end, on acquisitions the impact the to statement. had proximity XXXX minimal these Given

and groups Building our X reportable operating With e-Infrastructure Solutions. we these Transportation, segments: into acquisitions, realigned

Our new segment out presentation also corporate-related costs. breaks

quarterly on updated and reporting, presentation our have of the both segment available are For in a understanding in historical earnings better Relations information our XXXX realigned both for release, of website. segment which XXXX our included XXXX Investor the and we

XXXX of XX, totaled relating a you backlog starting year financial take The me year-end backlog to operating residential as At our highlights, the XXX%. December of Each revenues gross reporting slab XXXX XX% of basis high our year XXXX quarter. or XXXX million is increased that backlog over the at XXXX this our million, increase XXXX. record up $XXX X -- of book-to-burn XX from reported revenue of business. income the quarter $XXX metrics. comparable segments billion, our factor $XXX were up segment a point operating were million backlog-driven includes increased excluded for million end it low-bid $XX through from and full the highest by the full backlog Let return Note in and our $X.XXX the XXXX XXXX, both year was not December growth the December reflecting third over Revenues our end XX% beginning $XX year. our for sorry, is the segments. of The and awards our income full computation over were margin the a quarter, current higher XX.X%, was Unsigned current the acquisitions. -- the our million, by for with backlog revenue rates Consolidated year segment mix continued driven year. and improvements quarter

price commercial the year. high the during of while demand The current Transportation heavy revenues operating increased e-Infrastructure Solutions margin a X%. Worth current quarter increase $X.XXX The XXXX $XX residential completed concrete due in concessions XXXX. basis in an for XXXX. opportunities These of basis to issues XXXX cost shift and billion, full XXX consistent with for The year. the in revenue were mix increase $XX Solutions first for within and XX large-scale to headwinds costs strength driver were and over decrease Dallas-Fort year increased the and million operating of well the for or revenues quarter contracts COVID development the into offset full lower of in site administrative million highway by operating the margins driven increases driven from by by and operating million margins. progress Solutions and quarter The by current slabs to our recouping quarter the and The impact in the and was steel product improved reduction our strategic increased and were area temporary a continued design-build XXXX. number operating XX.X%. Houston in $XX of year of revenues, increased in in and over This current insurance-related principal Full the e-Infrastructure million reductions Solutions large the revenues year in million low-bid to General for by Arizona region. earlier XX%, X Southeast increased attributable was $XX basis points margins prior by related X% million up year. productivity $XX $XXX or and chain continued year declined quarters ramp-up XX% points. full XX% costs. the or XX% the Residential XXXX over in X.X% and periods. year continued totaled quarter declined Building due million revenues the continued Mid-Atlantic experienced attributable higher expectations. dollar lumber, as revenues and and current was margins XXXX Our slabs the driven an market efficiencies the the primarily the XXXX. the year million points, Both XX.X% by primarily year. Solution 'XX reflecting revenues declined $XX increases expansion on markets. in The Building increase by employee revenues in as increased to $XX or expenses increases fourth was and XXX were supply

costs Petillo $X.XX acquisition-related or incurred transactions. & $X.X share also to We Kimes relating of million the per

have down quarter expense we of operating current $XX.X the was our in income Our $XX.X XXXX from million. "as-adjusted purposes, comparative million, For back income results." slightly operating added

compared year. income adjusted, million to in operating million the was As $XX.X $XX.X prior

of $XX million operating compared For Interest $XX.X was expense during was $XX by June income average XX, $XXX XXXX, debt reflects XXXX, to the or million million the ended debt balances $XX.X increase year year. compared million was year million $XXX the lower compared million December in in in prior December expense operating interest interest Adjusted and million XXXX XXXX, XX% the for to XXXX. XX, provided The an the income ended to XXXX for XXXX. in reduced $XX amendment. decline XXXX

to million in $XX XXXX $XX We be full million interest to expect expense year range. the our

noncash tax Our tax state $XX.X The payments. differences. XXXX million quarter, and million, Cash for was principally current tax tax XXXX rate in by tax income for was respectively. expense the Of by more million XXXX net XXXX were $XX.X and year our XX.X% as driven decline of carryforwards. full loss effective our was expense income permanent income income absorbed favorable net operating income totaled taxable $X.X XX.X%,

The XXXX. income $X.XX. earnings in a quarter $X.XX per $XX.X million to We these million of and million in effect income approximately current net and noncash-cash income have tax EPS relationship or year net expect same per with of Adjusted $X.XX the in current of adjusted EPS income net resulted of the year net were fourth $XX.X and of all expense items an share. $XX.X share

to our Moving liquidity. and sheet balance

year-end totaled year. at $XX to million of compared Our million beginning the $XX cash the

the totaled Our debt end or the at XXXX of of increase end million of million $XXX million. an $XXX at XXXX $XX compared to

accordingly, 'XX, During ratio end repaid of EBITDA X.Xx fund full through XXXX, X.X coverage plus forward-looking sorry, revolver EBITDA. million borrowings At availability of million loan -- remain the the our the I'm or on million at X.Xx ratio $XX acquisitions. our a a our minus new December borrowed coverage line. credit of was the of of beginning XXXX XXXX, of debt target our term had At part XXXX, and compared $XXX we ratio range with of X.Xx We we was we the $XX end forward-looking no and comfortable of end XXXX. have facility, to at to

was EBITDA over adjusted increase $XXX of XX% $XXX of adjusted an EBITDA year million. million, current Our XXXX

operating debt XX% In a investing I'll the strong cash million addition, for of $XX from grow the capital $XX With back million $XX opportunity million, or that, $XXX $XX for to cash This enabled totaled current us acquisitions; by cash investing Joe. make provided cash grow repayments balance our finally, XXXX million, year. of of over with $XX flow record flow -- million to our activities in us it turn operating while expenditures; net improvement and to an million.

Joseph Cutillo

backlog, growth better nice is always record quarter But to better to a It's have year finish record XXXX ahead. will even what year. ever, highest-margin Ron. with highest I'm say businesses. record a coming lowest-risk, positioned our and proud Thanks, we stronger even in is and the to position from with margins being strongest enter an our

to to XXXX we markets, also and strong people workforce off. We than proven safety our business completely the Our and increasing remain shareholder a to well-being continue and environment. We few of protecting communities a value, our and customer while the committed were pay years just our strategy different diverse ago. enter

us we and what and will we forward, are revenue and net it just our guidance, for $X,XXX,XXX,XXX like XXXX I'd that, reiterate become. $X,XXX,XXX,XXX our With will beginning As To our turn vision income and drive million. be $XX between million strategy over of be questions. between the will $XX to our

Operator

[Operator Instructions].

from with Thielman Our Davidson. Brent first D.A. is question

Brent Thielman

they just Ron, the into margins now what for wondering three segments realigned guidance embedded Maybe business the that you've for are here?

Ronald Ballschmiede

Sure.

And to forward. match income things I out did by it the the with the units is think you, understanding -- the helps X we're history lot quarters a did think how help breaking expense. to X I going of on up corporate of operating characteristics so we they're of

look a at take So those.

certainly, few heavy I'm I'll So with sorry, things -- segment by I Solutions start think here. group. the a Transportation the with

on projects et and will the X cetera. We got We to continued leverage more... that see continue from to shift moving coming of higher-margin probably margin

Joseph Cutillo

of We're world. the that low-bid continuing to side reduce

Ronald Ballschmiede

that points more expect to than XX up year. full eke basis We of little we basis out XX continues a the that but margin backlog, bit. in increase So for got points look, in

quarter from on fourth a for On faster to a note growing a for had Building per the we fourth done. we inflation Solutions margins. what great probably, year, special supply that. would the certainly slabs we the make of had, recovery the And the chains revenues number year row, second a quarter recouped doesn't essentially -- but but We in on had for and side, slab pressures have the quarter than

slab, means So what obviously. price per more that

in XXXX, a that quarter Petillo our The Plateau. bit Margin into in So little e-Solutions, of looking maybe we year-over-year to to expect fourth similar lumpy. -- have last, up those segment. obviously, characteristics very are pick results continue we'll that

can recover the think and how fast I from we of So continue challenge side it. inflation chain be will the supply to

better and to by, time to So tends as through run expect get in but that goes improve, we that XXXX. backlog

Joseph Cutillo

and segments is The to segment, comes is that to biggest into now the prior shift in going one the goes business our used be new of Building out which from what Commercial Specialty the e-Infrastructure Solutions.

little you'll a small residential is so to see margin that So a historical that impact lower than degree. our business,

Ronald Ballschmiede

And for takes least. operating Yes. of -- that, for reduces lowers and old, the that in course, margins stand-alone helps it margins the e-Infrastructure at residential group just

Brent Thielman

that. Okay. Appreciate the the expectation. a outlook, just from cash operations Maybe on around question

it why, Petillo. just be year of wondering significantly the higher given couldn't Just this addition

Ronald Ballschmiede

That consistent strengthen year year don't But bit relationship from So our not think cash all year. we where seasonality after reasonable the flow continue operating with we the a that every beat year. and number our start that that's to And after to will income. little if I because just just It's operating work. goal start that around year belief together approximate activities a due that it's quarters bounces to of see -- our beat can is we think year-after-year. I our

kind So we out started where of level. past few over average year. that's the And years, see the that we about of that kind

of cash around that in flow expectation income our is So get around ops. the the really model operating bandwidth is we from

Brent Thielman

me. Ron. That's last And Okay. maybe one helpful, just for

seems people are a sound a Maybe year? to an area out feedback slowing some to worry your getting residential but that doesn't for there this just the customers might offer seem plans you. You be for fairly homebuilder like -- to things outlook regarding be from on other you're any side. optimistic That

help be great. there any would So

Joseph Cutillo

Yes.

slowing. haven't around faster feedback availability have they at more -- We and any land around risks, concerns anything haven't is the we seen potential rates. If it's land developing

a plan As lot already you anticipates XXXX which have can eats X-year land than in quicker exceeded on cases. up a their they pace builds, at of imagine, expectations their

of on But pull. they're that we margins high working and wave increase just land. they have slow time rates a increase next down as the But builders selling very that the of of today. properties we think a we're know back are develop objectively, to to of cognizant potential I lot that So certainly inflation. step They're making it diligently rate can they don't soon. And any still the levers want on we

So we in we're markets year going number into three. think they're everything see, U.S. back we're through call, double-digit but which number are number and low X what the two going right and in in, we're XXXX, catastrophic, X us barring now, I'll forth, growth something telling markets the the is Phoenix top this one, bounces really to

Ronald Ballschmiede

we both course, improvement and our of expansions . for would in expect market And Phoenix. Houston share in

Operator

question comes final Sean Our from with KeyBanc. Eastman

Sean Eastman

of of in to kind outlook bit flavor is like here. the I more It of out would And be solutions sort the is in the just the of e-commerce conditions then a time other guess XXXX operating results woods lead fourth sort of get here. quarter a the the based business. equipment business sense helpful residential on of contemplated in a element you've the It seems initial that

exiting of sort the just guys did guidance? And potential contemplated kind in dynamics those see quarter? those you through how risk So factors the of you have fourth around what

Joseph Cutillo

of we up rate if through, saw I'll all we we're fourth increases slowdown that increases, of we through. in price And to get, we in catching that. a passing quarter, the that in start could the had call some Ron it the Yes. news how -- saw recoup inflation XXXX, talked What good about, can factored But you said we we and the coming if some in back. remember, is

concrete much They've job. we've cetera. continue we're increases some to done But throughout better going increases, already et to some XXXX. see announced Now a

XXXX. that some projects also into recouping now bid some hope we into solutions, visibility get the in And of on recouping specialty we've new got services or begin. as the XXXX and settled that, to we start e-infrastructure So

we've So done that.

On have added with side, factored the for e-infrastructure equipment making segment first sure the for we core the have. we more turning time, our the would But work we're to the we're equipment not honest, we're of skis. side now we they've got be in But the sure we going XXXX and quarter. away get if for just know our we've or the capacity into we're that because we take equipment frankly, customers, in have making the taking books capacity and in we capacity actually that the we year, we're I'll factored had more equipment, got care be projects capacity getting over than work on But we forecast. the up

Ronald Ballschmiede

that combined our about strong have, the compared revenue That's of of add million. a Petillo. are backlog would history, relationship. expectations. pretty that $XXX backlog for There rates I to other group that X/X run the we That's including e-infrastructure that of like backlog, productivity the XXXX pricing What we We've we into XXXX. that. And it roll around course, learned roll about and backlog. means we a and in have planning contingency things is as that did lot through through

pretty be we XXXX. think off it's we better So it rolled in will backlog, insights old over that, have as we've simple the what

to And is give the provide certainly, going that's or the help X/X to going us of year, So take. us. backlog

So looking that think forward I performance. we're to

Sean Eastman

Got it.

from accretion how is in and outlook revenue Okay. And growth this Petillo? Good EPS stuff. much then

Joseph Cutillo

$X.XX. me. number of exactly front between $X.XX that have don't I it's to want and I in say

Sean Eastman

Got $X.XX. to $X.XX it.

Ronald Ballschmiede

didn't I pro -- formas and better have better when... my a bring ones have I'll

Joseph Cutillo

on more can information Sean. We give detail you that,

Sean Eastman

growth. here. outlook Xx. fourth if guys pull just the backlog the Petillo, in commentary organic I looks book-to-bill out obviously, -- But growth, the it is the then I was robust commentary demand wanted at you pretty to underlying look from work like below quarter, out organic And Yes,

e-infra how So side whether over awards here, just whether transportation trajectory couple getting stuff in. the there's the we should in, some the backlog stuff on that's coming to curious or next load anticipate quarters of some ready chunky

about how think to that. curious Just

Joseph Cutillo

see decline. what backlog So we see think continue we'll is, to I could

playing If pretty year, you out this year we and it's back into go last accurately... this said -- coming and and

Ronald Ballschmiede

and you break sure Yes, backlog. make out

Joseph Cutillo

quarter. is not transportation booked beginning Yes. And in last if But sitting jobs declining, remember, backlog several for period in e-infrastructure is had long the improving. won design-build Sean, you been signed but the at backlog we of for They really year, of time. a for large

up that. there's off. So And spike that to not some we're the replace those that skews to and mega-projects degree, burning

So and on singles focusing making and and margin. quick-turn we're doubles still we're the higher hitting projects sure small

continue So get to year. have has the the bill, of bid transportation we I activity through decline in -- activity. results seen this first bid And new significant the think not on infrastructure side, a frankly, see that as not the of half we of we'll adjusted of engineers' factor And estimates that half We've in because probably taking months, our or is are being pre-inflation none of a there's place. last awarded won the their did more dozen have another them yet estimates. EOTs which, jobs a engineering not increase the couple

seeing to we're anywhere than the that are engineers' XX% all coming being from original in So XX% the won, jobs estimates. higher

reestimate go those, rebid versus do, cycle issues and back for the would the prices because they into and material just normally you where is what they'll the all bring are. that's course-correct them out then So

will that continue think we decline. to So

of the big XXX, you inflation. outs, some distribution Where would as centers again, and that a lot times, over On the seen, if and happening e-commerce develop the buy XXX things of data phases. of have some XXX, big build of COVID nice the the of remember e-infrastructure they we the some space, talking about a one that's result of us and acres

data year do center. ask at we projects is seeing center, do them entire recently time. What they on us, do the all finish year thing. X we're A build come X to Phase come X. won, II. the we finished phases later, data or They back, of We the So we a rough build a Phase we've I, cut

longer competition, us. there So on and but keeps which great for Reduces also they're complex, bigger, is they're the the there location playing on us bigger. more out field

make candidly, the sight why, of That work XXXX. beneficial. of turning for the got the to we're line are mid-range we that's in we sure of and jobs away coming So capacity see the smaller And out some those help?

Sean Eastman

one it And Interesting. for Yes, last me. helps then definitely, massively.

think are around year exiting crazy Not there. I you guys leverage. the X.Xx here

So on organic delever? What's offensive? next focus curious, just stay Or growth you message Do organic, the here? what's I'm the there? and we funding do just on

Joseph Cutillo

Yes.

now, I tuck-ins it. at buy to looking Right won't in right? right not that looking X strategic time, continue in that out we point -- just And to the for think tell down debt, we'll broaden both. fourth you that I we that fit for found have. some to adds leg we're segments haven't I mean, we're

we the So tell buying we're I actively the down today, as sit here, and But are bushes. we beating constantly debt. you, will

to nice in look other that deals. is earliest a of cases, lot in a are, is the lot starting first The thing of happen we or

us some deals So have ago. had of of we that chance may kind that a gives not first a years few

that's in. to So a nice be position

Ronald Ballschmiede

minus kind the consistent been And and helpful from we've X has my it very was Yes. -- of future -- we've plus I meant standpoint EBITDA I business X.Xx enjoyed we of because comfortable are are clear now the -- reasons I flow the our -- a since of or of in transforming strong. hopefully And very in the think calculation. we with been cash kind comments, that on is

and debt almost immediately and cash Petillo the had with it's million is, point of of worth $XX our our by interesting other some accretive balance sheet, little the it majority reduced funded a being of stock, on -- million $XX it acquisition ratio. leverage our we but So

find like if We can more be of you slow advantage at we that. So won't economics, will. premier transactions taking

Joseph Cutillo

something I The we we've are fact X/X, a Brent that that get and it think the that -- of and kind you thing, call time to flow it lot take on. X/X, the off X/X, business, I going throwing year that buy we've part this on bite bring able down And it businesses sure one debt, spent looking of those we're Sean, gets I'm to or from cash we're -- that continue part even total as really for an really, acquisition what the do. it been to able is capital continue last it's to that of debt more. of and trend businesses leverage, and help the buy strategy impressive either do

Sean Eastman

Okay. sneak Again, I'm going very more helpful. one here. in to

spirit particularly, half, kind year. appropriate within I this Just or mean, the strange comp cadence of don't early here? half out know, back year weighting an from numbers EPS in any outlook? in you'd first year, up point setting there full early the Is in point maybe out anything of nuances you'd I perspective the

Joseph Cutillo

Not of transformed first our right? kind it mean, through our you always as really. becomes they I slowest fourth quarters history, If we've company, quarter, quarter than look our were is on. the stronger early

some to to through So of significance we we plans. I potential pick like the But as we that's at the get back seasonality. as in loaded and see normalization It's where of kind quarter or -- a it, significant the don't back-half changes see but any think, year from half, just as I upside continue we go have, first we of forward. To me, nothing our other inflation, look if continue loaded. to up pricing

Ronald Ballschmiede

Yes.

XXXX a new becomes quarter shift the from by in saw changed it's pretty lumpy Transportation risk of how of the because that that. lays Solutions business and I being that think out we norm things significantly like and the weather

XXXX. but some I probably in look of in that less mix business, think feel of still had seasonality in smoother theoretically to little Shouldn't Petillo first similar and a what the earnings, improve more kind Plateau, because operating expect it we same the quarter. with or bit the we will

Operator

the We for remarks. Cutillo to and Mr. end session, of have over closing Joe call question-and-answer I reached the will now the turn

Joseph Cutillo

I'd call. again Thanks, thank to Kyle. joining like everyone today's for

to refer follow-up hope Relations Group. release and press in our Investor great please or partners the day again our the has questions, for I joining a at related any the have provided at to you The Equity If information call. Sterling group everyone thanks in

Operator

concludes conference, at may your and for you today's lines This you participation. disconnect Thank your this time.

Joseph Cutillo	CEO, President & Director
Ronald Ballschmiede	EVP, CFO, CAO & Treasurer
Brent Thielman	D.A. Davidson & Co.
Sean Eastman	KeyBanc Capital Markets

Sterling Infrastructure (STRL) 1 Mar 222021 Q4 Earnings call transcript