XML 14 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenues $ 582,822 $ 522,325 $ 1,023,182 $ 925,904
Cost of revenues (470,079) (430,051) (833,535) (771,888)
Gross profit 112,743 92,274 189,647 154,016
General and administrative expense (27,856) (24,034) (55,154) (47,355)
Intangible asset amortization (4,280) (3,737) (8,577) (7,473)
Acquisition related costs (101) (59) (137) (249)
Other operating expense, net (7,772) (4,181) (10,920) (6,049)
Operating income 72,734 60,263 114,859 92,890
Interest income 6,305 2,203 12,207 4,177
Interest expense (6,513) (7,731) (13,177) (15,259)
Income before income taxes 72,526 54,735 113,889 81,808
Income tax expense (17,952) (14,505) (25,556) (21,538)
Net income, including noncontrolling interests 54,574 40,230 88,333 60,270
Less: Net income attributable to noncontrolling interests (2,695) (750) (5,406) (1,141)
Net income attributable to Sterling common stockholders $ 51,879 $ 39,480 $ 82,927 $ 59,129
Net income per share attributable to Sterling common stockholders:        
Basic (in dollars per share) $ 1.68 $ 1.28 $ 2.68 $ 1.93
Diluted (in dollars per share) $ 1.67 $ 1.27 $ 2.66 $ 1.91
Weighted average common shares outstanding:        
Basic (in shares) 30,914 30,780 30,945 30,699
Diluted (in shares) 31,145 31,000 31,158 30,886