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0.46%
-0.90
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Why is Sterling Infrastructure Inc (STRL) Stock down?
We've noticed a 5.88% decline in Sterling Infrastructure Inc (STRL) stock during the 2024-11-07 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
07 Nov, 2023:
Shares of Sterling Construction Company (STRL) dropped by 15.91% from $74.53 to $62.67 in the trading on Tuesday, November 7, 2023. The reason why STRL down is due to the market's response to the revenue miss, despite the company's earnings beating expectations.
- Sterling Infrastructure reported earnings of $1.26 per share for the quarter, slightly surpassing the Zacks Consensus Estimate of $1.25 per share. This marked an improvement from $0.97 per share in the same quarter the previous year.
- While the company's earnings beat expectations, it fell short on the revenue front, with $560.35 million in quarterly revenues, missing the Zacks Consensus Estimate by 0.22%. This compared to $556.94 million in revenue for the same quarter in the prior year.
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