POWL - Sterling Infrastructure: Buy This Small Cap Growth Stock Even After The Earnings Pop
2024-05-07 13:54:05 ET
Summary
- Infrastructure companies in the US, such as Powell Industries and Sterling Infrastructure, are experiencing significant growth and strong earnings reports.
- Sterling Infrastructure's Q1 2024 earnings showed a 9% increase in revenue, 17.5% gross margin, and a 58% increase in net income.
- Sterling Infrastructure is actively seeking acquisition targets and has a positive outlook for the remainder of 2024, making it a strong buy.
Infrastructure companies in the US are growing like gangbusters and recent earnings reports from companies such as Powell Industries ( POWL ) are experiencing huge returns from buyers driving up the price post earnings. For example, POWL popped from about $142 on April 30 to as high as $176 on May 1 after investors digested the latest earnings report . In that report for fiscal Q2 2024 (the period ending March 31), POWL reported a nearly 50% increase in YOY revenue growth....
Sterling Infrastructure: Buy This Small Cap Growth Stock Even After The Earnings Pop