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Document and Entity Information - USD ($) | 12 Months Ended | ||
---|---|---|---|
Dec. 31, 2018 | Mar. 01, 2019 | Jun. 30, 2018 | |
Document And Entity Information | |||
Entity Registrant Name | STERLING CONSTRUCTION CO INC | ||
Entity Central Index Key | 0000874238 | ||
Trading Symbol | strl | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Common Stock, Shares Outstanding (in shares) | 26,639,715 | ||
Entity Public Float | $ 341,407,747 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Please wait while we load the requested 10-K report or click the link below:
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Sterling Construction Co Inc.
Sterling Construction Co Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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The improvement was primarily the result of higher gross margins driven by improved bid discipline, project management and project execution of $14.2 million and additional gross profit from the increased volume of approximately $3.3 million.
The improvement was primarily the result of higher gross margins driven by improved bid discipline, project management and project execution of $7.2 million, additional gross profit from the increased revenue of approximately $12.6 million and increased absorption of fixed costs totaling approximately $2.5 million.
Inflation generally has not had a material impact on our financial results; however, from time to time increases in oil, fuel, and steel prices have affected our cost of operations.
The remaining gross profit increase reflects improved performance by heavy civil construction driven by higher gross margins in opening backlog and the substantial completion of heavy civil construction projects in Hawaii and the Rocky Mountain region.
On an ongoing basis, the Company evaluates the critical accounting policies used to prepare its consolidated financial statements, including, but not limited to, those related to: Revenue recognition Valuation of long-lived assets and goodwill Income taxes Our significant accounting policies are described in Note 1 - Summary of Business and Significant Accounting Policies to the consolidated financial statements, and conform to the Financial Accounting Standards Boards Accounting Standards Codification (or GAAP or ASC).
The Tax Act makes broad...Read more
The Oaktree Facility also includes...Read more
The increase in cash provided...Read more
The following tables set forth...Read more
Bid Discipline and Project Execution...Read more
Changes in job performance, job...Read more
The increase in construction joint...Read more
This increase is primarily the...Read more
Cash and Working Capital Cash...Read more
The amount of the deferred...Read more
Revenue in excess of contract...Read more
However, in the event of...Read more
Continuing revenue growth of its...Read more
Gross margin also increased to...Read more
Gross margin also increased to...Read more
Actual useful lives and cash...Read more
The increase in operating income...Read more
To date, we have not...Read more
Sterling's working capital increased $27.2...Read more
Based upon our review of...Read more
These increases were offset by...Read more
Our total margin in Backlog...Read more
Management expects capital expenditures in...Read more
The Company considers claims to...Read more
These increases were partially offset...Read more
The Company is proceeding with...Read more
We anticipate that approximately 75%...Read more
The balance of the revenue...Read more
The balance of the revenue...Read more
Deferred loan costs are amortized...Read more
Claims are included in the...Read more
Other operating expense, net Other...Read more
The remaining gross profit increase...Read more
General and administrative expenses General...Read more
General and administrative expenses General...Read more
The nearer a contract progresses...Read more
The nearer a contract progresses...Read more
The State of Utah also...Read more
The proceeds from the sale...Read more
Income taxes Our effective income...Read more
On a comparable unaudited pro...Read more
Heavy Civil Construction Revenues Heavy...Read more
Change orders are modifications of...Read more
The Oaktree Facility contains various...Read more
Circumstances that could lead to...Read more
Management continually evaluates all of...Read more
On April 3, 2017, the...Read more
Income taxes Our effective income...Read more
The Company recognizes revenue equal...Read more
We will continue to explore...Read more
Approximately one half of the...Read more
The most significant of these...Read more
Based on our average borrowings...Read more
Anticipated cost increases and reductions...Read more
The need for working capital...Read more
Net income attributable to noncontrolling...Read more
If our estimates or assumptions...Read more
This pro forma revenue growth...Read more
Operating income The residential construction...Read more
Gross profit Gross profit increased...Read more
Gross profit Gross profit increased...Read more
Operating income Operating Income was...Read more
Operating income Operating Income was...Read more
On a comparable unaudited pro...Read more
The notes payable related to...Read more
Revenues Revenues for 2018 increased...Read more
Revenues Revenues for 2017 increased...Read more
The core customer base for...Read more
The core customer base for...Read more
Approximately $6.9 million of the...Read more
The increase was primarily attributable...Read more
Surety companies consider such factors...Read more
In November 2018, various state...Read more
We continue to see volume...Read more
Fluctuations in our Contract Capital...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Sterling Construction Co Inc provided additional information to their SEC Filing as exhibits
Ticker: STRL
CIK: 874238
Form Type: 10-K Annual Report
Accession Number: 0000874238-19-000044
Submitted to the SEC: Tue Mar 05 2019 9:39:02 AM EST
Accepted by the SEC: Tue Mar 05 2019
Period: Monday, December 31, 2018
Industry: Heavy Construction Other Than Bldg Const Contractors