Latest news with #InfrastructureInvestmentandJobsAct
Yahoo
19 hours ago
- Business
- Yahoo
Can Sterling Continue to Maintain Its 29% EPS Growth in 2025?
Sterling Infrastructure, Inc. STRL has shifted its focus toward large-scale mission-critical projects, including data centers, which are proving incremental for its bottom line and revenue visibility. Supporting this strategic decision of the company is the current favorable market backdrop concerning public infrastructure demand, backed by several government initiatives, namely the Infrastructure Investment and Jobs Act (IIJA), CHIPS Act and Inflation Reduction Act (IRA). This shift toward higher-margin service offerings is boding well for STRL's margin and earnings per share (EPS) growth, as evidenced by the 29.4% year-over-year EPS growth in the first quarter of 2025, alongside its adjusted operating margin expanding 618 basis demand for data center-related projects is currently strong in the market thanks to the ongoing surge in Artificial Intelligence applications and the focus on digital transformation initiatives. STRL highlighted that the mission-critical projects hold the majority of its E-Infrastructure segment's (51% of first quarter 2025 revenue) backlog, with data center-related work accounting for more than 65%. Backed by the robust market trends, the E-Infrastructure segment's backlog grew 27% year over year to $1.2 billion as of the first quarter of 2025, with Sterling finishing the quarter with a total backlog of $2.13 Sterling's efficient project management skills and ability to complete projects on or before the deadline are acting as a catalyst toward its growth amid the favorable infrastructure spending market backdrop. Owing to these tailwinds, the company raised its 2025 adjusted EPS guidance to be in the range of $8.40-$8.90 from the previously expected range of $7.90-$8.40. The updated values reflect 18.5-25.5% year-over-year growth. The analysts' sentiments are bullish for Sterling, attributable to increased public infrastructure demand and its ability to capitalize on those opportunities, driving its backlog. For 2025, STRL's earnings estimates have trended upward in the past 60 days to $8.61 per share. The estimated figures reflect 41.2% year-over-year growth. Although the 2026 earnings estimate has been revised downward in the past 60 days to $9.48 per share, the estimated figure indicates 10.1% year-over-year growth. Image Source: Zacks Investment Research Moreover, EPS estimates for the second, third and fourth quarters indicate 35.3%, 32.5% and 43.8% year-over-year growth, respectively. The robust trend indicates that the company will be able to maintain or rather outperform its EPS growth streak for the remainder of 2025. STRL shares space with renowned market players, including EMCOR Group, Inc. EME and Quanta Services, Inc. PWR, which are also benefiting from the market backdrop of strong public infrastructure demand, especially across data centers, energy infrastructure and power grid is a Connecticut-based mechanical and electrical construction, industrial and energy infrastructure, and building services provider, which is gaining from the growing infrastructural demand across the network and communications sector. For 2025 and 2026, EMCOR's EPS estimates trended upward in the past 60 days by 0.9% to $23.59 and 0.3% to $25.47, indicating 9.6% and 8% year-over-year growth, is a Texas-based infrastructure services provider, currently benefiting from its involvement in the advancement and implementation of technology solutions throughout the entire decarbonization spectrum. For 2025 and 2026, Quanta's EPS estimates moved up in the past 60 days by 1% to $10.33 and 0.1% to $11.69, indicating 15.2% and 13.2% year-over-year growth, respectively. Shares of this Texas-based infrastructure services provider have gained 35.7% so far this year, significantly outperforming the Zacks Engineering - R and D Services industry, the broader Zacks Construction sector, and the S&P 500 index. Image Source: Zacks Investment Research STRL stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 25.32X, as evidenced by the chart below. The overvaluation of the stock compared with its industry peers indicates its strong potential in the market, given the favorable trends backing it up. Image Source: Zacks Investment Research The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Quanta Services, Inc. (PWR) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report Sterling Infrastructure, Inc. (STRL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Miami Herald
3 days ago
- Automotive
- Miami Herald
Judge Quotes ‘The Simpsons' in Ruling Against Donald Trump
A U.S. judge quoted from an episode of The Simpsons while ordering the Donald Trump administration to unfreeze billions of dollars in electric vehicle charger funding for 14 states. On Tuesday, District Judge Tana Lin granted a partial injunction to the states which sued the Department of Transportation over blocking the funds, and said that the states would likely succeed in their suit alleging that these were withheld illegally. In her ruling, Lin quoted from the TV show, writing: "In a 1995 episode of The Simpsons, Homer must cut short a tearful goodbye with his long-lost mother after her traveling companions protest that their 'electric van only has minutes of juice left!'" "Some 26 years later, Congress sought to address the phenomenon that has come to be known as 'range anxiety': the unease experienced by electric vehicle ("EV") drivers when they are unsure where the next charging station might be, and whether their car's battery has sufficient charge to get them there," she continued. Newsweek has reached out to the Department of Transportation and The Federal Highway Administration via email for comment on Lin's ruling. Earlier this year, the Department of Transportation suspended the nationwide EV charging program and ordered a halt on new programs until guidance was updated. Sixteen states along with the District of Columbia sued the administration over the decision, arguing that it did not have the authority to withhold funds previously approved by Congress, a claim now handed backing by the Seattle-based court. Lin's ruling also follows further anti-EV actions by the Trump administration. Earlier this month, the president signed several resolutions aimed at dismantling California's efforts to promote the adoption of electric vehicles and phase out internal combustion engine vehicles by 2035. The National Electric Vehicle Infrastructure (NEVI) Formula Program was a federal initiative included in the Infrastructure Investment and Jobs Act signed by then-President Joe Biden in November 2021. The NEVI program was set to allocate $5 billion over five years to various states for the development of a national electric vehicle charging network. According to AP, an estimated $3.3 billion of these funds had already been made available. In February, however, the administration ordered states to stop spending money under the program, and halted new funding for EV charging stations. This led 16 states to sue the administration, arguing that it was illegally withholding the funds and that the freeze had halted some projects mid-progress. On Tuesday, Lin said that the administration had overstepped its constitutional authority, and ordered that funding be released for 14 of the states involved in the lawsuit. However, she denied granting a preliminary injunction for D.C. Minnesota or Vermont, stating that they "did not proffer any evidence … that demonstrates the irreparable harm that would befall them absent injunctive relief." U.S. District Judge Tana Lin, in her Tuesday ruling, wrote: "Although range anxiety, EV charging stations, and current DOT leadership's policy preferences lurk in the background of this case, the bedrock doctrines of separation of powers and agency accountability, as enshrined in Constitution and statute, are indifferent to subject matter and blind to personality. "When the Executive Branch treads upon the will of the Legislative Branch, and when an administrative agency acts contrary to law, it is the Court's responsibility to remediate the situation and restore the balance of power. Such remediation and restoration are what the Court undertakes herein." California Attorney General Rob Bonta, in a statement following the ruling, said: "The administration cannot dismiss programs illegally, like the bipartisan Electric Vehicle Infrastructure formula program, just so that the President's Big Oil friends can continue basking in record-breaking profits. "We are pleased with today's order blocking the Administration's unconstitutional attempt to do so, and California looks forward to continuing to vigorously defend itself from this executive branch overreach." Lin's ruling will take effect in seven days, on July 2, before which the Trump administration will be able to file an appeal. Related Articles Four Signs Iran and Israel Could Soon Return to WarDid Donald Trump's Bombing of Iran Fail? What We KnowTrump Compares US Strikes on Iran to Bombing of Hiroshima and NagasakiVideo Shows Top Iranian Commander Alive, Defying Death Reports 2025 NEWSWEEK DIGITAL LLC.
Yahoo
3 days ago
- Automotive
- Yahoo
Judge blocks Trump from withholding EV charger infrastructure funds
A federal judge on Tuesday issued a ruling blocking the Trump administration from withholding funds for electric vehicle charger infrastructure from 14 states. U.S. District Judge Tana Lin said the government overstepped their Constitutional authority by refusing to disperse dollars attached to the Infrastructure Investment and Jobs Act passed by former President Biden. The initiative was created to help rid EV drivers of range anxiety, which is defined as the unease experienced by electric vehicle ('EV') drivers when they are unsure where the next charging station might be and whether their car's battery has sufficient charge to get them there. 'Congress appropriated $5 billion to fund a National Electric Vehicle Infrastructure ('NEVI') Formula Program, the purpose of which was—and still is— 'to strategically deploy electric vehicle charging infrastructure and to establish an interconnected network to facilitate data collection, access, and reliability,'' Lim's order. However, the U.S. Department of Transportation suspended the program in February and rescinded approval of state plans pending a review, according to Reuters. Under Lim's order, EV infrastructure plans will be restored in Arizona, California, Colorado, Delaware, Hawai'i, Illinois, Maryland, New Jersey, New Mexico, New York, Oregon, Rhode Island, Washington and Wisconsin. The ruling does not apply to Minnesota, the District of Columbia, and Vermont, which Lim said failed to prove immediate harm following the DOT decision. The Trump administration now has seven days to appeal the order before it goes into effect. The White House did not immediately respond to The Hill's request for comment on the matter. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Newsweek
3 days ago
- Automotive
- Newsweek
Judge Quotes 'The Simpsons' in Ruling Against Donald Trump
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A U.S. judge quoted from an episode of The Simpsons while ordering the Donald Trump administration to unfreeze billions of dollars in electric vehicle charger funding for 14 states. On Tuesday, District Judge Tana Lin granted a partial injunction to the states which sued the Department of Transportation over blocking the funds, and said that the states would likely succeed in their suit alleging that these were withheld illegally. In her ruling, Lin quoted from the TV show, writing: "In a 1995 episode of The Simpsons, Homer must cut short a tearful goodbye with his long-lost mother after her traveling companions protest that their 'electric van only has minutes of juice left!'" "Some 26 years later, Congress sought to address the phenomenon that has come to be known as 'range anxiety': the unease experienced by electric vehicle ("EV") drivers when they are unsure where the next charging station might be, and whether their car's battery has sufficient charge to get them there," she continued. Newsweek has reached out to the Department of Transportation and The Federal Highway Administration via email for comment on Lin's ruling. Why It Matters Earlier this year, the Department of Transportation suspended the nationwide EV charging program and ordered a halt on new programs until guidance was updated. Sixteen states along with the District of Columbia sued the administration over the decision, arguing that it did not have the authority to withhold funds previously approved by Congress, a claim now handed backing by the Seattle-based court. Lin's ruling also follows further anti-EV actions by the Trump administration. Earlier this month, the president signed several resolutions aimed at dismantling California's efforts to promote the adoption of electric vehicles and phase out internal combustion engine vehicles by 2035. What To Know The National Electric Vehicle Infrastructure (NEVI) Formula Program was a federal initiative included in the Infrastructure Investment and Jobs Act signed by then-President Joe Biden in November 2021. The NEVI program was set to allocate $5 billion over five years to various states for the development of a national electric vehicle charging network. According to AP, an estimated $3.3 billion of these funds had already been made available. President Donald Trump boards Air Force One at Morristown Municipal Airport, N.J, Saturday, June 21, 2025. Homer Simpson visits The Empire State Building to celebrate the 30th anniversary of "The Simpsons" on December 17, 2018.... President Donald Trump boards Air Force One at Morristown Municipal Airport, N.J, Saturday, June 21, 2025. Homer Simpson visits The Empire State Building to celebrate the 30th anniversary of "The Simpsons" on December 17, 2018. More Manuel Balce Ceneta / Noam Galai/AP Photo / Getty Images In February, however, the administration ordered states to stop spending money under the program, and halted new funding for EV charging stations. This led 16 states to sue the administration, arguing that it was illegally withholding the funds and that the freeze had halted some projects mid-progress. On Tuesday, Lin said that the administration had overstepped its constitutional authority, and ordered that funding be released for 14 of the states involved in the lawsuit. However, she denied granting a preliminary injunction for D.C. Minnesota or Vermont, stating that they "did not proffer any evidence … that demonstrates the irreparable harm that would befall them absent injunctive relief." What People Are Saying U.S. District Judge Tana Lin, in her Tuesday ruling, wrote: "Although range anxiety, EV charging stations, and current DOT leadership's policy preferences lurk in the background of this case, the bedrock doctrines of separation of powers and agency accountability, as enshrined in Constitution and statute, are indifferent to subject matter and blind to personality. "When the Executive Branch treads upon the will of the Legislative Branch, and when an administrative agency acts contrary to law, it is the Court's responsibility to remediate the situation and restore the balance of power. Such remediation and restoration are what the Court undertakes herein." California Attorney General Rob Bonta, in a statement following the ruling, said: "The administration cannot dismiss programs illegally, like the bipartisan Electric Vehicle Infrastructure formula program, just so that the President's Big Oil friends can continue basking in record-breaking profits. "We are pleased with today's order blocking the Administration's unconstitutional attempt to do so, and California looks forward to continuing to vigorously defend itself from this executive branch overreach." What Happens Next? Lin's ruling will take effect in seven days, on July 2, before which the Trump administration will be able to file an appeal.
UPI
3 days ago
- Business
- UPI
Judges orders Trump to unfreeze EV charging infrastructure funds
A federal judge has ruled that the Trump administration must unfreeze funds Congress previously allocated for electric vehicle charging infrastructure. File Photo by Sarah Silbiger/UPI | License Photo June 25 (UPI) -- A federal judge has ordered President Donald Trump and his administration to release billions of Congress-approved dollars for electric vehicle charging infrastructure that they froze shortly after returning to the White House. In her 66-page ruling Tuesday, Judge Tana Lin in Seattle found that President Donald Trump violated the separation-of-powers doctrine enshrined in the Constitution and overextended executive authority when he halted the distribution of funds earmarked to expand the United States' EV charging network. The ruling comes in a lawsuit filed in early May by 16 states and the District of Columbia. However, Lin, a President Joe Biden appointee, only awarded a partial preliminary injunction, ordering the Trump administration to disburse the money to 14 of the states. D.C., Minnesota and Vermont did not provide sufficient evidence demonstrating "the irreparable harm that would befall them absent injunctive relief." "Although these three Plaintiffs, like the other established sufficient injury to satisfy the ripeness requirement ... they have not provided any testimony, beyond what is alleged in the complaint, that demonstrates, say, a delayed or canceled project, a budget thrown into chaos or a withdrawn request for proposals," she wrote. On his first day in office, Trump signed an executive order titled Unleashing American Energy that directed federal agencies to pause the disbursement of funds appropriated through Biden's $1 trillion Infrastructure Investment and Jobs Act, including funds for the National Electric Vehicle Infrastructure Formula Program. In early February, the Department of Transportation, directed under the executive order, rescinded guidance for the NEVI Formula Program and indefinitely suspended the approval of all current and future state EV infrastructure deployment plans. The states filed their lawsuit, accusing the Trump administration of not only illegally withholding the funds but also that doing so would inflict harm. In California, Gov. Gavin Newsom said the freezing of the funds would cost the state more than $300 million while eliminating thousands of jobs. "The administration cannot dismiss programs illegally, like the bipartisan Electric Vehicle Infrastructure Formula Program, just so that the President's Big Oil friends can continue basking in record-breaking profits," California Attorney General Rob Bonta said in a statement Tuesday in response to Lin's ruling. "We are pleased with today's order blocking the Administration's unconstitutional attempt to do so, and California looks forward to continuing to vigorously defend itself from this executive branch overreach." Lin's preliminary injunction will go into effect July 2 unless the Trump administration appeals.
