Sterling Announces Amendment to Road and Highway Builders, LLC Operating Agreement
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Sterling Infrastructure, Inc. has amended the operating agreement for its subsidiary, Road and Highway Builders, LLC, affecting how its results are reported under GAAP. This change does not impact RHB's contribution to Sterling's net income.
January 07, 2025 | 11:15 pm
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Sterling Infrastructure has amended the operating agreement for its subsidiary, Road and Highway Builders, LLC, which changes the reporting of RHB's results under GAAP. This amendment does not affect RHB's historical or future contribution to Sterling's net income.
The amendment to the operating agreement changes the reporting method under GAAP, which is significant for accounting and regulatory purposes. However, since it does not affect the actual financial contribution of RHB to Sterling's net income, the immediate impact on stock price is likely neutral.
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