Everus Construction Group (ECG) Company Report

Everus Construction Group (ECG) reported record Q4 2025 revenues in excess of $1 billion, a 33% increase from the prior year, with EBITDA up 45% and an EBITDA margin of 8.4%.
For the full year 2025, ECG's revenues grew 31.5% to $3.75 billion, and EBITDA increased 37.7% to $319.8 million.
The company concluded 2025 with a record backlog of $3.23 billion, marking a 16% increase from the previous year, providing strong visibility for 2026.
Initial 2026 guidance forecasts revenues between $4.1 billion and $4.2 billion and EBITDA in the range of $320 million to $335 million.
ECG increased its workforce to approximately 9,400 employees by the end of 2025, up from 8,700 in 2024, and is actively pursuing strategic acquisitions to expand its footprint and diversify its business.

Feb 25, 2026, 3:30 PM

Transcript

Everus Construction Group Announces Strong Q4 and Full-Year 2025 Results with Record Backlog and Provides 2026 Guidance

ECG

Earnings

Guidance Update

Revenue Acceleration/Inflection

Everus Construction Group reported strong revenue growth of 33.1% to $1,011.5 million in Q4 2025 and 31.5% to $3,746.4 million for the full year 2025.
EBITDA increased 45.5% to $84.8 million in Q4 2025 and 37.7% to $319.8 million for the full year 2025, with an EBITDA margin of 8.4% in Q4.
The company achieved a record backlog of $3.23 billion at the end of Q4 2025, up 16% from the prior year, reflecting continued momentum in E&M and T&D.
Financial flexibility remains strong with net leverage at 0.4x as of December 31, 2025, well below the long-term target, and free cash flow of $100.0 million for 2025.
For 2026, ECG provided revenue guidance of $4.1 billion to $4.2 billion and EBITDA guidance of $320 million to $335 million.

Feb 25, 2026, 3:30 PM

Presentation

Everus Construction Group Reports Record Q4 and Full-Year 2025 Results, Provides 2026 Guidance

ECG

Earnings

Guidance Update

M&A

Everus Construction Group reported record fourth quarter 2025 revenues of $1.01 billion, a 33% increase year-over-year, and EBITDA of $84.8 million, up 45% from the prior year period.
For the full year 2025, revenues increased 31.5% to $3.75 billion, with EBITDA rising 37.7% to $319.8 million. The company's backlog at year-end 2025 reached a record $3.23 billion, up 16% from December 31, 2024.
The company provided 2026 revenue guidance in the range of $4.1 billion to $4.2 billion and EBITDA guidance between $320 million and $335 million. The midpoint of the EBITDA guidance reflects an EBITDA margin of just under 8%.
Everus ended 2025 with approximately 9,400 employees and a net leverage of approximately 0.4x. The company is actively pursuing strategic M&A opportunities, targeting a long-term leverage of 1.5x-2x to support growth initiatives.

Feb 25, 2026, 3:30 PM

Transcript

Everus Construction Group Announces Record Q4 and Full-Year 2025 Results and Provides 2026 Guidance

ECG

Earnings

Guidance Update

M&A

Everus Construction Group reported record full-year 2025 revenues of $3.75 billion, a 31.5% increase from 2024, and record full-year EBITDA of $319.8 million, up 37.7%. The company's backlog also reached a record $3.23 billion at year-end 2025, up 16% from the prior year.
For 2026, the company forecasts revenues between $4.1 billion and $4.2 billion and EBITDA between $320 million and $335 million, reflecting continued momentum.
With a net leverage of approximately 0.4x as of December 31, 2025, Everus Construction Group is actively pursuing strategic M&A opportunities to expand its footprint, diversify, or deepen market presence, with a target leverage range of 1.5x-2x.
Capital expenditures increased to $66.8 million in 2025 to support organic growth initiatives, consistent with a long-term strategy to invest 2%-2.5% of revenues.

Feb 25, 2026, 3:30 PM

Transcript

Everus Construction Group Reports Q4 and Full-Year 2025 Results, Initiates 2026 Guidance

ECG

Earnings

Guidance Update

Revenue Acceleration/Inflection

For the fourth quarter of 2025, Everus Construction Group (ECG) reported revenues of $1.01 billion, an increase of 33.1%, and diluted earnings per share (EPS) of $1.08, up 61.2%.
The company achieved record full-year 2025 revenues of $3.75 billion, a 31.5% increase, and record diluted EPS of $3.95, up 40.6%.
ECG ended 2025 with a record backlog of $3.23 billion, up 16.1% from December 31, 2024, and a net leverage of 0.4x.
Everus initiated 2026 guidance, projecting revenues in the range of $4.1 billion to $4.2 billion and EBITDA between $320 million and $335 million.

Feb 24, 2026, 9:30 PM

8-K

Everus Construction Group Reports Record Q4 and Full-Year 2025 Results, Initiates 2026 Guidance

ECG

Earnings

Guidance Update

Revenue Acceleration/Inflection

Everus Construction Group reported record fourth quarter 2025 revenues of $1.01 billion and full-year 2025 revenues of $3.75 billion, representing increases of 33.1% and 31.5% respectively compared to the prior year.
For the full year 2025, the company achieved record net income of $201.8 million and diluted EPS of $3.95, up 40.7% and 40.6% from 2024.
The company ended 2025 with a record backlog of $3.23 billion, an increase of 16.1% from December 31, 2024, providing strong visibility for 2026.
Everus initiated 2026 guidance, projecting revenues between $4.1 billion and $4.2 billion and EBITDA between $320 million and $335 million.

Feb 24, 2026, 9:30 PM

Press Release

Everus Construction Group Reports Record Q3 2025 Results and Raises Full-Year Guidance

ECG

Earnings

Guidance Update

Revenue Acceleration/Inflection

Everus Construction Group reported record quarterly revenue, net income, and EBITDA for Q3 2025, with revenue increasing 30% and EBITDA increasing 37% compared to the prior year period.
For Q3 2025, revenue reached $986.8 million and EBITDA was $89 million, resulting in an EBITDA margin of 9%.
The company's total backlog stood at $2.95 billion as of September 30, 2025, reflecting a 2% increase from the prior year and 6% from the end of 2024.
Everus raised its full-year 2025 guidance, now forecasting revenue in the range of $3.55 billion-$3.65 billion and EBITDA between $290 million-$300 million.
Performance was driven by strong growth in the electrical and mechanical segment, particularly the data center submarket, and the company reported a net leverage of approximately 0.5 times.

Nov 5, 2025, 3:30 PM

Transcript

Everus Reports Record Q3 2025 Results and Raises Full-Year Guidance

ECG

Earnings

Guidance Update

Revenue Acceleration/Inflection

Everus reported record quarterly revenue of $986.8 million, a 30% increase from the prior year, and EBITDA of $89 million, up 37%, leading to a 9% EBITDA margin for Q3 2025.
The company raised its full-year 2025 guidance, now expecting revenues between $3.55 billion and $3.65 billion and EBITDA between $290 million and $300 million.
Total backlog reached $2.95 billion at the end of Q3 2025, reflecting a 2% increase from the prior year and 6% from the end of 2024, with strong growth in the Electrical & Mechanical segment and T&D backlog up 19%.
Operating cash flows for the first nine months of 2025 were $108.6 million, with free cash flow at $74.8 million, and net leverage stood at approximately 0.5 times.

Nov 5, 2025, 3:30 PM

Transcript

Everus Construction Group Reports Record Q3 2025 Results and Raises Full-Year Guidance

ECG

Earnings

Guidance Update

New Projects/Investments

Everus Construction Group reported record quarterly revenue of $986.8 million for Q3 2025, an increase of 30% compared to the same period last year, primarily driven by strong growth in the electrical and mechanical (E&M) segment and sustained momentum in the data center submarket.
Total EBITDA for Q3 2025 was $89 million, marking a 37% increase from the prior year period, with an EBITDA margin of 9%, up 50 basis points from 8.5%.
The company's total backlog as of September 30, 2025, reached $2.95 billion, representing a 6% increase from the end of 2024.
Everus raised its full-year 2025 guidance, now forecasting revenues in the range of $3.55 billion to $3.65 billion and EBITDA in the range of $290 million to $300 million.
The company is actively evaluating M&A opportunities, noting a broader and deeper funnel, and aims for geographical expansion in both the T&D and E&M segments.

Nov 5, 2025, 3:30 PM

Transcript

ECG Reports Strong Q3 2025 Results and Raises Full-Year Guidance

ECG

Earnings

Guidance Update

Revenue Acceleration/Inflection

ECG reported strong Q3 2025 results with revenue growth of 30% to $986.8 million and EBITDA increasing 37% to $89.0 million.
The company achieved an EBITDA margin of 9.0%, up 50 basis points from the prior year, and its backlog grew 2% to $2.95 billion as of September 30, 2025.
Net debt was $159 million at September 30, 2025, leading to a net leverage of 0.5x, well below the long-term target range, and year-to-date free cash flow improved to $74.8 million.
ECG raised its 2025 financial guidance, now expecting revenues between $3.55 billion and $3.65 billion and EBITDA between $290 million and $300 million.