Everus Construction Group, Inc. reported significant financial growth in its 2025 fiscal year, with operating revenues reaching $3.75 billion, a 31.5% increase from $2.85 billion in 2024. The company's gross profit also rose to $454.1 million, reflecting a 33.8% increase from the previous year. This growth was attributed to higher workloads across various sectors, particularly in the Electrical & Mechanical (E&M) segment, which generated approximately 78% of total revenues. The E&M segment saw revenues increase by 43.8% to $2.92 billion, while the Transmission & Distribution (T&D) segment experienced a modest 1.4% increase to $848.5 million.
The company’s net income for 2025 was reported at $201.8 million, a 40.7% increase from $143.4 million in 2024. This growth in profitability was driven by increased gross profit and income from equity method investments, despite higher selling, general, and administrative expenses. The operating income margin improved to 7.1%, up from 6.7% in the prior year. The increase in revenues and profitability was also supported by favorable changes in estimates related to performance obligations, which positively impacted revenues by approximately $113.7 million.
In terms of operational developments, Everus served around 4,000 customers across more than 44,000 projects in 2025, compared to approximately 3,900 customers and 43,000 projects in 2024. The company maintained a peak employee count of approximately 10,000 in 2025, reflecting its capacity to manage increased project demands. The company’s strategic focus on expanding its geographic footprint and enhancing its service offerings through acquisitions has contributed to its growth trajectory. Everus has completed over 25 acquisitions since its inception, which has bolstered its market presence.
The company also reported a backlog of $2.59 billion as of December 31, 2025, indicating strong future revenue potential. This backlog is expected to be realized over the next 12 months, with approximately $2.33 billion anticipated to be recognized within that timeframe. The company’s strategic initiatives, including its focus on high-tech and renewable energy projects, position it well to capitalize on ongoing infrastructure investments and demand for construction services.
Looking ahead, Everus anticipates continued growth driven by favorable market conditions, including increased public spending on infrastructure and a growing emphasis on renewable energy projects. However, the company remains cautious of potential risks, including supply chain disruptions and inflationary pressures that could impact material costs and project timelines. The management's outlook reflects a commitment to maintaining operational efficiency and leveraging its strong market position to navigate these challenges effectively.
About Everus Construction Group, Inc.
Everus Construction Group, Inc. provides specialty construction services across electrical, mechanical, transmission, and distribution segments in the U.S. market. Serving utility, industrial, commercial, and renewable energy sectors, it offers project design, installation, maintenance, and equipment solutions. With a focus on safety, quality, and customer relationships, Everus operates through local brands, supporting infrastructure development and energy transition efforts nationwide.
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