Everus Construction Group Reports 33.7% Revenue Growth to $1.23 Billion in Latest Quarter

Everus Construction Group, Inc. reported significant financial growth in its latest quarterly results, with operating revenues reaching $1.23 billion for the three months ended June 30, 2026, a 33.7% increase from $921.5 million in the same period last year. The company's net income also saw a substantial rise, climbing to $83.9 million, up 58.9% from $52.8 million in the prior year. This growth was driven by a 41.6% increase in revenues from the Electrical & Mechanical (E&M) segment, which contributed $1.01 billion, while the Transmission & Distribution (T&D) segment added $227.5 million, reflecting a 7.1% increase.

The financial performance for the first half of 2026 mirrored this upward trend, with total revenues of $2.27 billion, a 29.8% increase from $1.75 billion in the first half of 2025. Net income for the six-month period was $142.2 million, representing a 58.9% increase from $89.5 million in the previous year. The company attributed this growth to increased workloads, particularly in the commercial and industrial markets, and the successful integration of SE&M Constructors, which was acquired in April 2026 for $158 million.

Operationally, Everus reported a total of $1.48 billion in current assets as of June 30, 2026, up from $1.30 billion at the end of 2025. This increase was primarily driven by a rise in receivables, which grew to $919.2 million from $769.8 million, and contract assets, which increased to $290.2 million from $255.8 million. The company’s total liabilities also rose to $1.28 billion, up from $1.10 billion, largely due to increased accounts payable and contract liabilities, which reflect the company's ongoing project commitments.

Looking ahead, Everus remains optimistic about its growth trajectory, bolstered by a strong backlog of $3.64 billion as of June 30, 2026, which is expected to support future revenue generation. The company is also preparing for the acquisition of Epsilon Industries for $295 million, which is anticipated to enhance its service capabilities and geographic reach. Everus continues to focus on strategic growth through both organic expansion and acquisitions, while managing costs and maintaining operational efficiency in a competitive construction market.