Everus Construction Group, Inc. reported significant financial growth in its latest quarterly results, with operating revenues reaching $1.04 billion for the three months ended March 31, 2026, a 25.4% increase from $826.6 million in the same period last year. The company's gross profit also saw a substantial rise, climbing to $130.7 million, up 41.3% from $92.5 million in the prior year. This growth translated into a net income of $58.3 million, marking a 58.9% increase compared to $36.7 million in the first quarter of 2025. The earnings per share for the quarter were reported at $1.14, up from $0.72 in the previous year.
The financial performance reflects a notable improvement in operating income, which increased by 52.4% to $77.7 million, driven by higher revenues and efficient project execution. The company's selling, general, and administrative expenses also rose, totaling $53.0 million, an increase of 27.7% from $41.5 million in the prior year, primarily due to increased labor costs to support operational growth. The gross margin improved to 12.6%, up from 11.2% in the same quarter last year, indicating enhanced profitability.
In terms of operational developments, Everus has expanded its geographic footprint and service offerings, particularly in the Electrical & Mechanical (E&M) segment, which reported revenues of $835.1 million, a 28.8% increase from the previous year. The Transmission & Distribution (T&D) segment also contributed to growth, with revenues of $204.4 million, up 10.5%. The company’s backlog as of March 31, 2026, was approximately $2.93 billion, indicating a strong pipeline of future projects, although it decreased from $3.68 billion at the end of 2025.
Strategically, Everus announced the acquisition of SE&M Constructors, Inc. for $158 million, which is expected to enhance its capabilities in mechanical, electrical, and plumbing services across various sectors. This acquisition, finalized on April 1, 2026, is anticipated to be integrated into the E&M segment, further bolstering the company's market position. The company continues to focus on organic growth and strategic acquisitions to expand its service offerings and geographic reach.
Looking ahead, Everus remains optimistic about its growth trajectory, supported by a strong demand for construction services, particularly in data centers and high-tech projects. The company is actively managing costs and exploring opportunities to enhance operational efficiency while navigating challenges such as rising insurance costs and inflationary pressures. The outlook for the remainder of 2026 suggests continued revenue growth, driven by a robust project pipeline and strategic initiatives aimed at maximizing profitability.
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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