Everus Construction Group, Inc. ( (ECG) ) has released its Q4 earnings. Here is a breakdown of the information Everus Construction Group, Inc. presented to its investors.
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Everus Construction Group, Inc. is a prominent player in the construction industry, providing a comprehensive range of electrical, mechanical, and transmission services across various sectors in the United States. The company is recognized for its commitment to ‘Building America’s Future’ and is listed on the S&P SmallCap 600 index.
Everus Construction Group reported strong financial results for the fourth quarter and full year 2024, with a notable increase in revenues and a substantial backlog, signaling a robust operational performance. The company successfully completed its spinoff from MDU Resources Group, Inc. at the end of October 2024, marking its transition into a stand-alone entity.
In the fourth quarter of 2024, Everus achieved revenues of $759.7 million, reflecting a 19.5% growth from the previous year. Despite higher selling, general, and administrative expenses following the spinoff, the company maintained a steady EBITDA of $58.3 million. For the full year, revenues remained consistent at $2.85 billion, with a net income increase of 4.5%. The significant growth in the backlog to $2.8 billion, up 38.3% from the previous year, underscores a strong demand for Everus’ services.
The Electrical and Mechanical segment saw a revenue increase of 20.9% in the fourth quarter, driven by higher workloads in key markets such as data centers. Similarly, the Transmission and Distribution segment experienced a 15.2% revenue increase, bolstered by activities in utility and transportation markets. These results highlight Everus’ strategic focus on diversified end markets and robust project execution.
Looking ahead to 2025, Everus anticipates revenue growth in the range of $3.0 billion to $3.1 billion, with expected EBITDA between $210 million and $225 million. The company is poised to continue its growth trajectory through strategic investments and acquisitions, leveraging its strong market position and financial flexibility to capture opportunities in favorable end markets.
