Everus Construction Group, Inc.

Listed Company

ECGCIK 0002015845NYSELarge AcceleratedOperative BuildersDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.75B

Net Income

$201.77M

Total Assets

$1.73B

Equity

$629.82M

Shares Out

51.01M

Op. Cash Flow

$156.84M

Business

Everus Construction Group, Inc. provides specialty construction contracting services across a broad range of end markets in the United States. It offers electrical, mechanical, fire protection, transmission and distribution construction, maintenance, equipment rental, design-assist and installation services, as well as manufacturing and sales of line-stringing equipment. The company operates through two reportable segments—Electrical & Mechanical (E&M) and Transmission & Distribution (T&D)—delivering services via a network of wholly owned operating companies under multiple local brands. Everus executes projects nationwide for utilities, commercial, industrial, institutional, renewables and transportation customers through competitive bids, negotiated contracts and master service agreements.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Operating revenues	3,746	2,850	2,854	2,699
Cost of sales	3,292	2,510	2,532	2,423
Gross profit	454	339	322	276
Selling, general and administrative expenses	189	150	131	111
Operating income	265	190	191	165
Interest income	5	0	0	—
Interest expense	21	14	17	6
Other income, net	10	5	4	—
Income before income taxes and income from equity method investments	258	181	178	160
Income taxes expense	72	50	45	41
Income from equity method investments	16	12	5	6
Net income	202	143	137	125
Earnings per share - basic (in dollars per share)	3.95	2.81	2.69	2.45
Earnings per share - diluted (in dollars per share)	3.95	2.81	2.69	2.45
Weighted average common shares outstanding - basic (in shares)	51	51	51	51
Weighted average common shares outstanding - diluted (in shares)	51	51	51	51

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash, cash equivalents and restricted cash	171	86	2	2	668,000
Receivables, net of allowance for credit losses of $5,282 and $7,097, respectively	770	590	—	—	—
Contract assets	256	167	206	223	—
Inventories	45	44	43	—	—
Prepayments and other current assets	55	30	18	—	—
Total current assets	1,296	917	729	—	—
Investments	27	21	8	—	—
Property, plant and equipment, net of accumulated depreciation of $174,914 and $157,278, respectively	168	134	116	—	—
Operating lease right-of-use assets	89	67	53	—	—
Goodwill	143	143	143	—	—
Other noncurrent assets	5	5	272,000	—	—
Total noncurrent assets	432	371	323	—	—
Total assets	1,729	1,288	1,052	—	—
Current portion of long-term debt	15	15	0	—	—
Accounts payable	226	138	117	—	—
Contract liabilities, net	305	207	140	124	—
Taxes payable	6	7	9	—	—
Accrued compensation	87	68	—	—	—
Accrued payroll-related liabilities	47	39	35	—	—
Current portion of operating lease liabilities	34	26	21	—	—
Other accrued liabilities	15	13	—	—	—
Total current liabilities	736	513	394	—	—
Long-Term Debt, Excluding Current Maturities	267	281	—	—	—
Deferred income taxes	15	8	7	—	—
Operating lease liabilities	57	41	33	—	—
Other noncurrent liabilities	25	22	2	—	—
Total noncurrent liabilities	363	352	210	—	—
Total liabilities	1,099	866	604	—	—
Commitments and contingent liabilities	—	—	—	—	—
Preferred stock, 10,000,000 shares authorized, $0.01 par value, none issued and outstanding	0	0	—	—	—
Common stock, 300,000,000 shares authorized, $0.01 par value, 51,006,719 and 50,980,924 shares issued and outstanding at December 31, 2025 and 2024, respectively	510,000	510,000	1,000	—	—
Other paid-in capital	144	138	136	—	—
Retained earnings	486	284	313	—	—
Total stockholders equity	630	423	449	382	363
Total liabilities and stockholders equity	1,729	1,288	1,052	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Depreciation	29	23	21	19
Amortization of intangible assets	100,000	2	2	2
Deferred income taxes	6	2	−3	1
Net credit loss expenses (reversals)	636,000	−56,000	6	186,000
Amortization of debt issuance costs	2	263,000	0	0
Stock-based compensation costs	6	2	804,000	1
Net unrealized gains on investments	−800,000	−600,000	0	0
Gain on sale of assets	−6	−7	−8	−7
Equity in earnings of unconsolidated affiliates, net of distributions	−5	−8	−5	−402,000
Receivables	−180	−140	29	−143
Due from related-party	0	12	−489,000	−296,000
Contract assets	−89	39	17	−92
Inventories	−2	−1	−6	−16
Other current assets	−25	−13	−4	−5
Accounts payable	88	14	−22	66
Due to related-party	0	−2	−3	−3
Contract liabilities, net	98	67	16	8
Other current liabilities	29	21	−7	16
Other noncurrent changes	3	11	921,000	2
Net cash provided by operating activities	157	163	171	−25
Capital expenditures	−67	−48	−36	−36
Net proceeds from sale or disposition of property, plant and equipment	10	14	16	11
Proceeds from insurance contracts	2	0	0	—
Investments	−2	−2	−596,000	−58,000
Net cash used in investing activities	−57	−37	−20	−25
Issuance of long-term debt	0	300	0	—
Proceeds under the credit facility	0	40	0	0
Repayments under the credit facility	0	−40	0	0
Payment of debt issuance costs	0	−8	0	0
Tax withholding on stock-based compensation	−588,000	0	0	—
Contribution from MDU Resources	0	14	0	0
Net amounts paid to MDU Resources cash management program	0	−169	−11	131
Transfers to CEHI, LLC and MDU Resources	0	−179	−69	−107
Net cash used in financing activities	−16	−42	−152	52
Increase (decrease) in cash, cash equivalents and restricted cash	84	84	−545,000	1
Interest paid	20	15	17	6
Income taxes paid, net	78	50	52	33
Purchases of property, plant and equipment included in accounts payable	216,000	421,000	258,000	751,000

Filings

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