Everus Construction Group, Inc.ECG

Everus Construction Group, Inc. Earnings Per Share Disclosure

10-KFiled Feb 25, 20262 min read
Earnings Per Share
Prior to the Separation, Everus Construction had 1,000 common shares issued and outstanding. On October 31, 2024, as part of the Distribution, 50,972,059 shares of Everus common stock were issued and outstanding. Basic and diluted EPS for periods prior to the Separation and Distribution have been retrospectively adjusted to incorporate the Everus shares outstanding on the Distribution date. For comparative purposes, and to provide meaningful insight into the weighted average common
shares calculation, the Distribution date share count was assumed to be outstanding throughout periods prior to the Separation and Distribution in the calculation of basic weighted average common shares outstanding. In addition, for periods prior to the Separation and Distribution, it was assumed that there were no dilutive or anti-dilutive equity instruments as there were no Everus stock-based awards outstanding during those periods.
Basic EPS is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the applicable period. The Company calculates diluted EPS using the treasury stock method. Diluted EPS is calculated by dividing net income by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of any potentially dilutive securities, except in cases where the effect of such securities would be anti-dilutive.
Basic and diluted EPS were calculated as follows, based on a reconciliation of the weighted average common shares outstanding on a basic and diluted basis:
Year ended December 31,
202520242023
(In thousands, except per share amounts)
Net income
$201,770 $143,421 $137,230 
Weighted average common shares outstanding - basic
51,04550,97350,972
Effect of dilutive securities - share-based awards
78990
Weighted average common shares outstanding - diluted
51,12351,07250,972
EPS - basic
$3.95 $2.81 $2.69 
EPS - diluted
$3.95 $2.81 $2.69 
For the years ended December 31, 2025, 2024 and 2023, there were no shares excluded from the calculation of diluted EPS due to their anti-dilutive effect.

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 28, 2025

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

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