Business Wire·Feb 24, 2026, 4:30 PM ET

Everus Reports Fourth Quarter and Full-Year 2025 Results, Initiates Guidance for 2026

Everus Construction Group reported fourth quarter 2025 revenues of $1.01 billion, a 33.1% increase from the prior year period.
Full-year 2025 revenues reached $3.75 billion, representing a 31.5% growth compared to 2024.
Fourth quarter net income was $55.3 million, up 60.8%, resulting in diluted EPS of $1.08.
Full-year net income totaled $201.8 million, a 40.7% increase, with diluted EPS of $3.95.
Fourth quarter EBITDA was $84.8 million, up 45.5%, with a margin of 8.4%.
Full-year EBITDA reached $319.8 million, up 37.7%, with a margin of 8.5%.
The company ended 2025 with a backlog of $3.23 billion, an increase of 16.1% year-over-year.
Electrical and mechanical (E&M) segment revenues grew 44.0% in the fourth quarter to $791.6 million.
Transmission and distribution (T&D) segment revenues increased 6.8% in the fourth quarter to $227.7 million.
Net leverage stood at 0.4x as of December 31, 2025, down from 1.0x in the prior year.
Cash and available liquidity totaled $375.5 million at year-end 2025.
Free cash flow for 2025 was $100.0 million, down from $128.8 million in 2024 due to higher capital expenditures.
Management provided 2026 guidance forecasting revenues between $4.1 billion and $4.2 billion.
2026 EBITDA guidance is set between $320 million and $335 million.
Gross capital expenditures for 2026 are expected to range from $90 million to $100 million.