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Everus Reports Second Quarter 2026 Results, Raises 2026 Guidance

ECG
  • Everus Construction Group reported Q2 2026 revenues of $1.23 billion, a 33.7% increase year-over-year.
  • Net income rose 58.9% to $83.9 million, with diluted EPS increasing 59.2% to $1.64.
  • EBITDA reached $128.6 million, up 52.7%, while the EBITDA margin expanded to 10.4%.
  • The company's backlog grew to a record $4.55 billion, up 52.8% from June 30, 2025.
  • Electrical & Mechanical (E&M) segment revenues increased 41.6% to $1.01 billion, driven by data center growth.
  • Transmission & Distribution (T&D) segment revenues grew 7.1% to $227.5 million, led by utility end markets.
  • Everus announced a definitive agreement to acquire Epsilon Industries to expand modular construction capabilities.
  • Full-year 2026 revenue guidance was raised to $4.5–$4.7 billion, with EBITDA guidance increased to $410–$425 million.
  • Operating cash flow for the first six months of 2026 was $196.8 million, resulting in free cash flow of $167.0 million.
  • Net leverage remained low at 0.3x, with $157.4 million in unrestricted cash as of June 30, 2026.
  • The SE&M Constructors acquisition contributed to revenue growth, though organic revenue increased 30.0% in Q2 2026.