Earnings Releases·Nov 3, 2026, 4:34 PM ET

Everus Construction Group — Third Quarter 2026 Earnings Summary

Q3 2026 revenues surged 40.3% year-over-year to $1.38 billion, while net income and diluted EPS rose 61.2% and 61.3% respectively to $91.9 million and $1.79, driven by strong organic growth and a $7.6 million benefit from prior billing dispute resolution.
Full-year 2026 guidance was raised significantly, with revenue expectations increased to $5.0–$5.1 billion and EBITDA guidance lifted to $485–$495 million, reflecting sustained momentum and a 98.9% backlog growth in the Electrical and Mechanical segment to $5.11 billion.
Strategic expansion continued with the September 1, 2026, acquisition of Epsilon Industries to enhance modular construction capabilities, contributing $77.1 million to Q3 revenues and $742.3 million to backlog, alongside a $125 million increase to the revolving credit facility.
Operating cash flow for the first nine months reached $267.3 million (up from $108.6 million), though SG&A expenses rose 55.8% to $80.7 million due to higher incentive compensation, acquisition costs, and amortization, while net leverage increased to 0.7x.