| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 1.0K | 25.4% |
| Total Income | 1.0K | 25.4% |
| Expenditure | 959.27 | 23.7% |
| PBT | 75.94 | 62.1% |
| Net Profit | 58.32 | 59.0% |
| OPM | 7.49% | 1.32pp |
| NPM | 5.62% | 1.19pp |
| EPS | 1.14 | 58.3% |
Everus Reports Record Q1 2026 Results, Raises Full-Year Guidance
06 May 2026 · 6 May, 2:11 am
Summary
Everus Construction Group reported a strong start to 2026, achieving record first quarter revenues of $1.04 billion, a 25.4% increase year-over-year. Net income also saw a substantial rise of 58.9% to $58.3 million, with diluted earnings per share reaching a record $1.14. The company's EBITDA grew by 43.9% to $88.9 million, reflecting improved operational efficiency and an EBITDA margin of 8.6%. Bolstered by these results and the recent acquisition of SE&M Constructors, management raised its full-year 2026 guidance for both revenues and EBITDA, expressing confidence in continued growth and strategic objectives.
Key Highlights
- 1
Everus Construction Group reported record first quarter 2026 revenues of $1.04 billion, marking a significant 25.4% increase compared to the prior-year period.
- 2
Net income for Q1 2026 surged by 58.9% to a record $58.3 million, with diluted earnings per share also reaching a record $1.14, up 58.3%.
- 3
EBITDA grew by 43.9% to $88.9 million, resulting in an improved EBITDA margin of 8.6% for the first quarter.
- 4
The company achieved a record backlog of $3.68 billion as of March 31, 2026, representing a 20.4% increase year-over-year.
- 5
Operating cash flows dramatically increased to $143.7 million in Q1 2026, compared to $7.1 million in the prior-year period, contributing to free cash flow of $131.9 million.
- 6
Following strong Q1 results and the acquisition of SE&M Constructors, Everus raised its full-year 2026 revenue guidance to a range of $4.3 billion to $4.4 billion and EBITDA guidance to $345 million to $360 million.
Management Comments
Jeffrey S. Thiede
We are very pleased with our strong start to the year, highlighted by another quarter of record revenues, disciplined execution and continued momentum across our key end markets. First quarter revenues increased 25%, driven by growth across both E&M and T&D. Our EBITDA increased 44% as the strong execution we delivered during 2025 carried into this year, reflecting the ongoing focus, dedication and hard work of our team. We also generated another quarter of record backlog, further evidence of our deep customer relationships, successful track record and strong market tailwinds. Our backlog at quarter-end was $3.7 billion, an increase of 20% year-over-year. While we expect backlog will continue to be lumpy, we are very encouraged by the strength in our business and remain confident in our ability to grow. We are excited to have completed our first acquisition as a stand-alone public company. SE&M Constructors expands our geographic footprint in the attractive Southeast region, deepens our expertise in key end markets and increases our customer base, while adding a talented, experienced management team. Following the transaction, our pro forma net leverage as of April 2 was approximately 0.5x, providing ample financial flexibility to continue pursuing our strategic growth initiatives that prioritize investment in organic opportunities and acquisitions aligned with our long-term objectives. Based on our strong first quarter results and the acquisition of SE&M, which closed in the second quarter, we are raising our 2026 guidance. We now expect revenues to be in the range of $4.3 billion to $4.4 billion and EBITDA to be in the range of $345 million to $360 million. We remain committed to our 4EVER strategic priorities and are confident in our ability to deliver on our long-term financial goals.
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