Everus Construction Group (NYSE – ECG) Reports Strong Q1 2025 Results

By Tamara Parker • Wednesday, May 14 06:02 • Permanent Link

Everus Construction Group (NYSE: ECG) has reported its financial results for the first quarter of 2025, showcasing significant growth in various key metrics compared to the prior-year period.

In the first quarter of 2025, Everus reported revenues of $826.6 million, marking a substantial increase of 32.1% from the first quarter of 2024. The company's net income also saw a notable uptick, reaching $36.7 million, up 30.1% from the prior-year period. The diluted earnings per share stood at 72 cents, reflecting a 30.9% increase.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $61.8 million, marking a 31.8% increase, with an EBITDA margin of 7.5%. The company's backlog as of March 31, 2025, stood at $3.1 billion, exhibiting a 10.0% increase from December 31, 2024, and a remarkable 40.5% surge from March 31, 2024.

The Electrical and Mechanical (E&M) segment witnessed significant growth, with revenues up by 47.0% to $648.2 million in the first quarter of 2025 compared to the same period in 2024. The E&M segment's net income also surged to $36.6 million, up from $23.0 million in the first quarter of 2024.

On the other hand, the Transmission and Distribution (T&D) segment reported revenues of $185.0 million, slightly down from $188.5 million in the first quarter of 2024. However, the T&D segment's net income increased to $10.5 million, compared to $10.2 million in the prior-year period.

In terms of the balance sheet and cash flow, Everus had $54.3 million of unrestricted cash and cash equivalents as of March 31, 2025, with a gross debt of $296.2 million. The company's net leverage remained at 1.0x as of both March 31, 2025, and December 31, 2024.

Looking ahead, Everus has affirmed its estimated full-year guidance for 2025, expecting revenues to be in the range of $3.0 billion to $3.1 billion, and EBITDA to be in the range of $210 million to $225 million.

These results reflect Everus Construction Group's robust performance and its optimistic outlook for the future. Today the company's shares have moved 4.53% to a price of $50.10. Check out the company's full 8-K submission here.

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