Everus Reports Record Q1 Results, Significantly Raises 2026 Guidance, and Achieves Record Backlog
Summary
Everus Construction Group reported record first-quarter revenues, net income, and EPS, while also raising its full-year 2026 guidance and achieving a record backlog, signaling strong operational momentum and strategic expansion.
Key Events
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Record First Quarter Performance
Revenues of $1.04 billion (up 25.4%), net income of $58.3 million (up 58.9%), and diluted EPS of $1.14 (up 58.3%) were all quarterly records.
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Raised Full-Year 2026 Guidance
Revenue guidance increased to $4.3-$4.4 billion (from $4.1-$4.2 billion) and EBITDA guidance to $345-$360 million (from $320-$335 million).
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Record Backlog Growth
Backlog reached a record $3.68 billion, up 14.0% from December 31, 2025, and 20.4% year-over-year, reversing previous concerns about declining backlog.
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Strategic Acquisition Completed
The company completed the acquisition of SE&M Constructors for $158 million on April 2, expanding its geographic footprint and expertise.
Analysis
Everus Construction Group delivered an exceptionally strong first quarter, exceeding expectations across key financial metrics and significantly boosting its full-year outlook. The record backlog growth is particularly impactful, directly addressing concerns raised in the previous 10-K about declining future work. This robust performance, coupled with a strategic acquisition and strong cash generation, provides a solid foundation for continued growth and reinforces investor confidence, especially as the stock trades near its 52-week high. Investors should monitor the integration of the SE&M acquisition and the company's ability to sustain this growth momentum.
At the time of this filing, ECG was trading at $171.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $8.6B. The 52-week trading range was $43.86 to $169.85. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.