Everus Reports Record Q1 Results, Significantly Raises 2026 Guidance, and Achieves Record Backlog
ECG has more than doubled off its 52-week low of $43.86 on elevated volume (3.2× avg).
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 · Earnings and Guidance · ECG
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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 · ECG · Real Estate & Construction
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.