Overview

• US specialty contractor's Q1 revenue rose 25.4%, beating analyst expectations

• Diluted EPS for Q1 rose 58.3% to $1.14, driven by higher gross profit

• Company raised 2026 revenue and EBITDA guidance after SE&M Constructors acquisition

Outlook

• Everus raises 2026 revenue guidance to $4.3 bln-$4.4 bln from $4.1 bln-$4.2 bln

• Company lifts 2026 EBITDA forecast to $345 mln-$360 mln from $320 mln-$335 mln

• Everus expects gross capital expenditures for 2026 at $90 mln-$100 mln, unchanged

Result Drivers

• E&M SEGMENT GROWTH - Higher workloads in the commercial market, especially data centers, drove E&M revenue growth, partially offset by lower institutional and industrial demand

• T&D SEGMENT DEMAND - Increased utility workloads, especially in transmission and storm submarkets, supported T&D revenue growth

• GROSS MARGIN IMPROVEMENT - Gross margin rose due to increased workloads, project timing and solid project execution

Company press release: ID:nBwPVRBsa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction & engineering peer group is "buy"

• Wall Street's median 12-month price target for Everus Construction Group Inc is $138.00, about 8.6% below its May 4 closing price of $150.93

• The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 23 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.