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Sep 30, 2024
Everus Construction Group Inc Q3 2024 Earnings Report
Reported strong financial results driven by revenue growth and strategic initiatives.
Key Takeaways
Everus Construction Group reported a strong third quarter with a 6.1% increase in revenues to $761.0 million and a 16.1% increase in net income to $41.8 million. The company's EBITDA increased by 12.1% to $65.0 million, and backlog reached a record $2.88 billion. The company reiterated its full-year guidance for revenue and EBITDA.
Revenues increased by 6.1% to $761.0 million.
Net income increased by 16.1% to $41.8 million, with a net income margin of 5.5%.
EBITDA increased by 12.1% to $65.0 million, with an EBITDA margin of 8.5%.
Backlog increased to $2.88 billion, a 43.5% increase from the prior year-end.
Everus Construction Group Inc
Everus Construction Group Inc
Everus Construction Group Inc Revenue by Segment
Revenue by Segment
Electrical & Mechanical Revenue
CapyFin.comTransmission & Distribution Revenue
CapyFin.com Forward Guidance
Everus is reaffirming previously provided guidance for 2024, expecting revenue in the range of $2.65 billion to $2.85 billion and EBITDA in the range of $220 million to $240 million, with EBITDA margins expected to be higher than in 2023.
Positive Outlook
- Normal operating conditions.
- Normal economic conditions.
- Continued availability of labor.
- Continued availability of necessary equipment.
- Continued availability of materials.
Revenue & Expenses
Visualization of income flow from segment revenue to net income