Everus Construction Group Inc Q3 2024 Earnings Report
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
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