Everus Construction Group Inc Q4 2024 Earnings Report

Key Takeaways

Everus Construction Group reported strong Q4 2024 results with revenue increasing 19.5% year-over-year to $759.7 million. Net income declined to $34.4 million, impacted by higher SG&A and interest expenses following the company’s spinoff. Adjusted EBITDA was $58.3 million, with a margin of 7.7%. Segment growth was led by Electrical & Mechanical (E&M), which grew 20.9%, and Transmission & Distribution (T&D), which increased 15.2%.

Total Revenue

$760M

EPS

$0.67

EBITDA

$58.3M

EBITDA Margin

7.7%

Net Income Margin

4.5%

Gross Profit

$86.3M

Cash and Equivalents

$69.9M

Free Cash Flow

$129M

Total Assets

$1.29B

Everus Construction Group Inc Revenue

Everus Construction Group Inc EPS

Everus Construction Group Inc Revenue by Segment

Forward Guidance

Everus expects FY 2025 revenue between $3.0 billion and $3.1 billion, with EBITDA projected in the range of $210 million to $225 million. EBITDA margin is expected to decline due to public company stand-up costs and project mix changes.

Positive Outlook

Strong revenue guidance of $3.0B to $3.1B, signaling continued growth.
Robust backlog of $2.8B, up 38.3% year-over-year, supporting future revenue.
Strategic focus on organic growth and acquisitions to enhance market position.
Increased capital expenditure plan of $65M-$70M for operational expansion.
Well-positioned for long-term financial stability post-spinoff.

Challenges Ahead

EBITDA margin expected to decline due to higher operating costs.
Increased SG&A expenses from standalone public company operations.
Potential project timing delays could affect near-term profitability.
Macroeconomic uncertainties may impact construction demand.
Higher interest expenses due to leveraged capital structure.

Revenue & Expenses

Visualization of income flow from segment revenue to net income