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Dec 31, 2024
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%.
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 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