Everus Construction Group Reports Record Q4 and Full-Year 2025 Results

Company Sees Robust Demand Across Multiple End Markets, Guides for Continued Growth in 2026

Published on Feb. 28, 2026

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Everus Construction Group (NYSE:ECG) reported record fourth-quarter and full-year 2025 results, with revenue exceeding $1 billion for the first time and full-year EBITDA reaching $319.8 million. The company highlighted strong execution, disciplined project selection, and favorable end-market trends as key drivers of its performance. Management provided 2026 guidance calling for revenue growth of 11% and EBITDA growth of 2% at the midpoint, reflecting continued strength in the business but moderating profitability comparisons after an exceptionally strong 2025.

Why it matters

Everus Construction Group's record results and positive outlook underscore the strength of the construction industry, particularly in sectors like data centers, transportation, and utilities. The company's diversified business model and focus on operational excellence have enabled it to capitalize on robust demand across multiple end markets. As a newly public company, Everus' performance will be closely watched as an indicator of broader trends in the construction and infrastructure space.

The details

In the fourth quarter, Everus reported revenue of $1.01 billion, up 33% year-over-year, driven by growth in both its Electrical & Mechanical (E&M) and Transmission & Distribution (T&D) segments. Quarterly EBITDA rose 45% to $84.8 million, with EBITDA margin improving to 8.4% from 7.7%. For the full year, Everus reported revenue of $3.75 billion, up 31.5%, and EBITDA of $319.8 million, a 37.7% increase. The company ended 2025 with a record backlog of $3.23 billion, up 16% from the prior year.

  • Everus reported its record fourth-quarter and full-year 2025 results on its earnings call in February 2026.
  • The company provided initial 2026 guidance, calling for revenue of $4.1 billion to $4.2 billion and EBITDA of $320 million to $335 million.

The players

Everus Construction Group

An American construction company that provides a full spectrum of services through its electrical and mechanical and transmission and distribution specialty contracting operations, primarily in the United States.

Jeff Thiede

The Chief Executive Officer of Everus Construction Group.

Max Marcy

The Chief Financial Officer of Everus Construction Group.

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What they’re saying

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What’s next

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The takeaway

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