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Earnings analysis · 10-Q

ECG earnings analysis

Filed May 6, 2026 · Our reading of the company's report

The latest report

Everus Construction Group (ECG) delivered strong Q1 2026 results with revenues of $1.04 billion, exceeding expectations by 13.2%, and a notable EPS of $1.14, beating estimates by 37.3%. The company also raised its…

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Everus Construction Group (ECG) delivered strong Q1 2026 results with revenues of $1.04 billion, exceeding expectations by 13.2%, and a notable EPS of $1.14, beating estimates by 37.3%. The company also raised its full-year revenue and EBITDA guidance reflecting robust growth driven by significant project demand, particularly in the data center and renewables markets.

Read the original on SEC.gov

Gross and operating margin

How much of each revenue dollar the business keeps.

13% Gross margin Operating margin May 2025 May 2026

One point per quarterly or annual filing. Both margins are shares of that report's revenue.

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $87 Operating expenses $5 Left as operating profit $8

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

How we read each report

Our analysis across the last few reports.

Read as bullish Read as bearish May 2025 May 2026

Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.

Reported figures

Earnings per share
$1.14
Segment
E&M
Segment
T&D

What stood out

  • Revenue Surge

    Total revenue increased 25.4% YoY to $1.04 billion, up from $826.6 million.

  • Record EPS

    Diluted EPS rose 58.9% YoY to $1.14, compared to $0.72 in the prior year.

  • Strong Gross Margin Improvement

    Gross margin improved to 12.6%, up from 11.2% a year ago.

  • Operating Income Boost

    Operating income increased by 52.4% YoY to $77.7 million.

  • Cash Flow Turnaround

    Operating cash flow increased to $143.7 million, from $7.1 million last year.

  • Increased Guidance

    Raised 2026 revenue guidance from $4.1-$4.2 billion to $4.3-$4.4 billion.

What to watch

  • Rising Operating Expenses

    SG&A expenses surged 27.7% YoY to $53.0 million, impacting margins.

  • Labor Market Pressures

    Labor costs increased significantly due to expanded workloads, potentially affecting margins.

  • Market Volatility Risks

    Economic fluctuations and potential geopolitical tensions may impact future project demand.

Management's outlook

2026 revenue guidance raised to $4.3B-$4.4B from $4.1B-$4.2B.

Earlier filings 3

10-K · February 25, 2026

Everus (ECG) recorded material scale-up in 2025 with operating revenues of $3.75 billion (2025) versus $2.85 billion (2024) and expanded its national footprint and workforce (≈10,000 peak employees in 2025). The…

10-Q · August 13, 2025

Everus reported a strong Q2 with operating revenues of $921,466,000 (up $218,093,000, +31.0% vs Q2 2024) and diluted EPS of $1.03 (up $0.27 vs $0.76 in Q2 2024). Gross profit increased to $119,869,000 and gross margin…

10-Q · May 15, 2025

Everus reported a strong Q1 with operating revenues of $826,629,000 (Q1 2024: $625,689,000), a 32.1% year-over-year increase, and diluted EPS of $0.72 (Q1 2024: $0.55). Gross profit rose to $92,493,000 while gross…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.