Everus Construction Group reported record third-quarter 2026 results, with revenue, net income, diluted earnings per share and EBITDA all reaching quarterly highs. The electrical and transmission-and-distribution contractor also raised its full-year revenue and EBITDA outlook, citing continued business momentum and strong demand.
The results include the contribution from Epsilon Industries, which Everus acquired on Sept. 1. Management said growth was also broad-based across its electrical and transmission-and-distribution businesses.
Key details
- Revenue rose 40.3% to $1.38 billion, from $986.8 million a year earlier. Management said organic growth was 36%, with both the electrical and transmission-and-distribution businesses contributing.
- Net income climbed 61.2% to a record $91.9 million. Net income margin was 6.6%.
- Diluted earnings per share increased 61.3% to a record $1.79.
- EBITDA rose 57.5% to a record $140.2 million. EBITDA margin reached 10.1%, up 1.1 percentage points from the prior-year quarter.
- Backlog reached a record $5.48 billion, up 86.1% from Sept. 30, 2025, and 69.8% from Dec. 31, 2025.
- Everus ended the quarter with net leverage of 0.7 times.
- The company raised its 2026 outlook to revenue of $5.0 billion to $5.1 billion and EBITDA of $485 million to $495 million. The prior guidance ranges were not included in the results announcement.
- Epsilon Industries expands Everus’s modular construction and prefabrication capabilities. Everus said integration is progressing as planned and that it is working to extend modular construction across its operations.
- Management cited opportunities in data centers, high technology and hospitality among the markets supporting demand and backlog growth.
- Everus said its capital allocation priorities include organic investment and strategic acquisitions intended to expand its geographic reach, diversify its offerings and deepen its service capabilities.
Plain-English implications
Everus’s higher outlook follows a quarter of strong growth in revenue, earnings and backlog. The completed Epsilon acquisition adds modular and prefabrication capabilities, while the company’s reported 0.7-times net leverage indicates it ended the quarter with financial flexibility to pursue its stated growth priorities.