Everus Construction Group reported strong second-quarter 2025 financial results on August 12, 2025, with revenues increasing 31.0% to $921.5 million compared to $703.3 million in Q2 2024. The Electrical and Mechanical (E&M) segment led this growth, with revenues up 41.6% to $713.6 million, primarily driven by data center work.
Net income for the quarter rose 35.4% to $52.8 million, or $1.03 diluted EPS, compared to $39.0 million, or $0.76 diluted EPS, in the prior-year period. EBITDA increased 35.6% to $84.2 million, with the EBITDA margin expanding to 9.1% from 8.8% in Q2 2024.
The company's backlog stood at $3.0 billion as of June 30, 2025, up 23.9% year-over-year. Based on its strong first-half performance, Everus raised its full-year 2025 guidance, now expecting revenues between $3.3 billion and $3.4 billion (up from $3.0 billion to $3.1 billion) and EBITDA between $240 million and $255 million (up from $210 million to $225 million). Net leverage improved to 0.8x as of June 30, 2025, from 1.0x at year-end 2024, and free cash flow for the six months ended June 30, 2025, was positive $6.5 million, compared to negative $7.4 million in the prior-year period.
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