Everus Reports Strong Third Quarter 2024 Results
Everus Construction Group, Inc. (ECG)
Company Research
Source: Business Wire
BISMARCK, N.D.--(BUSINESS WIRE)--Everus Construction Group (NYSE: ECG) today reported financial results for the quarter ended Sept. 30, 2024.Third Quarter 2024 Summary(all comparisons versus the prior-year period unless otherwise noted)Revenues of $761.0 million, +6.1%.Net income of $41.8 million, +16.1%; net income margin of 5.5%, +50 basis points.Earnings of 82 cents per share, +15.5%.Earnings before interest, taxes, depreciation and amortization (EBITDA) of $65.0 million, +12.1%; EBITDA margin of 8.5%, +40 basis points.Backlog of $2.88 billion, +43.5% from prior year-end.Reiterated 2024 full-year guidance.Completed spinoff from MDU Resources Group, Inc. on Oct. 31, 2024.Management Commentary“This has been a transformative period in our company’s evolution, highlighted by our successful tax-free spinoff from MDU Resources on Oct. 31,” said Jeffrey S. Thiede, president and CEO of Everus. “I want to thank our team members for their continued efforts and dedication that enabled us
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News
- Everus (NYSE: ECG) had its price target raised by analysts at Stifel Nicolaus from $71.00 to $78.00. They now have a "buy" rating on the stock.MarketBeat
- Everus (NYSE: ECG) is now covered by analysts at Oppenheimer Holdings Inc.. They set an "outperform" rating and a $70.00 price target on the stock.MarketBeat
- Everus (NYSE: ECG) is now covered by analysts at Wolfe Research. They set a "peer perform" rating on the stock.MarketBeat
- Everus to Participate in Wolfe Research Small and Mid-Cap Conference [Yahoo! Finance]Yahoo! Finance
- Everus to Participate in Wolfe Research Small and Mid-Cap ConferenceBusiness Wire
ECG
Sec Filings
- 12/6/24 - Form SC
- 12/6/24 - Form SC
- 11/22/24 - Form 8-K
- ECG's page on the SEC website