Everus Construction Group (ECG) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Everus Construction Group published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Everus bought SE&M on April 1, 2026 and Epsilon Industries on September 1, 2026, both in the E&M segment. Acquisitions contributed $43.7 million of Q3 2026 revenue; organic revenue growth was 35.8%.
• Everus was the construction services segment of MDU Resources until its spin-off on October 31, 2024.

Source: Everus Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Everus Construction Group splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Everus Construction Group's Electrical and mechanical (E&M) revenue was $1.1 billion in Q3 2026, up 48% from $767 million in Q3 2025, 82% of total revenue.
• Everus Construction Group's Transmission and distribution (T&D) revenue was $256 million in Q3 2026, up 14% from $223 million in Q3 2025, 18% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Everus Construction Group said:

“Revenues to be in the range of $5.0 billion to $5.1 billion, updated from $4.5 billion to $4.7 billion.”

“EBITDA to be in the range of $485 million to $495 million, updated from $410 million to $425 million.”

“Everus still expects gross capital expenditures to be in the range of $90 million to $100 million, representing between 1.8% to 2.0% of forecasted revenues.”

Source: Everus Q3 2026 release, Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ECG forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP operating revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Everus Construction Group's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Everus Construction Group's operating revenues rose 40.3% to $1,384.2 million in Q3 2026 from $986.8 million a year earlier. Electrical and mechanical (E&M) contracting brought in $1,135.7 million, up 48.0%, and transmission and distribution (T&D) brought in $255.6 million, up 14.4%, with $7.1 million of intersegment eliminations. Excluding 2026 acquisitions, revenue grew 35.8% to $1,340.5 million. (Everus Q3 2026 release, Nov 3, 2026)

Everus said E&M growth came mainly from the commercial and industrial end markets, particularly the data center and high-tech submarkets, partly offset by lower renewables revenue. Commercial customers accounted for $843.7 million of E&M revenue, up from $553.1 million, and industrial customers $168.9 million, up from $70.1 million, while renewables fell to $7.5 million from $19.5 million. (Everus Q3 2026 release, Nov 3, 2026; Everus Form 10-Q, Q3 2026, Nov 6, 2026)

In T&D, utility revenue rose to $237.9 million from $196.5 million, which Everus credited to the transmission, distribution and underground submarkets, while transportation revenue fell to $17.7 million from $26.9 million. Cost reimbursable contracts were the largest contract type in the quarter at $725.6 million, ahead of fixed-price contracts at $609.5 million. (Everus Q3 2026 release, Nov 3, 2026; Everus Form 10-Q, Q3 2026, Nov 6, 2026)

Everus's revenue is concentrated. A single E&M customer accounted for about 17.2% of total operating revenues in Q3 2026 and 17.9% over the first nine months. Two acquisitions added to the quarter: SE&M, bought on April 1, 2026 for initial base consideration of $158 million, and Epsilon Industries, a modular construction business bought on September 1, 2026 for $295 million. Together the 2026 acquisitions contributed $43.7 million of Q3 revenue. (Everus Form 10-Q, Q3 2026, Nov 6, 2026; Everus Q3 2026 release, Nov 3, 2026)

Everus Construction Group's diluted EPS rose 61.3% to $1.79 in Q3 2026 from $1.11, on net income of $91.9 million, up 61.2%. Everus reports no adjusted EPS. Gross margin widened to 14.8% from 12.6%, helped by project execution, project timing and a dispute resolution on prior billings that produced a $7.6 million net benefit. (Everus Q3 2026 release, Nov 3, 2026)

SG&A rose 55.8% to $80.7 million, driven by $13.4 million of higher incentive compensation, $6.7 million of acquisition-related costs and $5.7 million of higher amortization from acquisitions. Income from equity method investments fell to $2.6 million from $5.5 million and other income fell to $193 thousand from $3.7 million. The effective tax rate was 24.2%. (Everus Q3 2026 release, Nov 3, 2026; Everus Form 10-Q, Q3 2026, Nov 6, 2026)

Everus's share count barely moved: diluted weighted average shares were 51,239 thousand against 51,137 thousand a year earlier. Gross debt rose to $571.5 million from $285.0 million at the end of 2025 to fund the acquisitions, and net leverage was 0.7x against 0.4x. (Everus Q3 2026 release, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Everus Construction Group gives a full-year outlook in its release and raised it again with Q3 2026 results. It now expects 2026 revenues of $5.0 billion to $5.1 billion, up from $4.5 billion to $4.7 billion, and EBITDA of $485 million to $495 million, up from $410 million to $425 million. Gross capital expenditures are still expected at $90 million to $100 million. (Everus Q3 2026 release, Nov 3, 2026)

Everus gives no EPS outlook. It said it cannot reconcile its 2026 EBITDA guidance to net income without unreasonable efforts because the purchase price allocations for SE&M and Epsilon are not final. (Everus Q3 2026 release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Everus Construction Group, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Everus Construction Group's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ECG is on is ECG a buy or a sell?, what analysts expect next is on the ECG forecast, and what the company does is on the Everus Construction Group (ECG) stock page.

Every number on this page can be traced to a document Everus Construction Group published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.