Welcome to our dedicated page for Everus Constr Group news (Ticker: ECG), a resource for investors and traders seeking the latest updates and insights on Everus Constr Group stock.
Everus Construction Group reports developments tied to its U.S. specialty contracting platform, including electrical and mechanical services and transmission and distribution work. The company serves commercial, industrial, institutional, renewables, service, transportation, utility and other customers through operating companies that perform construction, maintenance and related infrastructure services.
Recurring news themes include quarterly results, guidance, backlog trends, segment performance, project execution, investor events, leadership appointments and acquisition activity. Updates also cover service lines such as electrical and communication wiring, fire suppression systems, mechanical piping, overhead and underground electric, gas and communication infrastructure, and transmission line construction equipment.
Everus Construction Group (NYSE: ECG) reported strong Q4 and full-year 2024 results. Q4 revenues increased 19.5% to $759.7M, with net income of $34.4M and EPS of 67 cents. Full-year 2024 revenues remained stable at $2.85B, while net income grew 4.5% to $143.4M with EPS of $2.81.
The company completed its spinoff from MDU Resources Group on Oct. 31, 2024. Year-end backlog increased significantly by 38.3% to $2.8B. EBITDA for 2024 rose 4.3% to $232.2M with an improved margin of 8.1%.
Looking ahead to 2025, Everus provided guidance projecting revenues between $3.0B-$3.1B and EBITDA of $210M-$225M. The company maintains a strong financial position with $69.9M in cash and a net leverage ratio of 1.0x as of December 31, 2024.
Everus Construction Group (NYSE: ECG) has announced it will release its fourth quarter and full-year 2024 financial results after market close on February 11, 2024. The company will host a webcast on February 12 at 10:30 a.m. EST to discuss the results and recent events, including a Q&A session.
Investors can access the webcast through the company's website under the 'Events & Presentations' tab at investors.everus.com. Participants are advised to register 15 minutes before the start time. The webcast will also be accessible via phone, with both toll-free and international dial-in options available. A replay will be made available on the company's website after the event.
Everus Construction Group (NYSE: ECG) announced its participation in the upcoming Wolfe Research Small and Mid-Cap Conference, a virtual event scheduled for December 5. President and CEO Jeffrey S. Thiede and CFO Maximillian J Marcy will represent the company and conduct one-on-one meetings with registered investors. Interested parties can obtain attendance information through Wolfe Research sales representatives.
Everus Construction Group (NYSE: ECG) reported strong Q3 2024 financial results with revenues of $761.0 million, up 6.1% year-over-year. Net income increased 16.1% to $41.8 million, with earnings per share of 82 cents, up 15.5%. EBITDA grew 12.1% to $65.0 million. The company's backlog reached a record $2.88 billion, up 43.5% from prior year-end. Everus completed its spinoff from MDU Resources Group on Oct. 31, 2024, and reiterated its 2024 guidance with expected revenues of $2.65-2.85 billion and EBITDA of $220-240 million.
Everus Construction Group (NYSE: ECG) has scheduled its third quarter 2024 earnings release for November 6, 2024, after market close. The company will host a webcast on November 7, 2024, at 8:30 a.m. EST to discuss financial results and recent events, followed by a Q&A session. The webcast will be accessible through the company's investor relations website, with presentation materials available under the 'Events & Presentations' tab. Participants can join via web or phone, with both toll-free and international dial-in options available.
MDU Resources Group has completed the spinoff of its construction services subsidiary, Everus Construction Group, which is now trading independently on NYSE under ticker 'ECG'. The separation was executed through a pro rata distribution where MDU shareholders received one share of Everus stock for every four MDU shares held as of October 21, 2024. The distribution is expected to be tax-free for U.S. federal income tax purposes. This strategic move positions MDU Resources as a pure-play regulated energy delivery business, following the previous spinoff of Knife River
Everus Construction Group (NYSE: ECG) has completed its spinoff from MDU Resources Group (NYSE: MDU) and commenced trading on the NYSE. The separation was executed through a pro rata distribution where MDU stockholders received one share of ECG common stock for every four MDU shares held on October 21. Jeffrey S. Thiede, president and CEO, emphasized the company's position as a major specialty construction services provider, focusing on data center growth, grid modernization, and high-tech reshoring. The company aims to implement its 4EVER strategy and disciplined capital allocation initiatives as a standalone entity to drive profitable growth.
Everus Construction Group (ECG) will be added to the S&P SmallCap 600 effective prior to the open on November 1, 2024, replacing Clearwater Paper (CLW), which will be removed prior to the open on November 4, 2024.
MDU Resources is spinning off Everus on November 1; MDU will remain in the index but change its GICS sector from Industrials to Utilities. The table summarizes the index additions and deletions with dates and sectors.
MDU Resources Group, Inc. (NYSE: MDU) has announced that its construction services subsidiary, Everus Construction Group, will be listed on the NYSE under the ticker symbol ECG following its planned spinoff in late 2024. The company has filed a Form 10 registration statement with the SEC. MDU stockholders will receive one share of ECG for every four shares of MDU stock held, with fractional shares sold and proceeds distributed in cash. The spinoff is expected to be tax-free for U.S. federal income tax purposes.
Everus will hold an Investor Day on October 17, 2024, at the NYSE to present investment highlights, operations, financial performance, and growth prospects. The event will be webcast. This move is part of MDU Resources' strategy to become a pure-play regulated energy delivery business, providing stockholders with two distinct investment opportunities.