“The decrease in cash used in investing activities was primarily due to lower net capital expenditures of $3.4 million, partially offset by proceeds from insurance contracts of $2.2 million during the three months ended March 31, 2025 and decreases in cash fro…”10-Q · May 6, 2026 ↗
Everus Construction Group, Inc.
ECG
Market read
Everus Construction Group, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- Revenue increased 25.4% versus the comparable filing period.
- Six-month investing cash use included $147.6 million for the SE&M acquisition and $3.8 million of higher net capital expenditures.
- Commercial and industrial demand, especially data centers, supported growth, while institutional revenue declined because of timing and lower demand.
Invalidation: The isolated read changes if ECG's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- Revenue increased 25.4% versus the comparable filing period.
- Operating margin improved 1.3 percentage points.
- Net income increased 59.0% versus the comparable filing period.
No thresholded adverse filing evidence is available yet.
- Six-month investing cash use included $147.6 million for the SE&M acquisition and $3.8 million of higher net capital expenditures.
- Commercial and industrial demand, especially data centers, supported growth, while institutional revenue declined because of timing and lower demand.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +31.5% year over year.
- Data center and AI demand has repeated favorable evidence across 4 filings.
- Demand and volume has repeated favorable evidence across 4 filings.
No qualifying adverse evidence was identified; that is not proof there is no downside.
- P/E is 28% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 32% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
115.25Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The increase was primarily driven by higher revenues in the commercial and renewables end markets, particularly continued growth in the data center submarket, partially offset by decreased revenues in the institutional, industrial and service & other end mark…”10-Q · May 6, 2026 ↗
“Service & other revenues were lower by $1.8 million due to decreased repair and maintenance demand.”10-Q · May 6, 2026 ↗
“The increase primarily related to average higher debt balances under the Term Loan (as defined below) during the year ended December 31, 2025, compared to the average debt balances from the related-party cash management program for working capital needs durin…”10-K · Feb 25, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.6× · EV/sales 1.6×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for ECG. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-05-06 against the comparable filing from 2025-05-15.
What improved
- Revenue increased 25.4% versus the comparable filing period.
- Operating margin improved 1.3 percentage points.
- Net income increased 59.0% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“The increase was the result of higher gross profit due to T&D segment revenue growth and efficient project execution, particularly within the utility end market, with T&D gross margin expansion of 14.7% for the three months ended March 31, 2026, compared to 12.7% for the three months ended March 31, 2025.”
“The increase was primarily driven by E&M segment revenue growth and higher gross profit in the commercial and renewables end markets, due to solid project execution and project timing, partially offset by changes in project mix and lower gross profit within the industrial end market.”
“The increase in cash provided by operating activities was primarily driven by favorable changes in operating assets and liabilities to support company growth, including revenue growth, and increased operating results.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind ECG
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
MDUMDU Resources Group, Inc.partnerNov 5, 2025 ▾
“The Separation and Distribution was completed pursuant to a separation and distribution agreement as well as other agreements with MDU Resources, including, but not limited to, a transition services agreement, a tax matters agreement and an employee matters a…”
MDUMDU Resources Group, Inc.lenderNov 5, 2025 ▾
“Centennial repaid all of its outstanding debt in the second quarter of 2023, and subsequently MDU Resources supported the Company’s borrowing needs through Centennial.”
Depended on by
CTRICenturi Holdings, Inc.competitorFeb 26, 2026 ▾
“These competitors include Quanta Services, Inc., MYR Group, Mastec, Inc., Primoris Services Corporation and Everus Construction Group, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
ECG is currently a Participant in the organic co-movement group Industrial-Tech Mix. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for ECG; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.