Everus Reports Third Quarter 2026 Results, Raises 2026 Guidance

What happened

Everus Construction Group reported third-quarter 2026 revenue of $1.38 billion, net income of $91.9 million and diluted earnings per share of $1.79, all quarterly records. Revenue rose 40.3% from a year earlier. Backlog, or contracted work not yet completed, reached $5.48 billion, and Everus raised its 2026 guidance.

Confirmed

Global impact / market context

Record revenue and earnings, together with a larger backlog, indicate that Everus is converting strong demand into completed work while adding future contracted projects. If execution continues, that work can support future revenue; delays or rising delivery costs could limit how much of it becomes profit.

Analyst inference

Management attributed growth to demand and execution, reporting 36% organic revenue growth from electrical and mechanical work and transmission and distribution. The company also completed its Epsilon Industries acquisition on Sept. 1, 2026, so reported growth includes both underlying business expansion and acquired operations.

Confirmed

What to watch

1. Check whether Everus delivers the raised 2026 guidance, since results below that outlook could weaken expectations for revenue and earnings despite the record quarter. Analyst inference
2. Watch backlog conversion, meaning how quickly contracted projects become completed revenue, and whether the $5.48 billion backlog continues to grow or begins to shrink. Analyst inference
3. Track operating costs and profit per sale as projects progress; the reported third-quarter net income margin was 6.6%, while EBITDA margin was 10.1%. Confirmed

Evidence

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