Shares of Everus Construction Group, Inc. (ECG) surged 7.93% in intraday trading on Tuesday, following the release of impressive second-quarter financial results and an upward revision of the company's full-year guidance.
The construction giant reported a 31% year-over-year increase in Q2 revenues, reaching $921.5 million. Net income saw an even more substantial rise of 35.4%, totaling $52.8 million, with earnings per share jumping 35.5% to $1.03. The company's EBITDA also showed robust growth, increasing by 35.6% to $84.2 million.
Investors were particularly encouraged by Everus's raised outlook for 2025. The company now expects full-year revenues to range between $3.3 billion and $3.4 billion, with EBITDA projected to be between $240 million and $255 million. This positive guidance, coupled with a reported backlog of $3.0 billion (up 23.9% from the previous year), signals strong future growth potential. The market's enthusiastic response to these results and projections is reflected in today's significant stock price appreciation.
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