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Everus Construction Group reported second-quarter 2026 revenue of $1.23 billion, up 33.7% year over year, and raised its full-year 2026 guidance in a results release dated August 4, 2026. The earnings call followed on August 5, 2026 at 11:00 a.m. EDT. Everus’s own materials list the call as “Everus Q2 Earnings Call.” Third-party pages carry transcript text for it, but none of those pages is an official company transcript. This article therefore sets out the company-reported figures, the guidance, and the structure of the call, and explains how to check any transcript wording against the company’s webcast replay before you quote it.
What Everus reported for Q2 2026
The August 4, 2026 release, titled “Everus Reports Second Quarter 2026 Results, Raises 2026 Guidance,” is the primary source for every figure below. The company describes its quarterly revenue and its net income and diluted EPS as records. Those record labels apply to the company’s own history, and the release is the document to cite for them.
| Metric | Q2 2026 | Change | Basis |
|---|---|---|---|
| Revenue | $1.23 billion | +33.7% year over year; quarterly record per company | Reported |
| Net income | $83.9 million | +58.9% year over year; quarterly record per company | Reported |
| Diluted EPS | $1.64 | +59.2% year over year; quarterly record per company | Reported |
| Gross profit | $183.0 million | +52.6% from $119.9 million in Q2 2025 | Reported |
| Gross margin | 14.9% | Up from 13.0% in Q2 2025 | Reported |
| EBITDA | $128.6 million | +52.7% year over year | Non-GAAP |
| EBITDA margin | 10.4% | Prior-year margin not stated in the release figures reviewed | Non-GAAP |
The release attributes the gross profit increase mainly to revenue growth and margin improvement tied to higher workloads, solid project execution and project timing. One quarter is not enough to call the margin a durable trend, so treat the 14.9% gross margin as a single-period result.
Reading the EBITDA figures
Everus identifies EBITDA and EBITDA margin as non-GAAP measures and states that they should not be treated as substitutes for GAAP measures. If you compare EBITDA across companies or periods, use the reconciliation in the release rather than building your own from the headline numbers.
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Segment performance: electrical and mechanical versus transmission and distribution
Growth was uneven across the two operating segments. Electrical and mechanical (E&M) work supplied most of the revenue increase, while transmission and distribution (T&D) grew at a much slower rate.
| Segment | Revenue change year over year | Other Q2 2026 figures |
|---|---|---|
| Electrical and mechanical | +$296.7 million (+41.6%) | Not stated in the release figures reviewed |
| Transmission and distribution | +$15.1 million (+7.1%) | Segment net income $19.1 million (+7.3%); segment EBITDA $32.8 million (+7.9%) |
E&M covers electrical and communication wiring and infrastructure, fire-suppression systems, and mechanical piping and services. T&D covers overhead and underground electrical, gas and communication infrastructure, both construction and maintenance, according to the company’s investor-relations overview.
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Backlog: what the $4.55 billion figure measures
Everus reported total backlog of $4.55 billion at June 30, 2026. That is up 41.0% from December 31, 2025 and up 52.8% from June 30, 2025. Backlog is work already under contract, not guaranteed future revenue, and the company’s guidance is a separate forecast.
| Backlog measure | June 30, 2025 | December 31, 2025 | June 30, 2026 |
|---|---|---|---|
| Total backlog | Dollar figure not stated; June 30, 2026 is 52.8% higher | Dollar figure not stated; June 30, 2026 is 41.0% higher | $4.55 billion |
| T&D backlog | $410.1 million | $384.5 million | $388.4 million |
T&D backlog is therefore nearly flat over the year, down 5.3% from June 30, 2025 and up 1.0% from December 31, 2025. The growth in total backlog came from the E&M side of the business.
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First-half 2026 and organic growth
For the first six months of 2026, Everus reported revenue of $2.27 billion, up 29.8% from $1.75 billion in the first half of 2025. The company said organic revenue rose 27.9% over the same period, excluding the contribution from its SE&M acquisition. “Organic” is a company-defined non-GAAP measure, so use the release’s reconciliation when you explain it. The figure covers six months, not the second quarter alone.
2026 guidance and capital plans
Management raised its full-year 2026 forecast. These are forecasts, not realized results.
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| Item | Full-year 2026 figure | Status |
|---|---|---|
| Revenue | $4.5 billion to $4.7 billion | Raised; management forecast |
| EBITDA | $410 million to $425 million | Raised; non-GAAP; management forecast |
| Gross capital expenditures | $90 million to $100 million, or 1.9% to 2.2% of forecast revenue | Still expected at this range, per the release |
| Net leverage | 0.3x at quarter end | Actual figure, not guidance |
Epsilon Industries: agreement and later completion
The Q2 release, dated August 4, 2026, described a definitive agreement to acquire Epsilon Industries, which Everus said it entered into on July 31, 2026. The company said the deal would expand its off-site modular construction and prefabrication capabilities, extend its geographic reach and strengthen its positions in key end markets. The sequence is:
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- July 31, 2026: definitive agreement to acquire Epsilon Industries signed.
- August 4, 2026: Q2 results release describes the agreement as a planned acquisition.
- August 5, 2026: results call held. The Q2 materials treat the deal as announced, not closed.
- September 1, 2026: the company’s investor-relations overview carries a notice that the acquisition was completed. This is later information and should not be presented as something management said on the call.
Management’s framing of the quarter
The release contains this statement from management:
“With our strong performance in the first half of the year and continued robust demand across our business, we are raising guidance on our full-year outlook.” (Everus Construction Group, Q2 2026 results release, August 4, 2026)
It also says: “We are confident that our commitment to our 4EVER strategic priorities position us to deliver another year of profitable growth and value for our shareholders.” Both statements are management’s characterization and outlook, not independently verified facts.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How the call was run and who spoke
Third-party transcript pages describe a call with the following sequence:
- Operator instructions and an introduction by Paul Bartolai of Vallum Advisors.
- An operating review by CEO Jeff Thiede.
- A financial update and guidance discussion by CFO Max Marcy.
- A question-and-answer session.
The transcript pages name these analysts as participants: Brent Thielman, Manish Somaiya, Brian Brophy and Joseph Osha. This article does not summarize individual exchanges. The third-party text has not been checked line by line against the audio, so do not attribute specific answers to specific analysts without confirming them on the replay.
Transcript sources and how to verify them
| Source | Date | Status | Best use |
|---|---|---|---|
| Everus Q2 2026 results release | August 4, 2026 | Company-issued | Figures, guidance, non-GAAP reconciliations, acquisition announcement |
| Form 8-K filed with the SEC, including Exhibit 99.1 | August 4, 2026 | Regulatory filing | Confirms the announcement and its date; not a transcript |
| Stock Analysis Q2 2026 transcript page | August 5, 2026 | Third-party; not an official transcript | Locating the call text and participant names |
| Benzinga complete transcript page | October 8, 2026 | Third-party; not an official transcript | Locating the call text and participant names |
| Company webcast replay | Not stated in the sources reviewed | Company-issued recording | Confirming exact wording before quoting |
To verify transcript wording:
- Open Everus’s investor-relations site and locate the Q2 2026 results event listing.
- Open the webcast replay for the August 5, 2026 call and find the passage you want to quote.
- Compare the transcript text with the audio. Quote company-release wording exactly as published.
- Take any non-GAAP figure from the release’s reconciliation, not from the transcript.
One transcript passage describes management discussing a 1.5x to 2x target operating range for leverage. That range is not among the figures in the company’s release, so confirm it on the replay before repeating it.
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