NEW YORK, May 20, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Everus Construction Group, Inc. ("Everus Construction " or the "Company") (NYSE: ECG) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Everus Construction investors who were adversely affected by alleged securities fraud between October 31, 2024 and February 11, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/ps ...

Core Viewpoint - Everus Construction Group, Inc. is facing a class action lawsuit due to alleged misleading statements regarding its financial performance and project backlog during the Class Period from October 31, 2024, to February 11, 2025 [1][4]. Company Overview - Everus Construction, previously known as MDU Construction Services Group, Inc., was a wholly owned subsidiary of CEHI, LLC, which is itself a subsidiary of MDU Resources Group, Inc. [3]. Legal Action - The class action lawsuit claims that Everus Construction made materially false and misleading statements, particularly regarding the lengthening of its backlog conversion cycle and the impact of larger, more complex projects on revenue recognition [4]. Financial Performance - On February 11, 2025, Everus Construction reported a backlog of $2.8 billion and projected revenue between $3.0 billion and $3.1 billion, with EBITDA expected to be between $210 million and $225 million for the year [5]. - Following the financial results announcement, Everus Construction's stock price dropped nearly 28% over the next two trading sessions [5].

NEW YORK, May 16, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Everus Construction Group, Inc. ("Everus Construction " or the "Company") (NYSE: ECG) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Everus Construction investors who were adversely affected by alleged securities fraud between October 31, 2024 and February 11, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk. ...

NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Everus Construction Group, Inc. (NYSE: ECG). Shareholders who purchased shares of ECG during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/everus-construction-group-inc-loss-submission-form/?id=148454&from=3 CL ...

Financial Performance - Operating revenues for Q1 2025 were $826.6 million, a 32.1% increase from $625.7 million in Q1 2024[194] - E&M revenues grew by $207.2 million, or 47.0%, driven by increased activity in data centers and hospitality, while T&D revenues decreased by $3.5 million, or 1.9%[195][196] - Gross profit for Q1 2025 was $92.5 million, reflecting a 23.8% increase from $74.7 million in Q1 2024[194] - Operating income for Q1 2025 reached $51.0 million, a 31.1% increase compared to $38.9 million in Q1 2024[194] - Net income for Q1 2025 was $36.7 million, representing a 30.1% increase from $28.2 million in Q1 2024[194] - Gross profit for Q1 2025 was $92.5 million, a 23.8% increase from $74.7 million in Q1 2024, with a gross profit margin of 11.2% compared to 11.9% in Q1 2024[199] - Operating income for Q1 2025 was $51.0 million, up 31.1% from $38.9 million in Q1 2024, maintaining an operating income margin of 6.2%[201] - Net income increased to $36.7 million, a 30.1% rise from $28.2 million in Q1 2024, with a net income margin of 4.4% compared to 4.5% in Q1 2024[207] - EBITDA for Q1 2025 was $61.8 million, compared to $46.9 million in Q1 2024, with an EBITDA margin of 7.5%[224] Costs and Expenses - Cost of sales for Q1 2025 was $734.1 million, up 33.2% from $551.0 million in Q1 2024, primarily due to higher operating costs from increased E&M workloads[198] - Selling, general and administrative expenses rose to $41.5 million, a 15.9% increase from $35.8 million in Q1 2024, driven by higher labor and professional service-related expenses[200] - Interest expense, net for Q1 2025 was $4.7 million, a 74.1% increase from $2.7 million in Q1 2024, due to higher average debt balances[202] - Income taxes for Q1 2025 were $13.6 million, a 36.0% increase from $10.0 million in Q1 2024, with an effective tax rate of 27.0% compared to 26.1% in Q1 2024[205] Market and Strategic Outlook - The company anticipates continued strong project opportunities in specialty contracting markets, particularly in data centers and utility infrastructure investments[182] - The company is focused on managing costs and generating cash to increase operating income despite rising insurance costs[178] - The U.S. construction services industry remains highly fragmented, with competition influenced by technical expertise and service pricing[179] - The company is well-positioned to benefit from favorable demand drivers, including high-tech reshoring and utility infrastructure investments, as evidenced by a strong backlog of projects[182] Separation and Corporate Structure - The company completed its separation from MDU Resources on October 31, 2024, becoming an independent publicly traded entity[185] - The Separation and Distribution of Everus Construction from MDU Resources was completed on October 31, 2024, with 50,972,059 shares of Everus common stock distributed to MDU Resources stockholders[184][185] Cash Flow and Capital Expenditures - Free cash flow for Q1 2025 was $(8.1) million, a decrease from $15.4 million in Q1 2024[227] - Cash provided by operating activities decreased to $7.1 million in Q1 2025 from $21.9 million in Q1 2024, a decline of 67.5%[241] - Capital expenditures for Q1 2025 were $18.5 million, compared to $9.2 million in Q1 2024, an increase of 101.1%[237] - Working capital increased to $425.0 million as of March 31, 2025, from $403.9 million as of December 31, 2024[236] - As of March 31, 2025, the company had $74.0 million in cash, cash equivalents, and restricted cash, down from $86.0 million at the end of 2024[228] - The company expects full-year 2025 gross capital expenditures to be in the range of $65.0 million to $70.0 million[238] Backlog and Investments - Backlog as of March 31, 2025, was $2,546.7 million, down from $3,057.5 million as of December 31, 2024, reflecting fluctuations in contract awards[216] - Income from equity method investments increased to $3.4 million, a rise of $2.3 million from $1.1 million in Q1 2024, attributed to joint venture activity[206] - Surety bonds outstanding for projects totaled approximately $2.07 billion as of March 31, 2025, with a potential maximum payment of $758.8 million[247] - The company has guaranteed obligations of subsidiaries totaling $616.2 million as of March 31, 2025[249]

Financial Data and Key Metrics Changes - The company's Q1 2025 revenue increased by 32% to $826.6 million compared to the same period last year, driven by a 47% increase in Electrical and Mechanical (E and M) revenue, partially offset by a 2% decline in Transmission and Distribution (T and D) revenue [20][21] - Total EBITDA for Q1 2025 was $61.8 million, also up 32% year-over-year, with an EBITDA margin of 7.5%, consistent with the prior year [20][21] - The total backlog at the end of Q1 2025 was $3.1 billion, up 10% from the end of 2024 and up 41% from the same period last year [21][10] Business Line Data and Key Metrics Changes - E and M segment revenue increased by 47% to $648.2 million, with EBITDA rising by 51% to $49.5 million, resulting in an EBITDA margin of 7.6%, up 20 basis points from last year [22][23] - T and D segment revenue was $185 million, down from $188.5 million, but T and D EBITDA increased by 5.8% to $20.1 million, with an EBITDA margin of 10.9%, up 80 basis points from last year [23][24] Market Data and Key Metrics Changes - The company reported strong demand trends in key markets, particularly in data centers, hospitality, and high-tech reshoring, with E and M backlog increasing by 46% year-over-year [10][11] - The company noted that while there are macroeconomic uncertainties, favorable trends in several key end markets position the company well for growth [11][12] Company Strategy and Development Direction - The company's "forever strategy" focuses on attracting and retaining talent, creating value for customers and shareholders, and maintaining strong customer relationships [14][16] - The company is increasing capital expenditures to support organic growth, including the purchase of a new prefabrication facility in Kansas City [17][25] - The company aims for organic revenue growth of 5% to 7% and EBITDA growth of 7% to 9% on a compound annual basis [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and highlighted the importance of maintaining strong customer relationships and effective project execution [9][11] - The company remains optimistic about backlog growth based on demand trends and its diverse end market exposure [14][48] Other Important Information - The company is actively monitoring tariff impacts and has implemented strategies to mitigate risks associated with price increases [58][59] - The company has a net leverage ratio of approximately one times, indicating a strong balance sheet position [24] Q&A Session Summary Question: Outlook on larger projects and revenue timing - Management indicated that backlog could be bumpy due to the nature of larger projects, which may have longer lead times [30][31] Question: Transmission and Distribution segment outlook - Management noted strong demand in the T and D segment, particularly in undergrounding projects, and expressed confidence in building upon existing customer relationships [33][35] Question: Status of high-tech manufacturing market - Management confirmed ongoing strong relationships with semiconductor manufacturers and expressed confidence in continued support for these customers despite some cyclicality in capital allocation [37][38] Question: Non-backlog business outlook - Management emphasized the importance of non-backlog work and resource allocation to maintain a healthy balance between backlog and non-backlog projects [41][42] Question: Hospitality market status - Management reported an increase in backlog in Las Vegas and expressed confidence in capturing future opportunities in the hospitality sector [46][47] Question: Impact of weather delays on T and D business - Management believes that weather-related delays will not significantly impact the overall business for the year, as demand remains strong [48] Question: Guidance for 2025 in light of strong Q1 - Management acknowledged some revenue pull-forward in Q1 and emphasized the need to monitor macroeconomic uncertainties moving forward [55][56] Question: Tariff impacts on business - Management discussed proactive measures to mitigate tariff risks and secure pricing with suppliers [58][59] Question: Corporate costs outlook - Management indicated that corporate costs may increase slightly for the remainder of the year as the company stands up its departments [60][61]

Financial Data and Key Metrics Changes - The company's Q1 2025 revenue increased by 32% to $826.6 million compared to the same period last year, driven by a 47% increase in Electrical and Mechanical (E and M) revenue, partially offset by a 2% decline in Transmission and Distribution (T and D) revenue [20][21] - Total EBITDA for Q1 2025 was $61.8 million, also reflecting a 32% increase year-over-year, with an EBITDA margin of 7.5%, consistent with the prior year [20][21] - The total backlog at the end of Q1 2025 was $3.1 billion, up 10% from the end of 2024 and up 41% from the same period last year [21][24] Business Line Data and Key Metrics Changes - E and M segment revenue rose to $648.2 million, a 47% increase from $441 million in the prior year, with EBITDA for this segment increasing by 51% to $49.5 million [22][23] - T and D segment revenue was $185 million, down from $188.5 million last year, but T and D EBITDA increased by 5.8% to $20.1 million, resulting in an EBITDA margin of 10.9%, up 80 basis points from last year [23][24] Market Data and Key Metrics Changes - The company reported strong demand trends in key markets, particularly in data centers, hospitality, and high-tech reshoring, with E and M backlog increasing by 46% year-over-year [10][11][12] - The T and D segment is expected to benefit from increased workloads, particularly in undergrounding projects, despite some weather-related delays impacting revenue [35][48] Company Strategy and Development Direction - The company is focused on its "forever strategy," which emphasizes attracting and retaining talent, delivering high-quality execution, and maintaining customer relationships [14][16] - A significant portion of the increased capital expenditure in Q1 was allocated to purchasing a new prefabrication facility in Kansas City, which is critical for supporting organic growth [17][25] - The company aims for organic revenue growth of 5% to 7% and EBITDA growth of 7% to 9% on a compound annual basis [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and highlighted the importance of maintaining strong customer relationships and project execution [9][11] - The company remains optimistic about backlog growth and demand trends in key markets, despite acknowledging potential fluctuations in project timing [10][14] Other Important Information - The company has appointed Tim Steves as vice president of corporate development and strategy to enhance its M&A capabilities [18] - The company affirmed its 2025 guidance, projecting revenues between $3 billion and $3.1 billion and EBITDA between $210 million and $225 million [26] Q&A Session Summary Question: Outlook on larger mix of longer lead time projects - Management indicated that while backlog may be bumpy, their expertise in winning large complex projects allows them to add value early in the project lifecycle [30][32] Question: T and D segment outlook and weather-related impacts - Management noted strong demand for T and D services and emphasized their long-standing customer relationships, which position them well for future work [35][48] Question: Status of high-tech manufacturing market - Management confirmed ongoing strong relationships with semiconductor manufacturers and expressed confidence in continuing to support these customers despite some cyclicality in capital allocation [38] Question: Non-backlog business outlook - Management highlighted the importance of non-backlog work and resource allocation, indicating a healthy backlog and good project visibility [41][44] Question: Hospitality market status - Management reported an increase in backlog in Las Vegas and strong relationships with customers, positioning them well for future opportunities [47] Question: Impact of tariffs on business - Management discussed proactive measures to mitigate tariff impacts, including securing pricing and availability with suppliers [59][60] Question: Corporate costs and future run rate - Management indicated that corporate costs may increase slightly as they stand up departments, but overall guidance remains unchanged [62]

Financial Data and Key Metrics Changes - The company's first quarter revenue increased by 32% year-over-year, reaching $826.6 million, driven primarily by a 47% increase in the Electrical and Mechanical (E and M) segment [18][7] - Total EBITDA for the first quarter was $61.8 million, also reflecting a 32% increase from the previous year, with an EBITDA margin of 7.5%, consistent with the prior year [18][19] - The total backlog at the end of the first quarter was $3.1 billion, up 10% from the end of the previous year and up 41% from the same period last year [19][9] Business Line Data and Key Metrics Changes - E and M revenue increased to $648.2 million, a 47% rise compared to $441 million in the prior year, with E and M EBITDA growing by 51% to $49.5 million [20][18] - Transmission and Distribution (T and D) revenue slightly declined by 2% to $185 million due to weather-related delays, but T and D EBITDA increased by 5.8% to $20.1 million [21][18] Market Data and Key Metrics Changes - The E and M backlog increased by 46% year-over-year, driven by growth in key submarkets such as data centers, manufacturing, government, and hospitality [9][19] - T and D backlog grew by 8% year-over-year, indicating solid demand despite the revenue decline [19] Company Strategy and Development Direction - The company is focused on its "forever strategy," which emphasizes attracting and retaining talent, delivering high-quality execution, and maintaining customer relationships [13][14] - A significant portion of the capital expenditure in the first quarter was allocated to purchasing a new prefabrication facility in Kansas City, expanding the total footprint by approximately 128,000 square feet [15][23] - The company aims for organic revenue growth of 5% to 7% and EBITDA growth of 7% to 9% on a compound annual basis [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and highlighted strong demand trends in key markets, particularly in data centers and high-tech reshoring [10][11] - The company is optimistic about its ability to grow backlog based on favorable demand trends and strong customer relationships [13][12] Other Important Information - The company is actively monitoring tariff impacts and has implemented strategies to mitigate risks associated with price increases [58] - The first quarter's capital expenditures were $18.5 million, up from $9.2 million in the same period last year, reflecting a commitment to support organic growth [23][18] Q&A Session Summary Question: Outlook on larger projects and revenue timing - Management indicated that the backlog could be bumpy due to the nature of large projects, which often have longer lead times [30] Question: Transmission and Distribution segment outlook - Management noted strong demand for T and D services and highlighted expertise in undergrounding as a growth opportunity [33] Question: Status of high-tech manufacturing market - Management confirmed ongoing strong relationships with semiconductor manufacturers and expressed confidence in continued support for these customers [37] Question: Non-backlog business outlook - Management emphasized the importance of non-backlog work and resource allocation to ensure effective project execution [40][42] Question: Hospitality market status - Management reported an increase in backlog in Las Vegas and expressed confidence in capturing future opportunities in the hospitality sector [46] Question: Pharmaceutical manufacturing opportunities - Management acknowledged the potential for growth in the pharmaceutical manufacturing market and indicated plans for geographic expansion [50] Question: Impact of tariffs on business - Management discussed proactive measures to mitigate tariff risks and secure pricing with suppliers [58] Question: Corporate costs and future expectations - Management indicated that corporate costs may increase slightly as the company stands up departments, but overall costs remain in line with expectations [61]

Financial Performance - First quarter revenue grew by 32% year-over-year, driven by strong performance in the Electrical & Mechanical (E&M) segment[26, 32] - Total backlog increased by 41% year-over-year to $3.1 billion, with E&M backlog up 46% and Transmission & Distribution (T&D) backlog up 8%[10, 32] - First quarter EBITDA increased by 32% year-over-year, despite incremental stand-alone operating costs[10, 32] - EBITDA margin remained consistent year-over-year at 75%[10, 31] Segment Highlights - E&M revenue increased by 47% in the first quarter, driven by strength in key submarkets within commercial and institutional sectors; EBITDA increased by 51%[13, 33, 41] - T&D revenue decreased by 2% in the first quarter due to lower utility work and weather delays, partially offset by transportation growth; EBITDA increased by 6%[13, 34, 41] Balance Sheet and Liquidity - Net debt stood at $242 million in the first quarter of 2025[44, 49] - Total cash and availability amounted to $264 million, providing financial flexibility[13, 45, 49] - Net leverage was 10x at the end of the first quarter, below the long-term target range of 15x-20x[13, 48, 49] 2025 Financial Guidance - The company affirmed its 2025 revenue guidance of $30 billion - $31 billion and EBITDA guidance of $210 million - $225 million[50]

Exhibit 99.1 Everus Reports First Quarter Results, Affirms Guidance for 2025 BISMARCK, N.D. — May 13, 2025 — Everus Construction Group (NYSE: ECG) today reported financial results for first quarter 2025. First Quarter 2025 Summary "Our record backlog was up 10% from year-end and more than 40% compared to first quarter last year, with growth in both the E&M and T&D segments. We saw continued strong project opportunities across our diverse service offerings, particularly for data center, hospitality, undergro ...