Company Overview - Everus Construction Group, Inc. operates within the engineering and construction industry, offering diversified services including utility infrastructure, specialty equipment, and maintenance [6] - The company's strategy focuses on integrated solutions for complex utility and industrial projects, leveraging expertise in construction and manufacturing to secure long-term contracts and recurring revenue streams [6] - As of February 12, 2026, Everus has a market capitalization of $5.17 billion, revenue of $3.49 billion, and net income of $180.96 million [4] Recent Developments - Wasatch Advisors disclosed a new stake in Everus Construction Group, acquiring 2,160,337 shares valued at $184.84 million as of February 12, 2026 [1][2] - This new position accounts for 1.1% of Wasatch Advisors' 13F assets under management as of December 31, 2025 [7] - Everus shares were priced at $101.27, reflecting a 100% increase over the past year, significantly outperforming the S&P 500's 13% gain during the same period [7] Financial Performance - Everus reported third-quarter revenue of $986.8 million, a 30% year-over-year increase, with EBITDA rising 36.9% to $89.0 million and margins expanding to 9.0% [10] - The company's backlog stands at $2.95 billion, up 6% from year-end, with management raising full-year guidance to as much as $3.65 billion in revenue and $300 million in EBITDA [10] Market Position and Strategy - Everus provides utility construction services, including electrical line and pipeline construction, inside electrical wiring, mechanical services, and specialty equipment manufacturing and distribution [8] - The firm generates revenue through large-scale infrastructure projects, equipment sales, and ongoing maintenance and installation contracts, primarily serving utility companies and industrial clients in the U.S. Midwest and metropolitan areas like Las Vegas and Reno [8] Investment Considerations - The stock's significant price increase suggests it is not a deep value play, but it offers a different kind of cyclical exposure within a growth-oriented portfolio [11] - For long-term investors, the durability of earnings is crucial, with current demand in data centers and utilities driving results [12] - The next key catalyst for the company will be the release of fourth-quarter earnings [12]
Everus Stock Up 100% in a Year as One Fund Discloses New $185 Million Stake