NEW YORK, May 20, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Everus Construction Group, Inc. (NYSE: ECG) between October 31, 2024 and February 11, 2025, both dates inclusive (the “Class Period”), including investors who held MDU Resources Group, Inc. (“MDU Resources”) common stock as of October 21, 2024 and acquired Everus Construction common stock issued in connection with the spinoff of Everus Construction on or about October 31, ...

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].

Core Insights - Corpay and Computer Guidance Corporation have released a joint case study highlighting their integrated accounts payable automation solution for S.T. Wooten, a construction firm [1][4] - The partnership aims to modernize and streamline back-office operations for construction companies through secure payment automation within existing ERP systems [2][3] Company Overview - Computer Guidance Corporation provides a leading construction enterprise resource planning (ERP) solution, serving thousands of clients across North America, with over 20% of clients on top ENR lists [5] - Corpay is a global S&P 500 corporate payments company that processes 1.9 billion transactions annually and is the number one B2B commercial Mastercard issuer in North America [6][7] Solution Features - The integrated solution is built on a flexible, API-based framework that allows real-time data exchange between Corpay's payment automation platform and Computer Guidance's eCMS ERP system, enhancing visibility and accuracy while reducing manual processing [3][4] - The case study emphasizes the benefits of reducing payment friction, strengthening vendor relationships, and allowing accounts payable teams to focus on strategic initiatives [4][5] Market Impact - The collaboration between Corpay and Computer Guidance aims to simplify workflows, improve control, and drive meaningful cost savings for construction finance teams [5] - The unified spend management platform, Corpay Complete, offers various solutions including Payments Automation and Invoice Automation, which help clients automate and secure business payments [7]

Core Insights - Merko Ehitus reported a revenue of EUR 85.2 million and a net profit of EUR 10.5 million for Q1 2025, with real estate development contributing 30% to the revenue, more than doubling from the previous year [1][2][3] Financial Performance - The pre-tax profit for Q1 2025 was EUR 11.6 million, resulting in a pre-tax profit margin of 13.6%, compared to EUR 5.2 million and 6.4% in Q1 2024 [7] - Net profit attributable to shareholders for Q1 2025 was EUR 10.5 million, with a net profit margin of 12.3%, up from EUR 4.4 million and 5.5% in Q1 2024 [7] - Revenue increased by 5.0% year-on-year, from EUR 81.2 million in Q1 2024 to EUR 85.2 million in Q1 2025 [8] Real Estate Development - The group sold 121 apartments and one commercial unit in Q1 2025, compared to 59 apartments and seven commercial units in the same period last year [5][11] - Revenue from real estate development reached EUR 26 million in Q1 2025, up from EUR 13 million in Q1 2024 [5] Construction Contracts - Merko signed new construction contracts worth EUR 50.6 million in Q1 2025, a significant increase from EUR 10.5 million in Q1 2024 [4][10] - The secured order book stood at EUR 332 million at the end of Q1 2025, down from EUR 419 million in Q1 2024 [9] Market Activity - Increased activity in the Lithuanian real estate market contributed to the improved results, while Merko also gained market share in Estonia despite stagnant sales of new apartments [2][3] - The group is focusing on completed or near-completion apartments, reflecting buyer preferences [3] Cash Position - As of March 31, 2025, the group had EUR 78.5 million in cash and cash equivalents, with equity amounting to EUR 264.7 million, representing 61.0% of total assets [12]

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 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]

NEW YORK, May 13, 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. ...

Core Viewpoint - A class action securities lawsuit has been filed against Everus Construction Group, Inc. for alleged securities fraud affecting investors between October 31, 2024, and February 11, 2025 [1][2]. Group 1: Allegations and Impact - The lawsuit claims that the defendants made false statements and concealed information regarding the Company's backlog conversion cycle, which had become elongated due to larger and more complex projects [2]. - As a result of the elongated backlog conversion cycle, the Company's revenue recognition would be delayed, leading to materially misleading positive statements about the Company's business and prospects [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until June 3, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

Financial Data and Key Metrics Changes - Revenue for Q2 fiscal 2025 was $571.7 million, representing a 54% increase year-over-year [16] - Adjusted EBITDA grew by 135% to $69.3 million, with an adjusted EBITDA margin of 12.1%, up from 7.9% in the same quarter last year [18] - Net income was $4.2 million, compared to a net loss of $1.1 million in the same quarter last year [18] - General and administrative (G&A) expenses as a percentage of total revenue decreased to 8.2% from 9.7% year-over-year [17] Business Line Data and Key Metrics Changes - The revenue mix for the quarter included 7% organic revenue growth and 47% from recent acquisitions [16] - The company reported a project backlog of $2.84 billion, indicating strong demand for services [19] Market Data and Key Metrics Changes - The company continues to benefit from healthy federal and state project funding in the Sunbelt states, with no signs of degradation in market conditions [10] - The IIJA and state funding are expected to provide a healthy bidding environment for public market customers [11] Company Strategy and Development Direction - The company is focused on both organic and acquisitive growth, with a strong acquisition pipeline and plans to expand into new states [12][13] - The strategic goal is to achieve top-line growth of 15% to 20% annually and EBITDA expansion of 50 basis points per year through various margin levers [13] Management's Comments on Operating Environment and Future Outlook - Management noted that they have not experienced project delays or cancellations despite broader macroeconomic uncertainties [24] - The company is optimistic about the future, citing strong economic expansion and favorable demographic trends in Tennessee as growth drivers [9] Other Important Information - Capital expenditures for Q2 were $41.4 million, with total expected capital expenditures for fiscal 2025 in the range of $130 million to $140 million [21] - The company aims to reduce its debt to trailing twelve months EBITDA ratio to approximately 2.5 times in the next four quarters [20] Q&A Session Summary Question: Are there any project delays or cancellations due to macroeconomic uncertainty? - Management stated they are experiencing business as usual with no delays or cancellations noted [24] Question: What are the margin differentials in recent acquisitions? - Management highlighted that the recent acquisition of PRI has a margin profile in the mid-teens, which is beneficial for the company [27] Question: How is capital allocation prioritized in 2025? - The company plans to pay down debt while also pursuing smart acquisitions to support growth [34] Question: What is the revenue contribution from M&A? - Approximately $150 million to $160 million in revenue is expected to carry over into 2026 from recent acquisitions [47] Question: Are there any inflation-related impacts from tariffs? - Management indicated that tariffs have not been a significant issue, as most supply chain inputs are sourced domestically [54] Question: How does the backlog compare to recognized profit margins? - Backlog margins are healthy, and the company typically finds ways to grow margins during project execution [78]