NEW YORK, May 2, 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/psl ...

Core Viewpoint - A federal securities class action has been filed on behalf of investors in Everus Construction Group, Inc. due to undisclosed issues regarding the company's backlog conversion cycle and revenue recognition delays [1][5]. Company Overview - Everus Construction Group, Inc. was formerly known as MDU Construction Services Group, Inc. and operated as a wholly owned subsidiary of CEHI, LLC, which is a subsidiary of MDU Resources [3]. - The company's stock began trading on the NYSE following its spinoff on October 31, 2024 [3]. Financial Performance - On February 11, 2025, Everus reported its fourth quarter and full year 2024 financial results, projecting revenue between $3.0 billion and $3.1 billion and EBITDA between $210 million and $225 million for 2025 [4]. - The company indicated that its backlog conversion would be extended due to larger and more complex projects, which would affect revenue recognition [4]. Stock Market Reaction - Following the financial results announcement, Everus shares fell by $12.43, approximately 18%, from $68.42 to $55.99 per share [4]. Legal Action - The class action complaint alleges that the company failed to disclose critical information regarding the elongation of its backlog conversion cycle and the resulting delays in revenue recognition during the class period [5].

Core Insights - EMCOR Group, Inc. reported strong first-quarter 2025 results, with adjusted earnings and revenues exceeding expectations and showing year-over-year growth [1][3][6] - The company's performance benefited from virtual design and construction technologies, prefabrication capabilities, and the acquisition of Miller Electric [1][2] Financial Performance - Adjusted earnings per share (EPS) reached $5.41, surpassing the Zacks Consensus Estimate of $4.57 by 18.4%, compared to $4.17 in the same quarter last year [3] - Revenues totaled $3.87 billion, exceeding the consensus estimate of $3.8 billion by 1.9% and increasing 12.7% from $3.43 billion year-over-year [6] Segment Performance - U.S. Construction Services segment revenues grew 21.3% year-over-year to $2.66 billion, with operating income increasing by 33.2% and margin expanding to 12.1% [7] - U.S. Electrical Construction and Facilities Services revenues rose 42.3% year-over-year to $1.09 billion, with operating income up 48.6% and margin at 12.5% [8] - U.S. Mechanical Construction and Facilities Services revenues increased 10.2% year-over-year to $1.57 billion, with operating income rising 23.9% and margin at 11.9% [9] - U.S. Building Services revenues decreased 4.9% year-over-year to $742.6 million, while operating income grew 8.9% [9] - U.S. Industrial Services revenues inched up 1.4% year-over-year to $359 million, but operating income dropped 62.4% [10] - U.K. Building Services revenues increased 0.6% year-over-year to $105.3 million, with operating income falling 7.3% [10] Operating Metrics - Gross margin expanded 150 basis points year-over-year to 18.7%, while operating margin improved to 8.2% from 7.6% [11] - Selling, general and administrative expenses as a percentage of revenues increased by 80 basis points to 10.4% [11] Liquidity and Cash Flow - As of March 31, 2025, cash and cash equivalents stood at $576.7 million, down from $1.34 billion at the end of 2024 [12] - Net cash provided by operating activities was $108.5 million, compared to $132.3 million in the prior year [12] - Remaining performance obligations (RPOs) increased year-over-year to $11.75 billion from $9.18 billion [12] Outlook - EMCOR expects annual revenues to be between $16.1 billion and $16.9 billion, with EPS projected in the range of $22.65 to $24.00 [13]

NEW YORK, May 01, 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=146190&from=3 CL ...

NEW YORK, May 1, 2025 /PRNewswire/ -- 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=146169&from=4CLASS PERIO ...

NEW YORK, April 30, 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 3 ...

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: Lawsuit Details - 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, more complex projects [2] - It is alleged that this elongation resulted in delayed revenue recognition for the Company [2] - Consequently, the positive statements made by the defendants about the Company's business and prospects were materially misleading and lacked a reasonable basis [2] Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until June 3, 2025, to request to be appointed as lead plaintiff [3] - Participation in the lawsuit does not require serving as a lead plaintiff to share in any potential recovery [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees [3] Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4]

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Everus Construction Group, Inc. regarding a class action lawsuit due to alleged misleading statements and omissions during a specified class period [1][3]. Group 1: Class Action Details - The class period for the lawsuit is from October 31, 2024, to February 11, 2025 [3]. - Allegations include that the company’s backlog conversion cycle has become elongated due to larger, more complex projects, leading to delayed revenue recognition [3]. - The complaint asserts that the defendants' positive statements about the company's business and prospects were materially misleading and lacked a reasonable basis [3]. Group 2: Shareholder Actions - Shareholders are encouraged to register for the class action by June 3, 2025, to potentially be appointed as lead plaintiffs [4]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's status [4]. - Participation in the case incurs no cost or obligation for shareholders [4]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].

NEW YORK, April 28, 2025 /PRNewswire/ -- 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=145060&from=4 CLASS ...

NEW YORK, April 24, 2025 /PRNewswire/ -- 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: CLASS PERIOD: October 31, 2024 to February 11, 2025 ALLEGATIONS: The complaint alleges that during the class period ...