Fri, Feb 28, 10:19 PM (51 days ago)
**Summary of Everus Construction Group, Inc. (ECG) 10-K Filing for FY 2024** Everus Construction Group, Inc. reported total revenues of approximately $2,850 million for FY 2024, a slight decrease of 0.2% from $2,854 million in FY 2023. The Electrical & Mechanical (E&M) segment generated $2,031 million, down 4.8%, while the Transmission & Distribution (T&D) segment saw a 14.0% increase to $837 million. Net income rose to $143 million, reflecting a 4.5% increase. Operating expenses increased to $150 million, contributing to an operating income of $190 million. Earnings per share were $2.81. The company, following its separation from MDU Resources on October 31, 2024, is now structured as an independent entity. Future outlook remains focused on enhancing market position through strategic growth and maintaining strong customer relationships, despite risks from economic volatility, regulatory changes, and supply chain disruptions. The company holds approximately $86 million in cash and cash equivalents, with $300 million in long-term debt. Everus is positioned well within the fragmented U.S. construction market, emphasizing operational excellence and safety. The company anticipates continued demand in renewable energy and infrastructure projects.