Everus Construction Group, Inc. · NYSE:ECG
Everus Construction — Investor Presentation (May 2025)
34 slides from Everus Construction's investor presentation, May 28, 2025
Slide 1: Investor Presentation May/June 2025
Investor Presentation May/June 2025 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements 2 This presentation, and oral comments that Everus may make, contain or incorporate by reference certain “forward-looking statements” within the meaning of the securities laws. All statements that reflect Everus’ expectations, assumptions or projections about the future, o
Slide 3: Our Mission and Values
3 OUR MISSION Safely Building America’s Future as an industry-leading construction services provider while achieving sustained growth OUR VALUES SAFETY RESPECT TEAMWORK INTEGRITY
Slide 4: Leading Construction Services Provider
$3.1B Total Revenue(2) Wiring, infrastructure, fire suppression and piping National Platform of 20 Market-Leading Local Brands Electrical & Mechanical Note: Figures reflect data as of Dec. 31, 2024, unless specified otherwise. (1) Engineering News-Record magazine. (2) Trailing twelve months ended Ma
Slide 5: Electrical & Mechanical Segment Overview
COMMERCIAL (61%) SERVICE/OTHER (5%) 5 Construction and maintenance of electrical, communication, fire suppression and mechanical systems Deep experience with hospitality, entertainment, high-tech and data center projects Specialized expertise with complex, large and longer-term projects Electrical c
Slide 6: Transmission & Distribution Segment Overview
6 Construction and maintenance services for utility and communication infrastructure Manufacturing and distribution of line equipment Expertise in small- to medium-sized projects, recurring upgrades and maintenance work Serving utility and local government customers Equipment Excavation & undergroun
Slide 7: End-Market Revenue Breakdown
7 Commercial Transportation Renewables $1,370M LTM Revenue 45% % of Contract Revenue $46M LTM Revenue 1% % of Contract Revenue $86M LTM Revenue 3% % of Contract Revenue Service & Other $110M LTM Revenue 4% % of Contract Revenue Note: Figures reflect trailing twelve months ended March 31, 2025. Inclu
Slide 8: Scaled National Platform of Market-Leading Local Brands
Scaled National Platform of Market-Leading Local Brands 8 Operations in ~30 states and D.C. Work authorization in more than 40 states and D.C. Proven ability to deploy capital for innovation and to set industry standards Systematic platform-wide sharing of best practices and expertise Authorized sta
Slide 9: Create long-term value with sustained profitable growth
9 Create long-term value with sustained profitable growth Value Attract, retain and train premier talent Employees Maintain and grow customer relationships Relationships Lead the industry in safety and consistent high-quality execution Execution
Slide 10: Value Creation Framework
Value Creation Framework 10 Grow share within existing end markets Further penetrate higher-growth submarkets Lead geographic expansion through satellite projects Accelerate growth with strategic M&A Targeted Commercial Growth Disciplined Capital Allocation Driving sustainable value creation through
Slide 11: Multiple Levers to Drive Growth
Multiple Levers to Drive Growth 11 Grow Share Within Existing Markets Increase local share through strong customer relationships and a proven track record of execution Further Penetrate Higher-Growth Sub-Markets Leverage expertise with critical and complex projects to expand within high-growth sub-m
Slide 12: Operational Excellence Drives Repeatable High-Quality Results
12 Systematically Share ‘Lessons Learned’ Across Brands Leverage Unique Pre-Construction Design-Assist Capabilities Position Safety as a Core Value, not Only a Priority Efficiently Scale Highly Skilled Workforce Continuously Train and Develop Workforce Skills Deploy Best Practices in Detailed Projec
Slide 13: Early Adopter of Pre-Fabrication
Project-planning standards that identify pre-fabrication opportunities Robust communication and knowledge- sharing between BIM/CAD(1) and pre- fabrication teams National scale and local presence allowing innovation at scale with local expertise Superior pre-fabrication quality, lowering costs and st
Slide 14: Disciplined Capital Allocation For Long-Term Value Creation
Disciplined Capital Allocation For Long-Term Value Creation 14 Prudent management through the economic cycle Target long-term net leverage ratio between 1.5x and 2.0x Complementary businesses, only if strategic and cultural fit with compelling returns Disciplined and selective approach in ta
Slide 15: Long-Term Goals
15 Employees Value Execution Relationships LONG-TERM GOALS 2.0% – 2.5% CapEx as % of Revenue Net Leverage 1.5x – 2.0x 7% – 9% EBITDA CAGR 5% – 7% Organic Revenue CAGR
Slide 16: First Quarter 2025 Results
16 FIRST QUARTER 2025 RESULTS
Slide 17: First Quarter 2025 Highlights – Backlog Strength
First Quarter 2025 Highlights – Backlog Strength 17 Strong Backlog Growth Backlog of $3.1 billion, up 41% from prior year, reflecting growth in both T&D (+8%) and E&M (+46%) segments Robust Revenue Growth Revenue growth of 32% driven by continued momentum in E&M EBITDA Growth Total EBITDA increased
Slide 18: First Quarter 2025 Highlights – End Market Momentum
First Quarter 2025 Highlights – End Market Momentum 18 T&D Margin Expansion T&D revenue decreased 2% as lower storm work was partially offset by higher underground workloads; EBITDA increased 6% driven by margin expansion E&M Momentum E&M revenue increased 47% driven by continued momentum in data ce
Slide 19: First Quarter 2025 Performance Summary
First Quarter 2025 Performance Summary 19 Performance highlighted by continued backlog momentum, project execution, strong E&M growth • 32% first quarter revenue growth driven by strong E&M results • Total backlog increased 41% to $3.1 billion y/y, with E&M backlog up 46% and T&D backlog up 8% • Fir
Slide 20: First Quarter Segment Performance Summary
E&M Highlights • First quarter revenue increased 47% due to strength in key submarkets within commercial and institutional • First quarter EBITDA increased 51% on strong revenue growth; margin increased 20 bps T&D Highlights • First quarter revenue decreased 2% due to lower utility work and weather
Slide 21: First Quarter 2025 Balance Sheet and Liquidity
Ample financial flexibility to pursue strategic objectives • 1Q25 net debt of $242 million, up from 4Q24 reflecting seasonal working capital usage and investments in capital expenditures • Cash and availability of $264 million provides flexibility to pursue growth strategy • Net leverage of 1.0x at
Slide 22: 2025 Financial Guidance
22 2025 Financial Guidance 2025 Drivers Strong demand for E&M driven by data center, high-tech re-shoring; T&D driven by grid modernization and grid hardening Strong momentum with backlog of $3.1 billion as of March 31, 2025, up 41% year-over-year Margin realization impacted by incremental stand-alo
Slide 23: Compelling Investment Thesis
Benefit From Multiple Growth Drivers and Industry Megatrends Proven Leadership Team Executing 4EVER Strategy Scaled National Platform of Market-Leading Local Brands Skilled Workforce, People-First Culture & Repeatable Playbook Diversified Revenue Base & Disciplined Capital Allocation Compelling Inve
Slide 24: Appendix
24APPENDIX
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures 25 We are unable to reconcile long-term organic revenue, organic revenue growth, EBITDA and net leverage to their respective nearest U.S. GAAP measure because we are unable to predict the timing of these adjustments with a reasonable degree of certainty. By their very nat
Slide 26: Reconciliations of net income to EBITDA and EBITDA margin
Reconciliations of net income to EBITDA and EBITDA margin 26 Reconciliations of net income to EBITDA and EBITDA margin. Three months ended March 31, 2025 2024 Change (In millions, except percentages) Net income $ 36.7 $ 28.2 30.1 % Interest 4.7 2.7 74.1 % Income taxes 13.6 10.0 36.0 % Depreciation a
Slide 27: Reconciliations of net income to EBITDA by segment
Reconciliations of net income to EBITDA by segment 27 Reconciliations of net income to EBITDA by segment. Three months ended March 31, 2025 Three months ended March 31, 2024 E&M T&D Corporate and Other Total E&M T&D Corporate and Other Total (In millions) (In millions) Net income $ 36.6 $ 10.5 $ (10
Slide 28: Reconciliations of EBITDA and EBITDA margin by segment
Reconciliations of EBITDA and EBITDA margin by segment 28 Reconciliations of net income to EBITDA and EBITDA margin by segment. Three months ended March 31, 2025 2024 % change (In millions, except percentages) Operating revenues: Electrical & Mechanical $ 648.2 $ 441.0 47.0 % Transmission & Distribu
Slide 29: Reconciliation of full-year 2025 EBITDA guidance
Reconciliation of full-year 2025 EBITDA guidance 29 EBITDA guidance reconciliation Low High (In millions) Net income $ 120.0 $ 130.0 Interest expense 25.0 25.0 Income taxes 40.0 45.0 Depreciation and amortization 25.0 25.0 EBITDA $ 210.0 $ 225.0
Slide 30: Reconciliations of trailing 12-month EBITDA and net leverage
Reconciliations of trailing 12-month EBITDA and net leverage 30 Reconciliations of trailing-twelve-month EBITDA as of March 31, 2025 and December 31, 2024. Twelve months ended March 31, 2025 Three months ended March 31, 2025 Twelve months ended December 31, 2024 Three months ended March 31, 2024 (In
Slide 31: Reconciliations of trailing 12-month EBITDA by segment
Reconciliations of trailing 12-month EBITDA by segment 31 Reconciliations of trailing-twelve-month EBITDA as of March 31, 2025 – E&M. Twelve months ended March 31, 2025 Three months ended March 31, 2025 Twelve months ended December 31, 2024 Three months ended March 31, 2024 (In millions) Net income
Slide 32: Reconciliations of EBITDA and EBITDA margin by segment
Reconciliations of EBITDA and EBITDA margin by segment 32 Reconciliations of net income to EBITDA and EBITDA margin by segment. Trailing-twelve-month ended March 31, 2025 (In millions, except percentages) Operating revenues: Electrical & Mechanical $ 2,238.7 Transmission & Distribution 833.6 Elimina
Slide 33: Reconciliations of free cash flow
Reconciliations of free cash flow 33 Reconciliations of cash provided by operating activities to free cash flow Three months ended March 31, 2025 2024 (In millions) Net cash used in investing activities $ (14.8) $ (6.4) Net cash used in financing activities $ (4.3) $ (16.5) Net cash provided by oper
Slide 34: Contact: investors@everus.com
Contact: investors@everus.com 34
Everus Construction Group — Investor Presentation (May 2025) on 6ix