Everus Construction Group, Inc. · NYSE:ECG
Everus Construction — Q1 2026 Earnings Presentation
23 slides from Everus Construction's earnings presentation, May 6, 2026
Slide 1: First Quarter 2026 Results Conference Call
FIRST QUARTER 2026 RESULTS CONFERENCE CALL May 6, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements 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, oth
Slide 3: Our Mission and Values
OUR MISSION Safely Building America’s FutureⓇ as an industry-leading construction services provider while achieving sustained growth. OUR VALUES INTEGRITY RESPECT SAFETY TEAMWORK 3
Slide 4: First Quarter 2026 Highlights – Continued Momentum
First Quarter 2026 Highlights – Continued Momentum Strong Revenue Growth Solid EBITDA Growth Revenue growth of 25% driven by Total EBITDA increased 44% from prior continued momentum in E&M (+29%), year, driven by strong revenue growth and particularly data center submarket, and continued efficient p
Slide 5: First Quarter 2026 Highlights – End-Market Strength
First Quarter 2026 Highlights – End-Market Strength E&M Momentum Free Cash Flow E&M revenues increased 29% driven by First quarter free cash flow was $131.9 million, continued momentum in data center work; compared to cash usage of $8.1 million last year, driven EBITDA increased 52% with 140 bps by
Slide 6: Acquisition of SE&M – E&M Contractor in Southeast Region
Acquisition of SE&M – E&M Contractor in Southeast Region Compelling Transaction Rationale Leading position in pharmaceutical and industrial manufacturing end markets further diversifies revenue mix Company Overview Attractive revenue profile is driven by maintenance and SE&M, founded in 1923 and hea
Slide 7: Employees Value Execution Relationships
Employees Value Execution Relationships Attract, retain Create long-term Lead the industry Maintain and grow and train value with sustained in safety and consistent customer premier talent profitable growth high-quality execution relationships 7
Slide 8: Value Creation Framework
Value Creation Framework Targeted Commercial Growth Operational Excellence Disciplined Capital Allocation Grow share within existing end Strategically deploy assets in Invest in high-return organic markets higher-margin projects and growth initiatives end markets Further penetrate Pursue strategic a
Slide 9: Long-Term Expectations
Employees Value Execution Relationships LONG-TERM EXPECTATIONS 5% – 7% 7% – 9% Organic Revenue CAGR EBITDA CAGR 2.0% – 2.5% 1.5x – 2.0x CapEx as % of Revenue Net Leverage 9
Slide 10: First Quarter 2026 Results
FIRST QUARTER 10 2026 RESULTS
Slide 11: First Quarter 2026 Performance Summary
First Quarter 2026 Performance Summary Performance First Quarter Revenues First Quarter EBITDA ($MM) highlighted by strong ($MM) $1,036.9 E&M growth, $88.9 continued backlog $826.6 $61.8 momentum, project + 25.4% + 43.9% execution • 25% first quarter revenue growth driven by strong E&M 1Q25 1Q26 1Q2
Slide 12: First Quarter 2026 Segment Summary
First Quarter 2026 Segment Summary E&M Revenues T&D Revenues E&M Highlights ($MM) ($MM) • First quarter revenues increased $835.1 $204.4 29% due to strength in $648.2 $185.0 commercial, particularly in data center submarket + 28.8% + 10.5% • First quarter EBITDA increased 52% on strong revenue growt
Slide 13: First Quarter 2026 Balance Sheet and Liquidity
First Quarter 2026 Balance Sheet and Liquidity Ample financial Net Debt Net Leverage ($MM) flexibility to pursue strategic objectives $242 $228 • 1Q26 net debt of $6 million, $159 1.0x down from 4Q25 reflecting $132 strong operating results and working capital benefits 0.8x $6 • Cash and availabilit
Slide 14: 2026 Financial Guidance
2026 Financial Guidance 2026 Drivers 2026 Guidance Guidance reflects strong backlog trends, continued business momentum, and inclusion of SE&M Revenues $4.3B – $4.4B Strong demand for E&M driven by (up from $4.1B - $4.2B) data center, hospitality and high tech; T&D driven by grid modernization and h
Slide 15: Compelling Investment Thesis
Compelling Investment Thesis Benefit From Multiple Proven Leadership Team Scaled National Platform Skilled Workforce, Diversified Revenue Base Growth Drivers and Executing 4EVER of Market-Leading Local People-First Culture & & Disciplined Capital Industry Megatrends Strategy Brands Repeatable Playbo
Slide 16: Appendix
APPENDIX 16
Slide 17: Non-GAAP Financial Guidance
Non-GAAP Financial Guidance Everus is unable to reconcile forward-looking non-GAAP financial guidance relating to full-year 2026 EBITDA and pro forma net leverage to the respective nearest GAAP measure without unreasonable efforts. Specifically, due to the limited time since the acquisition of SE&M,
Slide 18: Reconciliations of net income to EBITDA and EBITDA margin
Reconciliations of net income to EBITDA and EBITDA margin Reconciliations of net income to EBITDA and EBITDA margin. Three months ended March 31, 2026 2025 Change (In millions, except percentages) Net income $ 58.3 $ 36.7 58.9% Interest expense, net 2.3 4.7 (51.1)% Income taxes 20.3 13.6 49.3% Depre
Slide 19: Reconciliations of net income to EBITDA by segment
Reconciliations of net income to EBITDA by segment Reconciliations of net income to EBITDA by segment. Three months ended March 31, 2026 Three months ended March 31, 2025 Corporate and Corporate and E&M T&D Other Total E&M T&D Other Total (In millions) Net income $ 56.7 $ 15.0 $ (13.4) $ 58.3 $ 36.6
Slide 20: Reconciliations of EBITDA and EBITDA margin by segment
Reconciliations of EBITDA and EBITDA margin by segment Reconciliations of net income to EBITDA and EBITDA margin by segment. Three months ended March 31, 2026 2025 % change (In millions, except percentages) Operating revenues: E&M $ 835.1 $ 648.2 28.8% T&D 204.4 185.0 10.5% Eliminations (2.6) (6.6)
Slide 21: Reconciliations of trailing 12-month EBITDA and net leverage
Reconciliations of trailing 12-month EBITDA and net leverage Reconciliations of trailing 12-month EBITDA as of March 31, 2026 and Dec. 31, 2025. Twelve months Three months Twelve months Three months ended March 31, ended March 31, ended December ended March 31, 2026 2026 31, 2025 2025 (In millions)
Slide 22: Reconciliations of free cash flow
Reconciliations of free cash flow Reconciliations of cash provided by operating activities to free cash flow Three months ended March 31, 2026 2025 (In millions) Net cash used in investing activities $ (14.3) $ (14.8) Net cash used in financing activities $ (6.5) $ (4.3) Net cash provided by operati
Slide 23: investors@everus.com
Contact: investors@everus.com 23
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