Everus Construction Group, Inc. · NYSE:ECG
Everus Construction — Q2 2025 Earnings Presentation
23 slides from Everus Construction's earnings presentation, Aug 13, 2025
Slide 1: Second Quarter 2025 Results Conference Call
SECOND QUARTER 2025 RESULTS CONFERENCE CALL August 13, 2025
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: Second Quarter 2025 Highlights – Continued Strength
Second Quarter 2025 Highlights – Continued Strength Strong Backlog Growth Segment EBITDA Growth Backlog of $3.0 billion, up 24% from prior Total EBITDA increased 36% from prior year, reflecting growth in both E&M (+24%) year, despite incremental stand-alone and T&D (+21%) segments operating costs, d
Slide 5: Second Quarter 2025 Highlights – End Market Momentum
Second Quarter 2025 Highlights – End Market Momentum E&M Momentum Free Cash Flow E&M revenues increased 42% driven by Six months ended 2025 free cash flow was continued momentum in data center work; $7 million, an improvement from a use of EBITDA increased 53% with 70 bps ($7) million last year marg
Slide 6: Employees Value Execution Relationships
Employees Value Execution Relationships Attract, retain Create long-term Lead the industry Maintain and grow and train value with sustained in safety and consistent customer premier talent profitable growth high-quality execution relationships 6
Slide 7: Value Creation Framework
Value Creation Framework Targeted Commercial Growth Operational Excellence Disciplined Capital Allocation Grow share within existing end Strategically deploy assets in Invest in high-return organic markets higher-margin projects and growth initiatives end markets Further penetrate Pursue strategic a
Slide 8: Long-Term Expectations
Employees Value Execution Relationships LONG-TERM EXPECTATIONS 5% – 7% 7% – 9% Organic Revenue CAGR EBITDA CAGR 2.0% – 2.5% 1.5x – 2.0x CapEx as % of Revenue Net Leverage 8
Slide 9: Second Quarter 2025 Results
SECOND QUARTER 2025 9 RESULTS
Slide 10: Second Quarter 2025 Performance Summary
Second Quarter 2025 Performance Summary 31.0% y/y Second Quarter Revenue Growth 35.6% y/y Second Quarter EBITDA Growth Performance ($MM) ($MM) $84.2 highlighted by $921.5 continued backlog $62.1 $703.3 momentum, project execution, strong E&M growth • 31% second quarter revenue 2Q24 2Q25 2Q24 2Q25 gr
Slide 11: Second Quarter Segment Performance Summary
Second Quarter Segment Performance Summary E&M Revenues T&D Revenues E&M Highlights ($MM) ($MM) • Second quarter revenues $713.6 $206.8 $212.4 increased 42% due to strength in commercial $503.8 • Second quarter EBITDA increased 53% on strong revenue growth and execution benefits; margin increased 70
Slide 12: Second Quarter 2025 Balance Sheet and Liquidity
Second Quarter 2025 Balance Sheet and Liquidity Net Debt Net Leverage Ample financial ($MM) ($MM) $242 flexibility 1.0x 1.0x to pursue strategic $230 $228 0.8x objectives • 2Q25 net debt of $228 million, down from 1Q25 reflecting 4Q24 1Q25 2Q25 4Q24 1Q25 2Q25 strong operating results • Cash and avai
Slide 13: 2025 Financial Guidance
2025 Financial Guidance 2025 Drivers Raising 2025 Guidance Raised guidance to reflect strong first half results, continued business Revenues momentum $3.3B – $3.4B Strong demand for E&M driven by data center, high tech re-shoring; T&D driven by grid modernization and hardening EBITDA Strong momentum
Slide 14: 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 15: Appendix
APPENDIX 15
Slide 16: Non-GAAP Financial Guidance
Non-GAAP Financial Guidance We are unable to reconcile forward-looking non-GAAP financial guidance relating to full-year 2025 EBITDA margin and long-term targets of organic revenue, organic revenue growth, EBITDA, EBITDA growth and net leverage to their respective nearest U.S. GAAP measure because w
Slide 17: 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 June 30, Six months ended June 30, 2025 2024 Change 2025 2024 Change (In millions, except percentages) Net income $ 52.8 $ 39.0 35.4% $ 89.5 $ 67.2 33.2% Interest 4
Slide 18: 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 June 30, 2025 Six months ended June 30, 2025 Corporate and Corporate and E&M T&D Other Total E&M T&D Other Total (In millions) Net income $ 47.3 $ 17.8 $ (12.3) $ 52.8 $ 83.9 $ 2
Slide 19: 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 June 30, Six months ended June 30, 2025 2024 % change 2025 2024 % change Operating revenues: Electrical & Mechanical $ 713.6 $ 503.8 41.6% $ 1,361.8 $ 944.9
Slide 20: Reconciliation of EBITDA guidance
Reconciliation of EBITDA guidance Increased EBITDA guidance reconciliation for full-year 2025. Low High (In millions) Net income $ 145.0 $ 155.0 Interest expense 20.0 20.0 Income taxes 50.0 55.0 Depreciation and amortization 25.0 30.0 EBITDA $ 240.0 $ 255.0 20
Slide 21: Reconciliations of trailing 12-month EBITDA and net leverage
Reconciliations of trailing 12-month EBITDA and net leverage Reconciliations of trailing-twelve-month EBITDA as of June 30, 2025 and December 31, 2024. Twelve months Six months Twelve months Six months ended June 30, ended June 30, ended December ended June 30, 2025 2025 31, 2024 2024 (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 Six months ended June 30, 2025 2024 (In millions) Net cash used in investing activities $ (25.7) $ (11.5) Net cash provided by (used in) financing activities $ (8.1) $ 6.5 Net cash provided b
Slide 23: investors@everus.com
Contact: investors@everus.com 23
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