Everus Revenue Reaches $1.23 Billion in Second Quarter, Raises 2026 Outlook
Key Facts
Everus reported revenue of $1.23 billion in the second quarter of 2026, up 33.7% year over year, and raised its full-year revenue and EBITDA outlook after first-half results. Net income was $83.9 million, up 58.9% from the same quarter of 2025, while net income margin was 6.8%, according to the company's results statement. The figures provide operating context for assessing the company ahead of its third-quarter results call scheduled for November 4, 2026. But third-quarter figures included in the draft cannot be presented as confirmed results; verified figures from an open official announcement for that quarter are not available here. Accordingly, the published picture centers on second-quarter results and the growth and outlook update they showed.
Everus raised its 2026 revenue outlook range to $4.5 billion to $4.7 billion, from the previous range of $4.3 billion to $4.4 billion. It also raised its EBITDA range to $410–425 million from $345–360 million, according to the company's statement. The revisions reflect a higher full-year estimate after first-half results and set the updated outlook as a benchmark for tracking whether performance in the rest of the year is on plan. The company linked part of its business growth to demand in commercial and industrial markets. The outlook update comes as attention turns to the third-quarter call scheduled for November 4.
Electrical and mechanical work was the biggest driver of revenue growth in the second quarter, with revenue rising 41.6% to $1.01 billion. The company attributed the increase mainly to higher revenue in commercial and industrial markets, particularly continued growth in the data center market. That puts the segment's expansion at the center of the explanation for overall revenue growth, which was 33.7% over the same period. The results statement also said data center growth continued within the segment's markets, alongside broader commercial and industrial demand. The available information did not provide third-quarter figures to measure whether the trend continued after June.
Business growth coincided with an expansion in the backlog, which stood at $4.55 billion on June 30, 2026, up 52.8% from the same date in 2025 and 41.0% from the end of 2025. The chief executive said project bookings exceeded $2 billion in the second quarter, contributing to a record backlog. The quote described the backlog as $4.6 billion, the approximate figure cited by the chief executive, while the company reported the more precise figure of $4.55 billion. The chief executive pointed to continued strength in data center, hospitality and advanced technology markets. The accumulated backlog provides an indication of the volume of work booked with the company, alongside quarterly revenue growth.
In a separate development in 2026, Everus completed its acquisition of Epsilon Industries on September 1 for $295 million in cash, subject to customary closing adjustments. The company said the deal would expand its off-site modular construction capabilities and support its presence in markets including data centers, advanced manufacturing and health care. The transaction adds another avenue for expanding the business alongside the growth recorded in electrical and mechanical work. However, the information provided does not specify a financial impact from the deal on third-quarter results or the annual outlook range. The third-quarter results call on November 4 remains the next date announced by the company.