Everus Construction Group, Inc. ECG
On November 2, 2023, MDU Resources announced its intent to pursue a tax-free spinoff of Everus Construction (formerly known as MDU Construction Services Group, Inc.) from MDU Resources (the "Separation"). Prior to the Separation, Everus Construction was the construction services segment of MDU Resources and operated as a wholly owned subsidiary of CEHI, LLC ("Centennial"), which is a wholly owned subsidiary of MDU Resources. In anticipation of the Separation, MDU Resources formed a new wholly owned subsidiary, Everus Construction Group, Inc., that became the new parent company of Everus Construction.
On October 31, 2024, MDU Resources completed the Separation by transferring Everus Construction, inclusive of all its assets and liabilities, to Everus and distributing 100% of Everus' outstanding common stock to holders of record of MDU Resources' common stock as of the close of business on October 21, 2024 (the "Distribution"). The Separation was completed as a generally tax-free spin-off for U.S. federal income tax purposes. Following the Separation and Distribution, Everus became an independent, publicly traded company and is listed on the New York Stock Exchange under the ticker symbol "ECG."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $3.75B | $2.85B | $2.85B | $2.70B | — |
| Cost of revenue | $3.29B | $2.51B | $2.53B | $2.42B | — |
| Gross profit | $454.1M | $339.5M | $321.9M | $276.0M | — |
| SG&A | $189.3M | $149.5M | $131.4M | $111.4M | — |
| Operating income | $264.8M | $189.9M | $190.5M | $164.6M | — |
| Interest expense | $21.5M | $14.0M | $17.0M | $6.4M | — |
| Pre-tax income | $257.8M | $180.8M | $177.6M | $159.7M | — |
| Income tax | $72.3M | $49.5M | $45.3M | $40.8M | — |
| Net income | $201.8M | $143.4M | $137.2M | $124.8M | — |
| EPS, basic | 3.95 | 2.81 | 2.69 | 2.45 | — |
| EPS, diluted | 3.95 | 2.81 | 2.69 | 2.45 | — |
| Shares, diluted (wtd. avg.) | 51.1M | 51.1M | 51.0M | 51.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $170.5M | $86.0M | $1.6M | $2.1M | $668.0K |
| Inventory | $45.3M | $43.8M | $42.7M | — | — |
| Total current assets | $1.30B | $917.2M | $729.3M | — | — |
| Property, plant and equipment | $168.5M | $134.4M | $116.0M | — | — |
| Goodwill | $143.2M | $143.2M | $143.2M | — | — |
| Other intangibles | — | $116.0K | $2.0M | — | — |
| Total assets | $1.73B | $1.29B | $1.05B | — | — |
| Accounts payable | $226.3M | $138.1M | $116.6M | — | — |
| Short-term debt | $15.0M | $15.0M | $0 | — | — |
| Total current liabilities | $736.2M | $513.4M | $394.1M | — | — |
| Long-term debt | $266.5M | $280.6M | — | — | — |
| Total liabilities | $1.10B | $865.9M | $603.6M | — | — |
| Retained earnings | $485.7M | $284.0M | $312.7M | — | — |
| Total equity | $629.8M | $422.6M | $448.9M | $382.2M | $362.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $156.8M | $163.4M | $171.3M | -$25.5M | — |
| Depreciation and amortisation | $28.7M | $23.4M | $21.1M | $19.2M | — |
| Stock-based compensation | $6.3M | $1.6M | $804.0K | $1.1M | — |
| Capital expenditure | $66.8M | $48.3M | $35.6M | $35.8M | — |
| Investing cash flow | -$56.8M | -$37.1M | -$20.0M | -$24.6M | — |
| Financing cash flow | -$15.6M | -$41.9M | -$151.9M | $51.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0002015845-26-000010.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $2.70B | $2.85B | $2.85B | $3.75B |
| Gross profit | — | $276.0M | $321.9M | $339.5M | $454.1M |
| Net income | — | $124.8M | $137.2M | $143.4M | $201.8M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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