Everus Construction Group
Everus Construction Group is a U.S.-based electrical, mechanical, and transmission infrastructure construction services provider serving data center, utility, healthcare, and industrial clients, operating 9,000+ employees nationwide following its October 2024 spin-off from MDU Resources Group.
- Company typePublic
- Founded2024
- HeadquartersBismarck, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Everus Construction Group does
Everus Construction Group (NYSE: ECG) is a U.S. construction services provider headquartered in Bismarck, North Dakota, operating through two primary service lines: Electrical & Mechanical (E&M) construction and Transmission & Distribution (T&D) infrastructure. The E&M segment delivers electrical construction, mechanical systems, packaged controls and manufacturing, low-voltage systems, fire protection, modular offsite manufacturing, renewable energy installations, and specialized data center construction. The T&D segment covers transmission lines, substations, excavation and underground utility work, signals and lighting, and equipment rental, sales, and manufacturing. The company operates a decentralized model of specialized operating companies and employs more than 9,000 skilled craft workers across the United States.
The company was spun off from MDU Resources Group in October 2024 as an independent publicly traded entity and joined the S&P SmallCap 600 index the following month. Revenue is generated primarily through project-based B2B contracts with enterprise customers, structured as either cost-plus or fixed-price agreements, with revenue recognition driven by project completion milestones. Marquee customers span healthcare (Asante Rogue Regional Medical Center), hospitality (Fontainebleau Las Vegas), entertainment (Las Vegas Sphere), aviation (KCI Terminal Modernization), industrial (Lake Charles Coke Drum), and a growing book of data center and utility infrastructure work. In April 2026, the company completed its first acquisition as a standalone public entity, purchasing SE&M Constructors for $158 million to expand mechanical, electrical, and plumbing capabilities and geographic reach in the Southeast U.S.
FY 2025 revenue reached $3.75 billion (up 31.5% year-over-year), with record backlog of $3.23 billion at year-end expanding to $3.68 billion by Q1 2026 (up 20.4% YoY). Management raised FY 2026 revenue guidance to $4.3–$4.4 billion following the SE&M acquisition and strong Q1 2026 results. The company maintains a low-leverage balance sheet (net leverage of approximately 0.35x) with $285 million of available capacity under its term loan, supporting both organic growth and a stated M&A pipeline. The investment thesis centers on exposure to two secular tailwinds: AI-driven data center buildout and U.S. grid modernization/renewable interconnection.
Everus Construction Group firmographics
Firmographics- Name
- Everus Construction Group
- Legal name
- Everus Construction Group, Inc.
- Website
- https://mducsg.com
- Company type
- Public
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Everus Construction Group is a U.S.-based electrical, mechanical, and transmission infrastructure construction services provider serving data center, utility, healthcare, and industrial clients, operating 9,000+ employees nationwide following its October 2024 spin-off from MDU Resources Group.
- Ownership category
- akta.pro rank
Everus Construction Group industry classification
Industry- Product category
- Electrical & Mechanical Construction Services
- NAICS
- Power and Communication Line and Related Structures Construction (237130), Other Building Equipment Contractors (23829), Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing (532412)
- SIC
- Heavy Construction Other Than Bldg Const - Contractors (1600)
- akta.pro primary industry
- Construction Management (Agency/Owner’s Rep) (IMAFAAAC)
- akta.pro secondary industries
- Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ), Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls) (EUAEAAAM), Overhead & Underground Collection System Construction (MV/HV Lines, Duct Banks) (EUAEADAG), Overhead Distribution Line Construction (MV/LV) (EUAEACAA)
Keywords
Where Everus Construction Group is headquartered
LocationHeadquarters
- HQ city
- Bismarck
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Everus Construction Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Project-Based Construction Services: Revenue generated from construction project contracts across electrical, mechanical, transmission, and distribution segments. Revenue recognition is project-based with both cost-plus and fixed-price contract structures. Q1 2026 revenue of $1.04 billion, up 25.4% year-over-year. FY 2025 revenue of $3.75 billion. The Electrical & Mechanical segment is the primary revenue driver, with Q4 2025 revenue of $791.6 million growing 44% year-over-year.
- Maintenance and Retrofit Services: Recurring maintenance and retrofit services, particularly from the SE&M acquisition targeting pharmaceutical, industrial, and healthcare sectors, providing recurring revenue streams alongside project-based work.
- Equipment Rental, Sales & Manufacturing: Revenue from equipment rental, sales, and manufacturing operations within the Transmission & Distribution segment.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Everus Construction Group product offering
Product offeringCore offering
Everus Construction Group delivers project-based electrical, mechanical, transmission, and distribution construction services across the United States, serving data center, utility, healthcare, hospitality, and industrial end markets. The company specializes in MEP construction, modular offsite prefabrication, packaged controls manufacturing, and grid infrastructure, contracting directly with enterprise owners, general contractors, and utilities on cost-plus and fixed-price project agreements.
Product overview
Everus Construction Group is an industry-leading construction services provider offering two primary service lines: Electrical & Mechanical Services and Transmission & Distribution Services. The Electrical & Mechanical segment includes electrical construction, mechanical systems, packaged controls and manufacturing, low-voltage, industrial, renewable energy, fire protection, modular offsite manufacturing, and data center services. The Transmission & Distribution segment covers transmission infrastructure, substations, excavation and underground work, signals and lighting, and equipment rental operations. The company also provides Safety services across all projects. Everus operates as a unified construction services platform serving data center, utility, hospitality, high-tech, and industrial markets across the United States.
Differentiator
Problem solved
Functional benefit
Brands
- Building America's Future: Company tagline and brand positioning statement used across marketing materials.
Products and services
- Electrical & Mechanical Services
- Transmission & Distribution Services
- Safety Services
Quantifiable outcome
- Q1 2026 EPS of $1.14, beating estimates by 137.5% ($0.48 forecast)
- +3 more outcomes
Companies that use Everus Construction Group
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
Everus Construction Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Everus Construction Group partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- SE&M Constructors (SE&M Constructor Inc., SE&M of the Triangle, Inc., SECO Rentals, LLC)coreEverus acquired SE&M Constructors and affiliates for $158 million in cash (with potential earnout up to 8% of purchase price). SE&M, founded in 1923 and headquartered in Elm City, North Carolina, provides mechanical, electrical, and plumbing services to pharmaceutical, industrial, and healthcare sectors, generating $109 million in 2025 revenue with EBITDA margins in the high teens. This was Everus's first acquisition as a stand-alone public company.
Scale indicators7 records
Recent moves7 records
Expansion highlights4 records
Everus Construction Group competitors and assessment
Company assessmentDirect peers
- Quanta Services: Quanta Services is a leading infrastructure construction firm specializing in electric power, oil and gas, and communications infrastructure. It is a direct peer to Everus through its electric power transmission and distribution construction services and renewable energy buildout work.
- MasTec: MasTec is a diversified infrastructure construction company serving power delivery, communications, oil and gas, and clean energy end markets. It is a direct peer to Everus through overlapping electrical transmission, distribution, and clean energy construction capabilities.
- EMCOR Group: EMCOR Group provides electrical and mechanical construction, facilities services, and energy solutions across commercial, industrial, and utility end markets. It is a direct peer through its electrical and mechanical (E&M) construction services and data center MEP work that directly overlap Everus's core service lines.
- MYR Group: MYR Group is a specialty electrical construction services provider focused on transmission, distribution, substation, and commercial and industrial electrical construction. It is a direct peer through its T&D and electrical construction services matching Everus's core offerings.
- Comfort Systems USA: Comfort Systems USA is a leading provider of mechanical and electrical contracting services, including HVAC, plumbing, and electrical systems for commercial, industrial, and institutional customers. It is a direct peer through its mechanical and electrical construction services that closely match Everus's E&M segment.
- APi Group: APi Group is a global leader in safety, specialty, and industrial services including fire protection, HVAC, and specialty contracting. It is a direct peer through Everus's fire protection and specialty contracting services overlap.
- Dycom Industries: Dycom Industries provides specialty contracting services including engineering, aerial and underground construction, and maintenance for telecommunications and utility infrastructure. It is a direct peer through Everus's T&D underground and signals/lighting offerings and similar growth end-market exposure.
- IES Holdings: IES Holdings provides electrical and mechanical contracting services, including communications, building services, and infrastructure solutions for commercial and industrial customers. It is a direct peer through electrical and mechanical construction services and data center infrastructure exposure.
Broad incumbents
- Granite Construction: Granite Construction is a large diversified construction services company providing heavy civil, transportation, and materials services. It is a broad incumbent peer through overlapping infrastructure construction services, though less concentrated in the electrical and specialty MEP focus that defines Everus.
Regional players
- Construction Partners Inc. Construction Partners Inc. is a civil infrastructure services company operating across the Sun Belt states, providing highway, heavy civil, and infrastructure site preparation services. It is comparable to Everus through its infrastructure construction services, though focused primarily on civil rather than electrical/MEP.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Everus Construction Group social profiles
Digital presenceEverus Construction Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Everus Construction Group leadership team
Management profileNumber of profiles
Profiles4 records
Everus Construction Group subsidiaries and ownership
Company hierarchySubsidiaries3 records
Everus Construction Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Everus Construction Group M&A and investment
M&A and investmentM&A4 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Everus Construction Group
What does Everus Construction Group do?
Everus Construction Group delivers project-based electrical, mechanical, transmission, and distribution construction services across the United States, serving data center, utility, healthcare, hospitality, and industrial end markets. The company specializes in MEP construction, modular offsite prefabrication, packaged controls manufacturing, and grid infrastructure, contracting directly with enterprise owners, general contractors, and utilities on cost-plus and fixed-price project agreements.
Is Everus Construction Group a public or private company?
Everus Construction Group is a public company. It is classified as public and is currently operating.
When was Everus Construction Group founded?
Everus Construction Group was founded in 2024. It employs 1,001 to 5,000 people.
Where is Everus Construction Group based?
Everus Construction Group is headquartered in Bismarck, United States, in the North America region.
How does Everus Construction Group make money?
Three revenue lines are on record. Project-Based Construction Services are the primary driver. The others are maintenance and Retrofit Services and equipment Rental, Sales & Manufacturing.
Who are Everus Construction Group's main competitors?
Direct peers on record are Quanta Services, MasTec, EMCOR Group, MYR Group, Comfort Systems USA, APi Group, Dycom Industries and IES Holdings. Granite Construction is listed as a broad incumbent. Construction Partners Inc. is listed as a regional player.
Does Everus Construction Group have an API?
No public API is recorded for Everus Construction Group.
What industry is Everus Construction Group in?
Everus Construction Group's product category is Electrical & Mechanical Construction Services. Its primary akta.pro industry code is IMAFAAAC, Construction Management (Agency/Owner’s Rep), with a secondary code of EUAMAFAJ, Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE). Its NAICS code is 237130 and its SIC code is 1600.