Everus Construction Group held its second-quarter 2026 earnings call on August 5, 2026 at 11:00 a.m. EDT, one day after its August 4 results release. The release reported Q2 revenue of $1.23 billion, up 33.7% year over year, and raised full-year 2026 guidance. This guide covers what the call contained, which figures are company-reported and which are not, and how to find verbatim wording before you quote it.
The call at a glance
- Event: Everus Q2 Earnings Call, August 5, 2026, 11:00 a.m. EDT. The company’s results release is dated August 4, 2026.
- Company speakers: CEO Jeff Thiede and CFO Max Marcy.
- Host: Paul Bartolai of Vallum Advisors introduced the call.
- Structure: operator instructions and introduction, then Thiede’s operating review, then Marcy’s financial update and guidance, then a question-and-answer session.
Where the transcript comes from
Two third-party transcript pages are circulating for this call: a Stock Analysis Q2 2026 transcript page dated August 5, 2026, and a Benzinga title-specific transcript page dated October 8, 2026. Neither is an official company transcript. Both are transcription products, so word-for-word wording can differ from what was said on the call. For exact quotes from management or analysts, check the replay on Everus’s investor-relations site.
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The company’s own documents are the reliable source for figures. These are the ones to cite:
- Everus results release, “Everus Reports Second Quarter 2026 Results, Raises 2026 Guidance,” August 4, 2026. The primary source for quarterly metrics, segment figures, guidance, capital expenditures, non-GAAP definitions, the Epsilon announcement, and webcast instructions.
- Everus Investor Relations overview. Business-line descriptions and the Q2 results and event listing. The page also shows a later September 1, 2026 notice on the Epsilon acquisition, which is covered below.
- SEC Form 8-K dated August 4, 2026. Confirms that the results press release was furnished as Exhibit 99.1. It corroborates the announcement date but does not contain the call transcript or detailed figures.
Headline results for Q2 2026
The table lists the figures from the August 4 release. Year-over-year comparisons are against Q2 2025 unless a different baseline is named.
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| Metric | Q2 2026 | Change | Basis and notes |
|---|---|---|---|
| Revenue | $1.23 billion | +33.7% | Marked by the company as a quarterly record |
| Net income | $83.9 million | +58.9% | Marked by the company as a quarterly record |
| Diluted EPS | $1.64 | +59.2% | Marked by the company as a quarterly record |
| EBITDA | $128.6 million | +52.7% | Non-GAAP; EBITDA margin 10.4% |
| Gross profit | $183.0 million | +52.6% | Up from $119.9 million in Q2 2025 |
| Gross margin | 14.9% | Up from 13.0% | Single-quarter figure; the release attributes gross profit growth to higher workloads, project execution, and project timing |
| Backlog | $4.55 billion | +52.8% vs. June 30, 2025; +41.0% vs. December 31, 2025 | Contracted work on hand, not guaranteed future revenue |
The release presents revenue, net income, and EPS as the headline measures. EBITDA and EBITDA margin are non-GAAP, and the company warns readers not to treat them as substitutes for GAAP results. Use the reconciliation in the release when you need to rebuild EBITDA from reported earnings.
Segment performance: electrical and mechanical versus transmission and distribution
Growth was uneven across the two segments. Electrical and mechanical (E&M) work covers electrical and communication wiring and infrastructure, fire-suppression systems, and mechanical piping and services. Transmission and distribution (T&D) work covers overhead and underground electrical, gas, and communication infrastructure.
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| Segment measure | Electrical and mechanical (E&M) | Transmission and distribution (T&D) |
|---|---|---|
| Revenue change, year over year | +$296.7 million, or +41.6% | +$15.1 million, or +7.1% |
| Net income | Not stated in the release figures reviewed here | $19.1 million, up 7.3% |
| Segment EBITDA | Not stated in the release figures reviewed here | $32.8 million, up 7.9% |
| Segment backlog | Not stated in the release figures reviewed here | $388.4 million at June 30, 2026, compared with $384.5 million at December 31, 2025 and $410.1 million at June 30, 2025 |
The T&D backlog was slightly higher than at year-end 2025 but below its level a year earlier. Revenue growth in the quarter came mainly from E&M.
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First-half 2026 results and organic growth
For the first six months of 2026, Everus reported revenue of $2.27 billion, up 29.8% from $1.75 billion in the first half of 2025. The company also said organic revenue rose 27.9% for the same period, excluding the contribution from its SE&M acquisition. Organic growth is a company-defined non-GAAP measure. The release’s reconciliation shows how it was calculated, so use that document when you explain the difference between reported and organic growth.
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Full-year 2026 guidance
Management raised its full-year 2026 outlook. The release states: “With our strong performance in the first half of the year and continued robust demand across our business, we are raising guidance on our full-year outlook.” The figures are management’s forecast, not realized results for the year.
| Item | 2026 expectation | Status and notes |
|---|---|---|
| Revenue | $4.5 billion to $4.7 billion | Raised in the August 4, 2026 release |
| EBITDA | $410 million to $425 million | Raised in the August 4, 2026 release; non-GAAP |
| Gross capital expenditures | $90 million to $100 million, or 1.9% to 2.2% of forecast revenue | Still expected to fall in this range, according to the release |
| Net leverage | 0.3x at quarter end | Reported as of June 30, 2026 quarter end |
On the call, the transcript pages attribute a target operating range of 1.5x to 2x for leverage to management. That statement does not appear in the release figures reviewed here, so confirm the wording against the official replay before quoting it.
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Epsilon Industries: what was announced and what came later
The August 4 release disclosed a definitive agreement, signed July 31, 2026, to acquire Epsilon Industries. Management described the deal as a way to expand off-site modular construction and prefabrication capabilities, extend geographic reach, and strengthen positions in key end markets. At the time of the Q2 results, the deal was an announced agreement.
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What management said on the call
The release contains the clearest management language on results and outlook. A second statement from the same release describes the company’s strategy: “We are confident that our commitment to our 4EVER strategic priorities position us to deliver another year of profitable growth and value for our shareholders.” This is management’s characterization of its outlook, not an independently verified fact.
Thiede’s operating review and Marcy’s financial update follow the same figures as the release. If you need direct quotes beyond these, use the official replay. Third-party transcript pages can mishear names, numbers, and qualifiers.
Analysts on the call
The transcript pages name four analysts: Brent Thielman, Manish Somaiya, Brian Brophy, and Joseph Osha. Search snippets do not reliably show which question each analyst asked or how management answered it. If you are summarizing the Q&A, check each exchange against the replay rather than relying on a summary.
How to cite the figures
- Attribute every headline number to the Everus results release dated August 4, 2026, and keep the comparison period attached to it.
- Label the record claims as company-marked Q2 2026 records, not as all-time records.
- Name EBITDA, EBITDA margin, and organic revenue as non-GAAP and use the release’s reconciliation when a figure is rebuilt.
- Describe the $4.55 billion backlog as work under contract, and the $4.5 billion to $4.7 billion revenue range as a company forecast.
- Describe Epsilon as a definitive agreement announced on August 4, and note the September 1 completion notice separately.
For transcript wording, use the Everus replay on its investor-relations site. For financial figures, use the August 4, 2026 release and its Form 8-K filing.
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