Everus Construction Group, Inc.
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 5, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended June 30, 2026
or
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from _____________ to ______________
Commission File Number:001-42276
(Exact name of registrant as specified in its charter)
| Delaware | 99-1952207 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 1730 Burnt Boat Drive Bismarck, North Dakota | 58503 |
|---|---|
| (Address of principal executive offices) | (Zip code) |
(701)221-6400
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of exchange on which registered |
|---|---|---|
| Common Stock, par value $0.01 per share | ECG | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐.
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐No ☒.
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of August 3, 2026:51,063,836 shares.
INDEX
| Page | |
|---|---|
| Industry Information | 2 |
| Part I -- Financial Information | 3 |
| Item 1. Financial Statements. (Unaudited) | 3 |
| Condensed Consolidated Statements of Income - Three and Six Months Ended June 30, 2026 and 2025 | 3 |
| Condensed Consolidated Balance Sheets - June 30, 2026 and December 31, 2025 | 4 |
| Condensed Consolidated Statements of Equity - Three and Six Months Ended June 30, 2026 and 2025 | 5 |
| Condensed Consolidated Statements of Cash Flows - Six Months Ended June 30, 2026 and 2025 | 6 |
| Notes to Condensed Consolidated Financial Statements | 7 |
| 1. Background and Nature of Operations | 7 |
| 2. Basis of Presentation and Summary of Significant Accounting Policies | 7 |
| 3. Revenue from Contracts with Customers | 11 |
| 4. Acquisition | 16 |
| 5. Goodwill and Other Intangible Assets | 18 |
| 6. Fair Value Measurements | 20 |
| 7. Debt | 22 |
| 8. Leases | 23 |
| 9. Earnings Per Share | 25 |
| 10. Stock-Based Compensation | 26 |
| 11. Income Taxes | 27 |
| 12. Segment Information | 27 |
| 13. Commitments, Contingencies and Guarantees | 32 |
| 14. Related-Party Transactions | 33 |
| 15. Subsequent Events | 34 |
| Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. | 35 |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk. | 51 |
| Item 4. Controls and Procedures. | 52 |
| Part II -- Other Information | 53 |
| Item 1. Legal Proceedings. | 53 |
| Item 1A. Risk Factors. | 53 |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. | 53 |
| Item 3. Defaults Upon Senior Securities. | 53 |
| Item 4. Mine Safety Disclosures. | 53 |
| Item 5. Other Information. | 53 |
| Item 6. Exhibits. | 54 |
| Signatures | 55 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.