Filing Flows › Everus Construction Group (ECG) › Q3 2025
Everus Construction Group (ECG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Everus Construction Group (ECG) reported revenue of $987M for the third quarter 2025 (Q3 2025), +30% from a year earlier and +7% from the quarter before. Operating margin was 7.3%, net earnings $57.0M (5.8% of revenue).
Everus Construction Group, Q3 2025: revenue $987M (+30% year over year), operating margin 7.3%, net earnings $57.0M, operating cash flow $76.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $987M | +7% | +30% |
| Gross profit | $124M | +4% | +38% |
| Operating profit | $72.4M | -0.2% | +35% |
| Net earnings | $57.0M | +8% | +36% |
| Operating cash flow | $76.2M | +201% | -3% |
| Free cash flow | $65.7M | +436% | +8% |
What changed
Revenue was $986.8M in Q3 2025, up 30% year over year and up 7% from the previous quarter. E&M was the largest line at 78% of revenue. E&M added $230.8M year over year (up 43%), 102% of the total change. T&D declined 2%.
Gross margin was 12.6%, up 0.8 points from a year earlier. Operating profit was $72.4M, a 7.3% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 8% reached operating profit, above the 7% margin then. Operating expenses grew 43% against revenue growth of 30%. Net earnings were $57.0M, up 36% year over year. The effective tax rate was 26.6%.
Operating cash flow was $76.2M (down 3% year over year), 134% of net earnings. Non-cash charges added back $7.3M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $10.0M. Capital expenditures of $10.5M left free cash flow of $65.7M.
Questions
What was Everus Construction Group's revenue in the third quarter 2025?
Everus Construction Group (ECG) reported revenue of $987M for the third quarter 2025 (Q3 2025), +30% from a year earlier and +7% from the quarter before.
Was Everus Construction Group profitable in the third quarter 2025?
Operating profit was $72.4M (7.3% of revenue) and net earnings $57.0M.