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Everus Construction Group (NYSE: ECG) announced its participation in the upcoming Wolfe Research Small and Mid-Cap Conference, a virtual event scheduled for December 5. President and CEO Jeffrey S. Thiede and CFO Maximillian J Marcy will represent the company and conduct one-on-one meetings with registered investors. Interested parties can obtain attendance information through Wolfe Research sales representatives.
Everus Construction Group (NYSE: ECG) reported strong Q3 2024 financial results with revenues of $761.0 million, up 6.1% year-over-year. Net income increased 16.1% to $41.8 million, with earnings per share of 82 cents, up 15.5%. EBITDA grew 12.1% to $65.0 million. The company's backlog reached a record $2.88 billion, up 43.5% from prior year-end. Everus completed its spinoff from MDU Resources Group on Oct. 31, 2024, and reiterated its 2024 guidance with expected revenues of $2.65-2.85 billion and EBITDA of $220-240 million.
Everus Construction Group (NYSE: ECG) has scheduled its third quarter 2024 earnings release for November 6, 2024, after market close. The company will host a webcast on November 7, 2024, at 8:30 a.m. EST to discuss financial results and recent events, followed by a Q&A session. The webcast will be accessible through the company's investor relations website, with presentation materials available under the 'Events & Presentations' tab. Participants can join via web or phone, with both toll-free and international dial-in options available.
MDU Resources Group has completed the spinoff of its construction services subsidiary, Everus Construction Group, which is now trading independently on NYSE under ticker 'ECG'. The separation was executed through a pro rata distribution where MDU shareholders received one share of Everus stock for every four MDU shares held as of October 21, 2024. The distribution is expected to be tax-free for U.S. federal income tax purposes. This strategic move positions MDU Resources as a pure-play regulated energy delivery business, following the previous spinoff of Knife River
Everus Construction Group (NYSE: ECG) has completed its spinoff from MDU Resources Group (NYSE: MDU) and commenced trading on the NYSE. The separation was executed through a pro rata distribution where MDU stockholders received one share of ECG common stock for every four MDU shares held on October 21. Jeffrey S. Thiede, president and CEO, emphasized the company's position as a major specialty construction services provider, focusing on data center growth, grid modernization, and high-tech reshoring. The company aims to implement its 4EVER strategy and disciplined capital allocation initiatives as a standalone entity to drive profitable growth.
MDU Resources Group, Inc. (NYSE: MDU) has announced that its construction services subsidiary, Everus Construction Group, will be listed on the NYSE under the ticker symbol ECG following its planned spinoff in late 2024. The company has filed a Form 10 registration statement with the SEC. MDU stockholders will receive one share of ECG for every four shares of MDU stock held, with fractional shares sold and proceeds distributed in cash. The spinoff is expected to be tax-free for U.S. federal income tax purposes.
Everus will hold an Investor Day on October 17, 2024, at the NYSE to present investment highlights, operations, financial performance, and growth prospects. The event will be webcast. This move is part of MDU Resources' strategy to become a pure-play regulated energy delivery business, providing stockholders with two distinct investment opportunities.
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