Everus Construction (ECG)
Market Price (11/5/2026): $79.3 | Market Cap: $4.0 BilSector: Industrials | Industry: Construction & Engineering
Everus Construction (ECG)
Market Price (11/5/2026): $79.3Market Cap: $4.0 BilSector: IndustrialsIndustry: Construction & Engineering
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 31% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37% Megatrend and thematic driversMegatrends include Sustainable Infrastructure, Water Infrastructure, and Renewable Energy Transition. Themes include Waste Management Solutions, Show more. | Key risksECG key risks include [1] a securities class action lawsuit alleging fraud regarding its backlog conversion cycle and [2] operational delays in converting its increasingly complex project backlog into revenue. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 31% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37% |
| Megatrend and thematic driversMegatrends include Sustainable Infrastructure, Water Infrastructure, and Renewable Energy Transition. Themes include Waste Management Solutions, Show more. |
| Key risksECG key risks include [1] a securities class action lawsuit alleging fraud regarding its backlog conversion cycle and [2] operational delays in converting its increasingly complex project backlog into revenue. |
Qualitative Assessment
AI Analysis | Feedback
Everus Construction (ECG) stock has lost about 35% since 7/31/2026 because of the following key factors:
1. Negative Market Reaction to Q3 Fiscal 2026 Earnings Despite Strong Operational Performance.
Everus Construction Group's stock gapped down and fell significantly on November 4, 2026, following the release of its fiscal Q3 2026 earnings on November 3, 2026, after market close. This sharp decline occurred despite the company reporting record results, including revenues of $1.38 billion (up 40.3% year-over-year and beating analyst estimates of $1.19 billion) and diluted earnings per share (EPS) of $1.79 (exceeding estimates of $1.31). The company also increased its full-year 2026 guidance to revenues of $5.0 billion-$5.1 billion and EBITDA of $485 million-$495 million. The negative stock reaction following a strong earnings beat suggests that the market may have already priced in positive expectations, or investors reacted to other factors such as increased expenses, debt levels, or a revised valuation outlook.
2. General Construction Sector Headwinds and Financial Distress.
The broader construction sector faced significant challenges during fiscal Q3 2026, marked by widespread financial distress. A report indicated that 108,340 construction firms were experiencing "significant financial distress" in Q3 2026, representing a 4.6% year-over-year increase from Q3 2025. These pressures stem from soaring costs, persistent supply chain issues, and regulatory challenges. Additionally, the industry grappled with labor capacity constraints, particularly a high demand for skilled trades like electricians and pipefitters, making project delivery more complex and potentially impacting profit margins. This broader sector weakness likely created a negative sentiment that affected Everus Construction, despite its strong individual performance.
Show more
Everus Construction (ECG) stock has lost about 35% since 7/31/2026 because of the following key factors:
1. Negative Market Reaction to Q3 Fiscal 2026 Earnings Despite Strong Operational Performance.
Everus Construction Group's stock gapped down and fell significantly on November 4, 2026, following the release of its fiscal Q3 2026 earnings on November 3, 2026, after market close. This sharp decline occurred despite the company reporting record results, including revenues of $1.38 billion (up 40.3% year-over-year and beating analyst estimates of $1.19 billion) and diluted earnings per share (EPS) of $1.79 (exceeding estimates of $1.31). The company also increased its full-year 2026 guidance to revenues of $5.0 billion-$5.1 billion and EBITDA of $485 million-$495 million. The negative stock reaction following a strong earnings beat suggests that the market may have already priced in positive expectations, or investors reacted to other factors such as increased expenses, debt levels, or a revised valuation outlook.
2. General Construction Sector Headwinds and Financial Distress.
The broader construction sector faced significant challenges during fiscal Q3 2026, marked by widespread financial distress. A report indicated that 108,340 construction firms were experiencing "significant financial distress" in Q3 2026, representing a 4.6% year-over-year increase from Q3 2025. These pressures stem from soaring costs, persistent supply chain issues, and regulatory challenges. Additionally, the industry grappled with labor capacity constraints, particularly a high demand for skilled trades like electricians and pipefitters, making project delivery more complex and potentially impacting profit margins. This broader sector weakness likely created a negative sentiment that affected Everus Construction, despite its strong individual performance.
3. Analyst Downgrades and Price Target Adjustments.
Several analyst firms revised their ratings or price targets for Everus Construction Group during the period, contributing to negative investor sentiment. For instance, Cantor Fitzgerald lowered its price objective from $174.00 to $152.00 and issued a "neutral" rating on August 13, 2026. Later, Zacks Research downgraded the stock from a "strong-buy" to a "hold" rating on October 6, 2026. These adjustments, even with some positive initiations or reaffirmations, indicated a more cautious outlook from a portion of the analyst community regarding the stock's future potential or current valuation.
Show less
Stock Movement Drivers
Fundamental Drivers
The -36.5% change in ECG stock from 7/31/2026 to 11/4/2026 was primarily driven by a -44.2% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 125.43 | 79.71 | -36.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,957 | 4,267 | 7.8% |
| Net Income Margin (%) | 5.6% | 6.0% | 5.6% |
| P/E Multiple | 28.7 | 16.0 | -44.2% |
| Shares Outstanding (Mil) | 51 | 51 | 0.0% |
| Cumulative Contribution | -36.5% |
Market Drivers
7/31/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ECG | -36.5% | |
| Market (SPY) | 2.6% | 12.8% |
| Sector (XLI) | -5.8% | 57.3% |
Fundamental Drivers
The -45.9% change in ECG stock from 4/30/2026 to 11/4/2026 was primarily driven by a -57.1% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 147.43 | 79.71 | -45.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,746 | 4,267 | 13.9% |
| Net Income Margin (%) | 5.4% | 6.0% | 10.7% |
| P/E Multiple | 37.3 | 16.0 | -57.1% |
| Shares Outstanding (Mil) | 51 | 51 | -0.1% |
| Cumulative Contribution | -45.9% |
Market Drivers
4/30/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ECG | -45.9% | |
| Market (SPY) | 7.0% | 35.2% |
| Sector (XLI) | -2.7% | 56.6% |
Fundamental Drivers
The -12.3% change in ECG stock from 10/31/2025 to 11/4/2026 was primarily driven by a -42.8% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 90.89 | 79.71 | -12.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,269 | 4,267 | 30.5% |
| Net Income Margin (%) | 5.1% | 6.0% | 17.6% |
| P/E Multiple | 28.0 | 16.0 | -42.8% |
| Shares Outstanding (Mil) | 51 | 51 | -0.1% |
| Cumulative Contribution | -12.3% |
Market Drivers
10/31/2025 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ECG | -12.3% | |
| Market (SPY) | 13.4% | 43.6% |
| Sector (XLI) | 10.2% | 53.5% |
Fundamental Drivers
nullnull
Market Drivers
10/31/2023 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ECG | ||
| Market (SPY) | 89.7% | 45.6% |
| Sector (XLI) | 79.2% | 51.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ECG Return | - | - | - | 25% | 30% | -7% | 52% |
| Peers Return | 62% | 7% | 45% | 69% | 59% | 11% | 651% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| ECG Win Rate | - | - | - | 100% | 75% | 55% | |
| Peers Win Rate | 67% | 47% | 68% | 67% | 62% | 51% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| ECG Max Drawdown | - | - | - | - | -56% | -53% | |
| Peers Max Drawdown | -19% | -27% | -29% | -23% | -37% | -44% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PWR, EME, MTZ, MYRG, FIX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)
How Low Can It Go
| Event | ECG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.9% | -18.8% |
| % Gain to Breakeven | 38.6% | 23.1% |
| Time to Breakeven | 33 days | 79 days |
In The Past
Everus Construction's stock fell -27.9% during the 2025 US Tariff Shock. Such a loss loss requires a 38.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | ECG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.9% | -18.8% |
| % Gain to Breakeven | 38.6% | 23.1% |
| Time to Breakeven | 33 days | 79 days |
In The Past
Everus Construction's stock fell -27.9% during the 2025 US Tariff Shock. Such a loss loss requires a 38.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Everus Construction (ECG)
Everus Construction Group (ECG) is a prominent construction services provider based in the United States, committed to "Building America’s Future™." The company leverages innovation and deep expertise to deliver a wide array of specialized construction services across the nation.
ECG distinguishes itself through its mastery and precise execution across a full spectrum of complex construction disciplines. It serves as a trusted partner, providing essential and specialized construction solutions to customers who require high-quality, expertly executed projects within various markets throughout America.
AI Analysis | Feedback
Everus Construction is like the Fluor Corporation for the US construction industry.
Everus Construction is like AECOM, but focused on hands-on, expert construction and building services.
AI Analysis | Feedback
- Specialty Construction Services: Everus Construction Group provides a full spectrum of industry-leading specialty construction services, ensuring exacting execution for diverse building and infrastructure projects.
AI Analysis | Feedback
Everus Construction Group (ECG) operates as a business-to-business (B2B) service provider, offering specialty construction services to other organizations rather than directly to individual consumers. As the company description highlights its role in "safely Building America’s Future™" through "a full spectrum of specialty construction services," its major customers would typically be other companies or large public entities involved in significant infrastructure, industrial, and commercial development projects.
While specific major customer names for Everus Construction Group are not identifiable from the provided background information, its clientele would generally fall into the following categories based on its operational description:
- Government Agencies: Federal, state, and local government bodies requiring specialized construction and infrastructure development for public works, transportation systems, utilities, and public facilities.
- Industrial & Energy Sector Companies: Corporations within heavy industry, manufacturing, power generation, oil and gas, and renewable energy sectors that necessitate highly specialized construction, maintenance, and expansion services for their complex facilities and operational infrastructure.
- Commercial Real Estate Developers and Large Property Owners: Firms undertaking significant commercial, institutional, or mixed-use development projects, including office complexes, hospitals, educational campuses, and large-scale retail or residential developments.
- Other General Contractors: Who may subcontract highly specialized components of larger projects to Everus Construction Group, leveraging ECG's specific expertise and capabilities.
AI Analysis | Feedback
AI Analysis | Feedback
Jeffrey S. Thiede President and Chief Executive Officer
Mr. Thiede was named President and Chief Executive Officer of Everus Construction Group, formerly MDU Construction Services Group, effective April 30, 2013, and served as President from 2012 to 2013. Prior to these promotions, he held several executive and management positions with Everus, including president of Capital Electric Construction Company from 2006 to 2011 and OEG, Inc., formerly Oregon Electric Group, Inc., from 2004 to 2011, both subsidiaries of Everus. Mr. Thiede has 20 years of experience at Everus.
Maximillian J. Marcy Vice President, Chief Financial Officer and Treasurer
Mr. Marcy was named Vice President, Chief Financial Officer and Treasurer, effective upon completion of the spinoff of Everus Construction Group from MDU Resources Group. His appointment as CFO was effective November 1, 2024, and he joined Everus on August 12, 2024. Mr. Marcy has a strong background in finance, accounting, cashflow management, business support, performance reporting, and financial analysis. He previously served as Vice President II and business unit Chief Financial Officer of the Engineering Adhesives Segment at H.B. Fuller Company.
Thomas D. Nosbusch Executive Vice President and Chief Operating Officer
Mr. Nosbusch was named Executive Vice President and Chief Operating Officer, effective upon completion of the spinoff of Everus Construction Group from MDU Resources Group. He previously served as executive vice president of Everus and has 25 years of experience with MDU Resources' companies. Mr. Nosbusch began his career as a customer service engineer for Montana-Dakota Utilities and transitioned to working as a business development manager for both Montana-Dakota Utilities and Everus.
Paul R. Sanderson Vice President, Chief Legal Officer and Corporate Secretary
Mr. Sanderson was named Vice President, Chief Legal Officer and Secretary of Everus Construction Group, effective upon completion of the spinoff of Everus from MDU Resources Group. He previously served as Vice President, Chief Legal Officer and Secretary of MDU Resources, a position he held since 2023. Prior to his role at MDU Resources, Mr. Sanderson was a partner in Evenson Sanderson PC since 2013 and a partner with Zuger Kirmis & Smith in Bismarck, North Dakota.
Jon B. Hunke Vice President and Chief Accounting Officer
Mr. Hunke was named Vice President and Chief Accounting Officer of Everus Construction Group, effective upon completion of the spinoff of Everus from MDU Resources Group. He was previously Vice President of accounting and enterprise information technology for Everus and has been with the company since 2003. Mr. Hunke has a strong background in accounting consolidation, SOX oversight, and best practices. He also served as treasurer and controller from 2014 to 2015.
AI Analysis | Feedback
The key risks to Everus Construction Group (ECG) primarily stem from the nature of the construction industry and its operational model:
- Dependence on Fixed-Price Contracts: A substantial portion of Everus Construction Group's business is based on fixed-price contracts. While these provide revenue predictability, they expose the company to potential cost overruns and margin pressures if unforeseen project complexities or increases in material costs occur.
- Highly Competitive Industry: Everus Construction Group operates within a highly competitive landscape, facing numerous regional, national, and international rivals. Some competitors may possess greater financial resources or specialized expertise. This intense competition can lead to pricing pressures, elevated costs, and a reduction in market share, ultimately threatening profitability and growth.
- Economic Volatility and Supply Chain Disruptions: The construction industry is inherently sensitive to economic cycles. Economic downturns, coupled with potential supply chain disruptions, inflation, and volatility in commodity prices, could significantly and adversely affect Everus Construction Group's business operations, project volumes, and overall financial performance.
AI Analysis | Feedback
- Advanced Prefabrication and Modular Construction: This emerging trend involves manufacturing building components or entire modules off-site in factory settings, then transporting and assembling them on-site. This model offers significant advantages in terms of speed, cost efficiency, quality control, and waste reduction compared to traditional on-site construction. For Everus Construction, which specializes in a "full spectrum of specialty construction services" typically executed on-site, the increasing adoption of prefabrication and modular methods could reduce the demand for traditional on-site labor and specialized services, shifting the value chain towards manufacturing and assembly processes.
- 3D Printing of Buildings: This technology enables the automated construction of structures or components through additive manufacturing. While still evolving, 3D printing offers the potential for significantly reduced labor, faster construction times, and design flexibility. As 3D printing capabilities advance and scale for various building types, it could directly compete with traditional construction methods that rely on manual labor and specialized on-site skills, potentially disrupting Everus's market for its conventional construction services.
AI Analysis | Feedback
Everus Construction Group (ECG) operates within the specialty contracting services market, primarily across the United States. The company's main services are divided into two segments: Electrical & Mechanical (E&M) and Transmission & Distribution (T&D) specialty contracting.
The addressable market for Everus Construction's services is best represented by the U.S. specialty contracting industry. This market has an estimated annual revenue of approximately $875 billion. Globally, the specialty trade contractors market was valued at USD 7.79 trillion in 2025 and is projected to grow to USD 16.39 trillion by 2032.
AI Analysis | Feedback
Everus Construction Group (ECG) is expected to drive future revenue growth over the next 2-3 years through several key factors:
- Continued strong demand within the Electrical & Mechanical (E&M) segment: The E&M segment has been a significant driver of record revenues for the company, and this trend is anticipated to persist. This segment provides essential services such as the construction and maintenance of electrical and communication wiring, fire suppression systems, and mechanical piping for both public and private sector clients.
- Growth in key end markets: Everus Construction Group is positioned to benefit from sustained demand in specific end markets, including data centers, utilities, transportation, and renewable energy. Company management frequently discusses demand in these submarkets, indicating them as strategic areas for future business.
- Expansion of the project backlog: A consistently growing project backlog provides strong visibility into future revenue. For example, Everus reported its backlog reached $3.23 billion at the end of fiscal year 2025, demonstrating a robust pipeline of future work.
- Strategic acquisitions: Management has highlighted "strategic optionality for acquisitions" as a component of its growth strategy. This suggests that inorganic growth through targeted acquisitions will likely contribute to expanding revenue in the coming years.
AI Analysis | Feedback
Capital Allocation Decisions
Share Issuance
- Everus Construction Group was spun off from MDU Resources Group, Inc. on October 31, 2024, with its common stock distributed to MDU Resources stockholders.
- As of December 31, 2025, 51,006,719 shares of common stock were issued and outstanding, increasing from 50,980,924 shares as of December 31, 2024.
Inbound Investments
- Capital International Investors initiated a new position in Everus Construction Group during the third quarter, acquiring 1,935,774 shares valued at approximately $165.99 million.
- WASATCH ADVISORS LP significantly increased their holdings in Q4 2025, adding 2,160,337 shares with an estimated value of $184.8 million.
- Several institutional investors, including Bank of Montreal Can and Gabelli Funds LLC, have also recently increased their stakes in the company.
Outbound Investments
- Everus Construction Group is actively pursuing strategic merger and acquisition (M&A) opportunities to expand its market presence and diversify its services.
- The company's strong balance sheet provides financial flexibility to execute on these growth strategies and potential acquisitions.
Capital Expenditures
- Capital expenditures for 2025 totaled $66.8 million, an increase from $48.3 million in 2024.
- The primary focus of these capital expenditures was on vehicle, equipment, and building investments to support the company's growth.
- For 2026, Everus anticipates gross capital expenditures to be between $90 million and $100 million, aligning with its long-term strategy to invest 2.1% to 2.4% of forecasted revenues in organic growth initiatives.
Peer Outperformance in Construction & Engineering
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering ← | 29 | -12.8% | 78.4% | 144.7% | FIX 1084% · STRL 944% · AGX 620% |
| Marine Transportation | 5 | 28.7% | 38.5% | 123.2% | MATX 149% · KEX 123% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 12.2% | 58.9% | 107.9% | ALSN 278% · WAB 230% · CAT 216% |
| Aerospace & Defense | 54 | -7.4% | 61.7% | 59.6% | ATI 980% · FTAI 885% · HWM 598% |
| Industrial Machinery & Supplies & Components | 71 | 6.3% | 50.5% | 38.7% | CRS 887% · MLI 333% · SYM 274% |
| Trading Companies & Distributors | 19 | 17.2% | 41.9% | 38.4% | DXPE 356% · AIT 215% · URI 202% |
| Rail Transportation | 7 | 37.9% | 59.1% | 33.8% | CSX 57% · UNP 46% · NSC 34% |
| Diversified Support Services | 33 | 21.0% | 37.1% | 28.3% | CXW 235% · OPLN 162% · CACI 120% |
| Building Products | 34 | -3.2% | 12.5% | 21.7% | MOD 793% · GFF 380% · TT 142% |
| Cargo Ground Transportation | 16 | 33.7% | 17.8% | 7.7% | XPO 276% · R 265% · ARCB 26% |
| Office Services & Supplies | 10 | 29.7% | 26.2% | 3.1% | TILE 170% · PBI 166% · HNI 48% |
| Industrial Conglomerates | 17 | 23.0% | -3.6% | 1.0% | CSW 125% · CSL 83% · DD 74% |
| Electrical Components & Equipment | 39 | -5.2% | 68.2% | -2.8% | POWL 1633% · VRT 667% · BE 564% |
| Data Processing & Outsourced Services | 6 | -14.9% | 3.1% | -12.6% | EXLS 60% · BR 21% · MMS -12% |
| Security & Alarm Services | 9 | -49.8% | 13.7% | -19.8% | BCO 70% |
| Research & Consulting Services | 13 | 4.9% | -16.9% | -20.8% | HURN 224% · FCN 35% · BAH 11% |
| Agricultural & Farm Machinery | 16 | 17.3% | -6.1% | -21.8% | BLBD 184% · DE 106% · TTC 19% |
| Environmental & Facilities Services | 29 | -29.1% | 25.0% | -25.8% | GEO 210% · CLH 173% · RSG 96% |
| Passenger Airlines | 11 | 10.5% | 55.1% | -28.2% | LTM 3048% · UAL 136% · DAL 126% |
| Air Freight & Logistics | 12 | -23.0% | -5.0% | -37.3% | FDX 86% · EXPD 60% · CHRW 57% |
| Human Resource & Employment Services | 22 | 21.6% | -6.2% | -42.7% | ADP 50% · FA 22% · PAYX 13% |
| Passenger Ground Transportation | 3 | -13.2% | 46.3% | -53.7% | UBER 54% · CAR -54% · LYFT -62% |
| Airport Services | 4 | -48.6% | -62.5% | -86.1% | JOBY -48% |
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 422.45 |
| Mkt Cap | 20.8 |
| Rev LTM | 14,919 |
| Op Inc LTM | 1,400 |
| FCF LTM | 943 |
| FCF 3Y Avg | 957 |
| CFO LTM | 1,186 |
| CFO 3Y Avg | 1,128 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 28.1% |
| Rev Chg 3Y Avg | 18.0% |
| Rev Chg Q | 33.1% |
| QoQ Delta Rev Chg LTM | 7.8% |
| Op Inc Chg LTM | 56.1% |
| Op Inc Chg 3Y Avg | 61.8% |
| Op Mgn LTM | 7.3% |
| Op Mgn 3Y Avg | 6.6% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 7.8% |
| CFO/Rev 3Y Avg | 7.7% |
| FCF/Rev LTM | 6.7% |
| FCF/Rev 3Y Avg | 6.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Electrical & Mechanical (E&M) | 2,921 | 2,031 | 2,135 | 1,989 |
| Transmission & Distribution (T&D) | 849 | 837 | 735 | 711 |
| Corporate and Other | 0 | 0 | 0 | 0 |
| Eliminations | -23 | -19 | -15 | |
| Total | 3,746 | 2,850 | 2,854 | 2,699 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Electrical & Mechanical (E&M) | 218 | 137 | 134 | 105 |
| Transmission & Distribution (T&D) | 90 | 85 | 74 | 72 |
| Corporate and Other | -43 | -32 | -17 | -13 |
| Total | 265 | 190 | 191 | 165 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Electrical & Mechanical (E&M) | 1,048 | 764 |
| Transmission & Distribution (T&D) | 456 | 411 |
| Other assets | 268 | 161 |
| Elimination of intercompany receivables | -42 | -48 |
| Total | 1,729 | 1,288 |
Price Behavior
| Market Price | $79.71 | |
| Market Cap ($ Bil) | 4.1 | |
| First Trading Date | 11/01/2024 | |
| Distance from 52W High | -52.9% | |
| 50 Days | 200 Days | |
| DMA Price | $113.36 | $125.97 |
| DMA Trend | down | up |
| Distance from DMA | -29.7% | -36.7% |
| 3M | 1YR | |
| Volatility | 77.9% | 70.1% |
| Downside Capture | 334.62 | 271.00 |
| Upside Capture | 237.65 | 268.00 |
| Correlation (S&P 500) | 33.7% | 49.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.59 | 2.57 | 2.53 | 2.73 | 2.70 | 0.08 |
| Up Beta | 6.17 | 1.45 | 1.57 | 3.36 | 3.19 | -0.01 |
| Down Beta | 2.39 | 3.32 | 3.48 | 1.71 | 1.83 | -0.07 |
| Up Capture | 326% | 240% | 217% | 307% | 660% | 654% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 10 | 21 | 31 | 67 | 131 | 255 |
| Down Capture | 411% | 255% | 277% | 244% | 171% | 111% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 12 | 22 | 33 | 59 | 120 | 243 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECG | |
|---|---|---|---|---|
| ECG | -11.7% | 70.1% | 0.12 | - |
| Sector ETF (XLI) | 10.8% | 17.4% | 0.42 | 53.5% |
| Equity (SPY) | 13.2% | 12.9% | 0.68 | 43.7% |
| Gold (GLD) | 1.0% | 28.8% | 0.03 | 21.4% |
| Commodities (DBC) | 35.9% | 21.2% | 1.34 | 0.8% |
| Real Estate (VNQ) | 14.3% | 14.1% | 0.70 | -7.3% |
| Bitcoin (BTCUSD) | -28.2% | 43.4% | -0.65 | 26.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECG | |
|---|---|---|---|---|
| ECG | 8.7% | 66.0% | 0.59 | - |
| Sector ETF (XLI) | 12.1% | 17.6% | 0.51 | 51.7% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 45.6% |
| Gold (GLD) | 17.3% | 19.1% | 0.73 | 12.4% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 6.8% |
| Real Estate (VNQ) | 1.8% | 18.9% | -0.01 | 10.8% |
| Bitcoin (BTCUSD) | 5.5% | 51.5% | 0.29 | 24.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECG | |
|---|---|---|---|---|
| ECG | 4.3% | 66.0% | 0.59 | - |
| Sector ETF (XLI) | 13.4% | 20.1% | 0.58 | 51.7% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 45.6% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 12.4% |
| Commodities (DBC) | 7.4% | 18.1% | 0.33 | 6.8% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 10.8% |
| Bitcoin (BTCUSD) | 61.0% | 66.2% | 1.01 | 24.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/5/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2026 | -29.3% | ||
| 8/4/2026 | 3.4% | -1.2% | -17.2% |
| 5/5/2026 | 0.5% | -5.3% | -8.1% |
| 2/24/2026 | 24.8% | 11.4% | 18.3% |
| 11/4/2025 | 7.7% | 15.4% | 5.9% |
| 8/12/2025 | 4.4% | -0.6% | 4.5% |
| 5/13/2025 | 17.3% | 14.7% | 17.5% |
| 2/11/2025 | -18.2% | -31.9% | -44.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 4 | 5 |
| # Negative | 2 | 4 | 3 |
| Median Positive | 7.7% | 13.1% | 17.5% |
| Median Negative | -23.7% | -3.3% | -17.2% |
| Max Positive | 24.8% | 15.4% | 25.7% |
| Max Negative | -29.3% | -31.9% | -44.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2026 | -29.3% | ||
| 8/4/2026 | 3.4% | -1.2% | -17.2% |
| 5/5/2026 | 0.5% | -5.3% | -8.1% |
| 2/24/2026 | 24.8% | 11.4% | 18.3% |
| 11/4/2025 | 7.7% | 15.4% | 5.9% |
| 8/12/2025 | 4.4% | -0.6% | 4.5% |
| 5/13/2025 | 17.3% | 14.7% | 17.5% |
| 2/11/2025 | -18.2% | -31.9% | -44.8% |
| 11/6/2024 | 13.7% | 8.4% | 25.7% |
| SUMMARY STATS | |||
| # Positive | 7 | 4 | 5 |
| # Negative | 2 | 4 | 3 |
| Median Positive | 7.7% | 13.1% | 17.5% |
| Median Negative | -23.7% | -3.3% | -17.2% |
| Max Positive | 24.8% | 15.4% | 25.7% |
| Max Negative | -29.3% | -31.9% | -44.8% |
Recent Forward Guidance
Updated 11/4/2026Latest: Q3 2026 Earnings Reported 11/3/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenues | Reported | 5.00 Bil | 5.05 Bil | 5.10 Bil | 9.8% | Raised | Guidance: 4.60 Bil for 2026 | |
| 2026 EBITDA | Reported | 485.00 Mil | 490.00 Mil | 495.00 Mil | 17.4% | Raised | Guidance: 417.50 Mil for 2026 | |
| 2026 Gross Capital Expenditures | Reported | 90.00 Mil | 95.00 Mil | 100.00 Mil | 0.0% | Affirmed | Guidance: 95.00 Mil for 2026 | |
| 2026 Gross Capital Expenditures % of Revenue | Reported | 1.8% | 1.9% | 2.0% | ||||
Prior: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 4.50 Bil | 4.60 Bil | 4.70 Bil | 5.7% | Raised | Guidance: 4.35 Bil for 2026 | |
| 2026 EBITDA | Reported | 410.00 Mil | 417.50 Mil | 425.00 Mil | 18.4% | Raised | Guidance: 352.50 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 90.00 Mil | 95.00 Mil | 100.00 Mil | 0 | Affirmed | Guidance: 95.00 Mil for 2026 | |
Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 4.30 Bil | 4.35 Bil | 4.40 Bil | 4.8% | Raised | Guidance: 4.15 Bil for 2026 | |
| 2026 EBITDA | Reported | 345.00 Mil | 352.50 Mil | 360.00 Mil | 7.6% | Raised | Guidance: 327.50 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 90.00 Mil | 95.00 Mil | 100.00 Mil | 0 | Affirmed | Guidance: 95.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/24/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 4.10 Bil | 4.15 Bil | 4.20 Bil | 15.3% | Higher New | Guidance: 3.60 Bil for 2025 | |
| 2026 EBITDA | Reported | 320.00 Mil | 327.50 Mil | 335.00 Mil | 11.0% | Higher New | Guidance: 295.00 Mil for 2025 | |
| 2026 Capital Expenditures | Reported | 90.00 Mil | 95.00 Mil | 100.00 Mil | 40.7% | Higher New | Guidance: 67.50 Mil for 2025 | |
Insider Activity
Updated 9/1/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sparby, David M | Direct | Buy | 8182026 | 144.95 | 1,000 | 144,950 | 2,849,427 | Form | |
| 2 | Sanderson, Paul R | VP, CLO & Corporate Secretary | Direct | Sell | 8112026 | 136.69 | 3,300 | 451,077 | 2,590,277 | Form |
| 3 | Hernandez, Helena Mercedes | Direct | Buy | 12082025 | 92.18 | 250 | 23,045 | 194,500 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sparby, David M | Direct | Buy | 8182026 | 144.95 | 1,000 | 144,950 | 2,849,427 | Form | |
| 2 | Sanderson, Paul R | VP, CLO & Corporate Secretary | Direct | Sell | 8112026 | 136.69 | 3,300 | 451,077 | 2,590,277 | Form |
| 3 | Hernandez, Helena Mercedes | Direct | Buy | 12082025 | 92.18 | 250 | 23,045 | 194,500 | Form |
Investor Activity (13F)
Updated Nov 5, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Construction & Engineering Resources |
| Engineering News-Record (ENR) |
| Construction Dive |
| Civil Engineering Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.