Everus Construction Group, Inc. (ECG) · Nov 3, 2026 · Earnings

Everus earnings crush estimates as 2026 guidance jumps again

Beat — Diluted EPS $1.79 vs ~$1.31 consensus

Everus earnings beat consensus by a wide margin, with 36% organic growth, stronger margins, and another major 2026 guidance increase.

Everus is a specialty contractor in an aggressive expansion phase, targeting data centers, high-tech facilities and other infrastructure-heavy markets while adding modular construction capacity through acquisitions. Before this filing, management had already raised 2026 guidance to $4.5–$4.7 billion of revenue and $410–$425 million of EBITDA after the SE&M deal, while the Epsilon acquisition was expected to deepen its off-site construction exposure.

The quarter materially exceeded the standing bar. Third-quarter revenue reached $1.38 billion versus published expectations around $1.19 billion, while diluted EPS was $1.79 versus roughly $1.31 consensus—an unusually wide earnings beat after ECG had already been outperforming estimates. The filing reports, “Revenues increased 40.3% to $1.38billion in the third quarter of 2026, compared to $986.8million in the third quarter of 2025.”

Metric	Q3 2026	Q3 2025	Consensus / prior guide
Revenue (Financial Highlights)	$1.384B (+40.3%)	$986.8M	~$1.19B
Diluted EPS (Financial Highlights)	$1.79 (+61.3%)	$1.11	~$1.31
EBITDA (Financial Highlights)	$140.2M (+57.5%)	$89.0M
EBITDA margin (Financial Highlights)	10.1% (+110 bps)	9.0%
FY26 revenue guidance (Outlook)	$5.0B–$5.1B		$4.5B–$4.7B
FY26 EBITDA guidance (Outlook)	$485M–$495M		$410M–$425M
Backlog (Backlog)	$5.48B (+86.1% YoY)	$2.95B

The quality of growth is better than the headline acquisition math. Organic revenue increased 35.8% in the quarter, with E&M organic revenue up 42.3%, so most of the acceleration is coming from existing operations rather than newly acquired businesses. E&M EBITDA margin also expanded to 10.5% from 8.7%, supported by project execution and timing, although a $7.6 million dispute-resolution benefit helped gross profit. 〔0〕

The guidance increase is the clearest change to the business story. ECG lifted its full-year revenue midpoint by roughly $450 million and its EBITDA midpoint by $72.5 million from the prior outlook, not merely reaffirming an already elevated plan. The company said, “Based on our results and continued confidence in the sustained momentum across our business, we expect a strong finish to the year and are once again raising our full-year outlook.” 〔1〕

Backlog now supports the higher outlook, but leverage has risen with the expansion. Backlog reached $5.48 billion, up 86.1% year over year, while net leverage increased to 0.7x from 0.4x at year-end as ECG funded acquisitions and drew on its expanded credit facility. That is a meaningful use of balance-sheet capacity, but it remains modest relative to trailing EBITDA; operating cash flow and free cash flow also rose sharply to $267.3 million and $221.2 million, respectively.

Epsilon is now an execution item rather than an announcement. The acquisition was already disclosed and completed before this report, so its existence is not new; the incremental signal is that integration is “progressing as planned” while ECG’s broader organic growth remained strong. The filing states, “As previously announced, we are very pleased to have completed the acquisition of Epsilon Industries.” 〔2〕

Bottom line: This is a clearly stronger-than-expected quarter that advances Everus’s existing growth story rather than merely confirming it. The wide earnings beat, improving margins, exceptional backlog growth and second consecutive guidance increase make the business outlook meaningfully more credible, with higher debt and acquisition integration the main execution considerations.

What to watch next

Q3 earnings webcast, November 4

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

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Everus earnings crush estimates as 2026 guidance jumps again

What to watch next

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