Everus Construction Group Inc. 2025年季度报告

FORM10-Q N/A(Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying 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 May 12, 2025:50,999,581shares. Industry Information Any industry data included in this Quarterly Report on Form 10-Q (“Quarterly Report”) regarding industry size and/or relativeindustry position is derived from a variety of sources, including company research, third-party studies and surveys, industry andgeneral publications, and estimates based on Everus Construction Group, Inc.’s (“Everus”) knowledge and experience in the industriesin which it operates. Everus’ estimates, if any, have been based on information obtained from its customers, suppliers, trade andbusiness organizations, and other contacts in the industry. Everus is responsible for all the disclosures contained in this QuarterlyReport, and Everus believes that any third-party data is generally reliable and that its estimates are accurate as of the date of this PART I — FINANCIAL INFORMATION Everus Construction Group, Inc.Condensed Consolidated Statements of Income Net income Everus Construction Group, Inc.Condensed Consolidated Balance Sheets(Unaudited) Everus Construction Group, Inc.Notes to Unaudited Condensed Consolidated Financial Statements Note 1 –Background and Nature of Operations Nature of Operations Everus Construction Group, Inc. (the “Company” or “Everus”) is a leading construction solutions provider headquartered inBismarck, North Dakota, offering specialty contracting services to a diverse set of end markets, which are provided to commercial,industrial, institutional, renewables, service, utility, transportation and other customers. The Company operates throughout most of the Electrical&Mechanical(“E&M”):Contracting services including construction and maintenance of electrical and Transmission&Distribution(“T&D”):Contracting services including construction and maintenance of overhead andunderground electrical, gas and communication infrastructure, as well as design, manufacturing and distribution of overhead and Separation from MDU Resources On November 2, 2023, MDU Resources Group, Inc. (“MDU Resources”) announced its intent to pursue a tax-free spinoff ofEverus Construction, Inc. (formerly known as MDU Construction Services Group, Inc.) (“Everus Construction”) from MDUResources (the “Separation”). Prior to the Separation, Everus Construction was the construction services segment of MDU Resourcesand operated as a wholly owned subsidiary of CEHI, LLC (“Centennial”), which is a wholly owned subsidiary of MDU Resources. Inanticipation of the Separation, MDU Resources formed a new wholly owned subsidiary, Everus Construction Group, Inc., that became On October 31, 2024, MDU Resources completed the Separation by transferring Everus Construction, inclusive of all its assetsand liabilities, to Everus and distributing50,972,059 shares of Everus common stock ($0.01 par value) to MDU Resourcesstockholders of record as of October 21, 2024 (the “Distribution”). The Distribution was structured as a pro rata distribution of oneshare of Everus common stock for every four shares of MDU Resources common stock (such ratio, the “Distribution Ratio”). MDU As a result of the Separation and Distribution, Everus is an independent publicly traded company and its common stock is listedunder the ticker symbol “ECG” on the New York Stock Exchange. The Separation and Distribution was completed pursuant to a separation and distribution agreement as well as other agreementswith MDU Resources, including, but not limited to, a transition services agreement, a tax matters agreement and an employee mattersagreement. Refer to Note 14 – Related-Party Transactions for additional information on the transition services agreement. The Note 2 –Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation Prior to the Separation, Everus Construction historically operated as a wholly owned subsidiary of Centennial and an indirect,wholly owned subsidia