XML 14 R2.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Operating revenues $ 760,985 $ 717,406 $ 2,090,047 $ 2,218,672
Cost of sales 671,085 632,499 1,836,853 1,976,534
Gross profit 89,900 84,907 253,194 242,138
Selling, general and administrative expenses 36,191 34,816 109,292 102,519
Operating income 53,709 50,091 143,902 139,619
Interest expense 2,851 4,596 8,823 13,483
Other income 1,071 1,208 3,683 2,705
Income before income taxes and income from equity method investments 51,929 46,703 138,762 128,841
Income taxes 13,995 11,423 37,606 32,822
Income from equity method investments 3,833 734 7,797 4,718
Net income $ 41,767 $ 36,014 $ 108,953 $ 100,737
Earnings per share:        
Basic (in dollars per share) $ 0.82 $ 0.71 $ 2.14 $ 1.98
Diluted (in dollars per share) $ 0.82 $ 0.71 $ 2.14 $ 1.98
Weighted average common shares outstanding:        
Basic (in shares) [1] 50,972,000 50,972,000 50,972,000 50,972,000
Diluted (in shares) [1] 50,972,000 50,972,000 50,972,000 50,972,000
[1]     Prior to the Separation (as defined below), Everus Construction had 1,000 common shares issued and outstanding. On October 31, 2024, as part of the Distribution (as defined below), 50,972,059 shares of Everus common stock were issued and outstanding. Basic and diluted earnings per share for periods prior to the Separation and Distribution have been retrospectively adjusted to reflect the Everus shares outstanding on the Distribution date. Refer to Note 1 and Note 2 for more information.