Everus Construction hires new VP of corporate development

BISMARCK, N.D. - Everus Construction Group (NYSE: ECG), a construction services company with a market capitalization of $1.88 billion, has appointed Timothy R. Sznewajs as its new vice president of corporate development and strategy, the company revealed earlier this week. The announcement comes as ECG’s stock trades near $37, having declined about 44% year-to-date according to InvestingPro data. Sznewajs, a seasoned professional with over two decades of experience in construction services investment banking, will be instrumental in steering Everus’s growth through strategic mergers, acquisitions, and organic investments.

Previously, Sznewajs served as a managing director at D.A. Davidson & Co., where he honed his expertise in the construction sector, particularly in electrical and mechanical services, as well as transmission and distribution. His role involved developing a leading middle-market investment banking practice with a focus on mergers and acquisitions.

Jeffrey S. Thiede, president and CEO of Everus, expressed confidence in Sznewajs’s ability to contribute significantly to the company’s 4EVER strategy, aimed at delivering sustained profitable growth and long-term value for shareholders. The company currently maintains healthy financials with a current ratio of 1.79 and operates with moderate debt levels, as revealed by InvestingPro analysis, which shows eight additional key insights about the company’s financial health. Thiede highlighted Sznewajs’s extensive market knowledge, relationships, and transaction experience as key assets for Everus’s future endeavors.

Sznewajs’s career in the investment banking industry includes a notable tenure co-leading FMI Capital Advisors, the investment banking group of FMI Corp., and an early stint in the M&A department of Goldman Sachs & Co. He is well-educated, holding an MBA from Northwestern University and a bachelor’s degree in economics from the University of Notre Dame.

Everus Construction Group, a member of the S&P SmallCap 600, is known for its wide range of construction services across the United States, catering to various sectors such as utility, transportation, and renewable energy. The company offers specialized contracting services through its electrical and mechanical, as well as transmission and distribution divisions.

While the company’s announcement includes forward-looking statements regarding expectations for Sznewajs’s contributions and the company’s growth, these are subject to a variety of risks and uncertainties. With earnings scheduled for April 30 and two analysts recently revising their earnings estimates downward, investors seeking deeper insights can access comprehensive analysis through InvestingPro, which currently shows the stock trading close to its Fair Value. Everus has cautioned that actual results may differ from projected outcomes and has referred to its most recent Form 10-K filed with the SEC for a discussion of potential factors that could influence its performance.

This news is based on a recent press release statement from Everus Construction Group.

In other recent news, Everus has garnered attention from multiple analyst firms with updates on their stock ratings and future prospects. Stifel recently adjusted its price target for Everus shares to $55 from $67, while maintaining a Buy rating. Despite this revision, Stifel’s outlook remains optimistic, citing potential long-term benefits from increased undergrounding activities following the Los Angeles wildfires. Additionally, Everus is navigating challenges such as rising material costs due to tariffs, with management expressing confidence in their strategic approach to mitigate these impacts. Oppenheimer also reaffirmed an Outperform rating on Everus, with a price target of $60, emphasizing the company’s commitment to its long-term growth prospects. The firm noted that Everus has not experienced any slowdown in data center activities, despite a recent decline in backlog attributed to a shift towards larger contracts. Both Stifel and Oppenheimer recognize the potential for Everus to benefit from its strategic focus on the Transmission and Distribution segment, which offers higher margins and more predictable work. These developments reflect a cautious yet positive outlook for Everus amid ongoing market challenges.

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