Earnings Releases·Oct 28, 2026, 4:03 PM ET

MYR Group Inc. — Third Quarter 2026 Earnings Summary

Third-quarter 2026 revenues reached a record $1.26 billion, up $308.6 million year-over-year, while net income more than doubled to $60.0 million ($3.82 per share) from $32.1 million in the prior year period.
Consolidated gross margin expanded to 13.6% from 11.8% in the prior year, driven by strong performance in the Commercial and Industrial ($704.5 million) and Transmission and Distribution ($554.5 million) segments.
Total backlog increased 38.2% to $3.68 billion as of September 30, 2026, supported by the integration of Valley Electric and Comet Electric acquisitions.
The Board approved a new share repurchase program authorizing up to $100.0 million of common stock, effective November 4, 2026, to be funded via cash on hand and the revolving credit facility.
Management expressed confidence in continued momentum and execution strength, citing healthy demand across core markets and significant infrastructure opportunities ahead.