Quarterly ResultApr 29, 2026, 04:12 PM
MYRG Q1 Revenue $1.00B; Net Income $46.8M; Backlog $2.84B
AI Summary
MYR Group Inc. announced record first-quarter 2026 financial results, with revenues reaching $1.00 billion, a significant increase from the prior year. The company achieved record quarterly net income of $46.8 million, or $2.99 per diluted share, and record EBITDA of $81.5 million. Additionally, MYR Group reported a record backlog of $2.84 billion, reflecting strong momentum and strategic customer relationships. Management expressed confidence in sustaining this performance throughout 2026 due to solid execution and a favorable market outlook.
Key Highlights
- Record Q1 net income $46.8M ($2.99/diluted share).
- Record Q1 EBITDA $81.5M.
- Record backlog $2.84B, up 7.7% YoY.
- Q1 revenues $1.00B, up $166.8M YoY.
- T&D segment revenue $541.0M, up $79.2M YoY.
- C&I segment revenue $459.4M, up $87.6M YoY.
- Gross margin 13.4%, up from 11.6% YoY.