MYR Group Reports Record Q1 2026 Net Income, EPS, and Backlog with Strong Revenue Growth
MYRG has more than doubled off its 52-week low of $117.182.
Summary
MYR Group announced record first-quarter 2026 financial results, with net income and diluted EPS more than doubling year-over-year, alongside strong revenue growth and a record backlog.
Key Events · Earnings and Guidance · MYRG
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Record Quarterly Net Income
Net income reached a record $46.8 million, more than doubling from $23.3 million in Q1 2025.
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Record Diluted EPS
Diluted earnings per share hit a record $2.99, up from $1.45 in Q1 2025.
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Strong Revenue Growth
Quarterly revenues increased by 20% year-over-year to $1.00 billion, up from $833.6 million in Q1 2025.
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Record Backlog Achieved
Backlog grew to a record $2.84 billion as of March 31, 2026, an increase of 7.7% from the prior year.
Analysis · MYRG · Real Estate & Construction
MYR Group Inc. delivered exceptionally strong first-quarter 2026 financial results, reporting record net income, diluted EPS, EBITDA, and backlog. The significant year-over-year increases in revenue (20%), net income (101%), and EPS (106%) demonstrate robust operational performance and effective project execution. The improved gross margin and growing backlog further reinforce the company's strong market position in electric utility infrastructure and commercial/industrial construction. These results, coming as the stock trades near its 52-week high, provide a strong positive signal to investors, indicating sustained momentum and a favorable outlook for the remainder of 2026.
At the time of this filing, MYRG was trading at $337.76 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $5.2B. The 52-week trading range was $117.18 to $349.15. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.