MYR Group Inc.
- Open
- 288.50
- Day high
- 288.50
- Day low
- 280.89
- Prev close
- 286.46
- Volume
- 419K
- Mkt cap
- $4.4B
- P/E (TTM)
- 26.6
- EPS (TTM)
- $10.63
- P/B
- 5.8
- P/S
- 1.1
- Yield
- —
- Per share
- —
MYR Group Inc. (MYRG) is a Industrials company listed on NASDAQ. The stock is up 56% over the past year. Drillr has 2 published research articles covering MYRG.
MYR Group Inc. (MYRG) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MYRG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $2.62 | $3.17 | +21.0% | $1.1B | +8.6% |
| Apr 30, 2026 | $2.09 | $2.99 | +43.1% | $1.0B | +7.6% |
| Feb 26, 2026 | $1.73 | $2.33 | +34.7% | $974M | +6.8% |
| Oct 29, 2025 | $1.82 | $2.05 | +12.6% | $950M | +5.9% |
| Jul 30, 2025 | $1.56 | $1.70 | +9.0% | $900M | -3.7% |
| Apr 30, 2025 | $1.23 | $1.45 | +17.9% | $834M | +6.1% |
| Feb 26, 2025 | $0.75 | $0.99 | +32.0% | $830M | -6.5% |
| Jul 31, 2024 | $1.07 | $-0.91 | -185.0% | $829M | -5.4% |
| May 1, 2024 | $1.16 | $1.12 | -3.4% | $816M | -14.3% |
| Feb 28, 2024 | $1.50 | $1.43 | -4.7% | $1.0B | +15.7% |
| Oct 25, 2023 | $1.30 | $1.28 | -1.5% | $939M | +7.1% |
| Jul 26, 2023 | $1.28 | $1.33 | +3.9% | $889M | +2.7% |
MYRG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 4, 2026 | LUCKY DONALD C.I.director | Sell | 12,123 | $449.30 |
| Jun 4, 2026 | LUCKY DONALD C.I.director | Sell | 62 | $451.22 |
| Jun 4, 2026 | LUCKY DONALD C.I.director | Sell | 80 | $453.17 |
| Jun 4, 2026 | Hartwick Kenneth Michaeldirector | Sell | 3,500 | $450.50 |
| Jun 4, 2026 | LUCKY DONALD C.I.director | Sell | 2,410 | $450.49 |
| Jun 2, 2026 | Huntington Kelly Michelleofficer: Senior VP and CFO | Sell | 120 | $456.85 |
| Jun 2, 2026 | Huntington Kelly Michelleofficer: Senior VP and CFO | Sell | 440 | $453.20 |
| Jun 2, 2026 | O'Connor Shirindirector | Sell | 569 | $446.60 |
| Jun 2, 2026 | O'Connor Shirindirector | Sell | 489 | $447.76 |
| Jun 2, 2026 | O'Connor Shirindirector | Sell | 416 | $448.65 |
| Jun 2, 2026 | Huntington Kelly Michelleofficer: Senior VP and CFO | Sell | 601 | $458.61 |
| Jun 2, 2026 | O'Connor Shirindirector | Sell | 469 | $452.94 |
| Jun 2, 2026 | Huntington Kelly Michelleofficer: Senior VP and CFO | Sell | 759 | $460.03 |
| Jun 2, 2026 | O'Connor Shirindirector | Sell | 567 | $442.35 |
| Jun 2, 2026 | Huntington Kelly Michelleofficer: Senior VP and CFO | Sell | 80 | $453.77 |
Source: MYRG SEC Form 4 filings, latest Jun 4, 2026. For informational purposes only — not investment advice.
See the full MYRG insider & 13F page →MYRG research & analysis
[MYRG] MYR Group Thesis 2026: Grid + Data Center Supercycle Drives Margin Expansion
MYR Group FY2025 operating income surged to ~$167M (+208% YoY) at ~4.6% OI margin as electrical contractor benefited from dual tailwinds: utility T&D capex acceleration (~$2.1B T&D revenue) and hyperscaler data center electrical buildout (~42% of C&I backlog, ~$1.55B segment). Backlog reached ~$3.3B — approximately 11 months of forward revenue. FY2026 thesis: sustained AI infrastructure investment (Microsoft/Google/Amazon multi-year capex commitments) maintains C&I data center mix at 40-45%; FERC Order 1977 and IIJA funding sustains T&D capex cycle; execution discipline on fixed-price C&I contracts (after FY2024 cost overrun episode) maintains OI margin at 4-5%+ range.
Power Grid Construction Now Capped by Installation Capacity
Contact Energy, Mercury NZ and Alfen told August 2026 calls that build and installation capacity, not permits or demand, now sets power delivery.
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MYR Group Inc. company profile
Overview
MYR Group Inc. (NASDAQ:MYRG) is a leading electrical construction company founded in 1891 and headquartered in Henderson, Colorado. The company provides comprehensive electrical infrastructure services across the United States and Canada through its subsidiaries. MYR Group went public in 2008 and has established itself as a prominent contractor serving both utility companies and commercial/industrial clients. The company has achieved record revenues for nine consecutive years through 2023, demonstrating consistent growth in the expanding electrical infrastructure market driven by grid modernization, renewable energy adoption, and increasing electricity demand from data centers and artificial intelligence applications.
Business
MYR Group operates in the electrical construction industry, providing design, engineering, construction, maintenance, and repair services for electrical infrastructure. The company operates through two primary business segments that serve different market needs. The Transmission and Distribution (T&D) segment focuses on electrical utility infrastructure, including high-voltage transmission lines, electrical substations, and lower-voltage distribution systems. This segment also handles renewable power facilities and provides emergency restoration services during storms and natural disasters. The T&D segment primarily serves investor-owned utilities, cooperatives, government-funded utilities, independent power producers, and industrial facility owners. Based on recent financial data, this segment typically generates approximately 55-60% of total company revenues. The Commercial and Industrial (C&I) segment provides electrical services for non-utility customers, including design, installation, maintenance, and repair of commercial and industrial wiring systems. This segment also handles specialized installations such as traffic networks, bridge and tunnel lighting, and transportation control systems. Key markets include airports, hospitals, data centers, hotels, stadiums, manufacturing plants, waste-water treatment facilities, and mining operations. The C&I segment generally accounts for 40-45% of total revenues and serves general contractors, facility owners, governmental agencies, and developers. The electrical construction industry has experienced significant growth driven by several factors: aging electrical infrastructure requiring modernization, increasing electricity demand from data centers and AI applications, renewable energy integration requirements, and government infrastructure investment programs. The industry is characterized by project-based work with varying contract durations and complexity levels.
Revenue model
MYR Group generates revenue primarily through project-based electrical construction contracts using multiple pricing models. The company employs both fixed-price contracts, where they assume cost risk in exchange for predetermined revenue, and time-and-equipment (T&E) contracts, where customers pay for actual time and materials used. Master Service Agreements (MSAs) provide ongoing relationships with utilities and large customers, creating more predictable revenue streams for maintenance and smaller projects. The company's customers pay for electrical construction services upon project completion or milestone achievement. In the T&D segment, primary customers include large utility companies, independent power producers, and government entities that require electrical infrastructure for power generation and distribution. The C&I segment serves general contractors, facility owners, and developers who need electrical systems for commercial and industrial buildings. Several factors influence MYR Group's profitability margins. Positive margin drivers include strong electricity demand growth (particularly from data centers and AI), aging infrastructure requiring replacement, government infrastructure spending, and the company's selective bidding approach that emphasizes profitable projects. The company benefits from long-term customer relationships through MSAs, which provide recurring revenue opportunities. Margin pressures come from labor shortages and wage inflation in skilled electrical trades, supply chain disruptions affecting material costs and availability, and competitive bidding environments. Weather-related delays can impact project timelines and profitability. Additionally, the company has experienced challenges with certain clean energy projects, particularly solar installations, which have resulted in cost overruns and margin compression. Material cost fluctuations, especially for copper and steel used in electrical infrastructure, can significantly impact project economics if not properly managed through contract terms.
Competitive moat
MYR Group operates in a moderately defensible market position with several competitive advantages, though the moat is not exceptionally strong. The company's primary moat stems from its specialized expertise and established customer relationships in electrical construction, particularly in complex transmission and distribution projects that require significant technical knowledge, safety certifications, and bonding capacity. The company benefits from high barriers to entry in utility-scale electrical work, including requirements for specialized equipment, skilled labor, safety certifications, and substantial bonding capacity that smaller competitors cannot easily obtain. Long-term Master Service Agreements with utilities create switching costs for customers and provide recurring revenue streams. MYR Group's 130+ year operating history and reputation for safety and reliability provide competitive advantages in winning new contracts. However, the company faces significant competitive pressures. The electrical construction industry includes numerous well-capitalized competitors, including large national firms like Quanta Services and smaller regional specialists. The business is highly cyclical and project-dependent, making it vulnerable to economic downturns and changes in customer capital spending priorities. Labor shortages in skilled trades create both opportunities and challenges, as the company must compete for workers while potentially benefiting from reduced competition. Potential disruption risks include technological changes in electrical infrastructure (such as smart grid technologies), shifts in energy generation mix affecting transmission requirements, and potential automation in construction processes. The company's selective approach to clean energy projects, while prudent given recent cost overruns, could limit growth opportunities if renewable energy becomes a dominant market segment. Overall, MYR Group has a moderate moat based on specialized capabilities and relationships, but faces ongoing competitive and technological pressures.
Risks & safety
MYR Group demonstrates a moderate margin of safety with generally solid financial fundamentals, though some metrics warrant attention. • Liquidity and Debt: Strong current ratio of 1.31x with $266 million in working capital. Low debt-to-equity ratio of 0.24x indicates conservative capital structure. However, cash position is relatively low at $11 million, requiring careful cash flow management. • Profitability Concerns: Recent earnings volatility with Q2 2024 net loss of $15 million due to problematic clean energy projects. Full-year 2024 net income of $30 million represents significant decline from 2023's $91 million, indicating execution challenges. • Valuation Metrics: Current P/E ratio of 19.4x appears reasonable but elevated given recent earnings decline. EV/EBITDA of 14.1x suggests moderate valuation. Price-to-book ratio of 3.3x indicates premium to book value. • Cash Flow: Positive free cash flow of $70 million in Q1 2025 shows improvement, but full-year 2024 free cash flow of only $11 million indicates working capital challenges. Operating cash flow generation has been inconsistent. • Other Considerations: Large project backlog of $2.64 billion provides revenue visibility, but includes potentially problematic clean energy projects. Recent share repurchase activity demonstrates management confidence but reduces cash reserves.
Recent development
Over the past few years, MYR Group has undergone significant strategic evolution in response to changing market conditions and operational challenges. The company has adopted a more selective bidding approach, particularly for clean energy projects, after experiencing substantial cost overruns and margin compression on solar installations during 2024. This selectivity reflects lessons learned from problematic projects that negatively impacted earnings, with management now emphasizing "the right price and the right customer" for solar work. The company has strategically focused on expanding Master Service Agreements with utility customers, which provide more predictable revenue streams and stronger customer relationships. This approach has proven successful in both T&D and C&I segments, with multiple new MSAs secured across various geographic regions. Market positioning shifts have emphasized high-growth sectors, particularly data centers driven by artificial intelligence demand. MYR Group has secured significant data center projects, including a recent $90 million verbal award in Colorado, positioning the company to benefit from the projected $150+ billion data center construction market through 2028. The company has also maintained focus on core markets including healthcare, transportation, and industrial facilities. Operational improvements include enhanced project management processes to avoid the cost overruns experienced in 2024, stronger contract terms to protect against material cost inflation and delays, and continued investment in workforce development to address skilled labor shortages. The company has also implemented more rigorous project selection criteria, declining opportunities that don't meet profitability thresholds. Capital allocation strategy has evolved to balance growth investments with shareholder returns, including a new $75 million share repurchase program while maintaining capacity for potential acquisitions and organic growth investments.
MYRG company profile · for informational purposes only — not investment advice.
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