MYR Group Inc. (MYRG) Earnings
MYR Group Inc. is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $2.59. MYRG has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +24.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $2.09 | $2.99 | +43.1% | $1.0B | +7.3% |
| 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% |
| Feb 22, 2023 | $1.06 | $1.46 | +37.7% | $864M | +16.5% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Rick Swartz mentioned strong first quarter financial results supported by ongoing work with long-term customers and selective pursuit of new opportunities. Kelly Huntington provided detailed financials showing revenues up, gross margin, operating income margins, SG&A expenses, tax rate, net income, EBITDA, backlog, cash flows, etc. Brian Stern discussed T&D segment strong results with bidding activity, project awards, and industry outlook. Don Egan talked about C&I segment strong results driven by core markets, project awards in data centers, water treatment plants, and focus on quality and safety.
Guidance
C&I operating margin target 6% to 9% for the rest of the year. T&D operating margin target 8% to 11% for the rest of the year. Overall revenue growth forecasted at around 12% this year. CapEx expected to trend to about 3% of revenue on a full year basis.
Segment performance
T&D segment: First quarter T&D revenues were $541 million, an increase of 17% compared to the same period last year. Increased primarily due to higher revenue on unit price and T&E contracts, partially offset by a decrease in revenue on fixed price contracts. Work performed under master service agreements increased to approximately 70% of T&D revenues. C&I segment: C&I revenues were $459 million, a record high for the C&I segment and an increase of 24% compared to the same period last year. Increased primarily due to higher revenue on fixed price contracts.
Risks & headwinds
Labor market tightness may impact future margins. Quarter-to-quarter performance can be lumpy due to project timing, weather, etc. Large transmission projects may have delayed start times affecting backlog and revenue generation.
Analyst Q&A
Q: Can you help us understand what led to the strength in C&I margins and what to expect going forward?
A: Backlog margins similar to past but less risk in contracts, focus on prefab to take labor risk out of field, some projects nearing completion with upsides, looking to increase margin profile to 6% to 9% for rest of year.
Q: Overall guidance for the year?
A: Revenue growth forecasted at around 12%, T&D margin profile targeted at 8% to 11% for rest of year.
Q: C&I business fixed price contracts mix?
A: Fixed price contracts now about 86% of mix, due to solid execution, less risk in contracts, customers trusting and releasing work with favorable terms.
Q: Cash flow from operations and free cash flow for rest of year?
A: DSO may rise to low 60s depending on new awards and project billing structures, CapEx expected to trend to 3% of revenue on full year basis with increase seen rest of year.
Q: What's driving structural margins higher in both segments?
A: Better contract management, terms and conditions, better execution on project side like pre-fab, kitting material, efficiency, not so much due to electrician labor constraints currently.
Q: Comparison of current environment to CREZ project in 2013-2014?
A: Build-out across US over next decade amplified from CREZ days, conversations with clients about projects starting beyond next few years, concerns about material and labor for future projects.
Q: Margin targets multiyear?
A: 6% to 9% for C&I and 8% to 11% for T&D are seen as operating within for this year, market not seen getting softer beyond.
Q: CapEx and prefab capacity?
A: Continue to invest in prefab, vast majority of CapEx goes to T&D side, strong balance sheet allows for organic growth and potential acquisitions or stock buybacks.