MYR Group (NASDAQ:MYRG) Announces Earnings Results, Beats Expectations By $0.85 EPS

MYR Group (NASDAQ:MYRG) released its quarterly earnings results on Wednesday. The utilities provider reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.85, FiscalAI reports. MYR Group had a return on equity of 24.17% and a net margin of 4.13%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The firm’s revenue was up 32.5% on a year-over-year basis.

MYR Group Stock Up 5.0%

MYR Group stock opened at $279.92 on Thursday. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 26.56 and a beta of 1.32. The company’s 50 day simple moving average is $291.06 and its 200 day simple moving average is $332.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.40 and a quick ratio of 1.40. MYR Group has a fifty-two week low of $199.30 and a fifty-two week high of $503.57.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of MYR Group from $445.00 to $393.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Zacks Research cut MYR Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Weiss Ratings lowered MYR Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 2nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $331.00 target price on shares of MYR Group in a research report on Thursday, October 22nd. Finally, Robert W. Baird set a $363.00 price objective on MYR Group in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MYR Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $404.20.

MYR Group News Summary

Here are the key news stories impacting MYR Group this week:

• Positive Sentiment: Significant earnings and revenue beat: MYR Group reported diluted EPS of $3.82, well above the $2.97 analyst consensus and up from $2.05 a year earlier. Revenue reached a record $1.26 billion, topping the $1.16 billion estimate and increasing 32.5% year over year. MYRG Q3 EPS report
• Positive Sentiment: Profitability improved sharply: Net income nearly doubled to $60.0 million, while gross margin expanded to 13.6% from 11.8%. Record quarterly EBITDA of $110.0 million reflected stronger project productivity, favorable job closeouts and higher-margin work. MYR Group third-quarter results
• Positive Sentiment: Strong forward demand: Backlog rose 38.2% year over year to a record $3.68 billion, led by Commercial & Industrial backlog of $2.39 billion. C&I revenue increased substantially, supported partly by the Valley Electric and Comet Electric acquisitions, while Transmission & Distribution revenue also grew.
• Positive Sentiment: Shareholder return support: The board authorized a share repurchase program of up to $100 million beginning November 4, 2026. Buybacks can support per-share earnings and signal management’s confidence in the company’s cash-generation outlook.
• Neutral Sentiment: Acquisition-related costs increased: SG&A, intangible-asset amortization and interest expense rose because of the Valley acquisition and investments supporting growth. These expenses could weigh on future margins, although operating income and EBITDA still improved considerably.
• Negative Sentiment: Cash flow and leverage warrant monitoring: Nine-month free cash flow declined to $137.1 million from $156.1 million, while funded debt increased to $215.8 million from $72.0 million following acquisition financing. In addition, recent disclosures show company insiders made multiple sales and no open-market purchases during the past six months.

About MYR Group

MYR Group Inc is a holding company that operates specialty electrical infrastructure contracting businesses in the United States and Canada. Its companies provide construction, maintenance, repair and emergency restoration services for electric power infrastructure and other complex electrical systems.

MYR Group operates through two primary segments: Transmission and Distribution and Commercial and Industrial. Its transmission and distribution work includes overhead and underground power lines, substations and related utility infrastructure.