Key Takeaways AGX grew backlog 49.1% year over year to $2.8B, supported by rising power infrastructure demand.MYRG reported a record $2.84B backlog, driven by transmission, distribution and grid modernization projects.AGX benefits from power generation and data center opportunities, while MYRG expands mission-critical work. The accelerating build-out of U.S. energy infrastructure is creating a favorable backdrop for companies involved in power generation, transmission and distribution. Growing electricity demand from data centers, electrification, grid modernization and industrial expansion continues to support a robust project pipeline, while utilities and developers increasingly prioritize reliable, mission-critical electrical infrastructure. Argan, Inc. (AGX - Free Report) and MYR Group Inc. (MYRG - Free Report) are among the key beneficiaries of these long-term investment trends.
Argan specializes in engineering, procurement and construction services for power generation facilities, while MYR Group focuses on electric transmission, distribution and commercial electrical infrastructure. Both companies continue to emphasize execution excellence, disciplined project selection and bidding, long-term customer relationships, quality, safety and reliable project delivery as they capitalize on sustained investment across the evolving U.S. energy infrastructure landscape. Despite operating across different parts of the power value chain, both are well positioned to benefit from growing infrastructure investment and rising electricity demand.
Let's dive deep and closely compare the fundamentals of the two stocks to determine which one is a better investment now.
The Case for Argan StockThis Virginia-based engineering and construction company is benefiting from rising investment in U.S. power infrastructure as electricity demand accelerates due to electrification, domestic manufacturing, electric vehicle adoption and expanding data center development. These trends are increasing the need for reliable power generation, creating a favorable backdrop for the company. In the first quarter of fiscal 2027, backlog increased 49.1% year over year to $2.8 billion, providing strong revenue visibility and reflecting healthy customer demand across the business.
Power generation remains the company's primary growth driver. In the first quarter of fiscal 2027, the Power segment generated $227 million in revenues, representing 78% of consolidated revenues, while the segment backlog totaled $2.5 billion. Growing demand for reliable generation capacity, together with meaningful exposure to natural gas-fired projects, strengthens the company's position as utilities and developers expand energy infrastructure to meet rising electricity needs.
Growing investment in data centers is also creating opportunities beyond traditional power construction. The company is executing a major data center-related fabrication project and expanding its fabrication capacity in North Carolina to support customer demand. This investment broadens the Industrial segment's growth prospects while increasing exposure to mission-critical infrastructure spending.
Healthy demand across the U.S. energy infrastructure market continues to support the company's growth outlook. The expectation of securing a handful of new projects over the next 10-18 months, coupled with disciplined project selection and strong execution capabilities, reinforces long-term revenue visibility and strengthens Argan's competitive position.
The Case for MYR Group StockThis Colorado-based electrical infrastructure contractor is benefiting from rising investment in transmission, distribution and mission-critical electrical infrastructure as utilities modernize the grid and electricity demand continues to increase. Expanding data center development, electrification and long-term utility capital spending are supporting healthy bidding activity across the company's end markets. As of March 31, 2026, MYR Group reported a record backlog of $2.84 billion, up 8% year over year, providing solid visibility into future project activity.
Long-standing customer relationships remain a key competitive advantage as the company continues securing transmission, substation, distribution and commercial electrical projects across the United States and Canada. Data centers, water and wastewater infrastructure, together with ongoing grid modernization, are driving demand for specialized electrical construction services, supporting a diverse pipeline of mission-critical projects.
Project timing, subcontractor activity and material deliveries can create variability in quarterly results, while higher capital expenditures are expected as the company invests in its transmission and distribution operations to support growth. Competitive bidding across large infrastructure projects also reinforces the need to remain selective when pursuing new work.
A record backlog, sustained bidding activity and continued investment across grid infrastructure position the company to benefit from long-term demand for electrical construction services. Combined with established customer relationships and broad exposure to transmission, distribution and mission-critical infrastructure projects, MYR Group appears well positioned to capitalize on the ongoing expansion of North America's power infrastructure.
AGX Outpaces MYRG in Stock PerformanceBoth Argan and MYR Group have generated strong gains over the past year, benefiting from favorable trends across the U.S. power infrastructure market. However, Argan has delivered a stronger share price performance, with the stock rising 166.3%, compared with 105.4% for MYR Group, indicating relatively stronger investor sentiment toward the stock during the period.
AGX vs. MYRG Past Year Price Performance
Image Source: Zacks Investment Research
Considering valuation, Argan is trading above MYR Group on a forward 12-month price-to-earnings (P/E) ratio basis.
AGX vs. MYRG Valuation (P/E F12M)
Image Source: Zacks Investment Research
Comparing EPS Estimate Trends: AGX vs. MYRGThe Zacks Consensus Estimate for AGX's fiscal 2027 and 2028 earnings has increased 10.1% and 4.5%, respectively, over the past 60 days to $12.60 and $16.66 per share. The revised estimates imply year-over-year earnings growth of 29.4% for fiscal 2027 and 32.2% for fiscal 2028.
AGX's EPS Trend
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MYRG's 2026 and 2027 earnings has increased 1.3% and 4.6%, respectively, over the past 60 days to $11.43 and $12.48 per share. The revised estimates for 2026 and 2027 imply year-over-year earnings growth of 51.8% and 9.2%, respectively.
MYRG’s EPS Trend
Image Source: Zacks Investment Research
AGX or MYRG: Which Stock Stands Out?Argan and MYR Group are both well positioned to benefit from rising investment across the U.S. power infrastructure market, supported by growing electricity demand, grid modernization and expanding data center development. Argan stands out with a faster-growing backlog, greater exposure to large-scale power generation projects and a robust pipeline of future opportunities. MYR Group also maintains a favorable long-term outlook, backed by record backlog, healthy bidding activity and strong positioning across transmission, distribution and mission-critical electrical infrastructure, although project timing and continued investment spending could create near-term variability.
With Argan sporting a Zacks Rank #1 (Strong Buy) and MYR Group carrying a Zacks Rank #3 (Hold), the former appears to be the stronger investment at this stage. The company's rapidly expanding backlog, improving earnings estimate revisions, growing exposure to reliable power generation and data center-related infrastructure, together with stronger share price performance, provide greater revenue visibility and reinforce its long-term growth prospects. You can see the complete list of today’s Zacks #1 Rank stocks here.
THORNTON, Colo., July 15, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will release its second quarter 2026 results on Wednesday, July 29, 2026, after the market closes. In conjunction with the release, MYR Group has scheduled a conference call and simultaneous webcast to discuss results on Thursday, July 30, 2026, at 8 a.m. Mountain Time.
Participants may access the audio-only webcast of the conference call from the Investors page of MYR Group’s website at myrgroup.com. A replay of the webcast will be available for seven days.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects, and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance, and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners, and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance, and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies, and developers. For more information, visit myrgroup.com.
Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, [email protected]
Mid-cap stocks MYR Group (MYRG 5.06%) and VSE Corporation (VSEC 7.12%) operate in completely different industrial sectors, with MYR Group focusing on electrical contracting and VSE on aviation aftermarket services.
However, they are fundamentally cut from the same cloth, as they rely heavily on recurring, non-discretionary service revenue. Utilities must maintain the grid, and that's where MYR comes in. Planes must be serviced to remain airworthy, which is how VSE generates income.
As of July 6, VSE's shares are up more than 38% this year, and MYR's shares are up more than 102%. Here are three reasons why I still like each of these pick-and-shovel stocks.
Image source: Getty Images.
MYR Group benefits from the data center supercycle The company is well-positioned for the massive multi-year build-out of data centers, renewable energy integration, and electric vehicle (EV) charging infrastructure. Because its commercial and industrial (C&I) segment specializes in complex electrical contracting, it is seeing intense demand from tech companies expanding their artificial intelligence (AI) infrastructure. Additionally, utility companies face a multi-decade grid modernization cycle to handle higher power loads and connect new clean energy sources, giving MYR Group a structural tailwind that isn't reliant on normal economic cycles.
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Double-digit revenue and earnings growth MYR Group's execution is translating into rapid earnings growth. In the first quarter, revenue was reported as $1 billion, up 20% year over year, led by strong growth from its transmission and distribution segment. Earnings per share (EPS) jumped 106% over the same period last year to $2.99. Consolidated gross margins expanded to 13.4% (up from 11.6% the prior year), fueled by excellent productivity, favorable project closeouts, and shifting to higher-margin project mixes.
Record backlog for MYR and expansion MYR Group provides incredible long-term revenue visibility. It ended Q1 with a record backlog of $2.84 billion (up nearly 8% year over year). To capitalize on this pipeline, the company is aggressively expanding via acquisition. In May, MYR entered a definitive agreement to acquire Valley Electric and Comet Electric for $328 million. This strategic move heavily scales its C&I presence in the Western United States, giving it immediate local market share to capture sweeping infrastructure projects across the coast.
VSE's acquisitions should drive growth In May, VSE closed a $2 billion acquisition of Precision Aviation Group. This deal is a game changer that dramatically expands VSE's global footprint, scaling its maintenance, repair, and overhaul (MRO) capabilities to 61 locations across eight countries. The business is expected to be immediately accretive to VSE's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin.
In April, VSE bought NorthStar Technologies, a provider of MRO and third-party logistics services supporting the engine aftermarket. NorthStar specializes in teardown, kitting, and other labor- and technically intensive services across multiple engine platforms. The acquisition enhances VSE's position within original equipment manufacturer (OEM) aftermarket supply chains.
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VSE is seeing strong earnings growth Thanks to massive demand in commercial engine aftermarket sales and exclusive long-term OEM distribution agreements, VSE is seeing strong revenue and earnings growth.
In Q1, it reported revenue of $324.6 million, up 26.8% year over year, and earnings per share (EPS) of $1.04, up 55.2% over the same period a year ago. The company's recent acquisitions led VSE to boost its yearly forecast. It now expects full-year revenue to grow from 57% to 61%, compared to earlier guidance of 19% to 23%. It also increased its estimated adjusted EBITDA to 18.1% to 18.5%, up from earlier estimates of 16.8% to 17.3%.
A highly resilient business mix insulated from macro risks VSE operates in a strategic sweet spot within the aviation aftermarket. Roughly 48% of its exposure is in business jets and general aviation, with about a 50% focus specifically on engine components. This mix makes VSE highly resilient to macroeconomic headwinds, such as fluctuating commercial airline demand, fuel price spikes, or geopolitical conflicts.
John Cuomo, VSE's president and CEO, said that as it integrates Precision Aviation Group and realizes cost synergies, the company is targeting long-term adjusted EBITDA margins of more than 20%. This means that the company is becoming substantially more profitable as it scales.
The rewards outweigh their risks MYR's biggest concern is its exposure to fixed-price contracts, particularly in its C&I business. However, despite the fixed-price nature of its backlog, consolidated gross margins recently expanded to a record 13.4% as the company shifts away from low-margin clean energy projects toward high-margin data center and grid modernization infrastructure.
VSE's big concern is that it took on substantial debt to purchase Precision Aviation Group. If integrating that business hits operational bottlenecks, cost overruns, or corporate friction, it could delay the synergy timeline and pinch near-term cash flows. However, Precision Aviation brings highly predictable, immediately cash-accretive cash flows, which should enable VSE to quickly pay down its debt.
The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. MYR Group (MYRG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
MYR Group is a member of our Utilities group, which includes 111 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MYR Group is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MYRG's full-year earnings has moved 27.2% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MYRG has returned 112% so far this year. Meanwhile, the Utilities sector has returned an average of 6% on a year-to-date basis. This means that MYR Group is performing better than its sector in terms of year-to-date returns.
Another Utilities stock, which has outperformed the sector so far this year, is NextEra Energy (NEE - Free Report) . The stock has returned 7.6% year-to-date.
The consensus estimate for NextEra Energy's current year EPS has increased 0.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, MYR Group belongs to the Electric Construction industry, a group that includes 2 individual companies and currently sits at #6 in the Zacks Industry Rank. On average, stocks in this group have lost 63.6% this year, meaning that MYRG is performing better in terms of year-to-date returns.
On the other hand, NextEra Energy belongs to the Utility - Electric Power industry. This 63-stock industry is currently ranked #107. The industry has moved +7.5% year to date.
MYR Group and NextEra Energy could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at MYR Group (MYRG - Free Report) , a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. MYR Group currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for MYRG that show why this electrical construction services provider shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For MYRG, shares are up 3.45% over the past week while the Zacks Electric Construction industry is up 5.6% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 1.75% compares favorably with the industry's 1.05% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of MYR Group have increased 70.59% over the past quarter, and have gained 170.44% in the last year. In comparison, the S&P 500 has only moved 11.94% and 22.09%, respectively.
Investors should also pay attention to MYRG's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. MYRG is currently averaging 269,491 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with MYRG.
Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost MYRG's consensus estimate, increasing from $9.23 to $11.43 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineGiven these factors, it shouldn't be surprising that MYRG is a #1 (Strong Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep MYR Group on your short list.
Shares of MYR Group (MYRG - Free Report) have been strong performers lately, with the stock up 1.8% over the past month. The stock hit a new 52-week high of $491.61 in the previous session. MYR has gained 123% since the start of the year compared to the 8.2% gain for the Zacks Utilities sector and the -60.2% return for the Zacks Electric Construction industry.
What's Driving the Outperformance?The stock has a great record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on April 29, 2026, MYR reported EPS of $2.99 versus consensus estimate of $2.09.
For the current fiscal year, MYR is expected to post earnings of $11.43 per share on $4.1 in revenues. This represents a 51.79% change in EPS on a 12.01% change in revenues. For the next fiscal year, the company is expected to earn $12.48 per share on $4.49 in revenues. This represents a year-over-year change of 9.19% and 9.57%, respectively.
Valuation MetricsThough MYR has recently hit a 52-week high, what is next for MYR? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
MYR has a Value Score of D. The stock's Growth and Momentum Scores are A and A, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 42.6X current fiscal year EPS estimates, which is a premium to the peer industry average of 33.7X. On a trailing cash flow basis, the stock currently trades at 40.9X versus its peer group's average of 40.9X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks RankWe also need to consider the stock's Zacks Rank, as this is even more important than the company's VGM Score. Fortunately, MYR currently has a Zacks Rank of #1 (Strong Buy) thanks to a solid earnings estimate revision trend.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if MYR fits the bill. Thus, it seems as though MYR shares could have potential in the weeks and months to come.
On June 25, 2026, MYR Group Inc (MYRG) shares rose 3.7% today, bringing the current price to $487.33. The stock has experienced a strong price performance, trad
On June 22, 2026, MYR Group Inc MYRG shares rose 4.8% today, trading at $483.35. The stock has experienced significant price appreciation over the past year, with a remarkable YTD gain of 121.1% and a 52-week range between $166.38 and $484.71.
GF Value™ verdict: The current price is $483.35, while the GF Value™ is $181.17, indicating that the stock is 166.8% overvalued.GF Score™: MYRG has a score of 83/100, which is considered strong.Most notable signal: Insiders sold $10.5M in the last 3 months, with no buying activity reported. Is MYRG Overvalued or Undervalued? MYR Group Inc is currently trading significantly above its GF Value™ of $181.17, which suggests that the stock is overvalued by 166.8%. This discrepancy raises concerns regarding the sustainability of the current stock price, especially given the high valuation metrics observed. GF Valuation categorizes MYRG as "Significantly Overvalued," indicating that investors may face considerable risk if the market corrects itself or if the company's performance does not meet the heightened expectations implied by its current price.
The margin of safety is virtually nonexistent, as the stock's price is substantially detached from its intrinsic value. While the strong growth and profitability metrics may justify some premium, the current valuation appears excessive. Investors should proceed with caution, as a significant decline in share price could occur if market sentiment shifts.
How Does MYRG's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 53.3x 27.0x Forward P/E 43.6x N/A The current P/E ratio of 53.3x is significantly higher than the 5-year median P/E of 27.0x, indicating that MYRG is trading at a premium compared to its historical valuation. This analysis aligns with the GF Value™ verdict, confirming that the stock is overvalued based on its historical performance metrics.
What Does MYRG's GF Score™ Tell Us? Metric Rating GF Score™ 83 Financial Strength 8/10 Profitability 9/10 Growth 10/10 Valuation 1/10 Momentum 6/10 The GF Score™ of 83/100 indicates that MYRG is fundamentally strong, particularly in growth (10/10) and profitability (9/10). However, the valuation score of 1/10 signals that the stock is significantly overpriced relative to its intrinsic value. This contrast between strong operational metrics and a weak valuation score suggests that while the company is performing well, the stock price does not reflect its true value.
What Are Insiders Doing with MYRG Stock? Recent insider activity shows that insiders have sold $10.5 million worth of MYRG stock over the past three months, with no reported buying. This pattern of selling could suggest a lack of confidence among insiders regarding the stock's current valuation. Typically, when insiders sell shares, it can be interpreted as a signal to the market, potentially indicating that they believe the stock is overvalued or that they are taking profits following substantial price increases.
The absence of insider buying further emphasizes a cautious outlook on the stock, reinforcing the notion that the current valuation may not be justified.
What This Means for Investors Based on the analysis of GF Value™, MYR Group Inc MYRG is currently overvalued. The significant disparity between the current market price and the intrinsic value as estimated by GF Value™ poses risks for potential investors. Caution is advised as the stock may be susceptible to downward corrections if future performance does not meet optimistic projections.
For the complete analysis, visit the MYR Group Inc MYRG stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is MYRG's GF Score™?
MYRG's GF Score™ is 83/100, indicating strong fundamentals that could lead to higher long-term returns based on historical performance.
Is MYRG overvalued or undervalued?
MYRG is overvalued, with a GF Value™ of $181.17 compared to its current price of $483.35, suggesting significant risk for investors.
What is MYRG's P/E ratio?
MYRG's P/E (TTM) is 53.3x, which is considerably above its 5-year median P/E of 27.0x, indicating a premium valuation compared to its historical performance.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Has MYR Group (MYRG - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
MYR Group is one of 110 companies in the Utilities group. The Utilities group currently sits at #12 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MYR Group is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MYRG's full-year earnings has moved 21.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MYRG has returned about 105.9% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of 6.1% on a year-to-date basis. As we can see, MYR Group is performing better than its sector in the calendar year.
Another Utilities stock, which has outperformed the sector so far this year, is NextEra Energy (NEE - Free Report) . The stock has returned 7.3% year-to-date.
For NextEra Energy, the consensus EPS estimate for the current year has increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MYR Group belongs to the Electric Construction industry, which includes 2 individual stocks and currently sits at #6 in the Zacks Industry Rank. Stocks in this group have lost about 64% so far this year, so MYRG is performing better this group in terms of year-to-date returns.
NextEra Energy, however, belongs to the Utility - Electric Power industry. Currently, this 60-stock industry is ranked #109. The industry has moved +6.6% so far this year.
Investors with an interest in Utilities stocks should continue to track MYR Group and NextEra Energy. These stocks will be looking to continue their solid performance.
Shares of MYR Group (MYRG - Free Report) have been strong performers lately, with the stock up 26.8% over the past month. The stock hit a new 52-week high of $331.28 in the previous session. MYR has gained 50.7% since the start of the year compared to the 10.5% move for the Zacks Utilities sector and the -69.2% return for the Zacks Electric Construction industry.
What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on February 25, 2026, MYR reported EPS of $2.33 versus consensus estimate of $1.73.
For the current fiscal year, MYR is expected to post earnings of $9.23 per share on $4.02 in revenues. This represents a 22.58% change in EPS on a 9.8% change in revenues. For the next fiscal year, the company is expected to earn $9.71 per share on $4.27 in revenues. This represents a year-over-year change of 5.16% and 6.28%, respectively.
Valuation MetricsThough MYR has recently hit a 52-week high, what is next for MYR? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
MYR has a Value Score of D. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 35.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 31X. On a trailing cash flow basis, the stock currently trades at 27.6X versus its peer group's average of 27.6X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks RankWe also need to look at the Zacks Rank for the stock, as this is even more important than the company's VGM Score. Fortunately, MYR currently has a Zacks Rank of #1 (Strong Buy) thanks to favorable earnings estimate revisions from covering analysts.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if MYR passes the test. Thus, it seems as though MYR shares could still be poised for more gains ahead.
Wall Street expects a year-over-year increase in earnings on higher revenues when MYR Group (MYRG - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on April 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis electrical construction services provider is expected to post quarterly earnings of $2.09 per share in its upcoming report, which represents a year-over-year change of +44.1%.
Revenues are expected to be $947.05 million, up 13.6% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 3.16% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for MYR?For MYR, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +8.87%.
On the other hand, the stock currently carries a Zacks Rank of #1.
So, this combination indicates that MYR will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that MYR would post earnings of $1.73 per share when it actually produced earnings of $2.33, delivering a surprise of +34.68%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
MYR appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering MYR Group (MYRG - Free Report) , which belongs to the Zacks Electric Construction industry.
This electrical construction services provider has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 23.66%.
For the last reported quarter, MYR came out with earnings of $2.33 per share versus the Zacks Consensus Estimate of $1.73 per share, representing a surprise of 34.68%. For the previous quarter, the company was expected to post earnings of $1.82 per share and it actually produced earnings of $2.05 per share, delivering a surprise of 12.64%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for MYR. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
MYR currently has an Earnings ESP of +8.87%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #1 (Strong Buy) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on April 29, 2026.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Centrica PLC (CPYYY - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
Centrica PLC is a member of the Utilities sector. This group includes 110 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Centrica PLC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CPYYY's full-year earnings has moved 19.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CPYYY has moved about 26.1% on a year-to-date basis. In comparison, Utilities companies have returned an average of 10%. This shows that Centrica PLC is outperforming its peers so far this year.
Another stock in the Utilities sector, MYR Group (MYRG - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 55.3%.
In MYR Group's case, the consensus EPS estimate for the current year increased 11% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Centrica PLC is a member of the Utility - Gas Distribution industry, which includes 13 individual companies and currently sits at #58 in the Zacks Industry Rank. This group has gained an average of 8.6% so far this year, so CPYYY is performing better in this area.
In contrast, MYR Group falls under the Electric Construction industry. Currently, this industry has 2 stocks and is ranked #7. Since the beginning of the year, the industry has moved -66.9%.
Investors with an interest in Utilities stocks should continue to track Centrica PLC and MYR Group. These stocks will be looking to continue their solid performance.
THORNTON, Colo., April 29, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR or the "Company”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its first-quarter 2026 financial results.
Highlights for First Quarter 2026
Quarterly revenues of $1.00 billionRecord quarterly net income of $46.8 million, or $2.99 per diluted shareRecord quarterly EBITDA of $81.5 millionRecord backlog of $2.84 billion Management Comments
Rick Swartz, MYR’s President and CEO, said, “We started the year with strong momentum, delivering year-over-year increases in revenue and gross profit, along with record quarterly net income, EBITDA, and backlog. By deepening relationships with strategic customers and continuing to invest in expanding our geographic footprint and market reach, we are creating meaningful long-term growth opportunities and strengthening our competitive position. We believe our solid financial performance, disciplined execution, and favorable market outlook position us well to sustain this momentum through the remainder of 2026.”
First Quarter Results
MYR reported first-quarter 2026 revenues of $1.00 billion, an increase of $166.8 million, compared to the first quarter of 2025. Specifically, our Transmission and Distribution (“T&D”) segment reported quarterly revenues of $541.0 million, an increase of $79.2 million, from the first quarter of 2025, due to increases in revenue on unit price contracts and T&E contracts, partially offset by a decrease in revenue on fixed price contracts. Our Commercial and Industrial (“C&I”) segment reported quarterly revenues of $459.4 million, an increase of $87.6 million, from the first quarter of 2025, primarily due to an increase in revenue on fixed priced contracts.
Consolidated gross profit increased to $134.4 million in the first quarter of 2026, compared to $96.9 million for the first quarter of 2025. The increase in gross profit was due to higher margin and revenues. Gross margin increased to 13.4 percent for the first quarter of 2026 from 11.6 percent for the first quarter of 2025. The increase in gross margin was primarily due to a larger portion of our projects progressing at higher contractual margins, some of which are nearing completion. In the first quarter of 2026 gross margin was also positively impacted by better-than-anticipated productivity, favorable change orders and a favorable job closeout. These margin increases were partially offset by an increase in costs associated with project inefficiencies on certain projects. Changes in estimates of gross profit on certain projects resulted in a net gross margin increase of 0.8 percent for the first quarter of 2026, compared to a net gross margin decrease of 1.1 percent for the first quarter of 2025.
Selling, general and administrative expenses increased to $69.4 million in the first quarter of 2026, compared to $62.5 million for the first quarter of 2025. The period-over-period increase was primarily due to an increase in employee incentive compensation costs and an increase in employee-related expenses to support future growth.
Interest income increased to $0.9 million in the first quarter of 2026, compared to $0.2 million for the first quarter of 2025. The period-over-period increase was primarily due to higher average balances held in money market accounts in the first quarter of 2026 as compared to the first quarter of 2025.
Interest expense decreased to $0.7 million in the first quarter of 2026, compared to $1.4 million for the first quarter of 2025. The period-over-period decrease was primarily due to lower average outstanding debt balances and lower interest rates during the first quarter of 2026 as compared to the first quarter of 2025.
Income tax expense was $17.2 million for the first quarter of 2026, with an effective tax rate of 26.9 percent, compared to an income tax expense of $9.5 million for the first quarter of 2025, with an effective tax rate of 28.9 percent. The period-over-period change in tax rate was primarily due to a favorable impact from stock compensation excess tax benefits, partially offset by the impact of the net CFC tested income (“NCTI”) and other permanent difference items.
For the first quarter of 2026, net income was $46.8 million, or $2.99 per diluted share, compared to $23.3 million, or $1.45 per diluted share, for the same period of 2025. First-quarter 2026 EBITDA, a non-GAAP financial measure, was $81.5 million, compared to $50.2 million in the first quarter of 2025.
Backlog
As of March 31, 2026, MYR's backlog was $2.84 billion, which was an increase of $203.3 million, or 7.7 percent, from the $2.64 billion reported as of March 31, 2025. As of March 31, 2026, T&D backlog was $980.7 million and C&I backlog was $1.86 billion.
Balance Sheet
As of March 31, 2026, MYR had $460.5 million of borrowing availability under its $490 million revolving credit facility and $163.2 million in cash and cash equivalents.
Non-GAAP Financial Measures
To supplement MYR’s financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), MYR uses certain non-GAAP measures. Reconciliation to the nearest GAAP measures of all non-GAAP measures included in this press release can be found at the end of this release. MYR’s definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.
MYR believes that these non-GAAP measures are useful because they (i) provide both management and investors meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results, (ii) permit investors to view MYR’s performance using the same tools that management uses to evaluate MYR’s past performance, reportable business segments and prospects for future performance, (iii) publicly disclose results that are relevant to financial covenants included in MYR’s credit facility and (iv) otherwise provide supplemental information that may be useful to investors in evaluating MYR.
Conference Call
MYR will host a conference call to discuss its first-quarter 2026 results on Thursday, April 30, 2026 at 8:00 a.m. Mountain time. To participate via telephone and join the call live, please register in advance here: https://register-conf.media-server.com/register/BIb2b0665d809c4dcb972f1f82519c1892. Upon registration, telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number and a unique passcode. Participants may access the audio-only webcast of the conference call from the Investors page of MYR Group’s website at myrgroup.com. A replay of the webcast will be available for seven days.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Forward-Looking Statements
Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenue, income, capital spending, segment improvements and investments. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “likely,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “unlikely,” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this announcement speak only as of the date of this announcement. We disclaim any obligation to update these statements (unless required by securities laws), and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Forward-looking statements in this announcement should be evaluated together with the many uncertainties that affect MYR's business, particularly those mentioned in the risk factors and cautionary statements in Item 1A. of MYR's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any risk factors or cautionary statements contained in MYR's subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
MYR Group Inc. Contact:
Jennifer Harper, Vice President, Investor Relations & Treasurer, 847-979-5835, [email protected]
Financial tables follow…
MYR GROUP INC.
Consolidated Balance Sheets
As of March 31, 2026 and December 31, 2025
(in thousands, except share and per share data)March 31,
2026 December 31,
2025 (unaudited) ASSETS Current assets: Cash and cash equivalents$163,192 $150,156 Accounts receivable, net of allowances of $874 and $934, respectively 635,676 603,735 Contract assets, net of allowances of $500 and $534, respectively 224,263 241,766 Current portion of receivable for insurance claims in excess of deductibles 9,287 10,122 Refundable income taxes 1,796 — Prepaid expenses and other current assets 51,035 54,982 Total current assets 1,085,249 1,060,761 Property and equipment, net of accumulated depreciation of $424,415 and $413,962, respectively 307,739 306,386 Operating lease right-of-use assets 50,357 42,448 Goodwill 114,474 115,266 Intangible assets, net of accumulated amortization of $40,949 and $39,967, respectively 70,737 72,476 Receivable for insurance claims in excess of deductibles 19,753 21,358 Deferred income taxes 12,519 12,723 Investment in joint ventures 3,397 3,224 Other assets 9,199 9,437 Total assets$1,673,424 $1,644,079 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debt$4,652 $4,554 Current portion of operating lease obligations 12,751 13,019 Current portion of finance lease obligations 799 804 Accounts payable 332,399 314,789 Contract liabilities, net 281,520 300,560 Current portion of accrued self-insurance 28,542 28,499 Accrued income taxes 33,027 15,129 Other current liabilities 133,985 117,923 Total current liabilities 827,675 795,277 Deferred income tax liabilities 49,907 50,119 Long-term debt 4,724 54,483 Accrued self-insurance 41,325 42,827 Operating lease obligations, net of current maturities 37,598 29,429 Finance lease obligations, net of current maturities 998 1,220 Other liabilities 8,378 10,301 Total liabilities 970,605 983,656 Commitments and contingencies Shareholders’ equity: Preferred stock—$0.01 par value per share; 4,000,000 authorized shares; none issued and outstanding at March 31, 2026 and December 31, 2025 — — Common stock—$0.01 par value per share; 100,000,000 authorized shares; 15,568,110 and 15,522,834 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 155 155 Additional paid-in capital 162,373 165,211 Accumulated other comprehensive loss (9,486) (8,183)Retained earnings 549,777 503,240 Total shareholders’ equity 702,819 660,423 Total liabilities and shareholders’ equity$1,673,424 $1,644,079 MYR GROUP INC.
Unaudited Consolidated Statements of Operations
Three Months Ended March 31, 2026 and 2025
Three months ended
March 31,(in thousands, except per share data) 2026 2025 Contract revenues$1,000,380 $833,620 Contract costs 865,940 736,719 Gross profit 134,440 96,901 Selling, general and administrative expenses 69,423 62,524 Amortization of intangible assets 1,217 1,188 Gain on sale of property and equipment (922) (1,101)Income from operations 64,722 34,290 Other income (expense): Interest income 910 191 Interest expense (659) (1,414)Other expense, net (948) (300)Income before provision for income taxes 64,025 32,767 Income tax expense 17,225 9,459 Net income$46,800 $23,308 Income per common share: —Basic$3.01 $1.46 —Diluted$2.99 $1.45 Weighted average number of common shares and potential common shares outstanding: —Basic 15,539 15,994 —Diluted 15,676 16,056 MYR GROUP INC.
Unaudited Consolidated Statements of Cash Flows
Three Months Ended March 31, 2026 and 2025
Three months ended
March 31,(in thousands) 2026 2025 Cash flows from operating activities: Net income$46,800 $23,308 Adjustments to reconcile net income to net cash flows provided by operating activities: Depreciation and amortization of property and equipment 16,546 15,005 Amortization of intangible assets 1,217 1,188 Stock-based compensation expense 3,386 2,333 Gain on sale of property and equipment (922) (1,101)Other non-cash items 294 71 Changes in operating assets and liabilities: Accounts receivable, net (32,573) 84,015 Contract assets, net 16,885 (34,023)Receivable for insurance claims in excess of deductibles 2,440 (305)Other assets 2,955 9,509 Accounts payable 15,715 (7,831)Contract liabilities, net (18,748) (34,932)Accrued self-insurance (1,451) (1,000)Other liabilities 32,205 27,049 Net cash flows provided by operating activities 84,749 83,286 Cash flows from investing activities: Proceeds from sale of property and equipment 954 2,176 Purchases of property and equipment (16,132) (13,066)Net cash flows used in investing activities (15,178) (10,890)Cash flows from financing activities: Borrowings under revolving lines of credit 48,003 230,695 Repayments under revolving lines of credit (95,417) (215,761)Payment of principal obligations under equipment notes (2,247) (2,156)Payment of principal obligations under finance leases (198) (299)Repurchase of common stock — (75,000)Payments related to tax withholding for stock-based compensation (6,487) (2,451)Net cash flows used in financing activities (56,346) (64,972)Effect of exchange rate changes on cash (189) 8 Net increase in cash and cash equivalents 13,036 7,432 Cash and cash equivalents: Beginning of period 150,156 3,464 End of period$163,192 $10,896 MYR GROUP INC.
Unaudited Consolidated Selected Data,
Unaudited Performance Measure and Reconciliation of Non-GAAP Measure
For the Three and Twelve Months Ended March 31, 2026 and 2025 and
As of March 31, 2026, December 31, 2025, March 31, 2025 and March 31, 2024
Three months ended
March 31, Last twelve months ended
March 31, (dollars in thousands, except share and per share data) 2026 2025 2026 2025 Summary Statement of Operations Data: Contract revenues$1,000,380 $833,620 $3,824,649 $3,380,348 Gross profit$134,440 $96,901 $461,325 $300,977 Income from operations$64,722 $34,290 $197,304 $64,101 Income before provision for income taxes$64,025 $32,767 $192,542 $56,164 Income tax expense$17,225 $9,459 $50,634 $21,532 Net income$46,800 $23,308 $141,908 $34,632 Tax rate 26.9% 28.9% 26.3% 38.3% Per Share Data: Income per common share: —Basic$3.01 $1.46 $9.13 (1)$2.19 (1)—Diluted$2.99 $1.45 $9.07 (1)$2.18 (1)Weighted average number of common shares and potential common shares outstanding: —Basic 15,539 15,994 15,531 (2) 16,290 (2)—Diluted 15,676 16,056 15,635 (2) 16,344 (2) (in thousands)March 31,
2026 December 31,
2025 March 31,
2025 March 31,
2024Summary Balance Sheet Data: Total assets$1,673,424 $1,644,079 $1,431,211 $1,489,163Total shareholders’ equity$702,819 $660,423 $548,672 $663,720Goodwill and intangible assets$185,211 $187,742 $187,589 $197,314Total funded debt (3)$9,376 $59,037 $87,159 $37,932 Three months ended
March 31,(dollars in thousands) 2026 2025 Segment Results:Amount Percent Amount PercentContract revenues: Transmission & Distribution$540,970 54.1% $461,769 55.4%Commercial & Industrial 459,410 45.9 371,851 44.6 Total$1,000,380 100.0% $833,620 100.0%Operating income: Transmission & Distribution$52,210 9.7% $36,221 7.8%Commercial & Industrial 37,204 8.1 17,377 4.7 Total 89,414 8.9 53,598 6.4 Corporate (24,692) (2.4) (19,308) (2.3)Consolidated$64,722 6.5% $34,290 4.1% MYR GROUP INC.
Unaudited Performance Measures and Reconciliation of Non-GAAP Measures
Three and Twelve Months Ended March 31, 2026 and 2025
Three months ended
March 31, Last twelve months ended
March 31,(in thousands, except share, per share data, ratios and percentages) 2026 2025 2026 2025 Financial Performance Measures (4): EBITDA (5)$81,537 $50,183 $264,075 $128,137 EBITDA per Diluted Share (6)$5.20 $3.13 $16.89 $7.90 EBIA, net of taxes (7)$47,506 $25,022 $148,024 $41,573 Free Cash Flow (8)$68,617 $70,220 $230,592 $99,490 Book Value per Period End Share (9)$44.75 $35.21 Tangible Book Value (10)$517,608 $361,083 Tangible Book Value per Period End Share (11)$32.96 $23.17 Funded Debt to Equity Ratio (12) 0.01 0.16 Asset Turnover (13) 2.67 2.27 Return on Assets (14) 9.9% 2.3%Return on Equity (15) 25.9% 5.2%Return on Invested Capital (16) 25.2% 6.3% Reconciliation of Non-GAAP Measures: Reconciliation of Net Income to EBITDA: Net income$46,800 $23,308 $141,908 $34,632 Interest (income) expense, net (251) 1,223 3,451 6,421 Income tax expense 17,225 9,459 50,634 21,532 Depreciation and amortization 17,763 16,193 68,082 65,552 EBITDA (5)$81,537 $50,183 $264,075 $128,137 Reconciliation of Net Income per Diluted Share to EBITDA per Diluted Share: Net income per share$2.99 $1.45 $9.07 $2.18 Interest (income) expense, net, per share (0.02) 0.08 0.22 0.39 Income tax expense per share 1.10 0.59 3.24 1.32 Depreciation and amortization per share 1.13 1.01 4.36 4.01 EBITDA per Diluted Share (6)$5.20 $3.13 $16.89 $7.90 Reconciliation of Non-GAAP measure: Net income$46,800 $23,308 $141,908 $34,632 Interest (income) expense, net (251) 1,223 3,451 6,421 Amortization of intangible assets 1,217 1,188 4,847 4,829 Tax impact of interest and amortization of intangible assets (260) (697) (2,182) (4,309)EBIA, net of taxes (7)$47,506 $25,022 $148,024 $41,573 Calculation of Free Cash Flow: Net cash flow from operating activities$84,749 $83,286 $328,030 $162,711 Less: cash used in purchasing property and equipment (16,132) (13,066) (97,438) (63,221)Free Cash Flow (8)$68,617 $70,220 $230,592 $99,490 MYR GROUP INC.
Unaudited Performance Measures and Reconciliation of Non-GAAP Measures
As of March 31, 2026, 2025 and 2024
(in thousands, except per share amounts)March 31, 2026 March 31, 2025Reconciliation of Book Value to Tangible Book Value: Book value (total shareholders' equity)$702,819 $548,672 Goodwill and intangible assets (185,211) (187,589)Tangible Book Value (10)$517,608 $361,083 Reconciliation of Book Value per Period End Share to Tangible Book Value per Period End Share: Book value per period end share$44.75 $35.21 Goodwill and intangible assets per period end share (11.79) (12.04)Tangible Book Value per Period End Share (11)$32.96 $23.17 Calculation of Period End Shares: Shares outstanding 15,568 15,522 Plus: common equivalents 137 62 Period End Shares (17) 15,705 15,584 (in thousands)March 31, 2026 March 31, 2025 March 31, 2024Reconciliation of Invested Capital to Shareholders Equity: Book value (total shareholders' equity)$702,819 $548,672 $663,720 Plus: total funded debt 9,376 87,159 37,932 Less: cash and cash equivalents (163,192) (10,896) (3,911)Invested Capital$549,003 $624,935 $697,741 Average Invested Capital (18)$586,969 $661,338 See notes at the end of this earnings release.
(1) Last-twelve-months earnings per share is the sum of earnings per share reported in the last four quarters.
(2) Last-twelve-months weighted average basic and diluted shares were determined by adding the weighted average shares reported for the last four quarters and dividing by four.
(3) Funded debt includes outstanding borrowings under our revolving credit facility and our outstanding equipment notes.
(4) These financial performance measures are provided as supplemental information to the financial statements. These measures are used by management to evaluate our past performance, our prospects for future performance and our ability to comply with certain material covenants as defined within our credit agreement, and to compare our results with those of our peers. In addition, we believe that certain of the measures, such as book value, tangible book value, free cash flow, asset turnover, return on equity, and debt leverage are measures that are monitored by sureties, lenders, lessors, suppliers and certain investors. Our calculation of each measure is described in the following notes; our calculation may not be the same as the calculations made by other companies.
(5) EBITDA is defined as earnings before interest, taxes, depreciation and amortization. EBITDA is not recognized under GAAP and does not purport to be an alternative to net income as a measure of operating performance or to net cash flows provided by operating activities as a measure of liquidity. Certain material covenants contained within our credit agreement are based on EBITDA with certain additional adjustments, including our interest coverage ratio and leverage ratio, which we must comply with to avoid potential immediate repayment of amounts borrowed or additional fees to seek relief from our lenders. In addition, management considers EBITDA a useful measure because it provides MYR Group Inc. and its investors with an additional tool to compare our operating performance on a consistent basis by removing the impact of certain items that management believes to not directly reflect the company’s core operations. Management further believes that EBITDA is useful to investors and other external users of our financial statements in evaluating the company’s operating performance and cash flow because EBITDA is widely used by investors to measure a company’s operating performance without regard to items such as interest expense, taxes, depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, useful lives placed on assets, capital structure and the method by which assets were acquired.
(6) EBITDA per diluted share is calculated by dividing EBITDA by the weighted average number of diluted shares outstanding for the period. EBITDA per diluted share is not recognized under GAAP and does not purport to be an alternative to income per diluted share.
(7) EBIA, net of taxes is defined as net income plus net interest plus amortization of intangible assets, less the tax impact of net interest and amortization of intangible assets. The tax impact of net interest and amortization of intangible assets is computed by multiplying net interest and amortization of intangible assets by the effective tax rate. Management uses EBIA, net of taxes, to measure our results exclusive of the impact of financing and amortization of intangible assets costs.
(8) Free cash flow, which is defined as cash flow provided by operating activities minus cash flow used in purchasing property and equipment, is not recognized under GAAP and does not purport to be an alternative to net income, cash flow from operations or the change in cash on the balance sheet. Management views free cash flow as a measure of operational performance, liquidity and financial health.
(9) Book value per period end share is calculated by dividing total shareholders’ equity at the end of the period by the period end shares outstanding.
(10) Tangible book value is calculated by subtracting goodwill and intangible assets outstanding at the end of the period from shareholders’ equity. Tangible book value is not recognized under GAAP and does not purport to be an alternative to book value or shareholders’ equity.
(11) Tangible book value per period end share is calculated by dividing tangible book value at the end of the period by the period end number of shares outstanding. Tangible book value per period end share is not recognized under GAAP and does not purport to be an alternative to income per diluted share.
(12) The funded debt to equity ratio is calculated by dividing total funded debt at the end of the period by total shareholders’ equity at the end of the period.
(13) Asset turnover is calculated by dividing the current period revenue by total assets at the beginning of the period.
(14) Return on assets is calculated by dividing net income for the period by total assets at the beginning of the period.
(15) Return on equity is calculated by dividing net income for the period by total shareholders’ equity at the beginning of the period.
(16) Return on invested capital is calculated by dividing EBIA, net of taxes, less any dividends, by average invested capital. Return on invested capital is not recognized under GAAP, and is a key metric used by management to determine our executive compensation.
(17) Period end shares is calculated by adding average common stock equivalents for the quarter to the period end balance of common stock outstanding. Period end shares is not recognized under GAAP and does not purport to be an alternative to diluted shares. Management views period end shares as a better measure of shares outstanding as of the end of the period.
(18) Average invested capital is calculated by adding net funded debt (total funded debt less cash and marketable securities) to total shareholders’ equity and calculating the average of the beginning and ending of each period.
MYR Group (MYRG - Free Report) came out with quarterly earnings of $2.99 per share, beating the Zacks Consensus Estimate of $2.09 per share. This compares to earnings of $1.45 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +43.41%. A quarter ago, it was expected that this electrical construction services provider would post earnings of $1.73 per share when it actually produced earnings of $2.33, delivering a surprise of +34.68%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
MYR, which belongs to the Zacks Electric Construction industry, posted revenues of $1 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 5.63%. This compares to year-ago revenues of $833.62 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
MYR shares have added about 51.5% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for MYR?While MYR has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for MYR was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.13 on $978.5 million in revenues for the coming quarter and $9.23 on $4.02 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electric Construction is currently in the top 5% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Utilities sector, Atmos Energy (ATO - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.
This natural gas utility is expected to post quarterly earnings of $3.36 per share in its upcoming report, which represents a year-over-year change of +10.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Atmos Energy's revenues are expected to be $2.22 billion, up 13.7% from the year-ago quarter.
THORNTON, Colo., April 30, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the KeyBanc Industrials & Basic Materials investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, Chief Financial Officer, Kelly Huntington, and Vice President, Investor Relations and Treasurer, Jennifer Harper, will meet with institutional investors during the KeyBanc Industrials & Basic Materials Conference on May 28, 2026, in Boston. This event is only available to KeyBanc clients.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, [email protected]
THORNTON, Colo., May 04, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Stifel 2026 Boston Cross Sector 1x1 investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, Chief Financial Officer, Kelly Huntington, and Vice President, Investor Relations and Treasurer, Jennifer Harper, will meet with institutional investors during the Stifel 2026 Boston Cross Sector 1x1 Conference on June 3, 2026, in Boston. This event is only available to Stifel clients.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, [email protected]
THORNTON, Colo., May 05, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Baird Global Consumer, Technology & Services investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, Chief Financial Officer, Kelly Huntington, and Vice President, Investor Relations and Treasurer, Jennifer Harper, will meet with institutional investors during the Baird Global Consumer, Technology & Services Conference on June 4, 2026, in New York City. This event is only available to Baird clients.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, [email protected]
Shares of MYR Group (MYRG - Free Report) have been strong performers lately, with the stock up 62.2% over the past month. The stock hit a new 52-week high of $474.54 in the previous session. MYR has gained 114.4% since the start of the year compared to the 9.7% gain for the Zacks Utilities sector and the -57.7% return for the Zacks Electric Construction industry.
What's Driving the Outperformance?The stock has a great record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on April 29, 2026, MYR reported EPS of $2.99 versus consensus estimate of $2.09.
For the current fiscal year, MYR is expected to post earnings of $9.23 per share on $4.02 in revenues. This represents a 22.58% change in EPS on a 9.8% change in revenues. For the next fiscal year, the company is expected to earn $9.71 per share on $4.27 in revenues. This represents a year-over-year change of 5.16% and 6.28%, respectively.
Valuation MetricsMYR may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
MYR has a Value Score of D. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 50.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 42.6X. On a trailing cash flow basis, the stock currently trades at 39.3X versus its peer group's average of 39.3X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks RankWe also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, MYR currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if MYR fits the bill. Thus, it seems as though MYR shares could still be poised for more gains ahead.
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at MYR Group (MYRG - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. MYR Group currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market? In order to see if MYRG is a promising momentum pick, let's examine some Momentum Style elements to see if this electrical construction services provider holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For MYRG, shares are up 27.77% over the past week while the Zacks Electric Construction industry is up 16.24% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 51.38% compares favorably with the industry's 48.72% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of MYR Group have increased 67.98% over the past quarter, and have gained 192.88% in the last year. In comparison, the S&P 500 has only moved 6.55% and 32.75%, respectively.
Investors should also pay attention to MYRG's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. MYRG is currently averaging 306,245 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with MYRG.
Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost MYRG's consensus estimate, increasing from $8.98 to $9.84 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom LineGiven these factors, it shouldn't be surprising that MYRG is a #1 (Strong Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep MYR Group on your short list.
THORNTON, Colo., May 11, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR Group”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced it will attend the Wells Fargo Industrials & Materials investor conference. MYR Group’s Chief Executive Officer, Rick Swartz, Chief Financial Officer, Kelly Huntington, and Vice President, Investor Relations and Treasurer, Jennifer Harper, will meet with institutional investors during the Wells Fargo Industrials & Materials Conference on June 10, 2026, in Chicago. This event is only available to Wells Fargo clients.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
Contact
Jennifer Harper, Vice President, Investor Relations & Treasurer, MYR Group Inc., (847) 979-5835, [email protected]
On May 18, 2026, MYR Group Inc MYRG shares fell 3.7% to a current price of $449.83, marking a notable decline in the context of its 52-week range, which has seen a low of $154.55 and a high of $480.00. The stock's price performance over the past year has been impressive, showcasing a 173.4% increase, but today's move suggests some volatility in the market.
GF Value™ verdict: Current price of $449.83 is 150.6% above the estimated fair value of $179.53.GF Score™ of 85/100 indicates a strong overall ranking based on various financial metrics.Most notable signal: MYRG has not seen any insider transactions in the last 3 months. Is MYRG Overvalued or Undervalued? The current price of MYR Group Inc at $449.83 is significantly above its GF Value™ estimate of $179.53, indicating that the stock is overvalued by approximately 150.6%. This overvaluation presents a considerable risk for potential investors, as there is a substantial margin of safety that is absent in this scenario. GF Valuation label classifies MYRG as significantly overvalued, which suggests that the current market price does not reflect the intrinsic value based on fundamental metrics.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the stark discrepancy between the market price and GF Value™, investors may need to exercise caution and consider potential corrections in the stock price moving forward.
How Does MYRG's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 49.6x 26.8x Forward P/E 42.0x - MYR Group Inc's current P/E (TTM) of 49.6x is significantly higher than its 5-year median P/E of 26.8x, suggesting that the stock is trading above its historical valuation. The forward P/E of 42.0x also indicates that the stock remains expensive relative to its earnings potential. This P/E analysis aligns with the GF Value™ verdict that MYRG is overvalued, as the elevated P/E ratios further emphasize the disconnect between the current market price and the intrinsic value.
What Does MYRG's GF Score™ Tell Us? Metric Rating GF Score™ 85/100 Financial Strength 8/10 Profitability 9/10 Growth 10/10 Valuation 1/10 Momentum 9/10 MYR Group Inc's GF Score™ of 85/100 reflects a strong performance across most metrics, particularly in Growth (10/10), Profitability (9/10), and Momentum (9/10). However, the Valuation rank of 1/10 indicates that the stock is significantly overvalued compared to its intrinsic value. The Financial Strength rating of 8/10 further supports the company's stability, but the stark contrast in the Valuation area highlights a potential risk for investors considering the stock at its current price.
What Are Insiders Doing with MYRG Stock? There have been no insider transactions in MYR Group Inc's stock over the last three months. This lack of activity could indicate that insiders are either confident in the company's future prospects or are waiting for a more opportune moment to engage in transactions. The absence of insider buying could also suggest that insiders do not perceive the current price as attractive for acquisition.
What This Means for Investors Based on the GF Value™ assessment, MYR Group Inc is currently overvalued. The substantial difference between the current market price and the estimated fair value raises concerns about the sustainability of the stock's price, especially in light of its high P/E ratios and lack of insider activity. Investors may need to be cautious and consider the potential for a price correction in the future.
For the complete analysis, visit the MYR Group Inc MYRG stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is MYRG's GF Score™?
MYRG has a GF Score™ of 85/100, indicating a strong overall performance based on key financial metrics.
Is MYRG overvalued or undervalued?
MYRG is overvalued, with a current price that is 150.6% above its estimated GF Value™ of $179.53.
What is MYRG's P/E ratio?
MYRG's P/E (TTM) is 49.6x, which is significantly above its 5-year median P/E of 26.8x, indicating that the stock is trading at a premium compared to its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
I rate MYR Group Hold/Avoid as its ~41x forward P/E fully prices in AI data center and grid-electrification super-cycles, leaving minimal margin of safety. MYRG's shift to a 70% MSA-led T&D portfolio and C&I prefabrication builds recurring revenue and margin arbitrage, supporting premium valuation but demanding flawless execution. A fortress balance sheet with $500M+ liquidity and zero net debt positions MYRG for accretive M&A, yet organic growth (~12%) alone cannot justify current multiples.
May 27, 2026 16:01 ET | Source: Prospect Capital Corporation
NEW YORK, May 27, 2026 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) a leading business development company focused on investing in middle-market businesses, today announced the successful sale of Prospect's portfolio company Valley Electric Company, Inc. (“Valley Electric”) to MYR Group Inc. (“MYR”), a leading specialty contractor serving the electric utility infrastructure, commercial, and industrial construction markets.
The closing of the transaction is expected to occur on or about July 1, 2026 for consideration of approximately $328 million, subject to net asset, other post-closing purchase price adjustments and earn-out payment. Over the life of the Valley Electric investment since 2012 and including expected net exit proceeds of approximately $280 million (not including potential adjustments and earn-out payments), together with prior interest on debt, equity distributions, and other cash flow streams, Prospect will have achieved a 20.4% realized gross annualized internal rate of return ("IRR") and 4.8 times multiple of invested capital.
Founded in 1982, Valley Electric is a premier provider of electrical solutions for critical infrastructure across Washington state, California, and the Western United States. Valley Electric provides a comprehensive array of contracting services, including end-to-end installation, design-build, preventative maintenance, and related services for mission critical, transportation, and various industrial and commercial end markets.
During Prospect’s investment period, Valley Electric has achieved significant growth and geographical expansion, expanding revenues by 289% while strengthening Valley Electric's leading market position across targeted regions.
Prospect’s successful Valley Electric investment highlights our multi decade track record of identifying high-quality businesses and working alongside world-class management teams to drive value creation,” said Robert Melman, Managing Director at Prospect. “We are proud to have supported the Company in achieving strong growth while delivering attractive realized returns.”
About Prospect Capital Corporation
Prospect is a business development company that primarily lends to and invests in middle market privately-held companies. Prospect’s investment objective is to generate both current income and long-term capital appreciation.
Prospect has elected to be treated as a business development company under the Investment Company Act of 1940. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.
About MYR Group Inc.
MYR Group is a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets throughout the United States and Canada who have the experience and expertise to complete electrical installations of any type and size. Their comprehensive services on electric transmission and distribution networks and substation facilities include design, engineering, procurement, construction, upgrade, maintenance and repair services. Transmission and distribution customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Commercial and industrial electrical contracting services are provided to general contractors, commercial and industrial facility owners, local governments, and developers. For more information, visit myrgroup.com.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.
Internal Rate of Return (“IRR”) is the discount rate that makes the net present value of all cash flows related to a particular investment equal to zero. IRR is gross of general expenses not related to specific investments as these expenses are not allocable to specific investments. Investments are considered to be exited when the original investment objective has been achieved through the receipt of cash and/or non-cash consideration upon the repayment of a debt investment or sale of an investment or through the determination that no further consideration was collectible and, thus, a loss may have been realized. Prospect’s gross IRR calculations are unaudited. Information regarding internal rates of return are historical results relating to Prospect’s past performance and are not necessarily indicative of future results, the achievement of which cannot be assured.
For additional information, contact:
Grier Eliasek, President and Chief Operating Officer [email protected]
Telephone (212) 448-0702
THORNTON, Colo., May 27, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR” or the “Company”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada announced that it has entered into a definitive agreement to acquire all issued and outstanding shares of capital stock of Valley Holdings, Inc. and its subsidiaries (collectively, “Valley”), including Valley Electric Company, Inc. (Valley Electric) and Comet Electric, Inc. (Comet Electric) and their respective affiliates, for consideration of approximately $328.0 million, subject to net asset and other post-closing purchase price adjustments. The Company expects to fund the acquisition through a combination of cash on hand and borrowings under its revolving credit facility. Valley Electric, founded in 1982 and headquartered in Everett, Washington, is one of the largest full-service electrical contractors in the Western U.S., serving commercial, industrial, transportation/heavy civil, and marine markets. Comet Electric, founded in 1976 and headquartered in Chatsworth, California, is a premier commercial and industrial contractor operating in Southern California.
Over the last two years, the combined average annual revenues of Valley Electric and Comet Electric were in excess of $400 million.
“Valley Electric and Comet Electric each bring high-quality workforces and strong management teams with decades of experience, who share our culture, values and commitment to delivering superior service to our customers through operational excellence. We expect their diverse project portfolio, strong reputation, design skills, and other services will enhance our ability to capture projects. We are excited to welcome the employees of Valley Electric and Comet Electric to the MYR Group organization and look forward to making this a smooth transition,” said MYR Group’s President and CEO, Rick Swartz.
“The addition of Valley Electric and Comet Electric to MYR Group is expected to continue to strengthen our Commercial & Industrial segment service offerings and geographic reach, while expanding our market position as we continue to provide additional services to both new and existing customers,” said Rick Swartz.
Transaction Approvals and Closing Conditions
The transaction has been approved by the seller (Prospect Capital Corporation) and the Board of Directors of MYR Group and is expected to close on or about July 1, 2026, subject to receiving required regulatory approvals and the satisfaction of other customary closing conditions.
Stifel is serving as the exclusive financial advisor to Valley on the transaction.
About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.
About Valley Electric and Comet Electric Company
Valley Electric, founded in 1982 and headquartered in Everett, Washington, is one of the largest full‑service electrical contractors in the Western U.S., delivering comprehensive preconstruction, design‑build/assist, BIM, prefabrication, project management, electrical and low‑voltage systems, service, and predictive maintenance across commercial, industrial, transportation/heavy civil, and marine markets. Its subsidiary, Comet Electric, established in 1976 and headquartered in Chatsworth, California, shares the same full‑service capabilities and market reach, specializing in key sectors including transportation, aviation, mission‑critical/data centers, water/wastewater, industrial, education, healthcare, and commercial. For more information, visit velectric.com and cometelectric.com.
Forward-Looking Statements
Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenue, income, capital spending, segment improvements and investments. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “likely,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “unlikely,” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this announcement speak only as of the date of this announcement. We disclaim any obligation to update these statements (unless required by securities laws), and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Forward-looking statements in this announcement should be evaluated together with the many uncertainties that affect MYR's business, particularly those mentioned in the risk factors and cautionary statements in Item 1A. of MYR's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any risk factors or cautionary statements contained in MYR's subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.
MYR Group Inc. Contact:
Jennifer Harper, Vice President, Investor Relations & Treasurer, 847-979-5835, [email protected]
MYR Group Inc. (NASDAQ:MYRG) has agreed to acquire all outstanding capital stock of Valley Holdings Inc and its subsidiaries, including Valley Electric...
MYR Group Inc. (NASDAQ:MYRG) has agreed to acquire all outstanding capital stock of Valley Holdings Inc and its subsidiaries, including Valley Electric Company and Comet Electric, for approximately $328 million, expanding the specialty contractor's footprint in the Western US and Southern California.
The Thornton, Colorado-based electric utility infrastructure and commercial construction contractor will fund the purchase through a combination of cash on hand and borrowings under its revolving credit facility, with the consideration subject to net asset and other post-closing purchase price adjustments.
Valley Electric, founded in 1982 and headquartered in Everett, Washington, serves commercial, industrial, transportation, heavy civil and marine markets across the Western US.
Comet Electric, established in 1976 and based in Chatsworth, California, operates as a commercial and industrial contractor focused on Southern California.
The acquisition broadens MYR Group's reach in two regions where data center expansion, electrification, transportation infrastructure and utility upgrade work have driven demand for specialty electrical contractors.
The deal adds two operating platforms with established customer relationships in commercial and industrial construction and extends MYR Group's exposure to the marine and heavy civil segments.
