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Key Takeaways MYR Group posted record Q2 revenues of $1.08 billion, driven by strong C&I segment growth.The record $3.16 billion backlog provides revenue visibility as infrastructure investment remains strong.Valley Electric and Comet Electric acquisitions are expected to expand C&I capabilities and geographic reach. MYR Group (MYRG - Free Report) revenue growth has accelerated in 2026, reflecting continued strength across its core markets and solid execution across its Transmission & Distribution (T&D) and Commercial & Industrial (C&I) businesses. MYRG’s strong first-half performance, backlog and favorable infrastructure spending trends point to continued top-line momentum.

MYR Group generated record revenues of $1.08 billion in the second quarter of 2026, up 20.2% from the prior-year quarter. This followed a strong first quarter, with revenues rising 20% to $1 billion. Consequently, first-half revenues increased 20.1% year over year to $2.08 billion, underscoring the company’s strengthening growth trajectory.

The C&I segment was the primary growth engine in the second quarter, with revenues at a record $557.7 million. Revenues were up 41.5% year over year on higher revenues on fixed-price contracts. T&D revenues rose a modest 3.5% to $524 million, reflecting increased activity on time-and-equipment and unit-price contracts, partly offset by lower revenues on fixed-price contracts. 

MYRG’s record backlog of $3.16 billion at the end of the second quarter, up nearly 20% year over year, provides meaningful revenue visibility. The C&I backlog stood at $1.89 billion, while the T&D backlog was $ 1.27 billion.

Looking ahead, MYR Group appears well-positioned to sustain revenue growth supported by its healthy bidding pipeline, record backlog and continued investment in electrical infrastructure. The July acquisition of Valley Electric and Comet Electric is expected to expand its C&I capabilities and geographic reach. While project timing, execution challenges and cost pressures remain potential risks, MYR's accelerating revenue trend and strong end-market fundamentals provide a constructive outlook for continued top-line expansion. 

Rising electricity demand, driven by greater electrification, the growing adoption of Artificial Intelligence and increased power needs from the reshoring of manufacturing, is expected to spur significant customer investments across both of MYR’s reporting segments.

Peer Quanta Services (PWR - Free Report) reported record second-quarter 2026 revenues of $9.56 billion, representing a 41% increase over the prior-year period.  Total backlog was $53.44 billion as of June 30, 2026, reflecting continued demand across Quanta’s end markets. 

MasTec Inc. (MTZ - Free Report) delivered record revenues of $4.37 billion in the second quarter, up 23% year over year. MasTec’s estimated 18-month backlog was $21.39 billion at the quarter end, up 30% from a year earlier and 5.2% from $20.33 billion at the end of the first quarter. 

MYRG’s Price Performance, Valuation & EstimatesMYR Group shares have gained 60.7% in the past year, outperforming the industry's 75.4% fall.

Image Source: Zacks Investment Research

MYRG is currently trading at a forward 12-month P/E of 21.66X, a premium compared with the industry’s 18.24X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for 2026 points to year-over-year earnings growth of 61.2%, while the 2027 estimate implies growth of around 13.2%. 

Image Source: Zacks Investment Research

Earnings estimates for both years have moved up over the past 60 days. 

Image Source: Zacks Investment Research

MYR Group stock currently sports a Zacks Rank #1 (Strong Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

MYR Group (MYRG - Free Report) has been on a downward spiral lately with significant selling pressure. After declining 17.3% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.

We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.

RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.

Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.

So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.

However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.

Why MYRG Could Bounce Back Before LongThe RSI reading of 29.24 for MYRG is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.

The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for MYRG has increased 7.6%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.

Moreover, MYRG currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Deutsche Bank AG bought a new stake in shares of MYR Group, Inc. (NASDAQ:MYRG – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 16,782 shares of the utilities provider’s stock, valued at approximately $8,398,000. Deutsche Bank AG owned about 0.11% of MYR Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MYRG. First Trust Advisors LP grew its position in MYR Group by 23.5% during the first quarter. First Trust Advisors LP now owns 203,732 shares of the utilities provider’s stock worth $57,518,000 after buying an additional 38,726 shares in the last quarter. Geode Capital Management LLC raised its holdings in MYR Group by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 396,166 shares of the utilities provider’s stock valued at $86,574,000 after acquiring an additional 13,511 shares in the last quarter. Hel Ved Capital Management Ltd acquired a new position in MYR Group in the 4th quarter valued at approximately $3,525,000. Chase Investment Counsel Corp acquired a new position in MYR Group in the 2nd quarter valued at approximately $5,437,000. Finally, Hsbc Holdings PLC lifted its position in shares of MYR Group by 45.5% in the 1st quarter. Hsbc Holdings PLC now owns 9,137 shares of the utilities provider’s stock worth $2,542,000 after acquiring an additional 2,856 shares during the period. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Performance NASDAQ:MYRG opened at $310.87 on Monday. The firm has a market capitalization of $4.84 billion, a PE ratio of 29.49 and a beta of 1.34. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.01. MYR Group, Inc. has a 12-month low of $171.51 and a 12-month high of $503.57. The firm has a 50-day moving average price of $395.71 and a 200 day moving average price of $358.80.

MYR Group (NASDAQ:MYRG – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.55. MYR Group had a return on equity of 24.17% and a net margin of 4.13%.The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $995.74 million. During the same period in the previous year, the business earned $1.70 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Research analysts anticipate that MYR Group, Inc. will post 12.43 earnings per share for the current fiscal year. Insider Activity at MYR Group In other MYR Group news, Director Donald C.I. Lucky sold 14,675 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $449.53, for a total value of $6,596,852.75. Following the sale, the director directly owned 5,579 shares in the company, valued at $2,507,927.87. This represents a 72.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth Michael Hartwick sold 3,500 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $450.50, for a total value of $1,576,750.00. Following the transaction, the director owned 18,631 shares of the company’s stock, valued at $8,393,265.50. This represents a 15.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth Several analysts have recently weighed in on MYRG shares. Weiss Ratings reissued a “buy (b-)” rating on shares of MYR Group in a report on Friday, July 17th. Oppenheimer restated a “market perform” rating on shares of MYR Group in a research note on Thursday, June 11th. Zacks Research raised MYR Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Jefferies Financial Group set a $392.00 target price on MYR Group in a research report on Friday, July 10th. Finally, Stifel Nicolaus set a $503.00 price target on shares of MYR Group in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $451.20.

Get Our Latest Stock Analysis on MYR Group

About MYR Group (Free Report)

MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.

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On August 18, 2026, MYR Group Inc
MYRG -4.91% 91

shares fell 4.9%, bringing the current price to $324.18. This decline comes after a challenging month, with the stock down 17.3%. Over the past year, however, MYRG has experienced impressive growth, increasing by 76.6%, and is currently trading within a 52-week range of $171.51 to $503.57.

GF Value™ verdict: MYRG is trading at $324.18, which is 65.4% above the estimated fair value of $196.01.GF Score™: MYRG has a score of 91/100, indicating strong overall performance.Most notable signal: Insiders have sold $11.2 million worth of shares over the past 12 months without any buying activity.Is MYRG Overvalued or Undervalued?According to GF Value™, MYR Group Inc is currently significantly overvalued. The current price of $324.18 is 65.4% above the GF Value estimate of $196.01, highlighting a substantial margin of safety for potential investors. GF Value™ is GuruFocus' proprietary intrinsic-value estimate, which considers historical trading multiples, past business growth, and future performance estimates. With such a large gap between the current price and the estimated fair value, there is a notable risk for investors, as the stock may be subject to corrections or declines in value.

Furthermore, the GF Valuation label indicates that MYRG is significantly overvalued, suggesting that the stock may not provide a favorable risk-reward scenario at its current price. Investors should be cautious and consider this overvaluation when making decisions regarding MYRG stock.

How Does MYRG's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)30.7x27.9x (5-Year Median)Forward P/E27.2x-Currently, MYRG's price-to-earnings (P/E) ratio stands at 30.7x, which is 10% above its five-year median P/E of 27.9x. The forward P/E of 27.2x suggests that analysts expect the company to slightly improve its earnings in the near term. This P/E analysis aligns with the GF Value™ verdict, reinforcing the conclusion that MYRG is overvalued at present.

What Does MYRG's GF Score™ Tell Us?GF Score™ is a comprehensive measure that evaluates a company's performance across multiple dimensions, including financial strength, profitability, growth, valuation, and momentum. MYRG's impressive score of 91/100 reflects its overall strong performance, particularly in growth and profitability, while its valuation rank indicates some concerns.

MetricRatingGF Score™91Financial Strength8/10Profitability9/10Growth10/10Valuation3/10Momentum9/10The strongest areas for MYRG include growth (10/10) and profitability (9/10), indicating robust operational performance. However, the valuation rank of 3/10 highlights concerns regarding the stock's current price relative to its intrinsic value, which contributes to the overall assessment of overvaluation.

What Are Gurus and Insiders Doing with MYRG?Currently, eight gurus hold MYRG stock, with five increasing their positions and four trimming their holdings in recent quarters. This mixed signal from guru activity suggests a divided opinion among sophisticated investors regarding MYRG's future prospects. Notably, insider activity shows that insiders sold $11.2 million worth of shares over the past year, with no buying activity from them. This lack of insider buying, combined with significant selling, could indicate a lack of confidence in the stock's near-term performance.

In summary, the guru ownership and insider activity provide important context, suggesting that while some institutional investors remain optimistic, the selling by insiders may raise flags for potential investors.

What This Means for InvestorsIn conclusion, MYR Group Inc is currently overvalued based on its GF Value™ estimate, with a significant margin of safety indicating potential risks. The high GF Score™ denotes strong operational performance, but the low valuation rank and insider selling suggest caution is warranted. For those interested in the stock, it may be prudent to closely monitor its price movements and consider the implications of insider activity.

For more detailed information, visit the MYR Group Inc
MYRG -4.91% 91

stock page and explore the GF Value™ page for insights into its valuation.

Frequently Asked QuestionsWhat is MYRG's GF Score™?

MYRG has a GF Score™ of 91/100, which indicates strong overall performance across various metrics.

Is MYRG overvalued or undervalued?

MYRG is currently overvalued, with a GF Value™ estimate indicating that the stock is 65.4% above its fair value.

What is MYRG's P/E ratio?

MYRG's P/E ratio is 30.7x, which is 10% above its five-year median of 27.9x, 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].

Posted by Defense World Staff on Aug 8th, 2026

Amundi increased its stake in shares of MYR Group, Inc. (NASDAQ:MYRG – Free Report) by 44.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,828 shares of the utilities provider’s stock after buying an additional 1,482 shares during the period. Amundi’s holdings in MYR Group were worth $1,363,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MYRG. First Trust Advisors LP boosted its position in shares of MYR Group by 23.5% in the 1st quarter. First Trust Advisors LP now owns 203,732 shares of the utilities provider’s stock worth $57,518,000 after purchasing an additional 38,726 shares during the last quarter. Geode Capital Management LLC increased its holdings in MYR Group by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 396,166 shares of the utilities provider’s stock valued at $86,574,000 after purchasing an additional 13,511 shares during the last quarter. Hel Ved Capital Management Ltd acquired a new position in MYR Group in the fourth quarter valued at about $3,525,000. Hsbc Holdings PLC raised its stake in MYR Group by 45.5% during the 1st quarter. Hsbc Holdings PLC now owns 9,137 shares of the utilities provider’s stock worth $2,542,000 after buying an additional 2,856 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of MYR Group by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 376,175 shares of the utilities provider’s stock worth $106,187,000 after purchasing an additional 10,198 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Ratings Changes MYRG has been the topic of a number of recent research reports. Robert W. Baird set a $375.00 price objective on shares of MYR Group in a report on Thursday, July 30th. Oppenheimer restated a “market perform” rating on shares of MYR Group in a research note on Thursday, June 11th. Cantor Fitzgerald lifted their price objective on shares of MYR Group from $311.00 to $564.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Zacks Research downgraded shares of MYR Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Wall Street Zen lowered shares of MYR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Get Our Latest Analysis on MYR Group

MYR Group Stock Up 1.9% Shares of NASDAQ MYRG opened at $337.42 on Friday. The company has a 50 day simple moving average of $417.77 and a 200 day simple moving average of $352.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.40 and a quick ratio of 1.40. MYR Group, Inc. has a 1 year low of $171.51 and a 1 year high of $503.57. The firm has a market cap of $5.25 billion, a PE ratio of 32.01 and a beta of 1.34.

MYR Group (NASDAQ:MYRG – Get Free Report) last announced its earnings results on Wednesday, July 29th. The utilities provider reported $3.17 EPS for the quarter, topping the consensus estimate of $2.62 by $0.55. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $995.74 million. MYR Group had a return on equity of 24.17% and a net margin of 4.13%.The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.70 EPS. On average, research analysts forecast that MYR Group, Inc. will post 12.35 EPS for the current year.

Insider Transactions at MYR Group In other news, Director Donald C.I. Lucky sold 14,675 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $449.53, for a total value of $6,596,852.75. Following the completion of the sale, the director owned 5,579 shares in the company, valued at $2,507,927.87. This represents a 72.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth Michael Hartwick sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $450.50, for a total transaction of $1,576,750.00. Following the transaction, the director directly owned 18,631 shares in the company, valued at $8,393,265.50. The trade was a 15.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company’s stock.

About MYR Group (Free Report)

MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.

Recommended Stories Five stocks we like better than MYR Group Datadog’s Drop Says More About Expectations Than Earnings D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus Solventum Nears Inflection Point As It Begins to Unlock Value Want to see what other hedge funds are holding MYRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MYR Group, Inc. (NASDAQ:MYRG – Free Report).

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Key Takeaways MYR reports record Q2 revenues, earnings and backlog, with results topping expectations.MYRG's C&I revenues rise 41.5%, driven by data centers and mission-critical projects.MYR backlog reaches a record $3.16B, supported by grid, transmission and power demand. MYR Group, Inc. (MYRG - Free Report) reported strong second-quarter 2026 results, with both earnings and revenues surpassing expectations. The specialty electrical contractor benefited from solid demand across its end markets, particularly in commercial and industrial construction, while backlog climbed to a record level.

Management highlighted continued momentum from investments in grid modernization, electrification, data center construction and other infrastructure projects. The company also pointed to a healthy bidding environment and a robust pipeline of future opportunities across its Transmission & Distribution (T&D) and Commercial & Industrial (C&I) businesses.

MYR Group reported second-quarter earnings of $3.17 per share, which beat the Zacks Consensus Estimate of $2.64 by 20.1%. Revenues increased 20.1% year over year to a record $1.08 billion and topped the consensus estimate of $995.5 million by approximately 8.8%.

Revenue Growth Driven by Strong C&I PerformanceTotal revenues increased to $1.08 billion from $900.3 million in the prior-year quarter. The growth was led by the Commercial & Industrial segment, where revenues surged 41.5% year over year to a record $557.7 million.

The segment benefited from higher activity in data centers, advanced manufacturing, transportation and other mission-critical infrastructure projects. Meanwhile, T&D revenues rose 3.5% to $524 million, supported by continued utility spending on transmission and distribution infrastructure.

Margins Expand on Favorable Project ExecutionGross profit increased 37.6% year over year to $142.7 million, while gross margin expanded 170 basis points to 13.2%. The improvement reflected better-than-expected productivity, favorable project closeouts and increased project scope on certain contracts.

Operating income climbed to $67.9 million from $39.8 million in the year-ago period. T&D operating margin improved to 9.4% from 8.0%, while C&I operating margin expanded to 8.5% from 5.6%, aided by strong project execution and a favorable mix of higher-margin work.

Record Backlog Reflects Healthy Demand EnvironmentA key highlight of the quarter was backlog growth. As of June 30, 2026, backlog reached a record $3.16 billion, up 19.6% from $2.64 billion a year earlier.

T&D backlog totaled $1.27 billion, while C&I backlog stood at $1.89 billion. Management noted that investments in grid reliability, transmission infrastructure and growing electricity demand continue to support a robust pipeline of opportunities.

Project Wins and Acquisition Support Growth OutlookDuring the quarter, MYR secured several notable awards, including more than $200 million of transmission work from Xcel Energy. The company also won multiple data center projects across New Jersey, Arizona and Colorado, underscoring strong demand in the mission-critical infrastructure market.

Management also discussed the recently completed acquisition of Valley Electric and Comet Electric, which closed on July 1. The acquisition expands MYR's commercial and industrial capabilities and geographic footprint. The company expects the acquired businesses to contribute roughly $250 million in revenues during the second half of 2026.

Management Remains Optimistic on End-Market TrendsDuring the earnings call, executives highlighted continued strength across key end markets, including data centers, utilities, advanced manufacturing and transportation infrastructure.

Management noted that utilities continue to plan large transmission projects extending into 2028 and beyond, while commercial customers remain active across a broad range of industries. The company also emphasized its disciplined approach to project selection and its strong relationships with long-standing customers.

What Zacks Rank and Style Scores SignalMYR currently carries a Zacks Rank #3 (Hold), suggesting that the stock is expected to perform in line with the broader market over the near term. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The stock also holds a Value Score of C, Growth Score of A, Momentum Score of A and VGM Score of A. The strong Growth, Momentum and VGM scores reflect MYR Group's solid earnings growth prospects, favorable price performance and attractive overall fundamental profile. Investors looking for companies with a combination of growth potential and positive momentum may find the stock worth monitoring, although the Hold-ranked status suggests waiting for additional positive estimate revisions before becoming more aggressive.

2 Pick-and-Shovel Plays for Major Digital Infrastructure BuildoutMYR Group NASDAQ: MYRG reported record second-quarter revenue, earnings and backlog as demand for electrical infrastructure work remained steady across its transmission and distribution and commercial and industrial operations.

Revenue for the quarter ended June 30 rose 20% from a year earlier to a record $1.08 billion. Net income increased to a record $50 million, or $3.17 per diluted share, from $27 million, or $1.70 per diluted share, in the prior-year period. EBITDA reached a record $85 million, compared with $56 million a year earlier.

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Construction activity suddenly booming, 3 stocks you can't miss“We achieved solid second-quarter financial results reflecting consistent performance throughout our business,” President and Chief Executive Officer Rick Swartz said. He said ongoing infrastructure investments and electrification initiatives continued to support activity across the company’s markets.

Margins Improve in Both Segments Gross margin increased to 13.2% from 11.5% a year earlier. Chief Financial Officer Kelly Huntington attributed the improvement primarily to better-than-expected productivity, favorable project closeouts and expanded scope on certain projects. Those benefits were partly offset by costs associated with inefficiencies on other projects.

Transmission and Distribution, or T&D, revenue rose 4% year over year to $524 million. The increase was driven mainly by higher revenue from time-and-materials and unit-price contracts, partly offset by lower fixed-price-contract revenue. Work performed under master service agreements accounted for about 65% of T&D revenue.

T&D operating income margin rose to 9.4% from 8.0% in the prior-year quarter, reflecting productivity, project closeouts and added scope, partially offset by project inefficiencies.

Commercial and Industrial, or C&I, revenue increased 42% to a record $558 million, primarily due to higher fixed-price-contract revenue. C&I operating income margin rose to 8.5% from 5.6%, aided by productivity on projects nearing completion, expanded project scope and a greater portion of work advancing at higher contractual margins.

Swartz said the company still expects full-year operating margins to fall in the middle of its stated target ranges: 6% to 9% for C&I and 8% to 11% for T&D. He said the company has seen strong project closeouts and performance across its portfolio, but its full-year outlook has not changed.

Backlog Reaches $3.16 Billion Total backlog at June 30 was a record $3.16 billion, up 20% from a year earlier. The backlog included $1.27 billion in T&D and $1.89 billion in C&I work.

During the quarter, T&D subsidiary The L.E. Myers Co. received two Xcel Energy transmission awards with a combined value exceeding $200 million. Swartz said the projects were included in backlog and represent the large-project awards management had anticipated. He said revenue from those projects is expected to begin contributing primarily in the second half of 2027 and continue over roughly an 18-month period.

Other T&D awards included a 500-kilovolt substation project in Arizona, a 345-kilovolt transmission rebuild in Texas, a greenfield substation project in Colorado, substation work in New Mexico and a substation expansion project in Ohio.

Brian Stern, senior vice president and chief operating officer of T&D, said the segment continued to see steady bidding activity as utilities invest in grid modernization and reliability. Swartz said the company believes it is positioned to pursue additional large transmission work, including potential 765-kilovolt projects that are more likely to begin in 2028 or later.

C&I Activity Includes Data Centers and Other Markets In C&I, the company reported awards for data center work in New Jersey, Arizona and Colorado, along with aerospace work in California and hospitality and higher-education projects in New York.

Don Egan, senior vice president and chief operating officer of C&I, said bidding remained healthy and backlog growth was supported by a mix of new opportunities and repeat business. He pointed to sustained investment in data centers, grid modernization, power infrastructure and industrial facilities.

Swartz said the company is maintaining a diversified C&I portfolio rather than focusing solely on data centers. He said MYR continues to see activity in advanced manufacturing, transportation and other key end markets, with projects being budgeted and evaluated for construction in 2028, 2029 and 2030.

Valley and Comet Acquisition Closes After the quarter ended, MYR completed its acquisition of Valley Electric and Comet Electric on July 1. The company acquired Valley Holdings and its subsidiaries for initial cash consideration of $328 million, subject to working-capital and net-asset adjustments.

MYR funded the purchase with approximately $93 million of cash on hand and $235 million of borrowings under its revolving credit facility. Huntington said the acquired businesses are expected to contribute about $250 million of revenue during the remainder of 2026. However, she said their contribution to earnings per share and operating income is expected to be more neutral during the first year because of higher amortization expense, including amortization related to acquired backlog.

Swartz said the acquired companies have capabilities similar to MYR’s existing C&I operations, including strong customer relationships and prefabrication capabilities. He said the company sees opportunities to leverage both organizations’ customer bases and expand market reach.

MYR ended the quarter with $307 million in working capital, $138 million in cash and cash equivalents, $9 million of funded debt and $460 million in borrowing availability under its credit facility before the acquisition financing. Operating cash flow was $3 million, down from $33 million a year earlier, while free cash flow was negative $26 million. Huntington said the decline reflected the timing of tax payments, billings and project-related payments, as well as higher capital expenditures to support future growth.

About MYR Group (NASDAQ:MYRG)MYR Group Inc NASDAQ: MYRG is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.

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Posted by Defense World Staff on Jul 30th, 2026

Shares of MYR Group, Inc. (NASDAQ:MYRG – Get Free Report) have been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $389.8333.

A number of brokerages have commented on MYRG. Oppenheimer restated a “market perform” rating on shares of MYR Group in a research note on Thursday, June 11th. Zacks Research downgraded shares of MYR Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Robert W. Baird set a $373.00 price target on MYR Group in a report on Thursday, April 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of MYR Group in a research note on Friday, July 17th. Finally, Stifel Nicolaus set a $503.00 price objective on MYR Group in a report on Monday, May 4th.

View Our Latest Report on MYR Group

Insider Buying and Selling at MYR Group In other news, Director Kenneth Michael Hartwick sold 3,500 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $450.50, for a total transaction of $1,576,750.00. Following the transaction, the director owned 18,631 shares of the company’s stock, valued at approximately $8,393,265.50. This represents a 15.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald C.I. Lucky sold 14,675 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $449.53, for a total value of $6,596,852.75. Following the transaction, the director owned 5,579 shares in the company, valued at approximately $2,507,927.87. This represents a 72.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MYR Group Several large investors have recently modified their holdings of MYRG. Bank of Montreal Can increased its stake in shares of MYR Group by 0.8% in the 4th quarter. Bank of Montreal Can now owns 6,038 shares of the utilities provider’s stock valued at $1,319,000 after purchasing an additional 50 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new stake in shares of MYR Group during the second quarter worth approximately $30,000. Captrust Financial Advisors raised its stake in MYR Group by 0.7% in the 4th quarter. Captrust Financial Advisors now owns 8,556 shares of the utilities provider’s stock valued at $1,869,000 after purchasing an additional 61 shares during the last quarter. Cetera Investment Advisers lifted its holdings in MYR Group by 2.2% in the 4th quarter. Cetera Investment Advisers now owns 2,837 shares of the utilities provider’s stock valued at $620,000 after purchasing an additional 62 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in MYR Group by 65.7% in the 4th quarter. Signaturefd LLC now owns 164 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Down 5.5% Shares of MYRG opened at $322.06 on Monday. The firm has a fifty day moving average price of $435.13 and a 200-day moving average price of $348.61. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5.01 billion, a P/E ratio of 35.51 and a beta of 1.31. MYR Group has a 12-month low of $171.51 and a 12-month high of $503.57.

MYR Group (NASDAQ:MYRG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $3.17 EPS for the quarter, topping the consensus estimate of $2.62 by $0.55. MYR Group had a net margin of 3.71% and a return on equity of 22.14%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $995.74 million. During the same quarter last year, the firm posted $1.70 EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. Equities research analysts expect that MYR Group will post 11.43 earnings per share for the current year.

About MYR Group (Get Free Report)

MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.

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THORNTON, Colo., July 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 second-quarter and first-half 2026 financial results.

Highlights for Second Quarter 2026

Record quarterly revenues of $1.08 billionRecord quarterly net income of $49.9 million, or $3.17 per diluted shareRecord quarterly EBITDA of $85.0 millionRecord backlog of $3.16 billion Management Comments
Rick Swartz, MYR’s President and CEO, said, “Our strong second quarter performance drove record quarterly revenues of $1.08 billion, while backlog reached $3.16 billion at quarter-end. These results reflect the continued strength of our core markets, ongoing investment in electrical infrastructure, and sustained customer demand across our business. The acquisition of Valley Electric and Comet Electric, which closed on July 1, further enhances our C&I capabilities and expands our geographic footprint, allowing us to deliver a broader range of solutions to both existing and new customers. We continue to see a healthy pipeline of quality bidding opportunities and remain focused on pursuing strategic growth opportunities while strengthening the long-standing relationships that are central to our success. With strong market fundamentals, a growing portfolio of capabilities, and a disciplined approach to project selection and execution, we believe we are well positioned to deliver continued growth and create long-term value for our shareholders.”

Second Quarter Results
MYR reported second-quarter 2026 revenues of $1.08 billion, an increase of $181.4 million, compared to the second quarter of 2025. Specifically, our Transmission and Distribution (“T&D”) segment reported quarterly revenues of $524.0 million, an increase of $17.7 million, from the second quarter of 2025, due to increases in revenue on T&E contracts and unit price contracts, partially offset by a decrease in revenue on fixed price contracts. Our Commercial and Industrial (“C&I”) segment reported record quarterly revenues of $557.7 million, an increase of $163.6 million, from the second quarter of 2025, primarily due to an increase in revenue on fixed priced contracts.

Consolidated gross profit increased to $142.7 million in the second quarter of 2026, compared to $103.7 million for the second quarter of 2025. The increase in gross profit was due to higher margin and revenues. Gross margin increased to 13.2 percent for the second quarter of 2026 from 11.5 percent for the second quarter of 2025. The increase in gross margin was primarily due to significant changes in our estimated gross profit on certain projects, related to better-than-anticipated productivity, favorable job close outs and an increase in scope on certain projects. 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 0.9 percent for the second quarter of 2026, compared to a net gross margin decrease of 1.0 percent for the second quarter of 2025.

Selling, general and administrative expenses ("SG&A") increased to $74.4 million in the second quarter of 2026, compared to $63.3 million for the second 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 second quarter of 2026. Interest income was not significant for the second quarter of 2025. The period-over-period increase was primarily due to higher average balances held in money market accounts in the second quarter of 2026 as compared to the second quarter of 2025.

Interest expense decreased to $0.7 million in the second quarter of 2026, compared to $1.9 million for the second quarter of 2025. The period-over-period decrease was primarily due to lower average outstanding debt balances during the second quarter of 2026 as compared to the second quarter of 2025.

Income tax expense was $17.3 million for the second quarter of 2026, with an effective tax rate of 25.7 percent, compared to an income tax expense of $10.9 million for the second quarter of 2025, with an effective tax rate of 29.2 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 second quarter of 2026, net income was $49.9 million, or $3.17 per diluted share, compared to $26.5 million, or $1.70 per diluted share, for the same period of 2025. Second-quarter 2026 EBITDA, a non-GAAP financial measure, was $85.0 million, compared to $55.6 million in the second quarter of 2025.

First-Half Results
MYR reported first-half 2026 revenues of $2.08 billion, an increase of $348.2 million, compared to the first half of 2025. Specifically, our T&D segment reported revenues of $1.06 billion, an increase of $97.0 million, from the first half 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 C&I segment reported revenues of $1.02 billion, an increase of $251.2 million, from the first half of 2025, primarily due to an increase in revenue on fixed priced contracts.

Consolidated gross profit increased to $277.1 million in the first half of 2026, compared to $200.6 million in the first half of 2025. The increase in gross profit was due to higher margin and revenues. Gross margin increased to 13.3 percent for the first half of 2026 from 11.6 percent for the first half of 2025. The increase in gross margin was primarily due to significant changes in our estimated gross profit on certain projects, related to better-than-anticipated productivity, an increase in scope on certain projects and favorable job close outs. These margin increases were partially offset by an increase in costs associated with project inefficiencies on certain projects. Gross margin was also positively impacted during the first half of 2026, by a larger portion of our projects progressing at higher contractual margins, some of which are nearing or are at completion. Changes in estimates of gross profit on certain projects resulted in a net gross margin increase of 0.7 percent for the first half of 2026, compared to a net gross margin decrease of 1.2 percent for the first half of 2025.

SG&A increased to $143.8 million in the first half of 2026, compared to $125.8 million for the first half 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 $1.8 million in the first half of 2026, compared to $0.2 million for the first half of 2025. The period-over-period increase was primarily due to higher average balances held in money market accounts in the first half of 2026 as compared to the first half of 2025.

Interest expense decreased to $1.4 million in the first half of 2026, compared to $3.3 million for the first half of 2025. The period-over-period decrease was primarily due to lower average outstanding debt balances and lower interest rates during the first half of 2026 as compared to the first half of 2025.

Income tax expense was $34.5 million for the first half of 2026, with an effective tax rate of 26.3 percent, compared to income tax expense of $20.4 million for the first half of 2025, with an effective tax rate of 29.1 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 NCTI and other permanent difference items.

For the first half of 2026, net income was $96.7 million, or $6.15 per diluted share, compared to $49.8 million, or $3.15 per diluted share, for the same period of 2025.

Backlog
As of June 30, 2026, MYR's backlog was $3.16 billion, which was an increase of $518.4 million, or 19.6 percent, from the $2.64 billion reported as of June 30, 2025. As of June 30, 2026, T&D backlog was $1.27 billion and C&I backlog was $1.89 billion.

Balance Sheet
As of June 30, 2026, MYR had $460.5 million of borrowing availability under its $490 million revolving credit facility and $137.9 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 second-quarter 2026 results on Thursday, July 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/BIbbc17de83db84b5cb42140dcb9c30efe. 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.

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 June 30, 2026 and December 31, 2025 (in thousands, except share and per share data)June 30,
2026 December 31,
2025 (unaudited)  ASSETS   Current assets:   Cash and cash equivalents$137,872  $150,156 Accounts receivable, net of allowances of $2,190 and $934, respectively 653,787   603,735 Contract assets, net of allowances of $514 and $534, respectively 225,053   241,766 Current portion of receivable for insurance claims in excess of deductibles 10,062   10,122 Refundable income taxes 9,130   — Prepaid expenses and other current assets 41,722   54,982 Total current assets 1,077,626   1,060,761 Property and equipment, net of accumulated depreciation of $435,570 and $413,962, respectively 315,657   306,386 Operating lease right-of-use assets 56,212   42,448 Goodwill 113,495   115,266 Intangible assets, net of accumulated amortization of $41,854 and $39,967, respectively 68,898   72,476 Receivable for insurance claims in excess of deductibles 19,208   21,358 Deferred income taxes 9,822   12,723 Investment in joint ventures 3,187   3,224 Other assets 8,360   9,437 Total assets$1,672,465  $1,644,079     LIABILITIES AND SHAREHOLDERS' EQUITY   Current liabilities:   Current portion of long-term debt$4,650  $4,554 Current portion of operating lease obligations 13,100   13,019 Current portion of finance lease obligations 790   804 Accounts payable 338,888   314,789 Contract liabilities, net 245,822   300,560 Current portion of accrued self-insurance 29,880   28,499 Accrued income taxes —   15,129 Other current liabilities 137,547   117,923 Total current liabilities 770,677   795,277 Deferred income tax liabilities 49,860   50,119 Long-term debt 4,722   54,483 Accrued self-insurance 40,525   42,827 Operating lease obligations, net of current maturities 43,065   29,429 Finance lease obligations, net of current maturities 777   1,220 Other liabilities 8,422   10,301 Total liabilities 918,048   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 June 30, 2026 and December 31, 2025 —   — Common stock—$0.01 par value per share; 100,000,000 authorized shares; 15,569,250 and 15,522,834 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 155   155 Additional paid-in capital 165,785   165,211 Accumulated other comprehensive loss (11,127)  (8,183)Retained earnings 599,604   503,240 Total shareholders’ equity 754,417   660,423 Total liabilities and shareholders’ equity$1,672,465  $1,644,079   MYR GROUP INC.
Unaudited Consolidated Statements of Operations
Three and Six Months Ended June 30, 2026 and 2025  Three months ended
June 30, Six months ended
June 30,(in thousands, except per share data) 2026   2025   2026   2025 Contract revenues$1,081,727  $900,325  $2,082,107  $1,733,945 Contract costs 939,054   796,614   1,804,994   1,533,333 Gross profit 142,673   103,711   277,113   200,612 Selling, general and administrative expenses 74,409   63,313   143,832   125,837 Amortization of intangible assets 1,210   1,211   2,427   2,399 Gain on sale of property and equipment (891)  (600)  (1,813)  (1,701)Income from operations 67,945   39,787   132,667   74,077 Other income (expense):       Interest income 866   45   1,776   236 Interest expense (706)  (1,905)  (1,365)  (3,319)Other expense, net (974)  (533)  (1,922)  (833)Income before provision for income taxes 67,131   37,394   131,156   70,161 Income tax expense 17,280   10,928   34,505   20,387 Net income$49,851  $26,466  $96,651  $49,774 Income per common share:       —Basic$3.20  $1.70  $6.21  $3.16 —Diluted$3.17  $1.70  $6.15  $3.15 Weighted average number of common shares and potential common shares outstanding:       —Basic 15,577   15,527   15,558   15,759 —Diluted 15,731   15,575   15,712   15,813   MYR GROUP INC.
Unaudited Consolidated Statements of Cash Flows
Six Months Ended June 30, 2026 and 2025
  Six months ended
June 30,(in thousands) 2026   2025 Cash flows from operating activities:   Net income$96,651  $49,774 Adjustments to reconcile net income to net cash flows provided by operating activities:   Depreciation and amortization of property and equipment 33,344   30,139 Amortization of intangible assets 2,427   2,399 Stock-based compensation expense 8,888   5,759 Deferred income taxes 2,743   347 Gain on sale of property and equipment (1,813)  (1,701)Other non-cash items 233   (180)Changes in operating assets and liabilities:   Accounts receivable, net (51,471)  55,665 Contract assets, net 15,634   (37,597)Receivable for insurance claims in excess of deductibles 2,210   (742)Other assets 6,397   4,737 Accounts payable 26,218   11,133 Contract liabilities, net (54,094)  (41,086)Accrued self-insurance (907)  872 Other liabilities 1,614   36,628    Net cash flows provided by operating activities 88,074   116,147 Cash flows from investing activities:   Proceeds from sale of property and equipment 2,370   3,726 Purchases of property and equipment (45,048)  (34,289)   Net cash flows used in investing activities (42,678)  (30,563)Cash flows from financing activities:   Borrowings under revolving lines of credit 48,003   488,553 Repayments under revolving lines of credit (95,417)  (474,695)Payment of principal obligations under equipment notes (2,251)  (2,158)Payment of principal obligations under finance leases (396)  (568)Repurchase of common stock —   (75,000)Payments related to tax withholding for stock-based compensation (7,294)  (2,653)   Net cash flows used in financing activities (57,355)  (66,521)   Effect of exchange rate changes on cash (325)  429 Net increase (decrease) in cash and cash equivalents (12,284)  19,492 Cash and cash equivalents:   Beginning of period 150,156   3,464 End of period$137,872  $22,956   MYR GROUP INC.
Unaudited Consolidated Selected Data,
Unaudited Performance Measure and Reconciliation of Non-GAAP Measure
For the Three, Six and Twelve Months Ended June 30, 2026 and 2025 and
As of June 30, 2026, December 31, 2025, June 30, 2025 and June 30, 2024  Three months ended
June 30, Last twelve months ended
June 30, (dollars in thousands, except share and per share data) 2026   2025   2026   2025  Summary Statement of Operations Data:        Contract revenues$1,081,727  $900,325  $4,006,051  $3,451,783  Gross profit$142,673  $103,711  $500,287  $363,845  Income from operations$67,945  $39,787  $225,462  $124,595  Income before provision for income taxes$67,131  $37,394  $222,279  $115,695  Income tax expense$17,280  $10,928  $56,986  $39,320  Net income$49,851  $26,466  $165,293  $76,375  Tax rate 25.7%  29.2%  25.6%  34.0%          Per Share Data:        Income per common share:        – Basic$3.20  $1.70  $10.63 (1)$4.80 (1)– Diluted$3.17  $1.70  $10.54 (1)$4.79 (1)Weighted average number of common shares and potential common shares outstanding:        – Basic 15,577   15,527   15,543 (2) 15,982 (2)– Diluted 15,731   15,575   15,674 (2) 16,035 (2) (in thousands)June 30,
2026 December 31,
2025 June 30,
2025 June 30,
2024Summary Balance Sheet Data:           Total assets$1,672,465  $1,644,079  $1,497,157  $1,485,953 Total shareholders’ equity$754,417  $660,423  $583,234  $633,342 Goodwill and intangible assets$182,393  $187,742  $190,514  $195,227 Total funded debt (3)$9,372  $59,037  $86,081  $45,065   Three months ended
June 30, Six months ended
June 30,(dollars in thousands) 2026   2025   2026   2025 Segment Results:Amount Percent Amount Percent Amount Percent Amount PercentContract revenues:               Transmission & Distribution$524,022  48.4% $506,273  56.2% $1,064,992  51.1% $968,043  55.8%Commercial & Industrial 557,705  51.6   394,052  43.8   1,017,115  48.9   765,902  44.2 Total$1,081,727  100.0% $900,325  100.0% $2,082,107  100.0% $1,733,945  100.0%Operating income:               Transmission & Distribution$49,513  9.4% $40,465  8.0% $101,723  9.6% $76,686  7.9%Commercial & Industrial 47,289  8.5   21,992  5.6   84,493  8.3   39,369  5.1 Total 96,802  8.9   62,457  6.9   186,216  8.9   116,055  6.7 Corporate (28,857) (2.6)  (22,670) (2.5)  (53,549) (2.5)  (41,978) (2.4)Consolidated$67,945  6.3% $39,787  4.4% $132,667  6.4% $74,077  4.3%                             See notes at the end of this earnings release

 MYR GROUP INC.
Unaudited Performance Measures and Reconciliation of Non-GAAP Measures
Three and Twelve Months Ended June 30, 2026 and 2025  Three months ended
June 30, Last twelve months ended
June 30,(in thousands, except share, per share data, ratios and percentages) 2026   2025   2026   2025         Financial Performance Measures (4):       EBITDA (5)$84,979  $55,599  $293,455  $188,439 EBITDA per Diluted Share (6)$5.40  $3.57  $18.72  $11.77 EBIA, net of taxes (7)$50,631  $28,640  $169,963  $84,258 Free Cash Flow (8)$(25,591) $11,638  $193,363  $108,625 Book Value per Period End Share (9)$47.98  $37.46     Tangible Book Value (10)$572,024  $392,720     Tangible Book Value per Period End Share (11)$36.38  $25.22     Funded Debt to Equity Ratio (12) 0.01   0.15     Asset Turnover (13)     2.68   2.32 Return on Assets (14)     11.0%  5.1%Return on Equity (15)     28.3%  12.1%Return on Invested Capital (16)     26.7%  12.7%        Reconciliation of Non-GAAP Measures:       Reconciliation of Net Income to EBITDA:       Net income$49,851  $26,466  $165,293  $76,375 Interest (income) expense, net (160)  1,860   1,431   7,121 Income tax expense 17,280   10,928   56,986   39,320 Depreciation and amortization 18,008   16,345   69,745   65,623 EBITDA (5)$84,979  $55,599  $293,455  $188,439         Reconciliation of Net Income per Diluted Share to EBITDA per Diluted Share:       Net income per share$3.17  $1.70  $10.54  $4.79 Interest (income) expense, net, per share (0.01)  0.12   0.09   0.44 Income tax expense per share 1.10   0.70   3.64   2.45 Depreciation and amortization per share 1.14   1.05   4.45   4.09 EBITDA per Diluted Share (6)$5.40  $3.57  $18.72  $11.77         Reconciliation of Non-GAAP measure:       Net income$49,851  $26,466  $165,293  $76,375 Interest (income) expense, net (160)  1,860   1,431   7,121 Amortization of intangible assets 1,210   1,211   4,846   4,823 Tax impact of interest and amortization of intangible assets (270)  (897)  (1,607)  (4,061)EBIA, net of taxes (7)$50,631  $28,640  $169,963  $84,258         Calculation of Free Cash Flow:       Net cash flow from operating activities$3,325  $32,861  $298,494  $172,891 Less: cash used in purchasing property and equipment (28,916)  (21,223)  (105,131)  (64,266)Free Cash Flow (8)$(25,591) $11,638  $193,363  $108,625          See notes at the end of this earnings release.

MYR GROUP INC.
Unaudited Performance Measures and Reconciliation of Non-GAAP Measures
As of June 30, 2026, 2025 and 2024 (in thousands, except per share amounts)June 30, 2026 June 30, 2025Reconciliation of Book Value to Tangible Book Value:   Book value (total shareholders' equity)$754,417  $583,234 Goodwill and intangible assets (182,393)  (190,514)Tangible Book Value (10)$572,024  $392,720     Reconciliation of Book Value per Period End Share to Tangible Book Value per Period End Share:   Book value per period end share$47.98  $37.46 Goodwill and intangible assets per period end share (11.60)  (12.24)Tangible Book Value per Period End Share (11)$36.38  $25.22     Calculation of Period End Shares:   Shares outstanding 15,569   15,523 Plus: common equivalents 154   48 Period End Shares (17) 15,723   15,571  (in thousands)June 30, 2026 June 30, 2025 June 30, 2024Reconciliation of Invested Capital to Shareholders Equity:     Book value (total shareholders' equity)$754,417  $583,234  $633,342 Plus: total funded debt 9,372   86,081   45,065 Less: cash and cash equivalents (137,872)  (22,956)  (1,869)Invested Capital$625,917  $646,359  $676,538 Average Invested Capital (18)$636,138  $661,449              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.

Posted by Defense World Staff on Jul 26th, 2026

Bank of New York Mellon Corp lessened its holdings in shares of MYR Group, Inc. (NASDAQ:MYRG – Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,723 shares of the utilities provider’s stock after selling 7,248 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.81% of MYR Group worth $35,776,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of MYR Group by 20.8% during the 1st quarter. Royal Bank of Canada now owns 12,791 shares of the utilities provider’s stock worth $1,447,000 after acquiring an additional 2,205 shares during the period. AQR Capital Management LLC increased its holdings in shares of MYR Group by 124.5% during the 1st quarter. AQR Capital Management LLC now owns 10,898 shares of the utilities provider’s stock worth $1,232,000 after acquiring an additional 6,044 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in MYR Group by 0.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 203,356 shares of the utilities provider’s stock valued at $22,998,000 after acquiring an additional 1,437 shares during the period. Cetera Investment Advisers bought a new stake in MYR Group in the 2nd quarter valued at $221,000. Finally, Invesco Ltd. lifted its holdings in MYR Group by 26.9% during the 2nd quarter. Invesco Ltd. now owns 153,512 shares of the utilities provider’s stock valued at $27,855,000 after purchasing an additional 32,544 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets MYRG has been the subject of a number of research analyst reports. Robert W. Baird set a $373.00 price objective on shares of MYR Group in a research report on Thursday, April 30th. Stifel Nicolaus set a $503.00 price target on shares of MYR Group in a report on Monday, May 4th. Weiss Ratings restated a “buy (b-)” rating on shares of MYR Group in a research report on Friday, July 17th. Oppenheimer restated a “market perform” rating on shares of MYR Group in a report on Thursday, June 11th. Finally, Zacks Research downgraded MYR Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, MYR Group currently has an average rating of “Moderate Buy” and an average target price of $389.83.

View Our Latest Stock Report on MYRG

MYR Group Trading Down 6.9% Shares of MYR Group stock opened at $379.17 on Friday. The firm has a 50-day moving average of $441.22 and a 200-day moving average of $345.43. The stock has a market cap of $5.90 billion, a PE ratio of 41.80 and a beta of 1.31. MYR Group, Inc. has a 52-week low of $171.51 and a 52-week high of $503.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.31.

MYR Group (NASDAQ:MYRG – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $2.99 EPS for the quarter, beating the consensus estimate of $2.09 by $0.90. MYR Group had a net margin of 3.71% and a return on equity of 22.14%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $932.45 million. During the same period in the prior year, the company posted $1.45 earnings per share. MYR Group’s revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts forecast that MYR Group, Inc. will post 11.43 EPS for the current year.

Insider Transactions at MYR Group In other MYR Group news, Director Donald C.I. Lucky sold 14,675 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $449.53, for a total transaction of $6,596,852.75. Following the transaction, the director owned 5,579 shares in the company, valued at $2,507,927.87. This represents a 72.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth Michael Hartwick sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $450.50, for a total transaction of $1,576,750.00. Following the transaction, the director directly owned 18,631 shares in the company, valued at $8,393,265.50. This represents a 15.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company’s stock.

About MYR Group (Free Report)

MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.

Further Reading Five stocks we like better than MYR Group Telecom Earnings Reveal a Sector That Finally Looks Healthier Defense Earnings Show Readiness Now and Modernization Ahead Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off MarketBeat Week in Review – 07/20- 07/24 Want to see what other hedge funds are holding MYRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MYR Group, Inc. (NASDAQ:MYRG – Free Report).

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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.

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.

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.

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

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.

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.

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.

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 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]

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.

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].

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

MYR Group Inc. (NASDAQ:MYRG) has agreed to acquire all outstanding capital stock of Valley Holdings Inc and its subsidiaries, including Valley Electric...