MYR Group Inc
NASDAQ:MYRG
MYR Group Inc
MYR Group Inc. has quietly carved a significant niche for itself within the specialized construction industry, focusing primarily on electrical infrastructure and services. Born in the realm of power and communication lines, MYR Group has built its legacy by keeping the lights on and ensuring seamless communication across North America. This company, originally established as a union of various regional firms, operates through a network of subsidiaries that provide diverse services—from high-voltage transmission line construction to commercial and industrial electrical contracting. By weaving together expertise in different but related domains, MYR Group is able to package a comprehensive suite of services that cater to utilities, governmental entities, and private sector clients, ensuring the steady flow of electricity and data that modern societies depend on.
Central to MYR Group’s business model is its adaptability and diversification. The company not only capitalizes on long-term contracts with large utility companies but also taps into emerging opportunities in renewable energy projects, communication infrastructure, and maintenance services. These projects, often complex and technically demanding, allow MYR Group to leverage its extensive experience, skilled workforce, and strategic partnerships. Revenue flows in through contracts on large-scale projects, ongoing maintenance agreements, and specialty services that require high-level expertise. As the energy landscape evolves with increased renewable integration, MYR Group remains poised to thrive by aligning its capabilities with the inevitable shifts towards modernization and sustainability in infrastructure development.
MYR Group Inc. has quietly carved a significant niche for itself within the specialized construction industry, focusing primarily on electrical infrastructure and services. Born in the realm of power and communication lines, MYR Group has built its legacy by keeping the lights on and ensuring seamless communication across North America. This company, originally established as a union of various regional firms, operates through a network of subsidiaries that provide diverse services—from high-voltage transmission line construction to commercial and industrial electrical contracting. By weaving together expertise in different but related domains, MYR Group is able to package a comprehensive suite of services that cater to utilities, governmental entities, and private sector clients, ensuring the steady flow of electricity and data that modern societies depend on.
Central to MYR Group’s business model is its adaptability and diversification. The company not only capitalizes on long-term contracts with large utility companies but also taps into emerging opportunities in renewable energy projects, communication infrastructure, and maintenance services. These projects, often complex and technically demanding, allow MYR Group to leverage its extensive experience, skilled workforce, and strategic partnerships. Revenue flows in through contracts on large-scale projects, ongoing maintenance agreements, and specialty services that require high-level expertise. As the energy landscape evolves with increased renewable integration, MYR Group remains poised to thrive by aligning its capabilities with the inevitable shifts towards modernization and sustainability in infrastructure development.
Record Quarter: MYR Group reported record Q3 2025 net income of $32 million and EBITDA of $63 million, driven by strong execution and favorable market dynamics.
Revenue Growth: Revenue reached $950 million, up 7% year-over-year, with both the T&D and C&I segments contributing to growth.
Margin Expansion: Gross margin rose to 11.8% from 8.7% last year, as project productivity and favorable closeouts offset some inefficiencies.
Guidance Raised: Management now expects overall company revenue growth of about 10% for 2026, and has increased the C&I margin outlook to 5%–7.5% for next year.
Strong Backlog: Total backlog stands at $2.66 billion, up 2.5% from last year, reflecting steady demand across core markets.
Healthy Cash Flow: Operating cash flow hit a record $96 million for the quarter, supporting investments and M&A flexibility.
Positive Market Outlook: Major industry forecasts and utility spending plans point to sustained demand for both T&D and C&I services in coming years.
