Key Highlights:

  • Revenue came in at USD 1.08 billion, an increase of 20% year over year driven by higher volumes.
  • Organic Growth Guidance totaled Management projected overall organic revenue growth in the range of 13% to 15% for the full.
  • Net Income stood at USD 50 million, or USD 3.17 per diluted share, representing an 86% increase from USD 27.
  • Transmission and Distribution (T&D) Revenue was reported at USD 524 million, growing 4% year over year primarily due to increased.

MYR Group, Inc. (NASDAQ:MYRG) is scheduled to report third quarter results on Wednesday, Oct. 28, after the market close. Consensus estimates call for adjusted earnings per share of USD 2.97 on revenue of USD 1.16 billion, against a market capitalization of USD 4.06 billion.

In the most recently reported quarter, Revenue came in at USD 1.08 billion, an increase of 20% year over year driven by higher volumes in the Commercial and Industrial segment.

Commercial and Industrial (C&I) Revenue and Other Business Trends

Commercial and Industrial (C&I) Revenue came in at USD 558 million, a record high representing 42% growth year over year attributed to higher revenue from fixed price contracts. Gross Margin totaled 13.2%, compared to 11.5% in the second quarter of 2025, reflecting better-than-anticipated productivity and favorable project closeouts. T&D Operating Income Margin stood at 9.4%, an increase from 8% in the prior year driven by productivity gains and project scope increases. C&I Operating Income Margin was reported at 8.5%, up from 5.6% year over year as projects progressed at higher contractual margins and neared completion.

What Management Guided

Margin Guidance came in at Full year operating margins are expected to land in the midrange of 8% to 11% for T&D and 6% to 9% for C&I.

Total Backlog and Capital Position

Total Backlog came in at USD 3.16 billion, a 20% increase year over year and a record high for the company. Backlog Breakdown totaled T&D backlog stood at USD 1.27 billion while C&I backlog reached USD 1.89 billion as of June 30, 2026. EBITDA stood at USD 85 million, a record for the second quarter and an increase from USD 56 million in the same period last year. Acquisition Activity was reported at Management closed the acquisition of Valley Electric and Comet Electric on July 1, 2026, for initial cash consideration of USD 328 million. Acquisition Funding came in at The transaction was funded through USD 93 million of cash on hand and USD 235 million in borrowings under the revolving credit facility.

Projected Acquisition Revenue and Additional Detail

Projected Acquisition Revenue came in at Valley and Comet are expected to contribute approximately USD 250 million in revenue during the second half of 2026. Operating Cash Flow totaled USD 3 million, a decrease from USD 33 million in the prior year period due to the timing of tax payments and project-related billings. Free Cash Flow stood at Negative USD 26 million, compared to positive USD 12 million last year, reflecting lower operating cash and higher capital expenditures. SG&A Expenses was reported at USD 74 million, an increase of USD 11 million year over year due to higher employee incentive compensation and headcount to support growth. T&D Master Service Agreements (MSA) came in at MSA work represented approximately 65% of T&D segment revenues during the quarter.

Figures to Follow in the Release

Investors can watch third quarter results against the figures management has already put on record, including the following: Organic Growth Guidance came in at Management projected overall organic revenue growth in the range of 13% to 15% for the full year.