MYR Group Q1 revenue beats analyst estimates

Myr

29/04/2026 21:19

Overview

US specialty electrical contractor's Q1 revenue rose, beating analyst expectations

Adjusted EPS for Q1 rose to $2.99

Gross margin improved to 13.4% on higher project margins and productivity gains

Outlook

Company expects favorable market outlook to support growth through the remainder of 2026

Result Drivers

SEGMENT REVENUE GROWTH - T&D revenue rose due to increases in unit price and T&E contracts, while C&I revenue grew mainly from more fixed price contracts

HIGHER PROJECT MARGINS - Gross margin improved due to a larger portion of projects progressing at higher contractual margins, better-than-anticipated productivity, favorable change orders and a favorable job closeout

RECORD BACKLOG - Backlog reached $2.84 bln, up 7.7% year-over-year, reflecting ongoing demand and expanded market reach

Company press release: ID:nGNX1Pt1xh

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1 bln
$930.73 mln (8 Analysts)
Q1 EPS
$2.99
Q1 Net Income
$46.8 mln
Q1 Gross Margin
13.4%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for MYR Group Inc is $311.00, about 6% below its April 28 closing price of $330.97

The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 25 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)