MYR Group Q2 revenue beats estimates on C&I segment growth

Myr

29/07/2026 22:01

Overview
US specialty electrical contractor's Q2 revenue rose, beating analyst expectations
Q2 net income and EPS reached record highs, driven by higher margins and demand
Backlog at quarter-end hit record $3.16 bln, signaling strong future demand

Outlook
Company says it continues to see a healthy pipeline of bidding opportunities
MYR Group cites strong market fundamentals and ongoing investment in electrical infrastructure

Result Drivers
C&I SEGMENT GROWTH - Revenue in the Commercial and Industrial segment rose sharply, mainly due to increased revenue on fixed price contracts
GROSS MARGIN IMPROVEMENT - Gross margin increased due to better-than-anticipated productivity, favorable job closeouts, and increased project scope, partially offset by higher costs from project inefficiencies
SUSTAINED CUSTOMER DEMAND - Management cited ongoing investment in electrical infrastructure and strong demand across core markets as key drivers

Company press release: ID:nGNX4Yvwjd

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.08 bln
$995.77 mln (9 Analysts)
Q2 EPS
 
$3.17
 
Q2 Net Income
 
$49.90 mln
 
Q2 Gross Margin
 
13.20%
 
Q2 EBITDA
 
$85 mln
 
Q2 Gross Profit
 
$142.70 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "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 $469.00, about 37.6% above its July 28 closing price of $340.72
The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 29 three months ago

Reuters Recommended Reads
July 28 - Orion Group Q2 adjusted EPS and EBITDA miss estimates; lowers FY outlook
July 28 - Electrical equipment maker Hubbell lifts profit forecast amid demand from data centers
July 29 - Tetra Tech beats Q3 revenue estimates on federal and international growth, raises FY adjusted EPS guidance

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.)