MYR Group posts record Q3 revenue of $1.26B, net income $60.0M ($3.82/sh), backlog up 38%

MYR GROUP INC.

Q3 revenue $1.26B, up $308.6M YoY; net income $60.0M ($3.82 diluted) vs $32.1M ($2.05); EBITDA $110.0M vs $62.7M.
C&I segment record revenue $704.5M (+$257.5M YoY), aided by Valley Electric and Comet Electric acquisitions; T&D revenue $554.5M (+$51.1M).
Gross margin 13.6% vs 11.8%; project estimate changes added 0.4 pts vs a 0.6-pt drag a year ago; SG&A rose to $81.5M from $65.9M.
Backlog record $3.68B, up 38.2% YoY (C&I $2.39B, T&D $1.29B); nine-month revenue $3.34B, net income $156.7M ($9.97/sh).
Board approved new $100M buyback effective Nov 4, 2026 through Nov 3, 2027, funded with cash and revolver; $650.5M available on $690M facility.

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