MYR Group Inc. (NASDAQ:MYRG) Electrifies Q1 with Record Earnings and Strong Market Performance

Font: Financial Modeling Prep  • Apr 29, 2026

• Market Outperformance: MYR Group Inc. (NASDAQ:MYRG)'s stock gained 50.7% year-to-date, significantly outpacing the Zacks Utilities sector's 10.5% growth and reaching a new 52-week high of $331.28.
• Record Financials: The company reported an earnings per share (EPS) of $3.01, beating estimates, alongside record quarterly net income of $46.8 million, revenue of $1 billion, and EBITDA of $81.5 million.
• Solid Fundamentals & Growth: MYR Group boasts a record backlog of $2.84 billion and a low debt-to-equity ratio of 0.16, underscoring its robust financial health and future growth prospects in the electrical construction market.

MYR Group Inc. (NASDAQ:MYRG) is an electrical construction services provider. The company shows strong performance, with its stock gaining 50.7% since the start of the year. This significantly outpaces the 10.5% growth of the Zacks Utilities sector, as noted by Zacks Investment Research. The stock recently reached a new 52-week high of $331.28.

On April 29, 2026, MYR Group reports an earnings per share (EPS) of $3.01, beating the consensus estimate of $2.09. This performance contributes to a record quarterly net income of $46.8 million, as highlighted by GlobeNewswire. Net income is the company's total profit after all expenses have been deducted from revenues.

The company also posts revenue of $1 billion for the quarter, which is higher than the estimated $932.45 million. CEO Rick Swartz attributes this success to strengthening relationships with key customers. The company is also investing in expanding its geographic footprint and market reach to support long-term growth.

This strong quarter also includes a record quarterly EBITDA of $81.5 million. EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization and is a measure of overall financial performance. Furthermore, MYR Group secures a record backlog of $2.84 billion, representing future work that is already under contract.

MYR Group's financial health appears solid with a low debt-to-equity ratio of 0.16, showing it relies more on shareholder equity than debt for financing. Its valuation includes a price-to-earnings (P/E) ratio of 44.70. The P/E ratio helps investors gauge a company's value by comparing its stock price to its earnings.