Revenue: As of FY2026 Q2, the actual value is USD 1.082 B, beating the estimate of USD 994.71 M.

EPS: As of FY2026 Q2, the actual value is USD 3.17, beating the estimate of USD 2.5533.

EBIT: As of FY2026 Q2, the actual value is USD 67.79 M.

Second Quarter 2026 Performance

Segment Revenue

MYR Group Inc. reported record quarterly revenues of $1.08 billion for the second quarter of 2026, an increase of $181.4 million compared to the second quarter of 2025. The Transmission and Distribution (T&D) segment’s revenues were $524.0 million, an increase of $17.7 million from the second quarter of 2025. The Commercial and Industrial (C&I) segment achieved record quarterly revenues of $557.7 million, an increase of $163.6 million from the second quarter of 2025.

Net Income

Net income for the second quarter of 2026 was a record $49.9 million, compared to $26.5 million for the same period in 2025.

Gross Profit and Margin

Consolidated gross profit increased to $142.7 million in the second quarter of 2026, up from $103.7 million in the second quarter of 2025. Gross margin rose to 13.2 percent for the second quarter of 2026, compared to 11.5 percent for the second quarter of 2025. This increase was primarily due to higher margins and revenues, significant changes in estimated gross profit on certain projects due to better-than-anticipated productivity, favorable job close outs, and increased scope on projects, partially offset by increased costs from project inefficiencies. Changes in estimates resulted in a net gross margin increase of 0.9 percent for Q2 2026, contrasting with a net gross margin decrease of -1.0 percent for Q2 2025.

Operating Profit and Margin

Income from operations was $67.945 million in Q2 2026, up from $39.787 million in Q2 2025. The consolidated operating margin was 6.3% in Q2 2026, compared to 4.4% in Q2 2025.

Operating Costs (SG&A)

Selling, general and administrative expenses (SG&A) increased to $74.4 million in the second quarter of 2026, from $63.3 million in the second quarter of 2025, mainly due to higher employee incentive compensation and employee-related expenses supporting future growth.

EBITDA

Record quarterly EBITDA for the second quarter of 2026 was $85.0 million, compared to $55.6 million in the second quarter of 2025.

Interest and Income Tax

Interest income increased to $0.9 million in Q2 2026, while interest expense decreased to $0.7 million from $1.9 million in Q2 2025. Income tax expense was $17.3 million with an effective tax rate of 25.7 percent for Q2 2026, compared to $10.9 million with an effective tax rate of 29.2 percent for Q2 2025.

First-Half 2026 Performance

Segment Revenue

For the first half of 2026, MYR Group Inc. reported revenues of $2.08 billion, an increase of $348.2 million compared to the first half of 2025. The T&D segment’s revenues were $1.06 billion, an increase of $97.0 million, and the C&I segment’s revenues were $1.02 billion, an increase of $251.2 million.

Net Income

Net income for the first half of 2026 was $96.7 million, compared to $49.8 million for the same period in 2025.

Gross Profit and Margin

Consolidated gross profit for the first half of 2026 increased to $277.1 million, from $200.6 million in the first half of 2025. Gross margin increased to 13.3 percent for the first half of 2026, up from 11.6 percent for the first half of 2025. Changes in estimates of gross profit on certain projects contributed a net gross margin increase of 0.7 percent for the first half of 2026, compared to a net gross margin decrease of -1.2 percent for the first half of 2025.

Operating Profit and Margin

Income from operations was $132.667 million in the first half of 2026, up from $74.077 million in the first half of 2025. The consolidated operating margin was 6.4% in the first half of 2026, compared to 4.3% in the first half of 2025.

Operating Costs (SG&A)

SG&A for the first half of 2026 increased to $143.8 million, from $125.8 million in the first half of 2025, driven by increased employee incentive compensation and related expenses.

Interest and Income Tax

Interest income for the first half of 2026 increased to $1.8 million, from $0.2 million in the first half of 2025. Interest expense decreased to $1.4 million from $3.3 million in the first half of 2025. Income tax expense was $34.5 million with an effective tax rate of 26.3 percent for the first half of 2026, compared to $20.4 million with an effective tax rate of 29.1 percent for the first half of 2025.

Cash Flow

Net cash flows provided by operating activities for the six months ended June 30, 2026, were $88.074 million, compared to $116.147 million for the same period in 2025. Free cash flow for the second quarter of 2026 was - $25.591 million, compared to $11.638 million in the second quarter of 2025.

Backlog

As of June 30, 2026, MYR Group Inc.’s backlog reached a record $3.16 billion, an increase of $518.4 million or 19.6 percent from $2.64 billion reported as of June 30, 2025. T&D backlog was $1.27 billion and C&I backlog was $1.89 billion.

Balance Sheet Highlights (as of June 30, 2026)

MYR Group Inc. had $137.9 million in cash and cash equivalents and $460.5 million of borrowing availability under its $490 million revolving credit facility. Total assets were $1,672.465 million, total liabilities were $918.048 million, and total shareholders’ equity was $754.417 million. Total funded debt was $9.372 million.

Management Outlook

Management noted that strong second-quarter performance was driven by record quarterly revenues and backlog, reflecting continued strength in core markets and sustained customer demand. The acquisitions of Valley Electric and Comet Electric are expected to enhance C&I capabilities and expand geographic footprint. MYR Group Inc. continues to see a healthy pipeline of bidding opportunities and remains focused on strategic growth to create long-term shareholder value.