MYRG earnings analysis
What we found in MYRG's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
MYR Group Inc. reported strong Q1 2026 results with revenues of $1.00 billion and EPS of $2.99, both surpassing analyst expectations. The company experienced significant growth in its Commercial & Industrial (C&I) segment, coupled with an increase in gross margin to 13.4%, indicating robust operational performance amid lingering economic uncertainty.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Increase of 20%
- Q1 2026 revenues rose to $1.00 billion from $833.6 million in Q1 2025, a $166.8 million increase.
- Record EPS Achievement
- EPS reached $2.99, up from $1.45 in Q1 2025, marking a significant increase.
- Strong C&I Segment Growth
- C&I revenue increased by $87.6 million, or 23.5%, to $459.4 million compared to Q1 2025.
- Improved Gross Margin
- Gross margin improved to 13.4% in Q1 2026, up from 11.6% in Q1 2025.
- Record Backlog Growth
- Total backlog increased to $2.84 billion from $2.64 billion the year prior, a $200 million rise.
- Increased Operating Income
- Operating income more than doubled to $64.7 million from $34.3 million in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Operating Costs
- Higher selling, general, and administrative expenses rose to $69.4 million from $62.5 million in Q1 2025.
- Project Inefficiencies Persist
- Risks associated with project inefficiencies negatively impacted margins despite overall revenue growth.
- Economic Uncertainties
- Ongoing inflation and geopolitical tensions could affect future profitability and demand.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.99
- Gross margin
- 13.4%
- Operating margin
- 6.5%
- Segment
- Transmission & Distribution: $540.97 million
- Segment
- Commercial & Industrial: $459.41 million
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads better than the one before it.
What came before.
- 10-K · February 25, 2026
- MYR Group’s 2025 10-K shows expanding backlog and higher-margin mix alongside steady revenue and cash-generation improvement. Total backlog rose to $2,824,268 (thousands) with $2,437,765 (thousands) expected to be…
- 10-Q · October 29, 2025
- MYR Group reported strong Q3 results with contract revenues of $950,400 (three months ended September 30, 2025), up from $888,043 in Q3 2024; gross profit expanded to $111,892 (11.8%) and diluted EPS rose to $2.05 from…
- 10-Q · April 30, 2025
- MYR Group reported quarterly contract revenues of $833,620,000 and diluted EPS of $1.45 for the three months ended March 31, 2025, both improved versus the prior-year quarter. Gross margin expanded to 11.6% and…
- 10-Q · July 31, 2024
- MYR Group reported Q2 contract revenues of $828,890,000 and a net loss of $15,277,000 (diluted EPS $(0.91)), driven by large project estimate adjustments that reduced gross margin and produced an operating loss of…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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