MYR Group Reports Record Q3 2026 Revenue and Net Income Driven by C&I Segment Growth
MYR Group (MYRG) delivered record-breaking financial results for the third quarter of 2026, reporting revenue of $1.26 billion, a 32.5% increase year-over-year. This growth was primarily fueled by the Commercial and Industrial (C&I) segment, which saw a 58% revenue surge following the acquisitions of Valley Electric and Comet Electric. Net income reached a record high of $60.0 million, representing an 86.9% increase compared to the same period in 2025. The company's backlog also hit a record $3.68 billion, providing strong visibility into future performance across both C&I and Transmission & Distribution (T&D) segments. Despite robust earnings, operating cash flow and free cash flow declined due to project cycle timing and increased capital expenditures. Looking ahead, the Board has authorized a new $100 million share repurchase program effective November 4, 2026.
Tickers: $MYRG
Topics: Backlog EBITDA EPS Net Income Revenue Growth