MYR Group Inc. Announces Third-Quarter and First Nine-Months 2026 Results - Board Approves New $100 Million Share Repurchase Program
Key Highlights
- ➤Q3 revenue $1.26 billion, a record, increased $308.6 million year over year
- ➤Q3 net income $60.0 million, or $3.82 per diluted share, reached records
- ➤Q3 EBITDA $110.0 million, up from $62.7 million in Q3 2025
- ➤Backlog $3.68 billion, up 38.2% year over year
- ➤Board approved a new $100.0 million share repurchase program effective November 4
Expert Statements
Rick Swartz, President and CEO of MYR Group
“Our strong third-quarter results demonstrate the momentum across our business and the strength of our execution. We delivered record quarterly revenues of $1.26 billion, net income of $60.0 million, and EBITDA of $110.0 million, supported by increased activity across both our T&D and C&I segments, including record quarterly C&I revenues. Through the first nine months of 2026, revenues reached $3.34 billion, reflecting healthy demand across our core markets and continued investment in critical electrical infrastructure. As we integrate Valley Electric and Comet Electric and expand our capabilities and geographic reach, we remain focused on disciplined execution, strengthening our customer relationships, and positioning MYR to capitalize on the significant infrastructure opportunities ahead.”
THORNTON, Colo., Oct. 28, 2026 (GLOBE NEWSWIRE) -- MYR Group Inc. (“MYR or the "Company”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its third-quarter and first nine-months 2026 financial results.
Highlights for Third Quarter 2026 * Record quarterly revenues of $1.26 billion * Record quarterly net income of $60.0 million, or $3.82 per diluted share * Record quarterly EBITDA of $110.0 million * Record backlog of $3.68 billion Management Comments Rick Swartz, MYR’s President and CEO, said, “Our strong third-quarter results demonstrate the momentum across our business and the strength of our execution. We delivered record quarterly revenues of $1.26 billion, net income of $60.0 million, and EBITDA of $110.0 million, supported by increased activity across both our T&D and C&I segments, including record quarterly C&I revenues. Through the first nine months of 2026, revenues reached $3.34 billion, reflecting healthy demand across our core markets and continued investment in critical electrical infrastructure. As we integrate Valley Electric and Comet Electric and expand our capabilities and geographic reach, we remain focused on disciplined execution, strengthening our customer relationships, and positioning MYR to capitalize on the significant infrastructure opportunities ahead.”
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