MYR Group Earnings Call Transcripts
Fiscal Year 2026
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Record Q2 2026 revenues and backlog were driven by strong T&D and C&I segment performance, improved margins, and the acquisition of Valley and Comet Electric. Full-year guidance remains unchanged, with robust market demand and a healthy project pipeline supporting future growth.
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Record Q1 2026 results featured 20% revenue growth, margin expansion, and record backlog, driven by strong demand in T&D and C&I segments. Updated annual margin targets and 12% revenue growth outlook reflect confidence in execution and market trends.
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The meeting confirmed a quorum, approved all board proposals including director elections, executive compensation, and auditor ratification, and followed virtual protocols for broader participation. Final voting results will be filed with the SEC.
Fiscal Year 2025
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Record 2025 revenues and net income were driven by strong growth in both T&D and C&I segments, with a robust backlog and improved margins. Market outlook remains positive, supported by major project awards, strong cash flow, and continued investment in infrastructure.
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Record Q3 2025 results featured 7% revenue growth, record net income, and strong margins. Backlog and bidding activity remain robust, with 10% revenue growth forecast for 2026 and higher C&I margin guidance. Capital allocation focuses on organic growth, capex, and M&A.
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Second quarter 2025 saw 8.6% revenue growth, margin expansion, and a return to profitability, with strong backlog and new contract wins in both T&D and C&I segments. Market outlook remains robust, supported by grid modernization and electrification trends.
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First quarter 2025 saw revenue rise 2.2% to $834M, net income up to $23M, and gross margin improve to 11.6%. Backlog grew 9% to $2.64B, with strong C&I growth and stable T&D margins expected. Capital allocation will focus on organic growth and acquisitions.
Fiscal Year 2024
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Q4 2024 revenue declined 17% year-over-year to $830 million, but gross margin improved to 10.4%. Backlog rose to $2.6 billion, and all challenging clean energy and C&I projects reached completion. 2025 is expected to bring stronger free cash flow and mid-range operating margins.
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Q3 2024 saw revenues decline 5.5% year-over-year, with core T&D and C&I businesses performing well despite ongoing headwinds from a few underperforming projects. Backlog remains strong, margins are expected to normalize in 2025, and capital deployment focuses on growth and select acquisitions.
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Q2 2024 saw revenue and margin declines due to underperforming clean energy and C&I projects, resulting in a net loss, but strong bidding activity, new project awards, and robust cash flow position the company for long-term growth as electrification and data center demand rise.