Latest analysis
Updated Jul 30, 2026
MYR Group posts record Q2 2026 revenue of $1.08B and backlog of $3.16B, then closes $328M Valley/Comet Electric acquisition on July 1.
MYR Group delivered record second quarter 2026 results across every key financial metric — revenue, net income, EBITDA, and C&I segment revenue — while growing total backlog 20% year-over-year to $3.16 billion. The $328 million acquisition of Valley Holdings (Valley Electric and Comet Electric), closed July 1, extends C&I geographic reach and prefabrication capabilities, with management guiding approximately $250 million of incremental revenue contribution in the second half of 2026. Margin expansion was material in both segments, driven by better-than-anticipated productivity, favorable job closeouts, and scope increases, with management reaffirming full-year operating margin guidance at the midpoint of stated ranges.
Tone: bullishRevenue
$3.7B
MYRG 10-K · FY 2025
Employees
9,000
Revenue FY2024
$3.4B
Founded
1995
Profile
MYRG 10-K Item 1 · Feb 25, 2026MYR Group Inc. is a holding company of specialty electrical construction service providers operating through two segments: Transmission and Distribution (T&D) and Commercial and Industrial (C&I). The company delivers design, engineering, procurement, construction, maintenance and repair services across electric utility infrastructure, commercial and industrial construction markets in the United States and Canada. It has operated in the T&D sector since 1891 and in C&I electrical contracting since 1912.
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We are a holding company of specialty electrical construction service providers that was established in 1995 through the merger of long-standing specialty contractors. Through our subsidiaries, we serve the electric utility infrastructure, commercial and industrial construction markets. Our operations are currently conducted through wholly-owned subsidiaries. We primarily provide electrical construction services through a network of local offices located throughout the United States and Canada. We provide a broad range of services, including design, engineering, procurement, construction, upgrade, maintenance and repair services, with a particular focus on construction, maintenance and repair. We manage and report our operations through two electrical contracting service segments: Transmission and Distribution ('T&D') and Commercial and Industrial ('C&I'). Our T&D segment provides a broad range of services on electric transmission and distribution networks and substation facilities which include design, engineering, procurement, construction, upgrade and maintenance and repair services, with a particular focus on construction, maintenance and repair, to customers in the electric utility industry throughout the United States and Ontario, Canada. Our T&D services include the construction and maintenance of high voltage transmission lines, substations and lower voltage underground and overhead distribution systems, clean energy projects and electric vehicle charging infrastructure. Our C&I segment provides services such as the design, installation, maintenance and repair of commercial and industrial wiring, the installation of intelligent transportation systems, roadway lighting, signalization and electric vehicle charging infrastructure in the United States and western Canada.
Primary products
- high voltage transmission line construction and maintenance
- substation construction and maintenance
- underground and overhead distribution systems
- clean energy projects
- electric vehicle charging infrastructure
- emergency restoration services
Business segments
End markets
Geographies
Named customers
For the years ended December 31, 2025, 2024 and 2023, our top 10 customers accounted for 38.0%, 37.8%, and 37.9%, of our revenues, respectively. For the years ended December 31, 2025, 2024 and 2023, no single customer accounted for more than 10.0% of annual revenues.
“We believe that we have a favorable competitive position in the T&D markets that we serve, due in part to our operating history, our financial strength, our reputation and our relationships with our customers.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue increased to $3.66 billion for fiscal year 2025 compared to $3.36 billion for fiscal year 2024, driven by growth in both the T&D and C&I segments.
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