Record revenue, EPS and backlog at MYR Group (NASDAQ: MYRG)
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
MYR Group Inc. furnished an investor presentation outlining strong Q1 2026 performance and long‑term trends. For the twelve months ended March 31, 2026, total revenue reached $3.82B, with transmission and distribution revenue of $2.08B and commercial and industrial revenue of $1.74B.
The company reported record LTM net income of $141M, diluted earnings per share of $9.07, EBITDA of $264M, and free cash flow of $230M. Q1 2026 revenue was $1.00B and backlog totaled $2.84B, supported by LTM revenue CAGR of 10.5% and long‑term growth across both segments.
Management highlights a strong balance sheet, including $460M of availability under a $490M credit facility, $163M of cash and equivalents, low debt leverage of 0.04x debt to LTM EBITDA, and ongoing share repurchases. The presentation also describes favorable market drivers such as data center demand, grid investment, reshoring of manufacturing, and MYR Group’s focus on organic growth, acquisitions, safety, sustainability, and experienced leadership.
Positive
- None.
Negative
- None.
Insights
MYR shows record earnings, strong backlog, and low leverage.
MYR Group Inc. reports record LTM revenue of $3.82B, net income of $141M, EBITDA of $264M, and backlog of $2.84B. Growth is broad-based across transmission and distribution and commercial and industrial segments, supported by a 10.5% revenue CAGR.
The balance sheet appears conservative, with debt to LTM EBITDA leverage of 0.04x, $163M in cash and equivalents, and $460M available under a $490M credit facility. This suggests capacity to fund working capital, organic growth, and acquisitions while absorbing sector cyclicality.
Management cites robust external drivers including rising grid investment, data center expansion, and manufacturing reshoring. They also emphasize disciplined capital allocation, including share repurchases of 1.3 million shares for about $150M in 2024-2025. Subsequent filings may provide more detail on how this pipeline converts into future revenue and earnings.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
LTM Revenue: $3.82B
Q1 2026 Revenue: $1.00B
Backlog: $2.84B
+5 more
8 metrics
LTM Revenue
$3.82B
Total revenue for the twelve months ended March 31, 2026
Q1 2026 Revenue
$1.00B
Quarter ended March 31, 2026
Backlog
$2.84B
Backlog as of Q1 2026
LTM Net Income
$141M
Net income for the twelve months ended March 31, 2026
LTM Diluted EPS
$9.07
Diluted EPS for the twelve months ended March 31, 2026
LTM EBITDA
$264M
EBITDA for the twelve months ended March 31, 2026
Free Cash Flow
$230.6M
LTM free cash flow as reconciled in presentation
Credit Facility Availability
$460M
Availability under $490M credit facility
Key Terms
Regulation FD Disclosure, Master Service Agreements, backlog, EBITDA, +2 more
6 terms
Regulation FD Disclosure regulatory
"Item 7.01 Regulation FD Disclosure. On May 14, 2026, MYR Group Inc. posted presentation materials..."
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
Master Service Agreements financial
"We execute routine maintenance work under long-term Master Service Agreements (MSAs)."
A master service agreement is a standing contract that sets the general terms, pricing rules and responsibilities for ongoing work between a business and a client or vendor, with individual projects added later under that framework. Think of it as a reusable blueprint that speeds up future deals and limits surprises about who pays for what and who is liable. Investors care because an MSA can make revenue more predictable, reduce legal risk, and signal easier scaling or renewal of business relationships.
backlog financial
"Backlog of $981M as of March 31, 2026*"
A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.
EBITDA financial
"EBITDA * (1) $264 Free Cash Flow * $230"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
free cash flow financial
"Free cash flow is a non-GAAP measure that is defined as cash flow provided by operating activities minus cash flow used in purchasing property and equipment"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Return on Invested Capital financial
"= Return on Invested Capital Three-year averages are derived from calculating the return metric..."
A percentage that shows how effectively a company turns the money invested in its business—both borrowed funds and shareholders’ equity—into operating profit after taxes. It tells investors whether a company earns more from its core operations than it costs to fund those operations; think of it like the annual return you’d expect from renovating a rental property—higher percentages mean the company uses capital more efficiently and is more likely to create value for shareholders.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 14, 2026
(Exact name of registrant as specified in its charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||||||||
Registrant’s telephone number, including area code: (303 ) 286-8000
None
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| (Nasdaq Global Market) | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Item 7.01 Regulation FD Disclosure.
On May 14, 2026, MYR Group Inc. (“MYR”) posted presentation materials on the investor relations section of MYR’s website at https://investor.myrgroup.com/news-events/presentations. Members of MYR’s management may use all or portions of these materials from time to time during the quarter ending June 30, 2026 in meetings with or when making presentations to the investment community, current or potential stakeholders and others. The presentation materials are furnished herewith as Exhibit 99.1.
The information contained in the presentation materials is summary information that should be considered in the context of MYR’s filings with the Securities and Exchange Commission and other public announcements that MYR may make by press release or otherwise from time to time.
This information is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) The following exhibit is being furnished with this Current Report on Form 8-K.
99.1 | MYR Group Inc. Investor Presentation 2026 First Quarter dated May 2026. | ||||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) | ||||
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MYR GROUP INC. | |||||||||||
Dated: May 14, 2026 | By: | /s/ KELLY M. HUNTINGTON | |||||||||
| Name: | Kelly M. Huntington | ||||||||||
| Title: | Senior Vice President and Chief Financial Officer | ||||||||||
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1 Q1 | MAY 2026 | NASDAQ: MYRG INVESTOR PRESENTATION Q1 2026
2 Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenue, income, capital spending, segment improvements and investments. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “likely,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “unlikely” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this announcement speak only as of the date of this announcement. We disclaim any obligation to update these statements (unless required by securities laws), and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Forward-looking statements in this announcement should be evaluated together with the many uncertainties that affect MYR Group’s business, particularly those mentioned in the risk factors and cautionary statements in Item 1A of MYR Group’s most recent Annual Report on Form 10-K, and in any risk factors or cautionary statements contained in MYR Group’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Safe Harbor Notice Forward-Looking Statements
3 MYR Group Inc. A Market Leader In Electrical Construction MYR Group Inc. is a holding company of subsidiaries that has delivered some of the largest and most notable electrical infrastructure and commercial and industrial projects throughout the United States and Canada since 1891. STRONG FINANCIALS Strong balance sheet supporting projects of any scale with proven execution EXTENSIVE RESOURCES & EXPERTISE 9,000+ employees and one of the industry’s largest specialized fleets COMMERCIAN & INDUSTRIAL (C&I) EXPERIENCED LEADERSHIP Executive team averaging 30+ years of industry experience 65+ OFFICE LOCATIONS CONTINUED GROWTH Strong market presence with sustained organic and acquisitive growth STRONG SAFETY CULTURE Industry-leading safety performance (2025: TCIR - 0.92, LTIR - 0.14) LONG-STANDING CUSTOMERS 50+ year partnerships across the U.S. and Canada with 90%+ repeat clients TRANSMISSION & DISTRIBUTION (T&D) Transmission Distribution Substation Street Lighting Storm Restoration Energy Storage Healthcare Transportation Manufacturing Data Centers Clean Energy Warehousing
4 $3.82B LTM 3/31/2026 $2.50B 2021 $3.01B 2022 $3.66B 2025 $3.64B 2023 REVENUE CAGR 10.5% RANKED AMONG TOP 5 U.S. SPECIALTY ELECTRICAL CONTRACTORS 30 YEARS IN A ROW1 $3.36B 2024 1. Engineering News-Record
5 ▪ T&D primarily consists of small to medium-sized projects, with some larger High Voltage Direct Current (HVDC) transmission projects. We execute routine maintenance work under long-term Master Service Agreements (MSAs). Strong, long- term drivers are expected to continue to increase T&D spending. ▪ The core markets we serve in C&I remain active, with multiple growth drivers and notable strength in data center and transportation opportunities. ▪ Reshoring of manufacturing continues to create opportunities in our markets, and we believe both MYR Group business segments are well positioned to benefit from this. ▪ AI is driving growth in data centers and power demand. Data centers have been an important and growing end market for our C&I segment for a long time, while new interconnections, substations and infrastructure upgrades to data centers present additional opportunities for our T&D segment. ▪ Strong balance sheet with $460M in availability under our $490M credit facility, and debt to LTM EBITDA leverage of 0.04x and $163M cash and equivalents, which management believes will enable us to meet our working capital needs, support organic growth, pursue acquisitions, and opportunistically repurchase shares. What We See Outlook
6 A person in a safety vest and helmet looking at a construction vehicle Description automatically generated MAINE POWER RELIABILITY PROGRAM Maine; $200M+; 4-year project; 210 miles of 345kV & 115kV transmission line CENTRAL 70 TRANSPORTATION Colorado; $100M+; 4.5-year project; electrical construction services CENTRAL EAST ENERGY CONNECT New York; $300M+; 3.5-year project; nearly 100 miles of 345kV transmission DEN CONCOURSE EXPANSIONS Colorado; $190M+, 3-year project; 55-gate concourse expansion program ▪ Industry leader and trusted partner ▪ Strong, long-standing customer relationships ▪ Experience with small to large, fast-track projects ▪ Deliver highest quality services with skilled experts ▪ Strong execution of large projects on stand-alone basis and with JV partners ▪ Experience with voltages up to 765kV ▪ Maintain one of the largest specialized fleets ▪ Expertise delivering some of the largest, most complex, electrical construction projects ▪ Decades of experience in our core C&I markets including data centers, transportation, healthcare, manufacturing, warehousing, and clean energy Electrical Construction Project Delivery Depth & Breadth of Expertise INTUIT DOME California; $130M+ project; 18,000-seat L.A. Clippers arena
7 ▪ LTM revenue of $2.08B as of March 31, 2026 ▪ Backlog of $981M as of March 31, 2026* ▪ Strong, long-standing relationships with a diverse customer base where approximately 70% of business is performed under Master Service Agreements ▪ Acquired the Powerline Plus Companies in January 2022 REPRESENTATIVE CUSTOMERS *T&D backlog only includes 90 days of MSA work; typically, these agreements are multi-year in duration $1,302 $1,746 $2,089 $1,881 $2,002 $2,082 $0 $500 $1,000 $1,500 $2,000 $2,500 2021 2022 2023 2024 2025 03/31/26 LTM M ill io ns T&D Revenue T&D Revenue 11.7% CAGR Business Segment Update Transmission & Distribution (T&D)
8Source: Power Insights, North American Electric Distribution Market Forecast and North American Electric Distribution Market Forecast, September and October 2025 Source: Edison Electric Institute, updated January 2026 Actual and Projected Transmission Investment by Investor-Owned Electric Companies ▪ U.S. electricity usage is expected to grow by 1 percent in 2026 and 3 percent in 2027, following two years of consumption growth. This would be the strongest four-year growth period since 2000. The driving factor is increased demand from “large computing centers.” (EIA.gov, January 2026) ▪ J.P. Morgan anticipates the more than $1 trillion grid investment planned for the coming decade will be split between 37 percent transmission and 63 percent distribution. (jpmorgan.com; March 2026) ▪ S&P Global forecasts aggregated energy utility investments will continue reaching new heights. They anticipate $259B will be spent in 2026, $276B in 2027, and $277B in 2028, an approximate 29% increase from roughly $200B spent in 2025. Electric utilities will invest in infrastructure modernization, reliability and new generation capacity to meet heightened energy demand from new large-load customers, particularly data centers. (SPGlobal.com, April 2026) ▪ Investor-owned utilities spent $32.6 billion on transmission investment in 2024, compared to $30.0 billion in 2023, and were projected to spend $39.9 billion in 2025 and $178 billion between 2025-2028. They spent $60.2 billion on distribution investment in 2024, compared to $56.7 billion in 2023. (eei.org; January 2026) System Reliability & Resiliency Programs Aging Electric Grid Connecting New Generation Sources Plant Retirements System Hardening Electrification Data Centers & Reshoring Distributed Energy Resources INVESTMENT DRIVERS Strong, Long-Term Drivers T&D Market Outlook
9 REPRESENTATIVE CUSTOMERS $1,197 $1,263 $1,555 $1,482 $1,655 $1,743 $0 $500 $1,000 $1,500 $2,000 2021 2022 2023 2024 2025 03/31/26 LTM M il li on s C&I Revenue C&I Revenue 9.3% CAGR Business Segment Update Commercial & Industrial (C&I) ▪ LTM revenue of $1.74B as of March 31, 2026 ▪ Backlog of $1.86B as of March 31, 2026 ▪ Growth in our core markets is driven by increasing investments in data centers, transportation, clean energy, and healthcare, as well as reshoring of manufacturing, and we remain well diversified across our core markets ▪ Strong, long-standing customer relationships
10 Data Centers Transportation Healthcare Clean Energy, Storage & EV Charging E-Commerce Manufacturing Industrial Facilities MYR GROUP CORE C&I MARKETS ▪ FMI’s latest nonresidential construction index (NRCI) eased slightly to 53.4 in the second quarter of 2026, compared to 54.5 in the first quarter. Scores above 50 indicate expansion. Backlog expectations pulled back somewhat but were “well into expansion territory and signaling solid workload visibility.” (FMIcorp.com, March 2026) ▪ The Dodge Momentum index rose by almost 2 percent in March to 250.5 (2000=100) and remained 25.8 percent higher year over year. The month’s momentum was driven “almost entirely by data center projects,” while other sectors are easing back. (construction.com, April 2026) ▪ The Associated Builders and Contractors Association’s Construction Backlog Indicator rose to 8.6 months in March. The readings for sales, profit margins and staffing are all higher than they were one year ago and remain above the threshold of 50, indicating expectations for growth over the next six months. (ABC.org, April 2026) Source: The Dodge Momentum Index, April 7, 2026 MYR Group’s C&I segment sees steady bidding opportunities in its core markets and continues to be well diversified. Strong, Long-Term Drivers C&I Market Outlook
11 AI Driven Demand Increased Cloud Services Greater Data Storage Needs Deceleration of Power Efficiency Gains Crypto Mining Operations DATA CENTER DRIVERS DATA CENTERS DRIVING INCREMENTAL INFRASTRUCTURE INVESTMENT ▪ Data centers, a subsegment of the office sector, has the highest anticipated growth according to FMI’s first quarter engineering and construction outlook. They estimated that data center market spending was 35% higher in 2025 than 2024 and will continue growing over the next four years by 23%, 21%, 13% and 11%, respectively. (FMI 2026 North American Engineering and Construction Outlook, January 2026) ▪ Dodge Construction Network found that nonresidential building starts improved 17.8 percent in February, with commercial starts up 48.5 percent “solely driven” by the 159.6 percent growth in offices and data centers. On a year-over-year basis, commercial and industrial construction was up 22.9 percent. (construction.com, March 2026) ▪ U.S. data centers currently consume 4.5 percent of the nation’s power, but the Electric Power Research Institute (EPRI) anticipates that share could double by 2030. EPRI forecasts data centers could consume 9 to 17 percent of the nation’s electricity by then – 60 percent more demand than their forecast two years earlier. (E&E News, February 2026) ▪ The North American Electric Reliability Corp. (NERC) forecasted that summer peak demand will grow by 224 GW over the next 10 years, and winter peak demand by 246 GW, driven by new data centers. The new summer peak forecast was a 69% increase compared NERC’s 2024 forecast. (energy.gov, January 2026) MYR Group’s C&I segment has decades of experience providing services for new construction, expansion build-outs, upgrades and maintenance of data center facilities. The T&D segment builds and upgrades lines and substations to interconnect new data centers, working for our utility customers. C Three’s 2024 North American Electric Transmission Market Forecast reports that AI is “supercharging” data center growth and is a major driver of increasing load growth projections. They noted that data centers are chasing cheap power for their locations, while hyperscale data center owners are also chasing renewable power. The report noted there are more than 170 hyperscale and co-location data centers planned, representing more than 45GW of capacity. Market Opportunities for Both T&D and C&I Date Center Market Expansion
12 We don’t just create connections that empower people – we create connections that help our partners achieve their energy goals. Clean Energy Transformation Partner
13 VIEW REPORT ▪ Reducing Our Impact on Projects - Scrap material recycling - Environmental compliance ▪ Clean Energy Transformation Partner - Clean energy interconnect work - Solar & energy storage projects - Electric vehicle charging installations ▪ Equity & Inclusion - 25% racially/ethnically diverse Board of Directors - 38% of the Board of Directors is female - Established Veteran Employee Resource Group - Varied vendor utilization and partnerships ▪ Policy & Guidance - Established corporate policies - Promote honest and ethical conduct - Develop employee awareness and compliance ▪ Corporate Governance - Conduct annual evaluations - Effective executive compensation best practices ▪ Board Composition - Independent Chair of the Board - Committees comprised solely of independent directors - Majority voting standard for directors in uncontested elections ▪ Keeping Safety at Our Core - Behavioral commitment to safety - Strong culture built on leadership, employee dedication, top- notch training programs, industry involvement, and a focus on constant innovation and improvement ▪ Investing in Our People - 92,900+ workhours of training - 1,510 employee development courses completed - Robust benefits and wellness program ▪ Giving Back to Our Communities - Raised and donated more than $3.5M in last three years - Supported more than 130 non-profit organizations in last three years ▪ Operating Sustainably - GHG emissions tracking and goals - Waste recycling and reduction - Water and energy stewardship Online at myrgroup.com/sustainability Building a Sustainable Future with Corporate Responsibility
14 MYRG - CAGR 35.21% EME - CAGR 50.22% PWR - CAGR 49.14% MTZ - CAGR 34.81% PRIM - CAGR 37.83% -100.0% 0.0% 100.0% 200.0% 300.0% 400.0% 500.0% 600.0% 700.0% 800.0% 900.0% Dividend-Adjusted Stock Return (01/04/2021 - 03/31/2026) MYRG Div.-Adj. Return EME Div.-Adj. Return PWR Div.-Adj. Return MTZ Div.-Adj. Return PRIM Div. Adj.-Return Dividend Adjusted Stock Return Stock Price as of: MYRG EME PWR MTZ PRIM 1/4/2021 58.14$ 87.56$ 67.63$ 67.29$ 26.64$ 3/31/2026 282.32$ 737.94$ 548.91$ 321.74$ 143.04$ Div. Adj. Stock Return 385.6% 742.8% 711.6% 378.1% 437.0% Stock Price Performance Dividend-Adjusted Stock Return
15 T&D $2.08B C&I $1.74B Business Segment Revenue Q1 2026 RESULTS $46.8M Net Income (1) or $2.99 Per Diluted Share (1) $2.84B Backlog (1) $1.00B Revenue We started the year with strong momentum, delivering year-over-year increases in revenue and gross profit, along with record quarterly net income, EBITDA, and backlog. By deepening relationships with strategic customers and continuing to invest in expanding our geographic footprint and market reach, we are creating meaningful, long-term growth opportunities and strengthening our competitive position. We believe our solid financial performance, disciplined execution, and favorable market outlook position us well to sustain this momentum through the remainder of 2026. Rick Swartz President and CEO MARCH 31, 2026 LTM Total Revenue (1) $3.82B Net Income (1) $141.9M Earnings per Diluted Share (1) $9.07 EBITDA * (1) $264.1M Free Cash Flow * $230.6M * See reconciliation of non-GAAP measures on slide 20 (1) Record Highs March 31, 2026 LTM FINANCIAL OVERVIEW Total Revenue $3.82B (1) Record Highs Delivering Strong Returns Financial Snapshot
16 47.1% 15.5% 13.4% 12.8% 9.2% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% EME MYRG PRIM PWR MTZ 3-Year Average ROIC MYR, PWR, MTZ, PRIM, and EME 3-year period is March 2023 – March 2026 ▪ Low debt leverage ▪ Strong balance sheet with $460M in availability under our $490M credit facility and $163M in cash and equivalents ▪ Substantial bonding capacity ▪ Investment in specialty equipment supporting future organic growth $52.4 $77.1 $84.7 $75.9 $94.4 $97.4 2.0% 2.2% 2.4% 2.6% 2.8% 3.0% $0 $20 $40 $60 $80 $100 $120 2021 2022 2023 2024 2025 03/31/26 LTM M ill io n s CAPEX Investment CAPEX Spend CAPEX % of Rev $(200) $(100) $- $100 $200 $300 $400 $500 $600 $700 2021 2022 2023 2024 2025 03/31/26 M il li o n s Liquidity Credit Facility Cash LOC Bank Debt Total Liquidity Well-Positioned to Support Additional Growth Balance Sheet Strength
17 $164.2 $175.8 $188.2 $117.8 $232.7 $264.1 $- $100 $200 $300 2021 2022 2023 2024 2025 03/31/26 LTM M ill io n s EBITDA * EBITDA 11.8% CAGR * For reconciliation of EBITDA to net income, see page 20 QTR YEAR $1,789 $2,502 $2,512 $2,576 $2,824 $2,843 $- $1,000 $2,000 $3,000 4 4 4 4 4 1 2021 2022 2023 2024 2025 2026 M ill io ns Backlog Backlog > 12 Mo 12 Mo. Backlog 11.5% CAGR $4.95 $4.91 $5.40 $1.83 $7.53 $9.07 $- $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 2021 2022 2023 2024 2025 03/31/26 LTM Diluted EPS - Attributable to MYR Group Inc. Diluted EPS 15.3% CAGR Demonstrated Strong, Long-Term Execution Financial Performance $2,498 $3,009 $3,644 $3,362 $3,658 $3,825 $- $1,000 $2,000 $3,000 $4,000 $5,000 2021 2022 2023 2024 2025 03/31/26 LTM M ill io n s Revenue by Segment T&D C&I 10.5% CAGR
18 EXECUTIVE LEADERSHIP Rick Swartz, CEO MYRG: 43 years Industry: 43 years 21 Years EXECUTIVES AVERAGE: With MYR Group MYR Group Inc. has a strong team of experienced leaders that make up our executive team and Board of Directors. We believe diversity of our leadership is a critical component of creating long-term value for our shareholders. We seek individuals who bring extensive experience and unique perspectives to both our Company and our Board. 30 Years Industry Experience BOARD OF DIRECTORS STATISTICS 38% Female 88% Majority Independent 25% Racially / Ethnically Diverse Directors 5:3 Varied Tenure 5 of 8 have 0-9 years 3 of 8 have 10+ years Executives & Board of Directors Experienced Leadership Team Kelly Huntington, CFO MYRG: 3 years Industry: 23 years Brian Stern, COO - T&D MYRG: 20 years Industry: 25 years Don Egan, COO - C&I MYRG: 34 years Industry: 34 years William Fry, CLO MYRG: 7 years Industry: 28 years
19 Identify and evaluate strategic opportunities in the U.S. and Canada that achieve long-term growth objectives and leverage our core capabilities Focus on acquisitions that meet clear, long-term return thresholds and are compatible with MYR Group’s values and culture Focus on integration of processes, people, technology, and equipment Strategic expansion of geographic footprint into new markets in the U.S. and Canada Invest in additional fleet and labor resources to expand capacity Leverage extensive bid knowledge and long-term customer relationships ORGANIC GROWTH Expand in new and existing markets that align with core capabilities STRATEGIC ACQUISITIONS Evaluate opportunities to expand and hone business expertise PRUDENT CAPITAL RETURNS Opportunistically repurchase shares From 2024-2025, the Company repurchased 1.3 million shares for approximately $150 million at an average share price of $117 under multiple repurchase programs Creating Shareholder Value
20 Demonstrated Strong Long-Term Execution Reconciliation of Non-GAAP Measures Note: EBITDA is not recognized under GAAP and does not purport to be an alternative to net income as a measure of operating performance or to net cash flows provided by operating activities as a measure of liquidity. EBITDA is a component of the debt to EBITDA covenant that we must report to our bank on a quarterly basis. In addition, management considers EBITDA a useful measure because it eliminates differences which are caused by different capital structures as well as different tax rates and depreciation schedules when comparing our measures to our peers’ measures. Free cash flow is not recognized under GAAP and does not purport to be an alternative to net income attributable to MYR Group Inc., cash flow from operations or the change in cash on the balance sheet. Management views free cash flow as a measure of operational performance, liquidity, and financial health. ROIC Definition Net Income (LTM) [A] + [(Net Interest Expense + Amortization of Intangibles) * (1-Effective Tax Rate)] [A] Net Income excludes noncontrolling interest and discontinued operations ÷ [Book Value (Total Stockholders’ Equity [B] + Net Debt] @ beginning and ending period average [B] Total Stockholders’ Equity excludes minority interests and discontinued operations = Return on Invested Capital Three-year averages are derived from calculating the return metric for each twelve-month period and then averaging the three-period metrics EBITDA FREE CASH FLOW $ In Mi l l ions FY LTM LTM 2021 2022 2023 2024 2025 3/31/2026 3/31/2026 Net Income 85.0$ 83.4$ 91.0$ 30.3$ 118.4$ 141.9$ Net cash flow from operating activities 328.0$ Interest Expense, net 1.7 3.4 4.1 6.1 4.9 3.5 Less: cash used in purchasing property and equipment (97.4) Income Tax Expense 31.3 30.8 34.0 16.2 42.9 50.6 Free Cash Flow 230.6$ Depreciation and Amortization 46.2 58.2 59.1 65.2 66.5 68.1 EBITDA 164.2$ 175.8$ 188.2$ 117.8$ 232.7$ 264.1$ EBITDA is a non-GAAP financial measure that is defined as Earnings Before Interest, Taxes, Depreciation and Amortization. Free cash flow is a non-GAAP measure that is defined as cash flow provided by operating activities minus cash flow used in purchasing property and equipment
21 NASDAQ: MYRG myrgroup.com JENNIFER HARPER MYR Group Inc., Vice President, Investor Relations and Treasurer Investorinfo@myrgroup.com HEADQUARTERS 12121 Grant Street, Suite 610 Thornton, CO 80241 Investorinfo@myrgroup.com
FAQ
What key financial results did MYR Group (MYRG) highlight for the LTM ended March 31, 2026?
MYR Group reported record LTM revenue of $3.82B, net income of $141M, diluted EPS of $9.07, and EBITDA of $264M. These figures reflect sustained growth across both transmission and distribution and commercial and industrial segments over the twelve-month period.
How did MYR Group (MYRG) perform in Q1 2026 in terms of revenue and backlog?
For Q1 2026, MYR Group reported $1.00B in revenue and a total backlog of $2.84B. Management described this as record quarterly net income, EBITDA, and backlog, indicating strong demand visibility across its electrical construction markets.
What does MYR Group’s (MYRG) balance sheet look like in the May 2026 presentation?
MYR Group highlights a strong balance sheet with $460M of availability under a $490M credit facility, $163M in cash and equivalents, and debt to LTM EBITDA leverage of 0.04x. This financial position supports working capital needs, growth initiatives, and potential acquisitions.
What are the main growth drivers for MYR Group’s (MYRG) T&D and C&I segments?
The company cites grid modernization, rising transmission and distribution investment, and data center growth as major drivers. Additional contributors include transportation projects, clean energy, healthcare, and reshoring of manufacturing, which together support long-term demand in both business segments.
What non-GAAP metrics does MYR Group (MYRG) emphasize in its investor presentation?
The presentation highlights non-GAAP EBITDA and free cash flow. LTM EBITDA was $264M, while free cash flow reached $230.6M, defined as cash flow from operating activities minus cash used for purchasing property and equipment, illustrating cash generation after capital spending.