MYR Group (NASDAQ: MYRG) posts record 2025 revenue, strong profit and backlog
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
MYR Group Inc. furnished an investor presentation outlining very strong results for 2025 and its Q4 2025 performance. Full-year revenue reached
Full-year net income was
The company highlights a strong balance sheet, including
Positive
- Record 2025 scale and profitability: Total revenue reached
$3.66B with net income of$118.4M , EPS of$7.53 , and EBITDA of$232.7M , alongside Q4 net income growth of129.1% year over year. - Strong balance sheet and capital returns: Debt to LTM EBITDA of 0.25x,
$150M in cash,$408M undrawn on a$490M facility, plus repurchase of 1.3 million shares for about$150M in 2024–2025.
Negative
- None.
Insights
Record 2025 revenue, sharply higher earnings, and low leverage strengthen MYR Group’s fundamental profile.
MYR Group reports record 2025 revenue of
Leverage appears conservative with debt to LTM EBITDA of 0.25x,
Management emphasizes structural demand drivers such as grid investment, data center build-outs, electrification and clean energy projects across both segments. Actual growth will depend on continued project awards and execution, but the disclosed backlog and recent multi-year CAGR figures indicate solid momentum entering the quarter ending
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): March 3, 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 March 3, 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 March 31, 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 2025 Fourth Quarter dated March 2026. | ||||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) | ||||
-2-
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: March 3, 2026 | By: | /s/ KELLY M. HUNTINGTON | |||||||||
| Name: | Kelly M. Huntington | ||||||||||
| Title: | Senior Vice President and Chief Financial Officer | ||||||||||
-3-
1 INVESTOR PRESENTATION Q4 | MARC H 2026 | NASDAQ: MYRG Q 4 2 0 2 5
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 65+ OFFICE LOCATIONS 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. MYR GROUP INC. - A MARKET LEADER IN ELECTRICAL CONSTRUCTION. CONTINUED GROWTH Strong presence in key markets with healthy organic and acquisitive growth opportunities SUPERIOR SAFETY CULTURE Performance that exceeds industry standards; 2025 stats: TCIR – 0.92 LTIR - 0.14 STRONG FINANCIALS Strong balance sheet to support future growth and projects of any magnitude with proven execution of corporate strategy EXTENSIVE RESOURCES & EXPERTISE Dedicated workforce of 9,000+ employees, centralized operations for greater efficiency and cross-collaboration and one of the largest centralized, specialized fleets in the industry LONG-STANDING CUSTOMERS Established client relationships and alliance partnerships across the U.S. and Canada (some held for 50+ years), and more than 90% return clients in both segments ESSENTIAL CLEAN ENERGY CONTRACTOR Superior electrical services that support the clean energy transformation and growing electricity demand EXPERIENCED LEADERSHIP Executive team that averages more than 30 years of industry experience Reportable Segments: T&D and C&I HEALTHCARE TRANSPORTATION WATER/WASTEWATER DATA CENTERS CLEAN ENERGY WAREHOUSING COMMERCIAL & INDUSTRIAL (C&I) TRANSMISSION DISTRIBUTION SUBSTATION STREET LIGHTING STORM RESTORATION ENERGY STORAGE TRANSMISSION & DISTRIBUTION (T&D) INVESTMENT HIGHLIGHTS
4 $3.66B 2025 $2.25B 2020 $2.50B 2021 $3.01B 2022 $3.36B 2024 RANKED AMONG TOP 5 U.S. SPECIALTY ELECTRICAL CONTRACTORS 30 YEARS IN A ROW $3.64B 2023 CAGR 10.2%
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 will 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 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 $408M in availability under our $490M credit facility, and debt to LTM EBITDA leverage of 0.25x and $150M 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 ELECTRICAL CONSTRUCTION PROJECT DELIVERY DEPTH & BREADTH OF EXPERTISE. A person in a safety vest and helmet looking at a construction vehicle Description automatically generated MAINE POWER RELIABILITY PROG. Maine; $200M+; 4-year project 210 miles of 345kV & 115kV transm. line CENTRAL 70 TRANSPORTATION Colorado; $100M+; 4 ½ year project Electrical construction services CENTRAL EAST ENERGY CONNECT New York; $300M+; 3 ½ year project Nearly 100 miles of 345kV transmission INTUIT DOME California; $130M+ project 18,000-seat L.A. Clippers arena DEN CONCOURSE EXPANSIONS Colorado; $190M+ project 55-gate concourse expansion program Industry leader and trusted partner Strong, long-standing customer alliances 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, airports, and water treatment facilities
7 • Full-year 2025 revenue of $2.00B • Backlog of $1.02B as of December 31, 2025* • Strong, long-standing relationships with a diverse customer base where approximately 60% of business is performed under Master Service Agreements • Acquired the Powerline Plus Companies in January 2022 BUSINESS SEGMENT UPDATE TRANSMISSION & DISTRIBUTION (T&D). REPRESENTATIVE CUSTOMERS *T&D backlog only includes 90 days of MSA work; typically, these agreements are multi-year in duration $1,154 $1,302 $1,746 $2,089 $1,881 $2,002 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 $2,200 2020 2021 2022 2023 2024 2025 M il li on s T&D Revenue T&D Revenue 11.6% CAGR
8Source: Power Insights, North American Electric Distribution Market Forecast and North American Electric Distribution Market Forecast, September and October 2025 STRONG LONG-TERM DRIVERS T&D MARKET OUTLOOK. 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) • An analysis by ICF International anticipates U.S. electricity demand will grow 25 percent by 2030 and 78 percent by 2050 from 2023 levels. (ICF.com, June 2025) • S&P Global forecasts aggregated energy utility investments will continue reaching new heights. They anticipate $227B will be spent in 2026, $233B in 2027, $214B in 2028, and $164B in 2029. Electric utilities will invest in infrastructure modernization, transmission expansion for new generation and customer growth, distribution investments to support reliability, and new energy technology. (SPGlobal.com, September 2025) • 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
9 • Full-year 2025 revenue of $1.66B • Backlog of $1.80B as of December 31, 2025 • 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 REPRESENTATIVE CUSTOMERS BUSINESS SEGMENT UPDATE COMMERCIAL & INDUSTRIAL (C&I). $1,093 $1,197 $1,263 $1,555 $1,482 $1,655 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 2020 2021 2022 2023 2024 2025 M il li o n s C&I Revenue C&I Revenue 8.7% CAGR
10 Data Centers Airport Projects Transportation Healthcare Clean Energy, Storage & EV Charging E-Commerce Water/Wastewater Facilities Industrial Facilities MYR GROUP CORE C&I MARKETS STRONG, DIVERSE CORE MARKETS C&I MARKET OUTLOOK. • FMI’s latest survey of nonresidential construction sentiment climbed to 54.5 in the first quarter of 2026 compared to 47.9 in the fourth quarter of 2025, as sentiment improved across all components. The backlog component made the strongest jump to 70.4 from 54.6. (FMIcorp.com, January 2026) • The Dodge Momentum Index (DMI) declined 6.3% to 272.7 (2000=100) in January from a downward revised reading of 291. However, the DMI was up 29% year over year compared to January 2025. “Planning momentum cooled in January across most commercial and institutional sectors,” Dodge’s spokesperson said. (construction.com, February 2026) • The Associated Builders and Contractors Association’s Construction Backlog Indicator fell to 8.0 months in January, but contractor confidence grew. The ABC’s Construction Confidence Index improved for all three categories profit margins, sales, and staffing levels (sales 64.7, profit margins 53.4, and staffing 61.2). All three components remained above 50, the threshold for expected growth over the next six months (ABC.org, February 2026) Source: The Dodge Momentum Index, February 6, 2026 MYR Group’s C&I segment sees steady bidding opportunities in its core markets and continues to be well diversified.
11 MARKET OPPORTUNITIES FOR BOTH T&D AND C&I DATA CENTER MARKET EXPANSION. 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 anticipates that nonresidential construction will grow by 4 percent this year and 3 percent in 2026, driven mostly by “continued strength in data center construction and groundbreakings on high-value megaprojects.” (DCN’s Outlook 2026 Ebook, September 2025) • McKinsey indicates that data centers in the U.S. are expected to add about 460 terawatt-hours of power demand from 2023- 2030. (McKinsey.com, August 2025) • 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. (C Three, Sept. 2024)
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 BUILDING A SUSTAINABLE FUTURE WITH CORPORATE RESPONSIBILITY. VIEW REPORT Policy & Guidance - Established corporate policies - Promote honest and ethical conduct - Develop employee awareness and compliance 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 Reducing Our Impact On Projects - Recycling scrap material - Environmental compliance Clean Energy Transformation Partner - Clean energy interconnect work - Solar & energy storage projects - Electric vehicle charging installations Giving Back to our Communities - In the last three years: - Raised and donated more than $3.5M - Supported more than 130 non-profit organizations Operating Sustainably - GHG emissions tracking and goals - Waste recycling and reduction - Water and energy stewardship Investing in our People - 50,900+ workhours of training - 1,143 employee development courses completed - Robust benefits and wellness program Board Composition - Independent Chair of the Board - Committees comprised solely of independent directors - Majority voting standard for directors in uncontested elections Corporate Governance - Conduct annual evaluations - Effective executive compensation best practices Keeping Safety at Our Core - Behavioral commitment to safety - Strong culture built on leadership, employee dedication, top-notch training programs, industry involvement, and a focus on constant innovation and improvement Online at myrgroup.com/sustainability
14 MYRG - CAGR 37.43% EME - CAGR 39.06% PWR - CAGR 47.76% MTZ - CAGR 22.70% DY - CAGR 38.97% -200.0% 0.0% 200.0% 400.0% 600.0% 800.0% 1000.0% 1200.0% Dividend-Adjusted Stock Return (01/02/2020 - 12/31/2025) MYRG Div.-Adj. Return EME Div.-Adj. Return PWR Div.-Adj. Return MTZ Div.-Adj. Return DY Div. Adj.-Return DELIVERING STRONG RETURNS DIVIDEND-ADJUSTED STOCK RETURN. Dividend Adjusted Stock Return Stock Price as of: MYRG EME PWR MTZ DY 1/2/2020 32.43$ 84.56$ 40.54$ 63.69$ 46.90$ 12/31/2025 218.50$ 611.43$ 421.95$ 217.37$ 337.90$ Div. Adj. Stock Return 573.8% 623.0% 940.9% 241.3% 620.5%
15 Q4 2025 RESULTS $36.5M Net Income (1) or $2.33 Per Diluted Share (1) $2.82B Backlog (1) $973.5M Revenue We closed out 2025 with strong fourth quarter financial results, delivering annual revenues of $3.66 billion. Fourth quarter net income was $36.5 million, representing a 129.1 percent increase over the fourth quarter of 2024, with revenues, consolidated gross profit, income from operations and EBITDA all increasing year over year. Backlog at the end of the fourth quarter totaled $2.82 billion, reflecting a steady bidding environment across both our T&D and C&I business segments. Overall, increased electrification demand and continued investment in electrical infrastructure remain encouraging and reinforce our confidence that our end markets are positioned for continued success in 2026 and beyond. Rick Swartz President and CEO DELIVERING STRONG RETURNS FINANCIAL SNAPSHOT. T&D $2.00B C&I $1.66B Business Segment Revenue Full-year 2025 Total Revenue $3.66B Net Income $118.4M Earnings per Diluted Share $7.53 EBITDA * $232.7M Free Cash Flow * $232.2M * See reconciliation of non-GAAP measures on slide 20 Full-year 2025 FINANCIAL OVERVIEW Total Revenue $3.66B (1) Record Highs
16 56.0% 14.9% 14.0% 12.8% 8.9% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% EME DY MYRG PWR MTZ 3-Year Average ROIC WELL-POSITIONED TO SUPPORT ADDITIONAL GROWTH BALANCE SHEET STRENGTH. MYR, PWR, MTZ, and EME 3-year period is December 2022 – December 2025 DY 3-year period is October 2022 – October 2025 • Low debt leverage • Strong balance sheet with $408M in availability under our $490M credit facility and $150M cash and equivalents • Substantial bonding capacity • Investment in specialty equipment supports future organic growth $44.4 $52.4 $77.1 $84.7 $75.9 $94.4 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% $0 $20 $40 $60 $80 $100 2020 2021 2022 2023 2024 2025 M ill io n s CAPEX Investment CAPEX Spend CAPEX % of Rev $(150) $(100) $(50) $- $50 $100 $150 $200 $250 $300 $350 $400 $450 $500 $550 $600 $650 $700 2020 2021 2022 2023 2024 2025 M il li o n s Liquidity Credit Facility Cash LOC Bank Debt Total Liquidity
17 $132.4 $164.2 $175.8 $188.2 $117.8 $232.7 $- $50 $100 $150 $200 $250 2020 2021 2022 2023 2024 2025 M ill io n s EBITDA * EBITDA 11.9% CAGR DEMONSTRATES STRONG, LONG-TERM EXECUTION FINANCIAL PERFORMANCE. * For reconciliation of EBITDA to net income, see page 20 QTR YEAR $2,247 $2,498 $3,009 $3,644 $3,362 $3,658 $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 2020 2021 2022 2023 2024 2025 M ill io n s Revenue by Work Type Trans. Dist. C&I 10.2% CAGR $1,649 $1,789 $2,502 $2,512 $2,576 $2,824 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 4 4 4 4 4 4 2020 2021 2022 2023 2024 2025 M il li o n s Backlog Backlog > 12 Mo 12 Mo. Backlog 11.3% CAGR $3.48 $4.95 $4.91 $5.40 $1.83 $7.53 $- $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 $5.00 $5.50 $6.00 $6.50 $7.00 $7.50 $8.00 2020 2021 2022 2023 2024 2025 Diluted EPS - Attributable to MYR Group Inc. Diluted EPS 16.7% 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 select individuals who bring extensive experience and unique perspectives to both our Company and our Board. 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 30 Years Industry Experience 38% Female 88% Majority Independent 25% Racially / Ethnically Diverse Directors BOARD OF DIRECTORS STATISTICS 5:3 Varied Tenure 5 of 8 have 0-8 years 3 of 8 have 9+ years EXECUTIVES & BOARD OF DIRECTORS EXPERIENCED LEADERSHIP TEAM.
19 CREATING SHAREHOLDER VALUE. 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 $117 under multiple repurchase programs
20 Note: EBITDA is not recognized under GAAP and does not purport to be an alternative to net income as a measure of operating performance or to net cash flows provided by operating activities as a measure of liquidity. EBITDA is a component of the debt to EBITDA covenant that we must report to our bank on a quarterly basis. In addition, management considers EBITDA a useful measure because it eliminates differences which are caused by different capital structures as well as different tax rates and depreciation schedules when comparing our measures to our peers’ measures. Free cash flow is not recognized under GAAP and does not purport to be an alternative to net income attributable to MYR Group Inc., cash flow from operations or the change in cash on the balance sheet. Management views free cash flow as a measure of operational performance, liquidity, and financial health. ROIC Definition Net Income (LTM) [A] + [(Net Interest Expense + Amortization of Intangibles) * (1-Effective Tax Rate)] [A] Net Income excludes noncontrolling interest and discontinued operations ÷ [Book Value (Total Stockholders’ Equity [B] + Net Debt] @ beginning and ending period average [B] Total Stockholders’ Equity excludes minority interests and discontinued operations = Return on Invested Capital Three-year averages are derived from calculating the return metric for each twelve-month period and then averaging the three-period metrics EBITDA FREE CASH FLOW DEMONSTRATES STRONG LONG-TERM EXECUTION RECONCILIATION OF NON-GAAP MEASURES. ($ In Mi l l ions , Except Per Share Amounts)* FY FY 2020 2021 2022 2023 2024 2025 2025 Net Income 58.8$ 85.0$ 83.4$ 91.0$ 30.3$ 118.4$ Net cash flow from operating activities 326.6$ Interest Expense, net 4.6 1.7 3.4 4.1 6.1 4.9 Less: cash used in purchasing property and equipment (94.4) Income Tax Expense 22.6 31.3 30.8 34.0 16.2 42.9 Free Cash Flow 232.2$ Depreciation and Amortization 46.4 46.2 58.2 59.1 65.2 66.5 EBITDA 132.4$ 164.2$ 175.8$ 188.2$ 117.8$ 232.7$ 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 JENNIFER HARPER MYR Group Inc., Vice President, Investor Relations and Treasurer Investorinfo@myrgroup.com NASDAQ: MYRG 12121 Grant Street, Suite 610 Thornton, CO 80241 Investorinfo@myrgroup.com HEADQUARTERS myrgroup.com
FAQ
What 2025 revenue did MYR Group Inc. (MYRG) report in its latest investor presentation?
MYR Group reported full-year 2025 revenue of $3.66 billion, a record high for the company. Segment revenue was $2.00 billion in Transmission & Distribution and $1.66 billion in Commercial & Industrial, showing broad-based strength across its core electrical construction markets.
How profitable was MYR Group Inc. (MYRG) in 2025 based on the furnished materials?
For 2025, MYR Group generated $118.4 million in net income and earnings of $7.53 per diluted share. EBITDA reached $232.7 million, and free cash flow was $232.2 million, indicating strong earnings quality and cash generation relative to its revenue base.
What backlog did MYR Group Inc. (MYRG) report at the end of Q4 2025?
MYR Group reported backlog of $2.82 billion at the end of the fourth quarter of 2025. Management noted this backlog reflects a steady bidding environment across both the Transmission & Distribution and Commercial & Industrial segments, supporting visibility into future project activity.
How did MYR Group Inc. (MYRG) perform in Q4 2025 compared to the prior year?
In Q4 2025, MYR Group posted revenue of $973 million and net income of $36.5 million. Net income increased 129.1% versus Q4 2024, with management citing higher revenues, improved consolidated gross profit, stronger income from operations, and higher EBITDA year over year.
What is MYR Group Inc.’s (MYRG) balance sheet and leverage position entering 2026?
The company reported a strong balance sheet with $408 million available under a $490 million credit facility, $150 million in cash and equivalents, and debt to last-twelve-month EBITDA of 0.25x. This low leverage supports organic growth, acquisitions, and ongoing capital deployment.
How much stock did MYR Group Inc. (MYRG) repurchase recently and at what average price?
From 2024–2025, MYR Group repurchased 1.3 million shares of its common stock for approximately $150 million. The average repurchase price was about $117 per share, executed under multiple share repurchase programs while the company maintained liquidity for growth initiatives.
What long-term demand drivers does MYR Group Inc. (MYRG) highlight for its markets?
MYR Group cites several growth drivers, including electrification, grid modernization, clean energy investments, data center expansion, reshoring of manufacturing, and increased utility capital spending. These factors support project opportunities in both Transmission & Distribution and Commercial & Industrial segments over the coming years.
Filing Exhibits & Attachments
4 documents
Myr Group Inc Del
NASDAQ:MYRG
MYRG Rankings
MYRG Latest News
Mar 2, 2026
MYR Group Inc. to Attend Cantor Global Technology & Industrial Growth Conference in March
Feb 24, 2026
MYR Group Inc. to Attend Jefferies Power, Energy, Clean Energy & Utilities Conference in March
MYRG Latest SEC Filings
Mar 4, 2026
[ARS] MYR GROUP INC. SEC Filing
Feb 25, 2026
[10-K] MYR GROUP INC. Files Annual Report
Feb 25, 2026
[8-K] MYR GROUP INC. Reports Material Event
Feb 20, 2026
[Form 4] MYR GROUP INC. Insider Trading Activity
MYRG Stock Data
4.25B
15.22M
Engineering & Construction
Water, Sewer, Pipeline, Comm & Power Line Construction
United States
THORNTON