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Jun 30, 2025
MYR Group Q2 2025 Earnings Report
MYR Group announced its second quarter and first half 2025 financial results, highlighting record quarterly net income and EBITDA, and an increase in backlog.
Key Takeaways
MYR Group reported a strong second quarter in 2025, with revenues reaching $900.3 million and a record net income of $26.5 million. The company also achieved a record quarterly EBITDA of $55.6 million and increased its backlog to $2.64 billion. Gross profit and gross margin significantly improved compared to the same period last year, driven by higher margins and revenues.
Quarterly revenues increased to $900.3 million, up $71.4 million from Q2 2024.
Record quarterly net income of $26.5 million, or $1.70 per diluted share, compared to a net loss in Q2 2024.
Record quarterly EBITDA of $55.6 million, a substantial improvement from a negative EBITDA in Q2 2024.
Backlog grew to $2.64 billion as of June 30, 2025, an increase of 3.8% from June 30, 2024.
Revenue by Segment
Forward Guidance
The company's Board of Directors approved a new $75 million share repurchase program, replacing the prior exhausted program, indicating confidence in future performance and a commitment to returning value to shareholders.
Positive Outlook
- New $75 million share repurchase program approved, demonstrating confidence in the company's valuation.
- Repurchase program funded by cash on hand and credit facility, indicating strong liquidity.
- Strategic positioning for future growth by leveraging full capabilities of MYR Group companies.
- Secured multiple master services agreements and new projects across core markets, expanding business footprint.
- Focus on enhancing value delivered to customers through strong relationships.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- The share repurchase program has an expiration date of February 4, 2026, or when funds are exhausted.
- The company is not obligated to acquire any specific amount of common stock under the repurchase program.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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