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Dec 31, 2025
MYR Group Q4 2025 Earnings Report
MYR Group Q4 2025 Earnings Report
Key Takeaways
MYR Group achieved record fourth-quarter results with net income rising 129.1% year-over-year to $36.5 million. Performance was driven by strong revenue growth in both T&D and C&I segments, improved gross margins of 11.4%, and a significant reduction in interest expenses and effective tax rates.
Quarterly revenues reached $973.5 million, a 17.3% increase compared to the fourth quarter of 2024.
Record quarterly net income of $36.5 million, or $2.33 per diluted share, up from $16.0 million in the prior year.
Backlog grew to a record $2.82 billion at year-end, reflecting a steady bidding environment across all business segments.
Gross margin improved to 11.4% from 10.4% in Q4 2024, aided by better productivity and favorable project closeouts.
Revenue by Segment
Forward Guidance
Management expressed confidence in continued success for 2026 and beyond, citing strong electrification demand and infrastructure investment.
Positive Outlook
- Increased electrification demand
- Continued investment in electrical infrastructure
- Steady bidding environment across T&D and C&I segments
- Confidence in end markets for 2026 and beyond
- Strong record backlog of $2.82 billion
Challenges Ahead
- Potential project inefficiencies
- Risks associated with labor costs
- Uncertainty of future events or outcomes
- Difficult to predict regulatory and economic contingencies
- Impact of project-specific gross profit estimate changes
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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