MYR Group Inc ( (MYRG) ) has released its Q3 earnings. Here is a breakdown of the information MYR Group Inc presented to its investors.
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MYR Group Inc. is a holding company of specialty electrical contractors providing services in the electric utility infrastructure, commercial, and industrial construction markets across the United States and Canada.
In its latest earnings report, MYR Group Inc. announced strong financial results for the third quarter and the first nine months of 2025, showcasing significant growth in revenue and net income. The company achieved record quarterly revenues and net income, highlighting its robust performance in the electric utility infrastructure sector.
For the third quarter of 2025, MYR Group reported revenues of $950.4 million, marking an increase of $62.4 million compared to the same period in 2024. The company’s net income soared to $32.1 million, or $2.05 per diluted share, a substantial rise from $10.6 million, or $0.65 per diluted share, in the third quarter of 2024. The company’s EBITDA also reached a record $62.7 million, reflecting strong operational efficiency. The backlog stood at $2.66 billion, indicating a healthy pipeline of future projects.
The first nine months of 2025 saw MYR Group’s revenues climb to $2.68 billion, an increase of $151.8 million from the previous year. The company’s net income for this period was $81.9 million, or $5.20 per diluted share, compared to $14.3 million, or $0.86 per diluted share, in 2024. The increase in gross profit and margin was attributed to improved productivity and favorable project outcomes.
Looking ahead, MYR Group Inc. is well-positioned to capitalize on the growing demand for electrification and resilient infrastructure. The company’s strategic focus on enhancing customer relationships and expanding its core markets is expected to drive continued growth and success in the future.