The strong beat and raised backlog signal sustained demand in electrical infrastructure. The $100M buyback (approx. 2.4% of market cap) adds capital return but is secondary to the fundamental strength. Monitor the Q4 earnings call for margin sustainability and integration progress of Valley Electric and Comet Electric.
Price Chart
Executive Summary
MYR Group reported Q3 2026 revenue of $1.26B (up 32.5% YoY) and diluted EPS of $3.82 (up 86.3% YoY), both well above consensus of $1.15B and $2.98. The board also approved a new $100M share repurchase program. Results were driven by strong execution across both segments, including record C&I revenue from the Valley Electric acquisition.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $1.26B, up 32.5% YoY from $950.4M
- Diluted EPS of $3.82, up 86.3% YoY from $2.05
- Net income of $60.0M, up 87.0% YoY from $32.1M
- EBITDA of $110.0M, up 75.4% YoY from $62.7M
- Record backlog of $3.68B, up 38.2% YoY from $2.66B
- C&I segment record quarterly revenue of $704.5M, up 57.6% YoY
- T&D segment revenue of $554.5M, up 10.2% YoY
- Gross margin improved to 13.6% from 11.8% YoY
- Board approved new $100M share repurchase program effective Nov 4, 2026
- EPS beat consensus of $2.98 by 28.2%
- Revenue beat consensus of $1.15B by 9.5%
Financial Impact
Revenue beat consensus by $109M (9.5%), EPS beat consensus by $0.84 (28.2%). Net income increased $27.9M YoY.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Transmission & Distribution | $554.5M | +10.2% |
| Commercial & Industrial | $704.5M | +57.6% |
Risk Factors
- Integration risks from Valley Electric and Comet Electric acquisitions
- Potential cost inflation or labor shortages impacting project margins
- Dependence on fixed-price contracts with inherent estimation risk
- Increased leverage from acquisition-related debt
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3390752 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 1d ago | Press Release | No price | awaiting T+60 | awaiting T+60 | No price |
Oct 28, 2026 1d ago | 8-K | $284.88 | awaiting T+60 | awaiting T+60 | $279.92 (−1.74%) |
Oct 15, 2026 14d ago | Institutional Cluster | $285.57 | awaiting T+60 | awaiting T+60 | $279.92 (−1.98%) |
Aug 22, 2026 9w ago | Institutional Cluster | $305.27 | awaiting T+60 | awaiting T+60 | $279.92 (−8.30%) |
Jun 4, 2026 21w ago | Insider Cluster | $445.66 $291.42 | ▼ −34.61% | ▼ −38.61% | $279.92 (−37.19%) |
May 27, 2026 22w ago | Press Release | $478.93 $310.87 | ▼ −35.09% | ▼ −36.83% | $279.92 (−41.55%) |
Apr 15, 2026 28w ago | Press Release | $315.26 $411.89 | ▲ +30.65% | ▲ +23.60% | $279.92 (−11.21%) |
Feb 25, 2026 35w ago | 8-K | $272.47 $446.90 | ▲ +64.02% | ▲ +55.84% | $279.92 (+2.73%) |
US Market Status
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