MYR Group Posts Q1 Record: $1B Revenue, $46.8M Net Income
MYR Group delivered record Q1 with net income of $46.8 million, revenue of $1 billion and EBITDA of $81.5 million, beating EPS estimates at $3.01 per share. Year-to-date shares climbed 50.7%, outpacing the utilities sector’s 10.5% growth, while backlog hit $2.84 billion and debt-to-equity stands at 0.16.
1. Record Q1 Financials
MYR Group reported first-quarter EPS of $3.01, net income of $46.8 million, revenue of $1 billion and EBITDA of $81.5 million, all marking quarterly records and exceeding analyst expectations.
2. Robust Stock Performance
Shares have risen 50.7% year-to-date, reaching a 52-week high of $331.28 and outperforming the 10.5% gain in the utilities sector, reflecting strong investor confidence.
3. Record Backlog Boosts Growth Pipeline
The company secured a record backlog of $2.84 billion, underpinning future revenue streams and supporting expansion plans across existing and new geographic markets.
4. Strong Balance Sheet and Valuation
MYR Group maintains a conservative debt-to-equity ratio of 0.16, a P/E ratio of 44.7, and low leverage, positioning the firm to fund growth initiatives from shareholder equity.