MYR Group rallies on Q1 earnings beat, record backlog and stronger margins
MYRG•MYR Group shares are jumping after the company posted a sizable Q1 FY2026 earnings and revenue beat and reported a record $2.84 billion backlog. Investors are also reacting to sharply higher profitability, with net income rising to $46.8 million ($2.99 per share) from $23.3 million ($1.45) a year earlier.
1) What’s driving MYRG higher today
MYR Group is moving sharply higher on April 30, 2026 after reporting first-quarter 2026 results that topped expectations on both revenue and earnings, alongside a record backlog that signals continued demand for its electric utility infrastructure and commercial/industrial work. The company reported Q1 revenue of about $1.00 billion and diluted EPS of $2.99, while backlog climbed to $2.84 billion as of March 31, 2026 (up 7.7% year over year). citeturn1search0turn1search11turn1search10turn1search9
2) The key numbers investors are focused on
Profitability accelerated meaningfully: net income was $46.8 million ($2.99 per diluted share) versus $23.3 million ($1.45 per diluted share) in the prior-year quarter, and quarterly EBITDA was a record $81.5 million. The backlog increase to $2.84 billion is being treated as validation that the work pipeline remains strong even as the company scales execution across large projects. citeturn1search0turn1search1
