MYR Group Posts Record 2025 Results on Electrification Demand
Event summary
- MYR Group reported Q4 2025 revenues of $973.5M, up 17.3% YoY, with record net income of $36.5M.
- Full-year 2025 revenues hit $3.66B, with net income of $118.4M, both all-time highs.
- Backlog grew to $2.82B, reflecting steady bidding in T&D and C&I segments.
- T&D segment revenues increased $80.9M YoY, driven by transmission and distribution projects.
- C&I segment revenues rose $62.8M YoY, supported by higher contractual margins.
The big picture
MYR Group's strong 2025 performance underscores the growing investment in electrical infrastructure and electrification. The company's ability to capitalize on these trends will be critical as it navigates project inefficiencies and labor cost pressures. With a record backlog and improving margins, MYR is well-positioned to sustain its momentum in a competitive construction market.
What we're watching
- Electrification Demand
- How sustained electrification demand will impact MYR's growth trajectory in 2026.
- Project Efficiency
- Whether MYR can maintain productivity gains amid rising labor and project inefficiencies.
- Backlog Conversion
- The pace at which MYR converts its record backlog into revenue and profitability.
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