MYR Group Posts Record Q2 Revenue on Backlog Surge and Strategic Acquisitions
Event summary
- MYR Group reported Q2 2026 revenue of $1.08 billion, up 20% YoY.
- Net income reached $49.9 million, or $3.17 per diluted share.
- Backlog grew to $3.16 billion, a 19.6% increase from Q2 2025.
- Acquired Valley Electric and Comet Electric on July 1, 2026.
- EBITDA hit $85.0 million, up from $55.6 million in Q2 2025.
The big picture
MYR Group's record Q2 performance underscores the robust demand for electrical infrastructure services, particularly in transmission and distribution. The strategic acquisitions of Valley Electric and Comet Electric position the company to expand its commercial and industrial footprint, aligning with broader trends in utility modernization and clean energy projects.
What we're watching
- Integration Challenges
- How MYR Group will integrate Valley Electric and Comet Electric to enhance C&I capabilities.
- Market Demand
- Whether sustained customer demand in core markets will continue supporting growth.
- Operational Efficiency
- The pace at which MYR Group can maintain better-than-anticipated productivity across projects.
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