MYR Group stock reports record Q3 and approves USD 100 million buyback

MYR Group reported record third-quarter results on October 28, 2026, for the period ended September 30. According to the MYR Group release published by GlobeNewswire, quarterly revenue rose to USD 1.26 billion, while net income reached USD 60.0 million, compared with USD 32.1 million a year earlier.

Revenue growth lifts profitability

The Commercial and Industrial segment generated USD 704.5 million in quarterly revenue, up from USD 447.0 million in the prior-year quarter. Transmission and Distribution revenue was USD 554.5 million, compared with USD 503.4 million previously. The company attributed the increase in C&I revenue partly to fixed-price contracts and contributions from the Valley Electric and Comet Electric acquisitions.

Gross margin improved to 13.6 percent from 11.8 percent. MYR Group said better-than-anticipated productivity and favorable project closeouts supported the improvement, although project inefficiencies partly offset the benefit. Third-quarter EBITDA, a non-GAAP measure, increased to USD 110.0 million from USD 62.7 million.

Backlog and capital allocation

Backlog stood at USD 3.68 billion at September 30, an increase of 38.2 percent from a year earlier. C&I accounted for USD 2.39 billion and T&D for USD 1.29 billion. In the first nine months, revenue reached USD 3.34 billion and net income was USD 156.7 million.

The board also approved a share repurchase program of up to USD 100 million. It becomes effective on November 4, 2026, and is scheduled to expire on November 3, 2027, although the company is not obligated to repurchase a specific amount. Management said the program is intended to be funded with cash on hand and borrowings under the revolving credit facility.

Share price and investor context

Lang & Schwarz quoted MYR Group at EUR 253.15 on October 29, 2026, at 23:00 Berlin time. The quote is a euro-denominated market price; no verified Xetra closing comparison is included here. The real-time quote of MYR Group stock provides the current market reference.

Market conditions for US equities remain relevant to the valuation context, without establishing a causal link to MYR Group's results. Current S&P 500 market context.

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