MYR Group stock gained 2.30 percent on October 2 as earnings grew further

Published on 10/05/2026 at 11:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

MYR Group stock posted USD 1.08 billion in Q2 revenue, up 20.1 percent year over year. Diluted EPS reached USD 3.17 versus USD 2.62 consensus.

MYRG, US55405W1045, Illustration mit AI erstellt.

MYR Group stock (ISIN US55405W1045) was last at USD 304.77 on NASDAQ on October 2, 2026, gaining 2.30 percent in the session. The move followed a second-quarter performance in which revenue and earnings both exceeded the published consensus, according to MYR Group in its July 29, 2026 results release.

Revenue reaches USD 1.08 billion

MYR Group reported second-quarter 2026 revenue of USD 1.08 billion, an increase of 20.1 percent from the year-ago quarter. Diluted EPS was USD 3.17, compared with USD 2.62 consensus, while net income reached USD 49.9 million, according to MYR Group.

The earnings mix was led by Commercial and Industrial revenue of USD 557.7 million, up 41.5 percent year over year. Transmission and Distribution revenue rose 3.5 percent to USD 524.0 million, showing that growth was concentrated in the commercial and industrial business rather than evenly distributed across both divisions, Zacks reported on September 11, 2026.

Backlog provides revenue visibility

MYR Group ended the second quarter with a record backlog of USD 3.16 billion. Commercial and Industrial backlog stood at USD 1.89 billion, while Transmission and Distribution backlog was USD 1.27 billion, giving the two divisions different starting points for future project activity, according to Zacks.

Profitability also improved. Gross profit increased 38 percent to USD 142.7 million, gross margin reached 13.2 percent, and operating profit rose 71 percent to USD 67.9 million in the quarter. The margin expansion matters because project execution and contract mix now influence how much of the revenue growth reaches earnings.

Analysts set USD 451.20 target

MarketBeat reported a Moderate Buy consensus from eight analysts on September 15, 2026. The average 12-month price target was USD 451.20, with four Hold ratings, two Buy ratings and two Strong Buy ratings, according to MarketBeat.

The consensus is higher than the October 2 market price, but the stock remains below its 52-week high of USD 503.57. Its 52-week low was USD 190.14, and the market capitalization was USD 4.7 billion on October 2, 2026.

MYR Group stock stays below yearly high

MYR Group stock was last at USD 304.77 on NASDAQ on October 2, 2026, with trading volume of 180,847 shares and a session range of USD 303.08 to USD 308.55. The combination of record backlog, 20.1 percent quarterly revenue growth and a valuation below the yearly high leaves execution and margin durability as the central market questions.